THE COUNTY’S FINANCES

Gisborne Times, Volume XIX, Issue 1537, 19 August 1905, Page 3

THE COUNTY’S FINANCES

STIRRING UP THE DEPARTMENTS

I Tho following financial statement was I presented at tho Cook County Counoil I meeting yesterday :—Assets : Outstanding rates, £484 10s ; email ocoounts, stone. oto„ £22 ; subsidies passod Troasury, £638 18s 8d ; land fund, six months overdue, £B6B 4s ad ; land fund now passed (oxpeotod), £BBB 7s 7d; special rates duo, £210; advances for grant works and Tologo loans, £904; total, £2906 Os 7d; balance to September 80th, £9068 17s 4d. Liabilities : Overdraft, August 19th, £10,841 7s lid; outstanding accounts, £284 10s; balance of oontraots, £326; required to September 80tb, say, £700; subsidies to Boards, £358; total, £11,959 17s lid. Now rato may be demanded by September 12th, 1905, and about £ISOO may be expeoted by September 30th, reduoing the I overdraft to £7553 17a 4d.

i I Tho monthly statement of aooounts I showed tho overdraft on August Ist at £9462 2s 9d. Collected : Goneral rate, £27 14s 03 ; speoial, £77 14s 6d ; ohoritable aid, £3 16s Id; interest. £2 Is; lioonses, £7 Is ; total. £llß 16s Bd. Required today, £998 Is sd. Advanoes, £994; subsidies due net, £280; land fund, £694. I In the disoussion whioh ensued comI plaint was made that the position was so bad owing to the delay in obtaining Government grants. A total of £2OOO had passed the Treasury, and was yet to oomo Ito hand. Considerable advanoes had to be made in anticipation of promised grants. Cr White said they had to pay interest I on the £2OOO not to hand, in the form of overdraft. Or Clayton moved that a telegram be sent to tbo Government pointing out the I loss incurred, some of tho money being 1 six months overdue. Cr Gray: And we have not sufficient money for payments due to-day. The Chairman said the' overdraft limit was £9OOO. It was resolved to send the wire as proposed. ! The Chairman sa'd with the Govern- 1 ment money m hami their position would I probably be better when they handed over I the aff - rs of tbo Counoil tbau when thoy I took office. Cr Murphy said they had taken the I overdraft as far a 3 thoy could, and were unable to do more. ‘ " I The Chairman said this year the legal overdraft could be £IO,OOO. The Clerk said from £IOOO to £2OOO in j rates usually came in in September. They, could not pay anything that day, unless,.’ perhaps, they drew £SO from the Motu loan account, and they wanted £IOOO. The Chairman Baid they would go on with tho payments. _ j " I think it would be a very bad state of affairs if we oouid not pay our acoouata," said Cr Harding. Tho Chairman : Yes; I suppose you will lend me a hand if I get stuck ? “ I will,” replied Cr Harding, and the payments were duly dealt with.