ELECTRIC LIGHTING

Dominion, Volume 11, Issue 217, 1 June 1918, Page 12

ELECTRIC LIGHTING

. A TEAR'S WORKING. The corporation auditor roported to the City Council on Thursday:— The result of the twelve months' working of the electric lighting department for the year ended March 31, 1818, shows a net balance of £29,119 18s. 6d., as against i!2G,592 2s. 2d. at March 31, 1917. I may mention that this increase is brougnt about partially by the amount of bank- interest, which is .£3210 this year, as against .51990 in. the previous year. Tho net profit of .£29,119 18s. 6d, has been reduced by appropriations of .-611,339 15s. lOd., which included ,£SOOO written off goodwill, 4!5000 off station plant, and other appropriations of ,£1339 15s. 10d., leaving a balance of .£17,780 2s. Bd., ns against .£16,258 ss. Bd. at March 31, 1917. The depreciation account amounts to J67,776 9s. lid., the eamo amount at which it stood at the end of the previous twelve months. The accident fund now amounts to ,£2767 !)s.'6d., which is represented by J3IOOO investment and .£1767 9s. Gd. on current account at tho bank. The trndo accounts amount to .£305 7s. lldi. as agniust £101 18s. 10d. last year. " These have- mostly been discharged, and represented sundry debtors for repairs nnd inaintenaucc, and in , some few instances for goods purchased. Deferred paymonts havo been reduced from 4:386 18s. 7d. at March 31, Wl7, to £195 18s. 3d. this year. Very few of tho accounts are in arrear, and tho instalments on the whole appear lo be regularly paid. The only other item requiring attention in the balance-sheet is tho loan of 4250,000 to tho district fund.