PETONE BOROUGH FINANCES.

Evening Post, Volume LXXXI, Issue 96, 25 April 1911, Page 2

PETONE BOROUGH FINANCES.

SURPLUS OF £511 6s Bd. The financial statement of the Petone Borough for the year ending 31st March, 1911. was submitted to 'the council last evening. On the year's working a credit balance of £511 6s r ßd was disclosed. ", CREDIT BALANCES. The amount to the credit of Ihe credit balances account was £1381 4s lid, being made up as follows : — Wharf loanj £698 ; recreation ground improvement loan, £470 10s ; waterworks loan, £60 18s 8d ; Wilson-street drainage, £161 16s 3d. GENERAL ACCOUNT. The position of the general account was ac follows (shillings and pence omitted) : — Receipts : Rates £6388, licenses £246, dog tax £173. municipal shop rents £331, Petone Fire Board £62, library £74, Tecreation ground £54, sanitary railway workshops £111, building permito £48, Government sub-; eidy on rate 3 £787-, oharitable aid refunds £50, ambulance wagon £175, cundry receipts • £315 ;— total, £9024. Expenditure : Salaries £613, printing and advertising ''£l4l, law costs £36, Fire Board levy £303, maintenance Hutt road £226, general maintenance £2455, charitable aid expenses £35, recreation ground £261, sanitary service £1766, street lighting £350, library £134, ambulance waggon £175, accident insurance £60, interest and sinking funds £1525, sundry it-erne of expenditure £414 surplus on year's w.ork £511 ;— -total, £9024. WATERWORKS. Receipts: Rates £1371, Government railways for water supplied £200, Woollen Company £50, sundries £89. Expenditure: Wages, etc. £548, interest and sinking fund £1005, surplus for year £156;— total, £1710. HOSPITAL' AND CHARITABLE AID. Receipts: Rates £973;— total, £973. Expenditure : By levies £968, balance - credit £4;— total, £973. ' GASWORKS ACCOUNTS. Receipts : Gas sales £6162, coke sales £831, tar £228, lighting (sheet) £350, sundry receipts £243, gas fittings £438 : —total, £8249.' Expenditure: Wages £1804, coal £2140, repairb and renewals £73, freight £646, management £343, sundry expenditure £141, gas fittings £457. street lighting £235. gross profit £2407 ;— total, ' £8249. Allocation of gross profit of gasworks — Receipts : Gross profit £2407, by balance £100;— total, £8507- Expenditure: Meters £335, mains £332, coal shed £83, new services £160, new concrete floor £13, oxide floor £5, interest account £940. sinking fund £139, balance forward £489;— total £250. OVERDRAFT REDUCED. It was explained by the Mayor that there were several amounts due to the general account not set out in the bal-ance-sheet. That, which included £650 due from the Government on account of the eastern drainage and outstanding rates to the amount of £152, aggregated £1437. Reviewing the general position of the finances, Sir. M'Ewan said that, whereas the overdraft on 31st March, ISIO, was £4371, this year the account was only overdrawn to the extent of £2243. * Councillor Piper : Do you mean to say that \v» have improved our position to the extent of reducing the overdraft by £2000 odd? The May»r : That i* the actual po*itien according to tho bank-bock. Th* amount, he explained, included a turn of £250 held on account «f tht fir* brigade station rebuilding fund. Credit was due to the officers for th* way in which they had husbanded th« borough's resources.