BOROUGH FINANCES.

Hauraki Plains Gazette, Volume XXXIV, Issue 4555, 24 April 1923, Page 4

BOROUGH FINANCES.

e COMMITTEE’S REPORT. The Finance Comimttee submitted the following report to the Paeroa Borough Council meeting on Thursday last:— Your committee begs t,o report that the revenue during the month has amounted to £256 4s, and the expenditure to £562 9s 7d, including the attached accounts, which your committee recommends for payment. The balance in the District Fund account, will be £1416 Ils Id. The Town Clerk had his balances out on March 31, and has been unsparing in his efforts to bring the office work up-to-date, and he is to be congratulated on his early record. The finances generally are in a very heatlhy state. The Gsneral account shows a credit balance of £489 13s 3d, but this credit will be absorbed by special commitments, which will fall early in the new year, sue.n as the unpaid fire brigade grant, new by-laws, etc, but it is the first time in the history of the borough that this account has shown a credit balance at the end of the year. Administration expenses have been slightly reduced and revenue other than rates has been fairly well maintained. In spite of the increase in club fees, the domain • makes approximately the same demand on the general account, the debit this year amounting to £139 3s. The street lighting has cost rather more than was estimated, the expenditure for the year being £384 15- 1 6d. This account is. in credit £B4 18s 3d, which is, roughly, sufficient to meet present outstanding liability to the Power Board. The Sewerage and Road Loan interest account shows a credit balance of £760 8s lid, but heavy payments mature against this account next month, and ic will always be necessary to have this account in credit at March 31 in each year. The Water account continues to show that the purchase was a wise move, the credit balance amounting to £384 3s Id, against which there is £l5O due to the Ohinemuri Council. The hospital levies for the year have been heavy, amounting to £605 4s. The account has a debit ba'ance of £56 7s 3d. We are glad to knew that the levy will be somewhat lower next year. The £650 lf)an intereat account shows a debit'of £lO 4s 3d, and a small rate will be necessary next year. The Roading Loan account shows a credit of £l4 0s sd, but there is a transfer due to the general account, of £2B 0s lOd. The Sewerage Loan account is in credit £760 8s ll d > but P resent coin ‘ mitments will more than absorb this balance. The public debt stands at £23,263 16s Id, and this will, of course, be Increased as further loans are seemed. The Rate Statement is the only unsatisfactory part of the balance-sheet, there being a total of £1413 Is 2d in outstanding rates. The policy of the Council has been not to press unduly during the financial stringency, but. this position cannot continue, apt! we strongly recommend the incoming Council to take prompt, measures to, collect arrears of rates. The estimates for the next year are prepared and before you to-night. We recommend that the general rate Le the same as last year, namely, 3%d. On the figures supplied by our representative to the Hospital Board, we estimate that a %d hospital rate will be sufficient for the year—a reduction of %d on last year. We shall need a %d rate to covdr the electric light expenses,, which Will be a %<1 increase. No Reading Loan interest account will be needed, the credit balance being sufficient to meet expenditure dur-

I ing t,he year. | The £650 Loan Interest account will need a date. The total of all the ..above rate.: shows %d reduction on last year’s rate, but we have now to face a heavy charge on the sewerage loans and a rate of 2d will need to be struck, making an increase of l%d in all rates, due, of course, to the sewei age loans. We recommend the striking of these rates as suggested. The estimates and balances show that the Council has put its account on a proper footing, and the utmost that is possible is- now within the reach of the incoming Council. We recommend that, application made forthwith for a further £lO,OOO loan money for the current financial

year in order to proceed with the seweragi works. The report was adopted.