A SOUND POSITION.

Auckland Star, Volume LIX, Issue 235, 4 October 1928, Page 11

A SOUND POSITION.

ONE TREE HTT.Ti FINANCES.

ROAD WORKS EXPENDITURE.

In the half-yearly statement of accounts presented to the One Tree Hill Road Board last evening, the clerk, Mr. A. Leese, stated that the finances of the board were in a very sound position. With the exception of the waterworks, contractors' deposits and interest on the street loan of £20,300, all accounts were in debt, due to the non-payment of rates, but this was not significant. The overdraft and outstanding cheques amounted to £2910, which was not excessive for the time of the year, as approximately one-half of the year's payments had been met. The total receipts for the six months amounted to £10,301, and the expenditure £16,549. Some items, notably heavy traffic licenses and permit fees, had yielded less than was anticipated, but this would be counterbalanced by increased revenue from contributions and penalties on rates.

Road works had entailed the largest individual expenditure, and the allocation of that fund was the only matter requiring special An aggregate of £4508 had been paid to that account- during the six months, as against £7655 allowed for the full year. Practically all tarred roads had received a new coat, but not all the expenditure for this was shown, as some accounts still remained to be paid. These, plus unallotted payments for wages and other expenses, would bring the total cost of retarring up to £1585, or £58 in excess of the year's allocation. Several other items showed an excess of expenditure over, allowance. Maintenance of untarred roads was estimated to cost £2904, of which £1809 had been used, leaving £1035 for the rest of the rear, while practically the whole of the £500 allotted for new footpath work had been spent. The gross amount available for public works for the remainder of the year was £3147, so that the balance of the allocation for roadmaking, £1147, would have to be supplemented from other rates. Receipts for the sale of water totalled £2621. This was an increase over last yeaT, due to the abnormally dry summer. The for the second half of the year, the winter period, would be considerably lower, so that the present credit of £1381 would be somewhat reduced by March. 31. All interest and sinking fund payments on waterworks loans were now paid from this account. Only eleven per cent of the current year's rates had been collected, but the position was not abnormal. Considerable difficulty had been experienced in getting in the arrears, which stood at £2497 on April. 1, but £1630 had been paid to date. Part of the balance had been handed to the solicitor to collect, and the remainder was being paid off by instalments by arrangement with individual ratepayers. On the motion of the cfiairman, Mr. H. B. Dobbie, discussion of the statement was deferred to the board in committee, before being brought up at the next ordinary meeting.