Estimates-1970 — Page 342

336

I. Capital Reserves

II. Sinking Fund:

In hand at 1.4.67

Contributions and Interest for the year

BALANCE SHEET OF

AS AT 31ST

LIABILITIES

GA

$

$

113,000,000

98,460,968

15,296,735

113,757,703

III. Advance Account:

Accumulated Advances as at 1.4.67

1,185,331,942

Advances during the year

124,419,023

1,309,750,965

$1,536,508,668

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, the Shek Pik Scheme and the Plover Cove 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. 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.