B.—l [Pt. IV]

NORTH ISLAND HYDRO-ELECTRIC-POWER SUPPLY Profit and Loss Account for Year ended 31st March, 1944, compared with Year ended 31st March, 1943 Gross Revenue Account

Net Revenue and Appropriation Account

5

1943-44. 1942—43. 1943-44. 1942-43. To Generating-expenses (hydro-electric)— £ £ j £ |j By Sales of electrical energy— £ £ £ £ Arapum .. .. .. .. .. 44,038 47,743 Bulk for resale .. .. 1,686,634 1,608,760 Horahora .. .. .. .. .. 8,593 9,319 Other than for resale — Mangahao .. .. .. .. 14,058 14,129 \ Traction .. .. 22,358 21,34-3 Waitaremoana (Tuai) .. .. .. 17,136 19,353 j Industrial .. .. 42,816 44,935 Waikaremoana (Piripaua) ...... 4,476 Retail .... 3,334 3,224 88,301 68,508 90,546 1,755,142 — Generating-expenses (fuel) — i f Qjg.262 Penrose .. .. .. .. 8,272 1,210 Rents— —— Huntly .. .. .. .. .. 907 1,284 Land and buildings .. .. 16,381 15,367 Kings Wharf .. .. .. .. 144,301 128,164 Lines and plant .. .. 651 539 153,480 1 17,032 — 130,658 15,906 Purchase of power in bulk .. .. .. .. 267,271 173,335 Miscellaneous revenue .. .. .. 2,733 2,532 Standby charges .. .. .. .. .. 32,155 32,150 541,207 426,689 Transmission system: Patrol and maintenance .. .. 44,624 41,835 Substations: Operation and maintenance .. .. 63,854 79,974 Communication system: Patrol and maintenance .. 4,599 3,382 Distribution: Maintenance .. .. .. .. 1,984 1,379 System operation, testing, &c. .. .. .. ».. 19,313 21,487 Management and general expenses .. .. .. 69,882 67',684 745,463 642,430 Balance, to Net Revenue and Appropriation Account .. 1,029,444 1,054,270 £1,774,907 £1,696,700 j £1,774,907 £1,696,700

J. J. J. 1943-44. 1942-43. 1943-44. 1942-43. [I - £ £ £ £ £ To Interest (gross) for year ended 31st March, 1944.. 498,616 463,844 By Balance from Gross Revenue Account .. .. 1,029,444 1,054,270 Less interest capitalized .. .. 49,460 64,555 Transfer from Reserve Fund (Finance Act (No. 2), 1944, 202,483 92,314 449,156 —— Section 9) 399,289 Depreciation on completed works .. .. .. 237,521 229,778 Loan Redemption Fund .. .. .. .. 208,068 197,652 Social Security charge, national-Security tax, income- .. 337,182 319,865 tax £1,231,927 £1,146,584 £1,231,927 £1,146,584