BOROUGH FINANCES.

Hauraki Plains Gazette, Volume XXXIII, Issue 4405, 24 April 1922, Page 4

BOROUGH FINANCES.

SPLENDID POSITION. OVERDRAFT COVERED. .NO ANTECEDENT LIABILITY. The following very-gratifying report by the Finance Committee (Cr. W. Marshall chairman) was submitted to the Paeroa Borough Council at the monthly meeting : "Your Committee begs to report that during the month the revenue has been £926 18s id, and expenditure £162 18s'9d. Including the attached accounts, which your Committee recommend for payment, the balance in the District Fund account will amount to £B7B 13s 6d. “The balance sheet for the year ended M,arch 31, 1922, is complete and before you to-night. The position of finance generally speaking is highly satisfactory, the Borough being in the fortunate position of| having no antecedent liability or overdraft.

The General Account shows a debit balance of. £305 13s 7d, but there ars uncollected rates amounting to £450, approximately. Therefore the debit on the General Account has been extinguished, and the whole of this year’s revenue will be available for expenditure ; this will be a distinct improvement on the. position whicn ha-, obtained for the last three years. “The general expenditure has been satisfactory, the legal expenses being particularly light, only amounting to £l2 13s sd, except that the Rivers and Thames Harbour Commissions were unexpected expenditure, amounting to £2Ol 4s 43. The debit on the Domain Account was £139 17s 4d. These two items were a heavy drain on thr General Account. It is desirable that the Council consider the reduction of the expenditure on the Domain in the present year. . “Owing to the improved financial position the bank interest chat ges were light being only £39 7s 3d. We recommend that a general rate of 33/id be struck for the year 1922-23. "The Street Lighting Account shows a credit of; £157 Os sd, but there are outs'anding. charges amounting to £9O, approximately. The Ligh't’ng Account is going to be heavier than was expected but very good value is being obtained for all that is spent. We recommend that a ra f e of %d be struck for this year. “The Hospital and Charitable Aid Account shows a debit of £139 4s 4d. Owing to the fact that the levies were made higher than was anticipated at ■rhe commencement of the year a hospital rate has not been collected r oi’ two years. We are informed that the levy will be higher this year, I amounting to £605, ,and with the debit balance to make .up it will be necessary to collect a rate of l%d for the ensuing year.

"The Water Account is again sat isfactojry. Af.ter paying £3OO on account of purchase from the Ohinemuri County Council, and 1 £5O towards administration expenses, 1 credit balance ofi £132 4s 2d is shown. "The £650 Loan Interest Account has a balance of £3O 5s lOd, and as. the charges will only amount to £4O 14s, we do not recommend the striking of any rate this year. "We shall require a small amount to meet the interest and sinking fund on account of the Roading Lp.an, o' £lOOO, raised last year, an’d we suggest that a roading loan interest rate of %d be levied. "Tim Sewerage Loan interest account is £979 Ils in credit, and as th’? amount, with outstanding rates, will be sufficient to meet all charges arising during the year, we suggest that, owing to the financial stringency. it is desirable to make this year’s rates as light as possible;

therefore no rate should be struck fjor this account. “The amount of outstanding rates has been very considerably reduced, .and special credit is due to the town clerk for the efforts he has made to collect rates. Owing to his tactful efforts the resolution to prosecute all defaulters has not so far been given effect, to. We are hopeful that the town clerk will be successful in collecting the balance overdue, and that this year the position will be still more improved. We do. not see any reason why all, rates should not be collected here, the same as is done, for instance, at Te Awamutu, where for three years every penny has been collected, and it is absolutely necessary for us to aim at doing likewise. We recommend that certain uncollectable rates, as per separate list, be written off. “The estimates for the present year

have been prepared .and' are befpie you to-night. They include £2OO for contingencies, which is absolutely necessary under the new Finance Act, and there will be a sum o 1 ’ £1679 12s 2d available for public works. This is greater than the amount spent ,on public works last year oy £662, which is approximately a 60 per

cent, incr/ease. "The balance-sheet for the year ended March 31. 1921, is back ftrom the Audit Office, and is on the .table tonight.

"We are pleased to report that the balance sheet and accounts- for the year just ended were reported to your Committee by the town'clerk on the evening of March 3L ■ and we congratulate him on the fac.t that his work was right up-to/date, this being of great assistance to.tbe Committee. “Application has been made for a further sum of, £BOOO for sewerage, and £2OOO for roading, and a reply has been received stating that the limit-is £5OOO for the year, and suggesting that the amount asked for be reduced.”

His Worship the Mayor (Mr P. E. Brenan) said the position was_very satisfactory. Three years ago the Council was £4OOO behind, yet the finance was now “all square.” If future councils continued on the lines adopted by the present Council there would be nothing to stop the

town from progress. Cr. E. Edwards (Deputy Mayor) said the Finance Committee was to be congratulated on the report it had been able to produce. Cr. W. Marshall (chairman of the Finance Committee) said there would be £6OO or £7OO more now to spend on public works. There was no one more joyful that he that the position of the borough financially had been retrieved, in spite o-( a debit of £4OOO three years ago. The bank overdraft was fixed at £2500-. on the understanding that should the Council require more at any time it would be forthcoming on a renewed application.