BOROUGH RESERVE ACCOUNT

Hawke's Bay Herald-Tribune, Issue 146, 8 July 1937, Page 6

BOROUGH RESERVE ACCOUNT

Work Achieved and Consequent Savings MR. MADDISON'S SURVEY During recent years a considerable nuxnber- of capital works have been earried out by the Hastings Borough Council under the heading of "supplementary estimates," anu these have oe.en made possible out of the Reserve Pund Account, the main sources of levenue of which are the Hawure's Bay hilectnc Power Board 's purchase instaiments of the borough electricity department and the Surpiuses of the general and other ordinary accounts. iu his annual review of the borojgh linaneoa the Mayor, Mr G. A. Maddison, deals compr'ehensively with this reserve account and aii'ords the citizens an insight into the work that has been made possible by this aecount, and the consequent savings. At the date of the sale to the Power iJoard of the ele ctricui undertatimg, a lump sum of £11,247 3/4 was received, waich togetker with the surplus already in hand, made a total of £25,045 10/5 available for expenditure for the year 1934-35. During that year £17,704 16/S was spent on capital works, leaving a balance of surplus funds of £7340 18/9 at March 31, 1935., To this latter amount must be added the sum of £5911 18/7, being the excess of income over expenditure on the ordinary working accounts for that year. This amount was budgeted for when the estimates were prepared. Surplus fauds, therefore, amouuted to £13,252 13/4 at March 31„ 1935.

For the next year, the following funds were available: — Surplus for 1935, £13,252 13/4 and Power Board instalment £4236 ,15/2, a totai of £17,489 8/6. Capital expenditure amouuted to £10,546, leaving a balance of £6943 8/6, to which must be added £384, being excess of income over expenditure in ordinary working accounts, making £7327 8/6 surplus at March 31, 1936. For the year 1936-37, the amounts available for expenditure were as follows: — Surplus, 1936 £7327 8/6, Power Board instalment £4406 14/1, publicrisk fund transferred £301 12/11, balance and abattoir rcalisation account transferred £599 18/-, a total of £12,635 13/6. Capital expenditure amounted to £8359 5/5, leaving a balance of £4276 8/1, to which must be added £3769 17/11 excess of income over expenditure in ordinary working accounts, making £8046 ?/- surplus funds at March 31, 1937. "In explanation of the excess income of £3769 17/11, 1 would state that the council received several eums during the year not budgeted for, ' ' said Mr. Maddison. "For instance, a 95 per cent. collection was received, which is equivalent to approximately £900. In addition, petrol tax allocation exceeded the estimates by £9'00. The sale of land accounted for £643 and licences and dog tax collected exceeded estimates by £500. The surplus available for the year 1937-38 is as follows:—: Surplus March 31, 1937 ....8,046 6 0 Power Board Instalmente 4,420 15 2 Sale of Land 350 0 0

Where Money was Spent. For the iuiormation of tbe ratepayers, the following Jist of works done out of the inoneys received l'rom the Power Board and surplus money placed in tbe reserve account has been coinpiled, and it should be noted that these items of capital, expenditure were not provided for in the ordinary estimates: 1934-35 (amount available £25,045 10/5). — Women's Rest additions, £647 ; purchase of truck £647 ; purchase cycle (Traffic Dept.) £60 15/-; road construotion £8134 10/5 ; paths construction £695 7/8; piping drains £254 1/11; concreting Nelson street drain £124 13/11 ; tarring paths £1125 15/6; weJl at Windsor Park £98 12/2; bridges at Windsor Park £94 4/4; Wells at Cornwall Park £113 - 4/7 ; Aviary at Cornwall Park £68 12/9 ; canoes and housing, Windsor Park £40 16/1; lake at Cornwall Park £433 3/-; kerbing main drive Cornwall Park £124 7/9 ; new bird pens £40 4/2; band rotunda at Vietoria Square £375 1/5 ; ^new" conveniences at Windsor Park £155 12/2; paths at cemetery £42 9/-; grant to Aero Club £250; Clock Tower (preliminary) £71 5/11 ; purchase of land for Civic Square (Rivers £1224 9/3, Room £735 2/7, Thompson £1340 5/-) £ 3299 16/10;. Loan Conversion exes. £244 11/11; new floor and piano at Assembly Hall £320 8/7, painting Municipal Chambers £243 0/10. Total, £17,704 16/8. 1935-36 (amount available, £17489 8/6). — Purchase of plant (car, truck, and balance of rubbisb truck) £884; Oiock and cloek tower £1596; alterations Women's Rest £42'3; road construction £1453; paths construction £1165, reserves £505; sewer outiall sckeuie. £225; revalualiou of borough £350; change-over niotors D.C, to A.C. £396; grant Aero Club £100; Colfix roads £1750 ; att'orestation £97 ; renovations library £93; repayment £8000 E.L. loan £1509. Total, £10,546. 1936-37 (amount available £12,635 13/6). — Purchase of land at Cornwall Park and Civic Square (Mrs Tosswill £360 19/6 and A. A. George Estate £1748 14/6) £2109 14/-; clock tower £270 11/5 ; road sealing £4172 2/11 ; patks construction £310 18/- ; reserves plant and improvements £980 8/5; development Civic Square £16 3/3; cost raising sewer loan £146 13/3; tbeatre conveniences £260 14/2; cemetery shelter £92. A total of £8 359 5/5.