BOROUGH FINANCE.

Hauraki Plains Gazette, Volume XXXVIII, Issue 5120, 2 May 1927, Page 2

BOROUGH FINANCE.

OPERATIONS FOR THE YEAR.

SATISFACTORY POSITION SHOWN.

The financial positon of the Paeroa Borough Council was placed before tlie members at tlie last meeting, when the Finance Committee presented the following report:—

“Your committee begs to report that during the month the revenue iias amounted to £3026 13s Hd, including £2lOO refunds from loan accounts. The- expenditure in this account has amounted to £3487 4s Bd, which includes £2200 advanced to various loan accounts.

“We recommend that tlie attached accounts be passed for payment, after which the credit balance in the district fund account, plus the above advances Will amount to £2795 Is 9d.

"The expenditure, during the month in tlie various loan accounts is as follows : Street Improvements Loan Account, £1374 7s 4d, including refund £lOOO ; Sewerage Loan Account, £692 17s 2d, including refund of £550 ; House Sewerage Connections Loan Account, £577 4s 6d, including refund of £550.

“We recommend payment of the accounts presented in the statements o-f the above loan accounts, after which payments the respective positions of same, exclusive of advances made, yill be: Street Improvements Loan Account, debit £l5ll 15s 6d; Sewerage Loan Account, Credit £292 19s lOd ; House Sewerage Connections Lean Account, debit £7ll 4s lOd ; Domain Improvements Loan Account, credit £3 14s Id ; Council Chambers Loan Account, credit £43 10s Bd. “The balance-sheet and rate statement is before you to-night, and we recommend the adoption subject to audit. We congratualte the town clerk on having the figures out with his usual promptitude.

“The balance-sheet generally disclose a satisfactory position, with credit balances in the following accounts : General £930 12s Id, water £lo'BB 5s 7d, hospital £7 7s, contractors’ deposits 10s, war memorial £99 9s 6d, Ngahina. wharf £326 Is, sewerage loan £374 7s, domain improvements loan £3 14s id, council chambers loan £43 10s Bd, sewerage loan interest £589 4s Id, street improvements loan interest £l5O 5s 2d. The following accounts show small debit balances: Street lighting £5 17s Id, financial adjustment loan interest £7 5s lOd, domain improvements loan 16s lOd.

“The. above position, in our opinion, is satisfactory, especially as to the general account, which is the most important, having to meet all maintenance andsother charges. “The policy adopted by this and past councils of keeping credit balances in the. various special accounts has been a sound one, and enables the council to meet heavy interest charges due fpr payment in the early part of the financial year- The. Ngahina Wharf Account, with a credit of £326 Is, indicates a satisfactory position, especially in view of the low wharfage charges and the granting of free wharfage to the Hauraki Plains for metal suppies. “The receipts from publicans’ licenses this year is counterbalanced by expenditure under the Licensing Act. The benefit of this class of revenue should be more manifest in future years. The increase in domain expenditure over previous year amounts to £49 7s 6d, which indicates that the council has been alive to the requirements of the sporting fraternity. The revenue derived from roller hire amounts to £225 Is Yd, and this indicates that this machine has been a souiid purchase.

“The most unsatisfactory position of the year’s workings is the amount of outstanding . rates (£2925 13s), which shows an increase of £279 6s Id. This position seriously increases tlie. difficulties of the council, and it will be necessary for the incoming council to adopt more drastic measures to relieve the position. “As the life of the present council is drawing to a close, we. have no recommendations to make at this meeting as to what rates should be struck or what expenditure should be incurred during the present financial year. “In conclusion we desire, to express our appreciation of the council’s receptions of our proposals and the cooperation of the staff during the past two years.”