Public Debt Reduced

Bay of Plenty Beacon, Volume 12, Issue 51, 1 June 1948, Page 5

Public Debt Reduced

Whakatane County’s Finances In Review During the year ended March 31 last, the Whakatane County Council’s public debt has been reduced by £2411 8s 2d to £61,193 17s 6d, according to the annual report tabled by the County Clerk, Mr C. G. Lucas, and adopted by the Council at its last meeting.

Liquid assets stood at £lß,lll 15s 6d, a decrease of £3,157 2s, and fund cash at £16,133 Os Bd, down by £3,284 15s 9d. Receipts and payments for the year were respectively £74,119 6s 2d and £77,404 Is lid. Rates struck totalled £29,058 16s 3d. The collection percentage of the 1947-48 rates was, European 98.4 per cent (99.1 per cent the previous year) and Maori 62.79 per cent (59.16 per cent). The total rate collection was £28,464 12s 9d (£31,234 10s 9d). European arrears, all years at the 31st March last amounted to £379 17s Id (£324 4s sd). Including £6B 14s 5d paid direct to the Land Drainage Department, the amount of Native rates paid to the Land Drainage Department was £2,144 5s lid (£2,106 7s lOd), and the Drainage rate struck last year was £2,284 19s 6d (£2,123). Similar County figures were, struck £3,786 16s 2d (£4,125 18s 9d) and collected £3,400 2s 4d (£3,581 Is 4d). Galatea Estate rates for 1947-48 were unpaid at the balance date.

Government funds received, not including the Land and Survey Department payment on account of the collection of Native drainage rates, totalled £10,657 11s, compared with £12,500 14s 7d the previous year. Road expenditure totalled £24,861 (£22,122). Plant expenditure in the year under review was , £12,762 15s lid (£8,225 14s lid) and capital payments towards plant improvement in 1948-49 ape estimated at £6,900.