TRAMWAYS AND LIGHTING

Dominion, Volume 10, Issue 3135, 13 July 1917, Page 6

TRAMWAYS AND LIGHTING

THE AUDITOR'S EEPORTS. The following interesting report from Mr. A. T. Clarke, auditor for the City Council* on the tramways finance up till March 31 last was submitted to the City Council last evening:— "The appropriation account shows a surplus in the tramways of .£18,959 18s. id., as against Xil.Vld ss. 3d. on March 31, 1916, and of ,£1729 3s. Is. as against i!130(i ss. 3d. from the power supply, thus milking a total profit for the year of .£20,689 Is. 3d. This amount has been reduced by various special appropria- : tions of Is. k\., which includes I .£1384 19s. 9d.'written off preliminary expenses, thus leaving an undivided profit of .£12,563 03. Id., as against J321.474 7s. Sd. in the previous year. The aeeidoiifc insurance fund now amounts to i!13,3u'2 75., as against 4;iO,(iS9 lO.s. 4d. at a similar date last year. The depreciation renewal fund amounts to j≥177.117 os. Id., of which .£32,078 Ss. Gd.Ms on fixed deposit at the tank. 1 have at various times checked the stocks of tickets at the end of tlie four-weekly periods, and the actual stocktaking agrees 'with the amounts shown in the ticket register. Since Mr. Crombie has left for the front, the tickets have been in charge of Mr. Sinclair, and they have been balanced systematically, and no dillerences have occurred. With regard to the depreciation and renewal funds as well as accident insurance fund, 1 undcrstn.ni! a Bill is now before Parliiient to legalise these accounts. I have not verified the sinking fund securities, but have compared them- with the amount in the books of the sinking fund commissioners. All those sinking fund securities are verified by the Government Auditor and myself at a future date."

"Tho result of the twelve months' working expenses, after allowing for depreciation and sinking funds, shows a balance of M6,bs2 2s. 2d., as against .£20,917 Ss. 3d. for the previous year. This amount has been reduced by appropriations of iiIO.OT 10s. 6d.. which includes A'sooo written oIF the old station plant and JKOOO for goodwill, thus leaviug a balance of -£16,258 ss. Bd., as against ,£10,558 15s. M. in the previous year. The depreciation and renewal fund non amounts tii .£67,77(5 !>». 5<1., but is not represented by any liquid asset. The accident fund now amounts to J2507 7s. Sd., lvhic.h is represented by a similar amount in tlio current account at tho bank. Trade accounts nmoiint to <£404 18s. 10d. as against JC49B 7s. 6d. in the previous year. Most of this has since been diecharged. These accounts represent sundry debtors for repairs, maintenance, and, in some instances, for goods purchased. Deferred nayments have now been reduced to E.'iSG IS*. 7d. as against Ji.iOVi 13s. Sd. in the nrovions year. Very few of the«e accounts are in arrear. ' 1 have not vcrißed the sinking fund securities, but have compared them witii the books of the sinking fund commissioners. All thn sinking fund securities aro audited by the Government Auditor and myself at a later date."