HOROWHENUA POWER BOARD.

Manawatu Herald, Volume XLVIII, Issue 3013, 20 March 1926, Page 2

HOROWHENUA POWER BOARD.

MONTHLY MEETING.

The monthly meeting of the above Board was held at Levin on Tuesday, presided over by Mr. G. A. Monk. There were also present:— Messrs Mathcson, Gunning, Seifert, Kilsby, Barber and Brown. The secretary, Mr. P. W. Goldsmith, and the engineer, Mr. J. A. Smith, were also in attendance. Leave of absence was granted Messrs. McKay and Ross.

The Treasurer reported that since the last meeting of the Board the total amount collected comes to £3898, made up as follows: Installations £1313, service lines £4GS, electricity £1557, meter rents £l6B, motors, ranges and water-heaters £395.

The following table shows the receipts for the financial year to date: —lnstallations £13,442 14s 2d; service lines £2347 Is Id; electricity £19,3G0 13s 4d; meter rent £9lO 12s; motors, ranges and water heaters, £4131 lGs Gd; total £24,203 Is lOd.

From the above it will be seen that £19,360 has already been received from the sale of. electricity (of which amount perhaps some £7OO belongs to the previous year), and a further amount to come in before the 31st instant, or to be due on that dale may be taken as say £3OOO. This would make the revenue from the sale of electricity to be well on towards the £22,000 mark.

Loan Monies.—Since the last meeting of the Board the final instalment of the £2OOO loan has come to bund and makes the total amount borrowed by the Board to be £IBO,OOO. As stated in my last report the loan expenditure is about at an end. Some £13,000 to £14,000 of loan money will be available as the accounts for installations are paid, but not more than £4OOO to £SOOO of this amount can be expected soon, the balance will not come to hand for some considerable time. Some of the installation accounts are spread over a i’e-payment period of three years. In the very near future it will be necessary to reduce expenditure whereever possible, because very shortly the revenue account will alone have to bear the cost of carrying on the Board’s undertaking. By the next meeting of the Board the balances for the year ending on the 31st inst., will be far enough advanced to give the Board a general idea of the Board’s operations and the financial position and outlook. —Adopted. Accounts passed for payment totalled £2105 0s Id.