SATISFACTORY POSITION

Bay of Plenty Beacon, Volume 4, Issue 115, 9 June 1941, Page 8

SATISFACTORY POSITION

HARBOUR BOARD FINANCE

TREASURER'S REPORT

At the annual meeting of the Whakatane Harbour Board held on Friday a report tabled by the tx-eas-urer revealed the Board's position to be a sound one. Tha report read as follows:— I have to report that the wharfage receipt has been sustained, being £3068 19s 8d to June 3 in comparison with £3084 for the previous year. As will be remembered, the wharfage receipt for the year was estimated at £380(0, but the probability vis that this figure will be exceeded by about £300. The Rate receipt was estimated at £2700 but again, principally through the Native rate collection and also on account of the European collection percentage being higher than usual, the actual receipt is higher than the estimate and stands at £3277 0s 2d. The Slips and Towage receipt for the 3 r ear was estimated at £200 whereas the actual receipt to date is £276 13s 4d. Receipts to May 16 was £7511 18s 7d in comparison with £7731 3s 3d for the previous year. The reduction is accounted for by the fact that a deposit of £136 15s 3d Avas included in the 1939-40 receipt and also recoverable expenditure was: greater by £131 6s 4d. Expenditure to date is £4769 17s JO'S. Expenditure generally is in accord with the board's estimates. However, reclamation expenditure at £84 14s 3d exceeds the estimate which was £45. The reason for this is that certain works have been necessary to the Heads park Avail. Wharves, Building and Plant expenditure at £617 10s 2d includes the following-:— Launch steps £201 3 8 Wharf frontage .... 244 15 11 Repairs 117 2 2 The estimate for the year is £650. The figures above do not include the cost of painting the sheds, Avliieh o r ork is at present in progress. There is also certain launch steps expenditure yet to be brought to charge. The Harbour Fund Account is in credit to the) extent of £1543 19s 9d of which £1200 is on Fixed Deposit. The Fixed Deposit Avill fall due on September 26 in time to meet the board's Interest and Sinking Fund payments on the Conversion Loan which amount to £2005 7s. In both reecipts and payments the board's position is satisfactory.