SOUND POSITION

Hauraki Plains Gazette, Volume 53, Issue 32422, 24 April 1944, Page 5

SOUND POSITION

HAURAKI PLAINS COUNTY GOOD RATE COLLECTION CLERK’S REVIEW OF PAST YEAR That the total outstanding rates on the Hauraki Plains was merely £BBB 17s 6d and that the total collections during the year including current and arrears was £2928 6s 4d or 103 per cent, of the amount levied, was reported by the county clerk, Mr E. A. Mahoney, to the April meeting of the Hauraki Plains County Council. The clerk’s report on the balancesheet for the year ended March 31, 1944, and now ready for audit, was as under: — “The collection of rates has been highly satisfactory, both- as far as arrears and current rates are concerned. The collection of current rates was 98.8 per cent. The ariears outstanding are:—Current year, £339 3s lOd; older, £549 13s 8d; total, £BBB 17s 6d. The greater part of the older arrears are covered by orders. Total collection was £29,2'98 6s 4d oi" 103 per cent, of the amount levied. “The balance of the county fund is £22,425 10s 3d. There is also £5OOO invested in war loan in addition. General Account Healthy

“The general account shows a balance of £8864 16s 9d as against £14,659 18s 6d at’ the beginning of the year. Add £5OOO invested in the war loan and the balance shows £795 Is 9d less than last year. Heavy traffic pool has not been distributed this year and nothing transferred to general account in consequence, so that virtually the position is better than last year. In addition new trucks not estimated for have been purchased, the cost in the year being £lB9o' 5s Bd. The position of the general account is very sound.

“Although a separate account of the quarry is not kept, I keep a private trading account and submit to this meeting a profit and loss account and balance sheet. A profit of £757 Ils 10d is shown for the year despite adverse circumstances. Water Supply Costs

“Waitakaruru drainage account. — Chiefly through economy in drain cleaning and payment of all drainage rates, this account has made a recovery and has gained £174 this year, the debt now being £147 IBs 4d. “The East water supply account has slipped back considerably principally through the work of filling the channel in the Waihou river with stone.

“The West water supply account has held its own despite the cost of improvements in the Canal road supply-

“The wharves account shows a credit balance of £348 16s sd, but extensive repair works will bring this down during the current year. Large County Assets

“Interest accounts are in credit to the extent of £1356'9 Os 6d; payments due for' interest and sinking funds on April 1 are £B5OO. “As regards the credit balance of the county fund, it is not yet wise to invest any of this on fixed deposit. Interest and sinking fund payments and payments on Kerepeehi block water supply will reduce it to about £ll,OOO and a further £4500 is due for interest on various dates to October 1 next. “A statement of the whole assets and liabilities of the council shows a surplus of £183,575 18s 2d. Everything has been conservatively valued. The nett public debt is £217,437 19s 9d so that the council has assets only £33,862 short of its total liability, not taking into account the land which is pledged as security for loans.”

Congratulations were extended to the clerk by councillors on the excellent report he had tabled. The administration to place the county in the sound position it holds to-day was greatly appreciated'.

The question of investing some of the balance in a short-term loan was left in the hands of the chairman, Mr C. W. Parfitt and the clerk.