CITY FINANCES.

Dominion, Volume 6, Issue 1726, 18 April 1913, Page 6

CITY FINANCES.

ANNUAL STATEMENT.

CREDIT BALANCE; :OF £1637.

" GO-SLOW " POLICY FORECASTED.

A statement of the general financial operations of the city during the year was submitted to the City Council last night by the Mayor (Mr. D. M'Lurcu). The Statement was not read, but was placed in ' the hands of councillors, and was adopted practically without discussion. In the statement, the Mayor said:—"l submit herewith a statement of the general financial operations of the year., This shows that, after providing l'or all expenditure, a credit balance remains of .C 1637 Bs. dd. As we had contemplated concluding the year with 11 debit balanco of about ,£2000.1 think the result of the year's working must be taken as satisfactory. I congratulate tho officers of all departments, the'several committees,' and the council itself on the fact that our. actual expenditure has come out so close to . the estimates adopted at the commencement of the year. The statement of special receipts and expenditure' attached also shows satisfactory results, for though the excess of expenditure over receipts is XM3I Ills. lOd. that is more than balanced by tho value of proper,ties , purchased for widening . Willis ■ • Street, .011,302. Our bank balance is in credit •£2551'95. Id., and as the whole of the' bank accounts set out are taken, ' together we are saved any payments of interest charges on our overdraft. "At the beginning of tho year I did not.see it necessary to increase our revenue by means of added rates, as the then state of trade'in the city did not in iny judgment,warrant such a. course. For Muck the same reason I could not regard it as a proper time to launch out on any undertaking which involves tho raising of loans; indeed, considering that more than one-third of the rates at present.go, iii payment of interest'charges on loans I am of opinion that the city .will bo wise to go slow and steady in regard to borrowing for some time yet. In this past year tho following special expenditures have been met out of revenue:—New Zealand Academy of Fine Arts, £1000; accident claims (extraordinary), ,£1000; Kilbirnie Recreation Ground, .£1872; forming Lyall Bay Reserve, *61378; land at Maranui, .£450; fish market building, .£375; Lyall Bay Surf Club shed, ,£151; Tea. Kiosk, Newtown Park, .£692; forestry department, ,£150; reserves inquiry, .£SO; compensation. (Easson),' ,£458; total, " , '

"The restricted general expenditure during the past year is mainly made np of the ,£112!) less spent on street works than was estimated for the year to be expended. I would have preferred to see that amount spent on the streets, as this is one of the most needfftl works.' I trust that the credit balance of the past year will be added to what is allowed for street works for the current year.. 111 the districts of Wadestown, Northland,' Kelbunic,. and some parts of Brooklyn, more attention to street works is'required, ami this car,rent year will require to' see a largo expenditure 011 such works of real necessity.

"Altogether I think the year's financial operations are shown'to have been carried out on'the lines of, steady and careful 'policy;' which we set out with at the commencement, and I' take this opportunity to congratulate the council upon the results of this term of service." 1

The figures given in the statement were as follow (shillings ; and pence beiu'» omitted):—

Ordinary Receipts, ■'- '. '•:-"■'£ i Rates ; 153,984 ;-.-■ Rents ; : 29,635 Licenses 5.982 ; Building fees- i ......; §4S j- Waterworks ".... '.'..;.„'...... 13,6-10 Baths , • 656' Town Hall 3.12.5 ' Libraries 854 ' Government subsidy .150 j Fish market . ; SO2 ; ~..„ .....,; ...... .1,011 ■ Crjinatorium" .'.....„..'.'.."..'.,.„.'..'.,.. ( 67 : Public 1avat0rie5.:..........-...'.:....:.-... ■ ...159 ! .l-'eex\from reserves .... 609 -.I'V.js from Zoo .;'.;....-....;... ' .•. VBB' , ' liiterest received ; 425 ;- Casts of summonses repaid 120 Fire brigade repayments ..:....;:... ,405 Miscellaneous 1.749 Gas Company, annual payment ... . 290 ; Sinking Fund Commissioners ' 200 ■, ■.''•■ 216,397 ; .... Ordinary Expenditure.. ''■•■'■ :'..'-■ £ ' I § tre(! t .works- .•,.«.ii.i.:„ 31,413 hcavengmg and street watering,.;; :, 8,469, I Collection.and destruction refuse'... 6 960' :■ town Hall 5 V 2 [ Drainage; .'......, '-.-. """■'" K ' 97() j Firo brigade' ;......-.../"' ?',„ .1 Waterworks- . " ; """ J'S? •■:■ Street lighting . " ■ 3^ City; re5erve5".....;...:... : ;;:: ""V. .«■£« salaries; ......" r T " i'S' i Baths ......... -- 7 -<™ ! Public lavatories and bathing-sheds '' 988 ; Libraries ....'...........,;......- V>"l Sanitary services '.'.'!.'.".' ■■'""• |'™ Cemetery -...;/";, ...i'J'S ; Crematorium. .....;. . ... ' 0 7, Fish market ■ .". " oj, :. .Hospital and Charitable Aidinstalments ; 10078 ; instalment and - interest-Maramii" ' Quarry ..;. , ... j fl( >- - Expenditure on Zoo ]!!.'l.'.'.'.'".'.'.'..'.'".'.' 'i' 752 i Cost.of summonses , ".""""!.. .'im i- ..Dogs-Col!ars and food .....'.'.'.'.'.'.'."'. in ; Repairs to corporation property ..." 858 .Motor workshops . ,j;y, Hutt Road maintenance '....' """" -ji !'. Technical School .:...'. .'."." 'j CO : li«"tingr, advertising,and stationery' V '865 :■ £•?•'. Academy of Fine Arts .....'...'. 1000 Subsidy to city bands 150 , Cleaning, etc., Morgue 5a ; Public Health jj? ; Accident claims .....'.;'......'. '. 1-322-Kilbimie Recreatio.ll Ground ."!:"'!' rs?> ; forming Lyall Bay Reserve -... 1378 . Lrites—Lyall Buy .....,.......; 139 Miscellaneous * .'"„, 7,278 ; .Interesting on loans 1 -.....'.,...! 41U75 Sinking'funds- ; : ; . 5 .,- 7 Credit balmu-o .", -j*g,'J7 -■'■-. .£216,397 . , ,- Special Receipts. Balance from ordinary receipts ': .i - and expenditure account 1,637 Sale of properties. Newtown■■ 339' Deposits from contractors and plumbers- 4.521 Deposits under Municipal Corpora- ' i lions Act, IMB 07,170 i Repayment.-i lor private drainage ... 200 Balance, .being excess ot" expenditure over receipts 9,431 ; ' ; .i .£80,308 Special Expenditure.—-Purchase for property for widening Willis Street, .£11,3G2; deposits r?turnrd (contractors and plum- >'. hers),. .£5922; deposits returned under the : ' Municipal Corporations Act, 1908, .£60,584; land, Maranui, .£150; damages, Easson, ;' '-JC4SB;-Fish Market, building,',£47s; Lyall Bay Surf Club shed, etc., ,£151; the I Kiosk building, i£632; Forestry Department, .£159; reserves inquiry, ,£SO. Total, .£80,300. Bank balances on revenue accounts for the year ended March 31, 1913—District fund account (dr.), ,£19,216 18s. Bd.; Abattoir account (cr.), <£12-5; electric light account (cr.), ,£5820; tramways' account (cr.), ,£11,265; general accident fund account (cr.), .£2559; tramways and lighting, accident fund account (cr.), .£1994; net credit balance at tank, .£2554 9s. id.