NEW VALUATION OF COUNTY UP OVER £2000

Bay of Plenty Beacon, Volume 15, Issue 49, 26 May 1950, Page 5

NEW VALUATION OF COUNTY UP OVER £2OOO

Although the new rateable capital value of the county is not yet available the unimproved rateable value following the recent revaluation is £1,277,573, an increase of £237,042, states the treasurer, Mr C. G. Lucas, in his yearly report presented to the annual meeting of the Whakatane County Council. This figure is subject to objections. In assessing the suggested new general rate for the year of 4 3-8 d in the pound Mr Lucas pointed out that he has taken into account someobjections and has worked on' a rateable value of £1,220,573 The report continues . that the County receipts for the year closed in excess of what was anticipated, Credits were realised which were not included in last year’s estimated receipt. These came to a total of £7,800.

There was an expenditure of £90,833, which was less than anticipated as provision was made for the cost of revaluation £IOOO and building inspection £llOO. In addition the Council’s proportion of highway expenditure was estimated at £4,016, whereas the actual expenditure was £2,102. Similarly the Cotmcil’s proportion of grant expenditure was estmated at £2,505, whereas the actual expenditure was £1,256. These items also had a material bearing on the improvement in the cash account balance by £9,524 3s 9d. The report concludes that a cash credit of £20,000 to £24,000 is not without value as it enables the Council’s operations to be financed without recourse to overdraft. The present surplus in excess of requirements to the extent of £3500 is to be utilised on capital works of the current year’s estimates.