310
I. Capital Reserves
II. Income and Expenditure Account:
Accumulated surplus as at 1.4.66
Surplus for the year
III. Sinking Fund:
LIABILITIES
BALANCE SHEET OF
AS AT 31ST
GA
$
SA
113,000,000
1,438,565
6,381,463
7,820,028
In hand at 1.4.66
86,950,446
Contributions and Interest for the year
11,510 522
98,460,968
IV. Advance Account:
Accumulated Advances as at 1.4.66
1,017,754,795
Net Advances during the year
167,577,147
1,185,331,942
$1,404,612,938
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 expendi- tures on the Tai Lam Chung Scheme and the Shek Pik Scheme are to be amortized over 50 years, and that the expenditure on items 1, 2 & 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 Plover Cove Scheme. The value of land occupied by installations or sterilized by catchment areas is not included except that, where it has been resumed, it is included in the capital cost of a scheme.