FRANKLIN COUNTY FINANCES

Franklin Times, Volume 9, Issue 725, 26 April 1922, Page 5

FRANKLIN COUNTY FINANCES

COmiViITTEE’S REPORT. At Wednesday’s meeting of the Franklin County Council 'the report of a meeting cf the Finance Committee was received and adopted. The committee recommended that accounts payable amounting to £4559 7slid on the County Fund Account, and £744 8s 7d on the Loan Account be passed for payment.

The treasurer’s report on the various banking accounts was adopted. The overdraft on the County Fund account at 31st March, 1922, was £10,204 16s 6d, and this amount had now been transferred to a new account called “The Antecedent Liability Account.” The credit balance of the new County Fund Account was reported as £227 5s 2d.

The clerk tabled a summary of the receipts and expenditure of the various Ridings for the year ended 31st March, 1922, and also a draft of the balance sheet! of the County for the same period.

The Finance Committee recommended that in accordance with the Local Bodies Finance Act, 1921-1922, the Council should pay off its liability of £10,204 16s 6d in seven annual instalments out of revenue. This was agreed to.

The Council resolved to make the usuel certificates required by the bank relating to the overdraft limit for the current year.

It was resolved that the chairman, Crs Woods and JDean be a Finance Sub-committee to furnish a special report to the next meeting of 'the Coundil on the estimates of expenditure for the forthcoming financial year.