BOROUGH ACCOUNTS

Bay of Plenty Beacon, Volume 9, Issue 65, 24 April 1946, Page 5

BOROUGH ACCOUNTS

SOUND FINANCIAL POSITION TREASURER’S REPORT In presenting the Annual Accounts, for the year ending March 31 last the Twn Clerk, Mr D. V. Saundexs, at last meeting of the Birough Council stated as under:—

“The financial position disclosed is very satisfactory, the persistent buoyant tendency of revenue over the past several years having enabled the Council without increasing its own rates (the Hospital Rate has increased to meet the Board’s in-ci-eased levy) to pux-sue a progressive woi'ks policy, meet increased costs of wages and materials, and at the same time maintain a sound financial position throughout. Rates and other charges due to the Council have again been promptly met, and thanks of the Council herein are due to ratepayers and other parties concerned. Receipts have totalled 32,868 being in the General Account, £17,657 and in the Electricity Account £15,211. With l-espect to the most important individual revenue item rates, there was levied this year (excluding Harbour Boai'd and Natives) the sum of £11,836 —collections have totalled £11,691 or 98.8 per cent. This is slightly behind the 1946 percentage collections of 99.0 per cent. Total Borough rate arrears due by Europeans amount to £306 12s Id. General Account Revenue in the General Account shows an all round increase, the item of £698 for work done for other

parties being much larger than the average figure. The Govei-nment subsidy of £230 on the restoration of the 1944 flood damage was claimed and received. Expenditure on flood damage restoration (yet incomplete respecting the Wainui Te Whara Gorge Road) has totalled £1046. The credit balance at the close of the year in the General Account shows a substantial increase. Expenditure at £1670 was heavy in the Water Supply Account but included non-recurring capital expenditure on the purchase of a replacement pressure reducing valve and the cost of 4” concrete water mains for the Alexandria Avenue extension. A deficit in this account of £196 on the year’s working has been cleared by a transfer from the General Account.

The Sanitary Service Account has failed to balance on the year’s working by £134 although the expenditure includes a non-recurring item of £64 for improvements to the water supply at the depot. Fees collected for the refuse collection at 15/per sex-vice produced £483 which was £139 in excess of the cost for the year.

Main Highways

A total expenditure on Main Highways approximate that for last year. In the Cemeteries Account revenue from the sale of plots has more than covered maintenance costs. At the Hill Cemetery £154 was expended on capital improvements and planting and the balance remaining in the Account is the balance due by the Whakatane County Council up to March 31 towards establishment costs. The cash balance available for plant replacement and the balance in the Office Equipment and Extensions Reserve have increased dui'ing the year.

The Interest Accounts show further principal repayments totalling £2932 off the Council’s loan liability which is now reduced to £70,840, being £42,862 owing by the District Fund Account and £27,978 owing by the Electricity Department. In the Electricity Account revenue from consumers has increased £1219 to £13,603. Maintenance expenditure is moderate and capital expenditure is low as has been the case for some years. However, to meet known and anticipated post-war capital expenditure a reserve which now totals £sllß has been established over the past three years. The reduction in electricity charges recently made by the Council and estimated to benefit domestic consumers by £IOOO per year became operative from April 1.