Healthy power cash surplus

Ruapehu Bulletin, Volume 8, Issue 375, 26 February 1991, Page 4

Healthy power cash surplus

King Country Electric Power Board has a good first nine months in the current financial year. Board treasurer Norm Annand reported to the February meeting that a surplus of $722,461 was generated between April and December, compared with a $202,745 loss in the same period last year. While electricity saies remained much the same, the trading department has shown a huge lift in income on the previous nine months, reflecting the purchase of Turangi Appliances and a $100,000 stock writedown at the Taumarunui Brightspot Appliance Centre last year. Mr Annand reported the static electricity

saies reflected a two per cent tariff increase in October 1990 but they had begun to pick up after a slow two months. A change in status for the board has resulted in a $11,000 increase for the year in members' fees and expenses and this is expected to remain the same for the rest of the financial year. Office expenses have increased by $154,000 over the year due to computer insurance expenses, increased postage charges resulting from monthly billing and the inclusion of marketing and public relations in the operating and maintenance budget.