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The War.—Our Interests in…

[No title]

Y Geninen am 1900.

Why Some Men Excuse Their…

----------The Proposed Water…


The Proposed Water Bill. I TO THE EDITOR OF THE RHYL JOURNAL. NO. 3.] SIR,—In my last letter I referred te the extra- ordinary manner in which the town of Rhyl was handicapped in the acquisition of the Water un- dertaking. Let us now see the result of six years' working under these heavy disadvantages. Un- fortunately, our system of book-keeping at the District Council Offices does not admit of a proper profit and loss account. A revenue account, which is simply a cash account, has been issued up to 31st March, 1899, which shews a deficit balance of X2075 16s 3d. Although the full annual rents for water are shewn on one side, because they are payable in advance, the charges for the year are not all entered because they are not paid within the financial year. For example, one half year's interest on £i5,OOO and the whole of the contribu- tion to the sinking fund have bean omitted for the year ending 31st March, 1894. The same omission runs through the whole period following. This is further aggravated by an omission for four years of the loan charges on the cost of the Act of 1892. Another important omission is depreciation, or its equivalent in efficient maintenance. Owing to the rotten state in which the mains were handed over to us, the Local Government Board has al- lowed us up to now to charge renewals to capital account, but this state of things cannot go on un- checked. The time will soon arrive when we shall have to put all expenditure on that account against revenue. The actual loss on the 31st March, 1899, may be stated as follows £ s. d. Deficit balance of revenue account 2075 16 3 Loan charges due at different dates but not payable 31st March, balance of interest owing at that date 1988 2 6 4063 18 9 Four years' loan charges on Act 1892, at 9211 88 5d per annum 845 13 8 Total loss £ 4909 12 5 To which may be added EIIOO charged for the supply of water for sanitary purposes which the Ratepayers have had to pay, besides the cost of the Act of 1892. Had it not been for the growth of population, and the increase of rateable valce, the loss would have been much heavier. The increased lo-in charges since 1894 amount to E1278 15s lOd. The increased income from Water Y,1114 19s 5d. Now that we have seen the balance standing against profit and loss account for the pist six years, let us enquire what will be the charges for the next six years, and how we are to get the income to meet expenditure. The first item to be dealt with is the loss al- ready sustained. The Auditor has given us fair warning to put right our finances. We have been floating on an inflated balloon, of unexpended loans of E4,855 12s lid, which has enabled us to bear our loss on Water Revenue in a beautiful state of coma. Annual. Dealing with repayment of loss in 6 years with interest say £ 800 Present annual loss £ 200 Melin Meifod pumping and depreciation of Pumping Plant £ 150 Charges on loans for Filter Beds at Glas- coed, Syphon across the Elwv, mains at Rhyl, Abergele, Pensarn, and St Asaph say f 6, 000 at 5 £ 330 Total annual charges £1450 After making allowance for increase in rateable value, and without making any further charge for depreciation, how is the additional expenditure to be met without adding at least 6d in the £ by way of rates in Rhyl for the benefit of outsiders This is not all. At the end of six years the new reservoir will be constructed at a cost according to the lowest estimate of L10,000, which at 4 per cent entails a charge of £ 450 The loss on 900 acres of freehold land form- ing the Water Shed would amount pro- bably to £2.30 There would still be the extra loan charges 9330 And the full cost of maintenance, say £1000 Total annual charge. After allowing for further increase in rateable value at the end of six years a very large deficit would have to be provided for. I will deal with this question in my next letter.- Yours, &c., P. MOSTYN WILLIAMS,


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