PETONE'S FINANCES

Dominion, Volume 11, Issue 181, 20 April 1918, Page 2

PETONE'S FINANCES

BOEOUGH BALANCE-SHEET. At Monday night's meeting of tho Petono Borough Council a draft of the- annual balance-sheet was submitted by the Mayor, Mr. J. AV. M'Ewan; The Mayor stated that with tho exception of the general account and the gasworks account tho position was satisfactory. The debit of these accounts bad increased by .£IO9O and .£2lO respectively. The main receipts in the general account were:— Rates, .£7121; licenses, -G537; rents of municipal shops, ,£327; recreation grounds, .£127; dog tax, .£104; beach rente, ,£57; sanitary, £184; Government subsidy, .£150; sundries, £1106; total, £10.017. Expenditure: Wages, £2023; material, £273; beach expenditure, .£215; snnitnry, £G10; recreation grounds, £587; Hospital Board, .£1075; street lighting, £485; salaries, £762; advertising and printing, £252; bank iiijerest and-charges, £250; sewerage maintenance jE*S74: interest on loans, £1288; library, £148 Fire Board, £402;'■ sundries,. £182.6; total, £11,107. ' ■ ■ ■■ . In the gas working account, the principal receipts were: Gas ealcs. £10,602; coke, £1354; tar, £!S2; total. £12.683-an increase of £892.. Tho principal items of expenditure wero: Wages and salaries (manufacture .and distribution), £2v51; coal and freight, £5010; and, renewal of plant, £182; extension of mains and services, £380;, total. £I'2,SM. The debit had increased during tho year by £210. On account of the .increased cost of coal, whieh had risen 15$. 3Jd. per ton since 1911, the question d increasing tho price of gas and by-products would have to bo considered. The figures on account of tho coal yard were: Sales, £3134; oxpenditureJ£337G—a not profit of £58. ' ' ,

Tho recwpls on account of (ho motor service wero £2147, which, with added credits, brought the total to £2346; Tho expenditure totalled £2175, and included wnges, £723; benzine, oils, etc., £92G; and maintenance, £497. The balance to credit was '£71, and there'was a credit of £63 on the loan account. Aβ to .tho eeworago loan, the amount last raised was now exhausted, and tho account closed. Tho engines, plant, and timber remained as assets, and ehould realise £500, which would be available to comploto tho inslallation. The total amount owing under agreements and for cash jobs was £3566, and the balance of tho loan now ftood at £838. Tho Mayor intimated that further details relative lo tho schemo would bo submitted, at the next meeting. Outstanding rates amounted to iiW. The balance-sheet will bo considered at a later date.