HAURAKI DRAINAGE.

Hauraki Plains Gazette, Volume XXXIX, Issue 5271, 7 May 1928, Page 4

HAURAKI DRAINAGE.

THE FINANCIAL POSITION. REPORT TO THE BOARD. At a special .meeting 'held for the purpose, the Hauraki United, Drainage Board on Friday last thoroughly eon sidered its financial position. Mr 8. n. Murray presided over Messrs J. C. Miller, J. M. Thompson, F. L. Haniip ton, H. H. Hicks, F. A. Kneebone, and W. Me Du ft. The treasurer, Mr T. D. Wallace, who was in attendance, submitted a lengthy report on the financial position, which contained the following : “ The complete statement of accounts for the year ending March 31, 1928, brought out a debit balance of £284 10s lid, and this is accounted for by the fact that the rat" demands were not sent out until November, ow-’ ing to the delay in completing the classification list. RATES. The actual rates collected during the year, both c urrent and arrears, amounted to £1919 19s 9d, compared with £2722 for the preview year (Horahia £l4BB 19s 6d and Hauraki £1233 Os 6d). “The actual rates levied for the current year amounted to £2932 10s lOd, and £B4l 16s Id has been, paid, leaving a balance' unpaid of £2090 : 14s 9d. In addition, arrears of rates are as follows : Hauraki, 1926-:27, £213 13s 5d ; Horahia, 1926-127, £Bl 2s Id ; Hatirak', 1925-26, £5O 2s 5d ; Horahia. , 1925-126, £45 13s 2d ; making a total of arrears of £391 Ils Id 1 and a total'of rates outstanding of £24'82 5s lOd. OVERDRAFT. The bank overdraft wa>h £1029 17s lid, and was accounted for by the above debit .balance of £284 10s lid ; 'accounts paid for interest and sinking fund on special loans, and recoverable from special rates as they come’in, 1 £392 18s 9d; and advance to Hauraki Central loan account of £446 18s lOd. These total £1125 8s 6d, from which was to be deducted £95 10s 7d balance at deposit. “The fact that the board had to proceed, to the Supreme Court and thereafter' obtain amending legislar tion before, being in a position to deal with the loan, authorities and thus meet its obligations, has not only been expensive, in itself but has been the cause of t'he large amount, of overdraft interest, as the ordinary act count ha< to advance the, money until the loan moneys were available. maintenance COSTS. “The cost of maintenance during the year amounteid to £1684 9s sd, compared with £2315 17s 4d during the previous year- The difference i s largely accounted for by the fact taat certain improvement works were, carried ou,r. in the Horahia area with the help of a subsidy of £5OO. “The estimated amounit to be paid for, cleaning drains this autumn 'is £l3OO. Accounts due prior to March

31 and since said amount to £lOB, the cost of the Pekapeka-'Road culvert is £5O, and the amount to the debit of the statement.' following is £284 10s lid, making a total of £1742 10s, lid, against which there are rates out- “ standing totalling £2482 5s l.Od. “It will be noted, that improvement work ini connect’on .with the Horahia loan has been carried out at a: cost of £4437, while £2344 has. been spent it.o date in improving the, Te Ka.uri No. 1, Thames Valley drain flood-gates, Wharepoa Road, etc. It is intended to proceed with this- work immediately the .loan money is received. Until rates come in the overdraft is. bound to be high, as a result of the large amount of cleaning that has been carried out.” BALANCE-SHEET. The statement of receipts; .and expenditure was as. follows :— Balance brought forward from Horahia account, £725 ,10s 3d ; Horahia outstanding rates collected, £389 Ils; Hauraki outstanding rates; col-; lected, £6BB 12s 8d; penalty on rates, £2l 15s 6d; Hauraki subsidy, £485 9s' 1927-28 rates-collected, £B4l 16s Id.;

rent received, £lB 14s ; balance of contribution unexpended, 2s 6d. Tdtal, £3171 Us, * The items of expenditure -were '■ Clerk’s and overseer’s salaries, £428 17s 4d ; members’ travelling expenses, £l4 9s 7d‘; postages, telephones l , avnd cheques, £26 6s lOd ; printing, stationery, and advertising, £B6 165.; instr.rance, £25 16s 2d ; legal expenses. £ll>4 7s 6d ; rent of office anti board-room, £5 ss; election expenses, £34 13s 6d property purchase instalment, £2O os.’ 6d ; office furniture, £5 19s 7d; Hauraki Board to debit balance 31/3/27, £B2B 7s 5d ; bank exchange, £1 3s 7d ; general maintenance, Northern subdivision £4'oB 15s. lid, Central North subdivision £4'57 3s 4d, Central South subdivision £505 18s Bd, Southern subdivision £3ll 11s 6d ; classification expenses, £26 5s ; interest on overdraft, £ll3 4s 6d. Total, £3456 Is lid. The. balance of receipts over expen-i diture was therefore £284. 10s, Lid. i . RECONCILIATION. i The Bank reconciliation statement showed that the overdraft was £1029' > 17s lid, made, up as follows.: Due ■ from special rates, £392 18s 9d ; due. j from loan, account, £447 18s 10d-; debtor balance from statement, of receipts and payments, £284 10s Hid, less, balance at deposit and 'cash in,i hand, £95 10s 7d. THAMES VALLEY WORK. The- statement of the? Thames, Walley improvement work was as; follows : Amount of loan, £lOOO ; Ho ra:hia loan to provide £1438 ; stubsid ies received, £592 19s 2d. les-s £l6-5- Is 1. 0d for first year’s interest and sinki ig fund, legal expenses, etc., leaving ti ic sum of £2272 18s 2d availably*.. The cost of -the work to date, arm d the estimated cost to complete tin > work was shown as £3877 18s 3d, awl the total subsidy to be received. wa4 | £1238 Ils sd, thus the excess of expem- | ditiuc over receipts would be £344. -Ik-1 Bd. | THE £15,500 LOAN. 1

The statement of the position- of tliQ £15,500 loan account at Marciii 31, 1928. showed that £lO.OOO had been raise.d and £2438 15s Id of subsidy had been received. The expenditure” fair the year ended March 31, 1927. was £7832 9s 3d, and for the, year 1927-28 the expenditure on works w as £289’1

14s lid, on interest and sundry charges. £347 8s lid, add £1197 13s 3d was advanced to the Hauraki Central loan, leaving a credit balance in the account of £213 8s 9d.

The report concluded with an estimate of expenditure necessary in the Horahia special loan area. With the £213 8s 9d in hand and the subsidies to be received the cost.' was estimated at £247'5 18s 2d. It was decided to have the debentures for the balance of £5500' printed and to hypothecate £3500 of them. FOREMAN. The chairman reported’ that the committee had interviewed the three selected applicants for the position of overseer and working foreman and had selected Mr, J. A. Bennett, of Turua. The committee’s action was approved. THE £lOOO LOAN. The chairman reported that the £lOOO loan, 'had become available and the account could be operated on from the following day. WORK FOR DRAINERS. It was decided that tenders be callecfcfor improving a section! of the Willow Tree d<rain and the Soldie,rs’ drain-