THAMES COUNTY FINANCE

Hauraki Plains Gazette, Volume XXXIII, Issue 4411, 8 May 1922, Page 4

THAMES COUNTY FINANCE

RESULT OF YEARS ECONOMY. r £2,000 BETTER OFF. CHAIRMAN'S ANNUAL REVIEW. The Chairman of the Thames County Council (Cr. H. Lowe) viewed the financial “position of che County as follows, at the monthly meeting on Wednesday: The statement of .the accounts of

the Thames County for the financial year ended March 31, 1922, is submitted for the Council’s consideration. The position shows that the 'total debt on all accounts other than loans amounts to £8232 12s Id’in the Cpun-

ty Fund, ant £1251 9s lid in the Water Race Revenue Account, or a total antecedent liability of £9484 2s. There were no outstanding liabilities of expenditure, all accounts for <he month of March having been paid. Several items in the general account 9 may he mentioned. as follows : I Thames to Waikawau road upkeep, I £4lB 9s lid. This road is a charge I on ail ridings in the County. Stock | purchases amounts to £229, of which * the greater portion is still unused. » The ’.mrcliase of the portable crushing plant from the Puriri ferry loan account ,as agreed under the adjustment'with the Hauraki-Plains County, is responsible for £426 6s Bd, but this plant will probably be used in the ■roads improvement scheme and therefore its cost will be transferred to the Loan Account. Repairs to Mata bridge, £330 10s 9d, and Puriri protection work, £235 18s 2d, are-both met by contributions from the timber companies concerned; whilst the Kauaeranga bridge repairs £241 5s lOd, is jointly provided by the County and the Thames Borough. Bank overdraft interest amounts to £392 14s, and public health £4l 19,s 2d; The Kauaefanga quarry, Omahu quarry, and motor truck working accounts are shewn as' balances by charges made to the various works. The principal items on the credit side of the General Ac- ! count are: rates, £4522 12s; subsidy, £500: licenses, £2ll 13s 6d; gold duty, £586 Is sd; timber halves petition contributions, £2O; contributions timber companies for repairs, £593 7s 9d ; stock sales, £147 Ils 8d ; and sale of horse and saddle, £23 10s. In- the Hastings Viding account the expenditure o.n side roads has been £l9l. 3s 6d. The expenditure on road works in the remaining ridings is as follows: Totara £474 Os 4d, Puriri J £489 14s 4d>, Hikutaia £796 13s Id, and J Tairui: £31,2 Is 9d. I Hospital’rates received amounted to I £1133 4s 8d and levies paid £llO4 6s Id. The water race revenue account debit is 9s lid, and the reduc.- ( tion of the debt from £2456 is partly I accounted for by the credit of' £925 from the Hauraki Plains and Borough adjustments accounts, and for the increased revenue obtained. The receipts being from power and domes- i tic supply £2lBl 2s 2d, and the ex- | penditure on the race and adminis- I tration £1919 8s 4d, Amounts outstanding on - March 31 include: Rates £336 Is 4d, sundry . debtors £35 ss, and -water race oharg- I es £2OB 3s 3d. In' comparing th 3 j position of the Council with that at the end of the previous year, it is found that whilst the' bank overdraft is greater the actual result is better, for on March 31, 1921, the .bank overdraft, was £6195 12s lOd. unpresented cheques, £495 19s 6d for the County Fund, and £2504 15s for the water race revenue, or a total debit of £9148 2s 9d, and accounts owing jf £l9OO to be met on- the first meeting day in April. At the close of this year the bank overdraft was as stated, £9484 2s, with all accounts paid to the end of March, and a credit balance of £644 7s 8d in separate ’

I works account, so that actually the l County ,is £2208 8s 5d less in debt I than at the close of the previous year. : By the Local Bodies Finance Act ! of last year the Council’s debts on j March 31 are now antecedent liabilities, to be paid off by loan. The Council therefore starts the new year with a clean sheet, and there is a credit balance in. the county ifjund of £B9 8s 3d and in the water race aci count of £3B 14s 6d, with refunds that can be made to their credits qf approximately £3OO, and outstanding amounts of £3OO for immediate collection, more than sufficient to mee.t accounts for April and. May. . COMPLIMENTARY COMMENT. The chairman congratulated the Council on the improvement in its financial position. He x agreed that more money might have been spent to'advantage on public works, but the whole of the available allocations had been spent, and ‘made to go as far a", possible. The Council would now' have to await the receipt of new rates before it could undertake any further work. The Council would still have to observe a policy of pract'cal economy, but no real progress could be made until, and unless the Government produced the subsidies and grants for the main arterial

road, and .enable the Council to utilise loan moneys sanctioned. If these Government moneys were forthcoming a rate similar to that of last- year would suffice, but the subsidies would need to be made available early in the spring. £3OOO had been spent on the main road, and if another £3OOO was spent the road would be in no better order next year.

“AH that rates can legitimately be expected to do,” said Mr Lowe, “is to pay for maintenance and administration. For new works loan money is absolutely necessary.”

Cr. R. Cp'x endorsed the chairman’s remarks, and expressed the opinion that the credit was largely due to the Chairman and to the Clerk (M” H. T. G. McElroy) fpr the satisfactory improvement made since last year.