BOROUGH FINANCE.

Gisborne Times, Volume XXV, Issue 2051, 11 April 1907, Page 1

BOROUGH FINANCE.

AN NU A L B ALAN CE-SH EET.

Following is a digest of the balance sheet of the Borough Council to March 31st. GENERAL ACCOUNT. RECEIPTS.

General rates 6882 11 10 Government subsidy on' rates -120 18 0 Rents f. -180 9 0 Fines 17 18 0 Fees 1278 3 0 Miscellaneous 593 13 7 Abattoir fees 1586 3 6 Refund from interest nc. 1 14 1 Referred bridge loan ... 8 19 6 Balance March 31 2592 11 2 Total 13.863 14 8

EXPENDITURE.

Balance April 1. 1907 ... 3577 12 8 Office expenses ... 756 7 7 Streets ... 5736 11 2 vr. —err Tr.- —»oa~iu—TSanitation 1025 5 1 Hosp. and Char. Aid Bd. 340 J 0 Pound expenses ' 65 1 (5 Property and reserves ... 137 17 h Cook memorial -11 8 6 Interest on overdraft ... 20 3 0 Wai-o-lii Hororc 11 1 4 Miscellaneous 17 19 0 City band concerts. 40 0 0 Exhibition 30 0 0 Audit fee 8 6 S Dog tax collection 12 11 6 Bathing- sheds 51 19 10 Licensing 108 8 0 Temp advance sp. loan 150 0 0 Abattoir ... 1238 0 6 Abattoir int. ace 158 19 4 Refund Adair Road ... 20 0 0 Total 13,863 14 8

Deposits totalling £790 were received from contractors, and £llO had been returned.

The freehold property entered in the previous balance-sheet at a value of £O6O had been sold for £I2OO, which amount was transferred to Loan Account No. 4.

Of the £5.500 borrowed for the Roebuck Road Bridge, £124 7s 3d was transferred to. interest account, £275 was paid for the making of tho approaches and £BB9 for the erection of tho bridge, £8 19s 6d was repaid to the general account and £6O 17s Od was spent on sundries, leaving a balance of £4141 15s 9d.

The loan of £B2OO was repaid with £I2OO received from t|ie sale of real property, £2500 from sinking fund and £4500 from debentures.

At April Ist, 1906. there was a .balance of £1922 8s 5d on the Waterworks loan account and a further £25,000 had been receive}] opt of the loan, The expenditure was: Interest account £593 15s, commission engineer £707, inspection £215 5s lOd, miscellaneous £2O 16s 7d, advertising and printing £7l 16s, contract main pi pc line ' £12,7:58. contract reticulation £11,187. The balance at the end of the year was £1298 15s. There was a balance of £lO 0s Id on Kaiti Bond District interest account, No. 1, and rates collected amounted to £39 Its lid. The sum of £39 Is 6d wa spa id to the County Council, aiif} a balance remains of £lO 10s 6d. The WTiataupoko Hoad District interest account shows a balance of £6 6s. £43 having been collected and £36 14s paid to the County Council. The Kaiti Road District interest account, No. 11l shows a balance of £l3 11s 3rt.

The following credit balances arc disclosed : Waterworks Bonn £1298 15s, bridge loan account 45414 1 15s Oil, contractors ' deposits £6SO, special loan interest VIII £127 15s Bd, XI £lO 10s 6d, XIII £l3 Us 3d. XII £6 6s. At the Bank there is a credit balance of £4141 15s9d on the

bridge loan and of 18s llj] tjl) the waterworks loan, and there was a debit balance of £456 11s Sd on tindistrict fund account.

The assets of the Borough are estimated at £23,724 12s 7d and, the dial)i 1 ities at £43,870 11s Id. The annual rent derivable from reserves and freehold property is £473 9s and this sum was received during the year. The total indebtedness of the Borough at March 31st was £49,484 12s 4d. At the beginning of the year £45 15s 5.s in rates was outstanding £6984 17s od was struck or recurred, £6991 0s 3d was collected during the year and £39 12s 7d was remitted or. outstanding at the end of the year.