BOROUGH FINANCES

Bay of Plenty Beacon, Volume 8, Issue 66, 20 April 1945, Page 3

BOROUGH FINANCES

GENERAL ACCOUNT CREDIT £1110

TOWN CLERK'S REVIEW The following is the Town Clerk's annual report on the financial post* tio'n oi' the Borough as submitted to last Monday's meeting:—■ Progress within the Borough is again cvidcnced by the annual cash accounts, lor the year ended March 31_ 1945 j presented herewith. Revenue continues quite buoyant following the trend manifested in the accounts over the past several years. Difficulty in obtaining materials and suitable labour has retarded the Council's works programme' resulting this year in increased cash balances.; Receipts under all headings total £32,783 being on General Account £18,872 and on Electricity Department £13. ) 911 j and payments total being for GeneralAAccountt t and Electricity Department £12 860. \9Rates and Receipts Generally Ratepayers and others with payments to make to the Council are to be again thanked for promptly j meeting their obligations. The total rates levied (the following figures exclude native rates) was £10 891 of which £10,795 (99.1 per cent) was paid leaving a balance outstanding of £96. At the commencement of the year rates in arrear amounted to £245 of which £53 was collected, £12 written oil as irrecoverable and remains £180 outstanding. Of this figure £87 is owing by two ratepayers and is protected from recovery by Orders under the Mortgagors and Lessees Rehabilitation Act. General Account , The. figures in the main call for no comment; they follow generally the estimates, for the }'ear. The General or Working which this year received a larger portion than usual of the total rate struck opened with a debit balance of £126 and closed in credit £1110. A somewhat larger transfer from the Electricity Department also was provided in the estimates and £120(1 here was transferred. License fees show an all round increase on last year those relating to motor taxation, petrol storage and building permits accounting for the buik of the £202 additional fees received. Building permit values increased from £7077 to £4.3 842 but this figure includes £32 015 for the hospital extensions. Separate Accounts The various items in the several Separate Accounts for the greater part explain themselves. The large opening balance in the Hospital Rate Account was considerably reduced as wa;, proposed. The Cemetries Account covers a full year's working at the Hill Cemetery where there are now 25 burials. Nett maintenace costs respecting both cemetries are being shared 50/50 with the Whakatane County Council and the transfer to the General Account clears the account of the. credit balance existing on the date this arrangement became operative. Over the past 12 months maintenance. and working costs have exceeded revenues by £31. The transfer to the Hill Cemetery Establishment. Account from General Account represents the Council's share of establishment costs lor the and the balance in this account represents the amount, due from the County Council at the end of the year. The full main highways programme was not able to be carried out and is being completed subsequent to the close of the year. The credit balance in the Land Trust Fund Account of £100 can be used only for th® acquisition ol .and for liibbish dumping purposes. Interest Account principal repaid in reduction ol the Borough debt totals £2995 leaving a nett balance of loans of £73 ? - 755. Since the Loans Conversion Orders of 11 years ago the Borough debt has been reduced by £25,335. Electricity Department i Receipts from the sale ot electricity increased by £533 to £12,484, which increase was entirely within the first four months of the year. A revised scale of charges, then be-: | came operative and receipts tor the last, ieght months totalled £8018 (19-13 14 £8008). These, figures show that consumers benefited quite considerably when the .charges were revised. Developmental expenditure 'is again much below normal but a further £3000 was enabled to be transferred to Reserve (now standing at £5068) towards meeting anticipated post-war phenomenal requirements. Such a large transfer jwill hot be possible next year. The account opened in. credit £2112 . and closed in credit £187=