1950 — Page 59

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Statement No. 2.

Waterworks Renewals and Improvement Fund.

A. Capital expenditure from Revenue up to 31st March, 1948.

(1) Charged to revenue up to 31.12.38

1939 Credit for sale of surplus plant

$15,644,464 30,977

(ii) Charged to revenue in anticipation of a loan

Actual expenditure up to 31.12.39 Estimated expenditure 1940/41 ........

$15,613,487

2,266,913

1,714,494

3,981,407

19,594,894

(iii) Expenditure from P.W.E. works of capital nature-

1948/49

1949/50

$

6,650

1,148,981

1,155,631

$20,750,525

B.

2% of $20,750,525 being contribution to Renewals and Improvement Fund in 1950/51

Renewals and Improvement Fund as at 1.4.1950.

$ 415,010

NOTE: The credit balance of $1,100,093 brought down from 1940/41 has been written off as lost through enemy action.

To actual expenditure charged

1948/49 1949/50

$ 39.143 20,644

Actual contributions by transfer from P.W.R. sub-head

sub-head entitled Contributions to Renewals & Im- provement Fund.

1946/47

$ 391,898

To balance carried down

1,507,938

1947/48

1948/49

1949/50

391,898

391,898

392,031

$1,567,725

$1,567,725

Estimated expenditure

in 1950/51

985,000

Balance brought down

1.4.50

1,507,938

Net depreciation

on

revaluation of stocks

held at 31.3.50

28,072

Estimated balance on

31.3.51

936,075

Dividend on invest-

ments to 31.3.50

Contributions due for

1950/51

26,199

415,010

$1,949,147

$1,949,147

NOTE: The securities in the hands of Crown Agents:

$1,000,000 + dividends $26,199.00-depreciation $28,072,46= $998,126.54.