266
I. Advance Account:
Accumulated advances as at 1.4.63
Advances during the year
II. Revenue & Expenditure Account:
Accumulated Surplus as at 1.4.63
Less Deficit for the year
III. Capital Reserves
LIABILITIES
BALANCE SHEET OF
AS AT 31ST
$
499,806,580
136,565,626
636,372,206
9,838,677
5,587,283
4,251,394
113,000,000
753,623,600
IV. Sinking Fund:
In hand at 1.4.63
62,054,048
Contributions and interest for the year
6,333,584
68,387,632
$822,011,232
This balance sheet is a notional one showing the Capital Assets and Liabilities as they would be shown if capital expenditure had been financed by advances from Government, by surpluses earned on operations, and by funds provided by the Sinking Funds; and if those capital expenditures and the revaluations as at 1st April, 1952 were to be amortized by the establishment of Sinking Funds.
For this purpose it is assumed that the Dams, etc. revalued as at 1st April, 1952, and the capital expenditures on the Tai Lam Chung Scheme, are to be amortized over 50 years, and that the expenditure on items 1, 2 and 3 of the assets acquired since 1st April, 1952, are to be amortized over 25 years. No provision is made as yet for amortization of expenditure on the Shek Pik Scheme or on the Plover Cove Scheme. The value of land occupied is not included except that, where it has been resumed, it is included in the capital cost of a scheme.