Estimates-1966 — Page 274

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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.