BOROUGH COUNCIL.

Hauraki Plains Gazette, Volume XXXX, Issue 5417, 29 April 1929, Page 2

BOROUGH COUNCIL.

FINANCIAL POSITION. COMMITTEE’S REPORT. At the last meeting of the Borough Council the following report was presented by the Finance Committee :— “During the past month the revenue in the District Fund Account amounted to £2697 5s sd, including £1798 13s 6d main highways subsidies received. The expenditure amounted to £1166 3s 6d, and we recommend that the attached accounts be passed for payment, after which the credit balance will be £2237 9s sd. “The expenditure in the various loan accounts is as follows : “Water Improvements Loan Account, £2BB 7s 2d ; Sewerage Loan, £77 17s 4d ; House Sewerage Connections Loan, £l5 13s; Swimming Baths Loan, £6 17s 3d ; Council Chambers Loan, 5s ; 1920 Street Improvements Loan, ss. “We recommend payment of the accounts presented in the statements of the above loan accounts, after which the respective positions of the same will be : “Water Improvements Loan, credit, £240 14s lid ; Sewerage Loan, credit, £35 14s 9d ; House Sewerage Connections Loan, debit, £335 18s 3d ; Swimming Baths Loan, nil; Council Chambers Loan, credit, £39 0s 9d ; 1920 Street Improvements Loan, credit, £27 19s Id. “The balance-sheet and rate statement is before you to-night, and we recommend its adoption subject to audit. “The Ngahina Wharf account show an increase of 121% in revenue over last year’s figures. Heavy traffic fees have increased by £33 15s sd. The sanitary account shows a loss of £6 14s lid, plus upkeep of plant and horse feed. The. first annual instalment of £2O per annum has been set aside for a Criterion Bridge maintenance account, thus giving effect to the present council’s policy to establish this fund for future requirements. The lighting account shows an increase in expenditure of 10%, as against last year, the debit balance now being £3 7s Bd. The pound account is not so satisfactory, the loss for the year being £65 11s 6d, as against £3l 17s last year. During the year the grants from the general fund towards the fire brigade increased by £l6, and to the domain by £2O 16s Bd. The domain revenue was £l6 15s 3d less than last year. “Councillors will notice an expenditure of £278 Is 7d, owing to a revision of our by-laws, contributions to the new town-planning scheme, and legal expenses. A good deal of the latter will be recoverable. “A review of the balance-sheet shows the position of the various accounts at March 31 as follows : “General, credit, £514 12s lid ; Water, credit, £760 9s 4d ; Hospital Board, credit, £56 18s 8d ; War Memorial, credit, £lO3 18s lid ; Ngahina Wharf, credit, £430 Is 9d; Heavy traffic Licenses, credit, £366 Ils; Swimming Baths, credit, £45 8s 3d ; Criterion Bridge Maintenance, £2O; Sewerage Loan, credit, £6O .18s 5d ; Street Improvements Loan, credit, £27 19s Id ; Council Chambers Loan, credit, £39 Os 9d; Swimming Baths Loan, credit, £6 12s 3d; Water Improvements Loan, credit, £2Bl’ Is 4d ; Financial Adjustment Loan Interest, credit, £3 0s 9d ; Sewerage Loan Interest, credit, £225 Is lOd ; Criterion Bridge Loan Interest, £7 16s 1 ; 1920 Street Improvements Loan Interest, credit, £47 0s 4d; lighting,“debit, ’£3 7s 8d ; Domain Improvements Loan Interest, debit, £3 13s. lOd; Relief of Unemployment Loan Interest, debit. £l3 13s 6d.

“The General Account, notwithstanding a very heavy demand and greater activity by the borough during' the year, shows a credit balance of £514 12s lid, being £142 6s 2d better than last annual report. “During the year Government grants and highways subsidies have amounted to £2825 3s 2d, an increase over last year's revenue'. This amount was very necessary to bring our main roads up to the present high standard. .“The Swimming Baths account, after expenditure out of a revenue of £l3B 15s sd, shows a profit for the year of £45 8s 3d, not including interest and sinking fund, which costs £l4O per annum.

“As compared with last year’s rates arrears, £2748 10s 2d, this year’s amount, £2127 5s Bd, shows a reduction of £621 4s 6d;

“All accounts show a satisfactory position as compared vvith 1927-28, notwithstanding increased amount of calls on the borough funds created by the necessity for the council to keep up with the progress made by the town ; and thanks are due to the staff for their ready assistance. The town clerk is to be congratulated on having his balance-sheet prepared so promptly and before this meeting tonight. The nurpber of accounts are greater than ever before, but the previous high standard has been kept up. This is of great assistance to the Finance Committee, and enables the retiring council to know the exact position of the affairs of the Corporation.”