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SUMMARY OF ACCOUNTS FROM 1934 TO 2004

This is a summary of all the years since Tunnels opened, as prepared by MTUA.
It consolidates all transactions from revenue, capital and reserves accounts.
Figures come as far as possible from published accounts. But for some years or elements, estimates have had to be used. In particular:- 71/72 to 80/81, 85/86 and 90/91 to 94/95.

From October 1988 to March 1992, the deficit on the Tunnels was met from Precept and then Levy. After a legal opinion, Merseytravel subsequently decided that this was illegal and Tunnels are having to pay this back with interest. MTUA does not agree with this action, but for the purpose of this summary, we have reflected what they are doing.
Without this, the Tunnels would currently be about £50 million better off.

The 2004 prices figures are as adjusted for inflation to March 2004 using House Of Commons inflation factors, this gives higher inflation figures for 1930s than the RPI does. With so many different elements over so many years, the 2004 prices figures can only be a rough guide.

1934 to 2004 Historic
Cost		 March
2004
prices
     
INCOME £M £M
Toll income 530 1286
Precept on L'pool & B'head 1934 to 1947 1.5 53
Interest on Reserves 9 65
Other income 4 19
Total income 545 1423
     
REVENUE EXPENDITURE £M £M
Toll Collection 40 99
Interest on Debt 279 687
Tunnels Maintenance & Admin etc 140 339
Policing 39 87
Total Revenue Expenditure 498 1212
     
APPROPRIATIONS £M £M
Income & Profits Tax 1 16
Ferries to 1976 4 61
To Merseytravel as "levy repayment" 22 25
To Ferries as "levy repayment" 6 7
To Birkenhead for Approach Roads 3 25
Funds taken by County in 1985 5.5 11
Total Appropriations 42 145
     
CAPITAL EXPENDITURE & RENEWALS £M £M
Birkenhead Tunnel Construction 7 291
Contribution from Road Fund 1934 -2.5 -108
Wallasey Tunnel Construction 37 353
Subsequent capital expenditure 10 100
Renewals Expenditure met from Reserves 7 63
Renewals Expenditure met from Revenue 34 39
Total Capital Expenditure & Renewals 92 738
     
  £M  
Total Expenditure less Income 87  
     
FINANCING BALANCES at 31 March 2004 £M  
Loans 71  
Precept / Levy being repaid to Merseytravel 23  
less Reserves -7  
Total Financing Balances 87  

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