ELECTRIC LIGHTING.

Dominion, Volume 6, Issue 1724, 15 April 1913, Page 6

ELECTRIC LIGHTING.

REPORT FOR 1912-13. THE; ENTERPRISE OF THI; CITY, The Tramways Committeo of tho City Council yesterday considered reports submitted to them as to the working of the tramways and lighting department during the year ended .March 31 last. The' reportconcerning the tramways has already been published., Following is the-text of the report of Mr. Stuart Richardson, referring, to tho electric light enterprise:— I beg to furnish herein summarised statements of. electric lighting revenue and expenditure for the year ended March 31, 1913, with .comparative figures for the previous year:— ~Revenuc ! and Expenditure. ££ . £ 1912-13. 1911-12. Revenue 58,157 51,720 inc. 6,-137 Generation expenses 14,8-16 14,220 inc. 626 Distribution expenses 6,0-17 5,032 inc. 1,015 General expenses 6,582 5,981 inc. 601 Total • working expenses 27,475 25,233 inc. 2,2-12 Interest 7,13-1 7,141 dec. ' 7 Sinking fund- ... 3,16!) 3,169 — — Depreciation,..., 7,231 7,239 dec. 8 Total expenditure 45,009 42,782 inc. 2,227 Net surplus ... 13,148 8,938 inq. 4,210 Inc., increase. Dec., decrease. After providing for expenditure on motor-cycles for the lighting stuff, writ-ing-oif 4 per- cent, of preliminary expenses, and also writing down value of certain old stores, in addition to the writ-ing-olf of <£5000 from goodwill account, and iE50l)0 off old station plant, there is a credit balance remaining from the net surplus of ,£2696, which will be carried forward. Capital Account. ' During the year the sum of ,£6723 was expended on new works, out of revenue, in connection with extensions to the distributing mains, meters, and transforinTho total capital expenditure (after writing down goodwill and old plant by ,£l'o,ooO, as authorised by the council) now stands in the books at <£228,839, built up o£ the following funds:— £, Loans .' , 176,900 Temporary; loan from district fund 10,000 . . ■ ' . 186,900 Deduct • public- lighting loan moneys unexpended 327 • 186,573 Add contributions from profits and depreciation fund ■ 42,266 Total capital expenditure 228,839 Tlie total number of connections now amount to 7884, an increase of 1271 connections during the year. , Accident Fund. The .lighting 'accident fund is now in credit' to the extent of .£1515, of which .£IOOO -is■ on deposit with the district fund at 4 per cent., ,£4BO is in tho bank, and .£35 is accrued interest payable by the district fund. The small amount of ";E29 was paid during the' year in settlement of claims out of the fund. Sinking Fund and Depreciation. The amount to the credit of-private lighting -and public lighting loans -sink-' ing funds now totals .£19,y32. Of this sum .£IO,OBB has" been invested by the sinking'tund commissioners. The amount to the credit of the depreciation account is now i! 36,773, the whole of which sum has been expended on new works in the extension of' the undertaking. I ■. Cash Balance. . There were cash balances at the bank and in hand on the .working account at March'3l, 1913, amounting t0,.£5944. Add to this amount accounts due to the department. less wages and accounts payable by the 'department, and there re-, maihs accredit balance of £7600 available fot expenditure, on part cost of new plant and extension's-iliiiin'g tho current year. . Estimates for Year 1913-14. The estimated, expenditure for the cur- . rent year, on .new: work's is as follows: — > . ' £ Turbine and J>oilers 17,000 Extension of mains 8,000 Commencement of system. of underground mains 2,000 New switchboard 2,200 ; ' ' ■ _ 29,200 ■ ■ To meet this'expenditure it is estimated the-following' funds will bo available:— £ Credit balance as at March 31, 1913 7,600 Net surplus for current year 13,000 Depreciation fund for current year 7,400 ' _ - ,£28,000 This shows that there will be a debit balance' of i£l2tlo at' tho end of tho present financial year, in addition to the ,£IO,OOO due at present to the district fund.