SATISFACTORY POSITION

Hawke's Bay Herald-Tribune, Issue 107, 22 May 1937, Page 9

SATISFACTORY POSITION

Taradale Town Board Finances REP0RT BY THE CLERK A aatisfactory position in shown in the finances of the Taradale Town Board and for the year ended March 31, 1937. A small credit balance -of £27 is shown in** the general acconnt as against an estimated debit blance. The assets are estimated at £30,378. The public debt totals £30,102, which includes an inscrib^d ■ loan, workers ' dwellings |loan, public works, oarthquake rehabilitation, earthquake dam* age and conversibn loans. In submitting to the board laat -night the balance-sheet and accounJts, the clerk, Mr, W. G. Jarvis, reported w. lows — ".A glance at the peparato acoounts will show that, while there is rbom for further improvement in the conversion loan interest aeeount and the special loan interest accqunt, pn the whole the finances are in a sound position. The public debt was reduced bjr #667, while the acerued sinking' funds inoyeased ty £469. r a ' f { The general aecQuntVj60mineiiced the year with a credit balance of £99 and ended with a credit of £27, while a debit jbalance of £35 at March 31, 1937, was estimated. "The Hospital Board acconnt eommenced with a debit of £53 and finished the year with a debit of £49. The estimated receipts for rates were not realised, "The main highways aocpunt shows a debit balance of £458. This is accounted for through the usual subsidies not being credited before the close of the year, The workers1 dwehing loan interest acconnt Nro. 1 ehows a credit of £342. "The special loan * interest acconnt debt balance was reduced from £83 to £75. Receipt of outsfanding rates would practically wipe out this indebtedness. Tfie ea-thquake damage ioan account shows a credit of £86, ' 1 The conversion loan interest aeeount commenced the year with a debit of £495 and ended with a debit of £471. The position of this account will improve only by increased income from advances made for housing, or an increased rate. "The statement of rates shows that outstanding amounts on Mardi 31, 1936, amounted to £393. This amount increased to £475 at the close of the fmaneial year. Rates totallingi £40 were written off as uncolleetable on properties which had reverted to the State Advances Office as mortgagees "