The Daily Telegraph. FRIDAY, APRIL 13, 1883.

Daily Telegraph (Napier), Issue 3665, 13 April 1883, Page 2

The Daily Telegraph. FRIDAY, APRIL 13, 1883.

The statement of accounts of the Borough of Napier for the year ending March 31 has just been completed, and front which we can compare the estimates for 1882-83 with the actual receipts. We omit shillings and pence : — Actual Estimates Receipts £ £ General rates .. .. 2,500 .. 3,139 Special rates .. .. 3,7-10 .. 1,202 Rents "100 .. SSO Licenses 1,(00 .. -1,037 Dog aud pound fees .. 210 .. 166 Fines R.M. Court .. 25 .. 32 Water consumers' rates 900 .. 902 Government subsidy (7s Gd in £) .. .. 937 .. nil Contributions fire prevention .. .. 150 .. 150 Miscellaneous .. .. 100 .. 100 Balance special loan .. 13,549 .. 13,549 Probable overdraft March, 31, 1883 .. 2,556 .. 4,700 Mortgage of sections .. .. 2,000 £26,777 £31,499 From the above it will be seen that the general and special rates had been underestimated by £1091, and by the side on deferred payments of some reelaimcdswamp sections the item "rents" produced £456 more than was calculated upon. The re, maining estimates are very close to the actual receipts, and show the care taken in the estimation of the borough revenue. A Government subsidy ay-is reckoned upon of 7s 6d in the £, but this having been stopped it was a fortunate circumstance that a more than equal amount was collected in special and general rates in arrcar. The probable overdraft was estimated tit £2556, whereas it now stands at £4700, in addition to the sum of £2000 borrowed by way of mortgage ou the reclaimed sections. In what way the "constable was over-run" to the extent of over £4000 will be shown by a comparison of the estimates of expenditure with the amounts actually spent : — Estimated Actually Expenditure, spent. .£ , £__ Refund overdraft .. 5,977 ..5,977 AVater Extension .. 10,000 .. 11,-Uo Interest ou loan .. -1,200 .. 4,200 Sinking fund .. .. 7<o .. ";> Survey of town •• -;'" •■ :*;> Water maintenance .. /00 .. (OJ Fire prevention .. ; J __'o . - <»_& Salaries M™ •• I>l'1 > 1 ' 2 i Lighting streets .. 440 .. .»1-1 Election expenses .. ->•> . • »3 Office charges .. .. 300 .. 301 Street maintenance .. 2,000 .. 4,/63 Botanical gardens .. 200 .. 217 Hospital subsidy .. 200 .. Nil Miscellaneous .. .. 150 .. 158 £20,777 £30,913 The difference between the estimates and the amounts actually expended is £4136. More than half of this sum is made up in the cost of street maintenance. _ The details not being at hand it is not easy to account for this extraordinary excess of cost over estimate. This time twelve months ago the balance of the special loan was paid into the general account on the strength of a resolution passed by the Council that the works for which the money was borrowed had been completed. The estimates were not made out till thy July following, aud then it waa'

supposed that £2000 would be ample to cover the cost of street maintenance. AYe now find that this item has mounted up to £4763, a fact that, perhaps, warranted the recent action of the Council in the curtail-

ment of the powers of the engineer. The next item that has largely exceeded the estimate is the waterworks extension supply ; hero ive find a difference of £1445. This is evidently the result of a misapprehension ou the part of the Town Clerk ; for although the site of the reservoir cost £400 less and the water-pipes £2 a ton less than calculated upon, when the plans were submitted to Mr J. Stewart the alterations he suggested necessitated revised estimates. It is no _ fault of the Town Clerk that this revision was made after the original estimate had been furnished him. There is one more point requiring notice. It will be seen tbat the interest on the loan and the animal sinking fund amount altogether to £1975. To pay this the Corporation has only the receipts from the special rate, which aro actually insufficient to meet the interest. The sinking fund, therefore, has to be paid out of general revenue, which seems to bear out the contention of some of the councillors that, in calculating tho proceeds of the special rate, a sufficient margin was not allowed. The finance committee will no doubt have very shortly to consider this question, and the Council decide whether the general revenue will be able to bear this strain. It must bo remembered, however, that the valuation of the borough is not likely to remain stationary, but that it will increase, it is to be hoped, year by year. This year's valuation stands at £G0,305, the special rats upon which is £4576 17s, or only £399 below the sum required to meet interest and sinking fund on tho loan. AYe think the general revenue should be made to bear this small drain, rather than that an extra rate should be imposed.