DEBIT BALANCE

Bay of Plenty Beacon, Volume 2, Issue 222, 7 October 1940, Page 5

DEBIT BALANCE

HARBOUR BOARD'S FINANCES Wharfage receipts down 1 "Harbour receipts for the year ended 30th September amounted to £10,007 12s and expenditure £13,354 4s 4d. The opening credit balance of £2148 10s 4d is therefore replaced by a closing debit balance of £1198 ; 2s which debit is smaller than was. anticipated/' stated the Treasurer, Mr G. G. Lucas, when reporting to the bi-monthly meeting of the Whakatane Harbour Board on Friday. I "The estimated Wharfage Receipt was £4400, whereas the actual Wharf age Receipt was £4174. This figure is some £550 below last year's receipts and over £1200 below the receipts of the year previous to that. Principally through the better payment of native rates last year the rate receipt ?s £693 in excess of the estimate of £2500. In payments the estimated expenditure on wharves, wharf buildings and wharf plant was £4000 and. the actual expenditure £5800. "With the exception of the Gen-i tennial Park where additional works were undertaken involving additional expenditure of £192 all other avenues of expenditure were in accord with the estimates. "The inward cargo was 15,553% tons in comparison with 17,972% tons tost year and 19,664 tons in the year previous to that. Outward cargo did not show the same variation, the figures being 13,971% tons and -14,861 tons for 1938-39 and 14,856% tons for the year previous to that. "The estimates for the current year will be submitted, to the Board at its meeting to be held in December. I understand that the board's policy is to reduce its rate, wherever possible and I would like to say now that presient indications are • that with a modified works programme there will be no increase required in any of the board's present rates or charges," Mr Lucas concluded.