BOROUGH ELECTRICITY ACCOUNT

Taupo Times, Volume IV, Issue 173, 20 May 1955, Page 1

BOROUGH ELECTRICITY ACCOUNT

Beai's Working Shows Credit Of £5142 ■The summary of the Borough ElecKicity Account for the year ended pferch 31 last, presented to a recent jieeting of the council by the borough Rieasurer, Mr S. Torepe, showed that lle financial year began with a credit palance of £5480, and ended with a iredit balance of £10,622, a gain of |5142 on the year's operations. KSale of current during the year Kought in a total of £20,093, brought jrtp by connection fees £62 and piscellaneoiis receipts £2 to a total, ||r the year's receipts, of £20,157. ||dding the credit balance brought prward from the previous year, the Keceipts side of the account thus totPed £25,637. RPayments for the year totalled Ifi5,015, made up of administration pf96; miscellaneous £1779; maintengjjce £572; and capital expenditure p68. I|rhe ' major item of expenditure Bder the heading of administration mB that for salaries and wages, p898. Under miscellaneous the main jSutgoing was £1724 paid into the deBeciation fund. This fund is investU with the Public Trust Office, and |e amount paid in annually is fixby the Audit Department. Major jems under capital expenditure were P95 for the electricity department jfeot, and £6273, capital charges on pah moneys. | Current Year's Estimates ||pie estimates for the current fingcial year show £25,000 as the ex||ted amount for sale of current, lestimated increase on last year's geipts under this head of £4907. " TOI the credit balance of £10,622 gOiight forward, and minor receipts Knated at £55, the receipts side of

p years account is estimated to pal £35,677. HkL'" Kfa the payments side the estimates R this year show administration BSjges as £5110; miscellaneous |P0; maintenance £2100; and capiwexpenditure £14,413; these makK a grand total for estimated payRits of £23,693. Deducting this Bnated sum from the estimated Kai on the receipts side of the acjfiit, £35,677, gives the estimated pdit balance at March 31, 1956, of Rj84. gpder the heading of administra- ■ the main expenditure estimate K|at of salaries and wages £4000, Rl expenditure for this item last iphaving been £2898. In this con|||ori, two additions to the electripftaff are urgently needed, an as- j Hnt electrical inspector, and a line ■pan, to cope with general adminKtion and maintenance and the Ring out of smaller reticulation

gder miscellaneous, the main item POO is the estimated payment to llade into the depreciation fund, || £300 more than last year. pr maintenance, the estimated nis £2100, some £1528 more than ■year's expenditure. Chief in- || is under the heading of "GenR estimated at £1500 and Ksly reflecting the increase in ppartment's reticulation. Bfer capital expenditure £1050 is |pted for a Canadian pick-up K and £12,363 to cover capital K& The increase in this estiKcompared with last year's acKpayment under this head of Ris of course a reflection of the i&at capital charges, on the loan already uplifted and spent on Bdertaking, will this year be Me on the full amount. ^ferison of the credit balance

carried forward from the last financial year, £10,622, with the estimated j credit balance of £11,984 as at March ] 31, 1956, shows that the nett gain ] on the current financial year's working is estimated at £1362, as against ( last year's nett gain of £5142. i