Accrington on Rails - The Tramways: A Complete History - Robert Kenyon

April The Electrical, Legal & Parliamentary Committee met, when it was resolved that the annual order for uniforms for the tramway staff should, in accordance with the three-year contract entered into the previous year, be placed with Messrs Briggs, Jones & Gibson. May The Electrical, Legal & Parliamentary Committee met, to consider estimates for the current financial year. The Borough Treasurer submitted a memorandum of abstract accounts for the Tramway Department for the year 1915 - 1916 with respect to the new estimates as follows - Year Car miles run @ 1d per car mile Add 3% interest Year-end total 1907/8 238,109 £992 – 2s – 5d - £992 – 2s – 5d 1908/9 482,259 £2,009 – 8s – 3d £29 – 15s – 3d £3,031 – 5s – 11d 1909/1 0 482,224 £2,009 – 5s – 4d £90 – 18s – 9d £5,131 – 10s – 0d 1910/1 1 519,823 £2,165 – 18s – 7d £153 –18s – 10d £7,451 – 7s - 5d 1911/1 2 522,158 £2,175 – 13s – 2d £223 – 10s – 9d £9,850 – 11s – 4d 1912/1 3 531,355 £2,213 – 19s – 7d £295 – 10s – 4d £12,360 – 1s – 3d 1913/1 4 573,536 £2,389 – 14s – 8d £370 – 16s – 0d £15,120 – 11s – 11d 1914/1 5 548,070 £2,283 – 12s – 6d £453 – 12s – 4d £17,857 – 16s – 9d The amount in the fund at March 31 st 1915 = £16,891 – 0s – 10d, leaving a shortage of £966 – 15s – 11d at the end of the year. These figures are submitted to show the amount which should have been in the Depreciation & Renewals Fund at the 31 st of March 1915, on the basis of 1 penny per car mile run, plus compound interest at 3% per annum. Of this fund £16,581 is on loan to the Education Committee for their purposes. It is proposed to charge 3½% on this loan during 1915/16. The net balance of revenue for 1914/15 = £3,179 – 0s – 0d after all statutory charges had been met, but before any provision was made for depreciation and renewals. The amount required in the year for depreciation and renewals was £2,284, roughly based on 548,070 car miles run @ 1 penny per car mile. The amount actually set aside for this purpose was £568, leaving a deficit for the year of £1,716. An additional £967 would have been sufficient to cover the needs of the Depreciation & Renewals Fund up to the end of the eighth year. ADDITIONAL CHARGES & REDUCTION OF INCOME IN 1915/16. These are itemised as follows - (1) Interest and redemption of additional debt incurred during 1914/15 for depot extensions and new tramcars = £711. (2) Additional interest @ ¼% on loans of £86,136 @ £215. (3) An increase in ‘Patriotic’ payments for employees at present serving with the forces for the year = £936, less actual payments in 1914 – 1915 @ £304 = £632. (4) An increase in the cost of electricity from 1·23 pence per unit to 1·5 pence per unit = £939. (5) An increase in rates and taxes = £80. (6) A reduction in revenue for 127 days from April 1 st to August 5 th @ £9 – 5s – 0d per day = £1,175, less a 54% reduction in working expenses = @ £635 = £540. Giving a grand total of £3,117. Assuming that the revenue does not vary beyond the rate of reduction predicted, which is based on actual experience of the first forty days of the current financial year, as compared with the corresponding period in 1914, then the income in excess of the expenditure will only be (7)

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