Municipal Finance.

Levin Daily Chronicle, 9 May 1918, Page 3

Municipal Finance.

- improve by £452 boring year. B I X j j I The report of the Borough Treasurer (Mr B. I>. Gardener) on the finances 3 for the year ended March 31 last r's as follow:^ 1 " GENERAL ACCOUNT. The account began the year with; a - credit balance of £76 10s 9d, and fini ished wJ;li a debit ballance of £34 14s 7d, which is accounted- for, first by tho ■ high price of material; second, i,he in- . creased wages; third, the donation,* of £50 to the County Patriotic Eund and .£soto;ihe Lake Domain Board; fourth the extra cost of sanitation (£2O) ; J fifth, street lamps £151, printing and I advertising £20. i Tt may be mentioned thali the estimated receipts for the year were £3389' Os 9d, and the expenditure (not j including the roller) £3487. The oxi penditurp lias exceeded tho estimates jby £75 17s lid. Thei largest items of t expenditure are q-n streets, footpaths, gardens and reserves, £1318 6s 10d ; street lighting and new lamps, £351 7s (3d; hospital levy, £234 10s: public library, £189 2s Id. Audi sanitation, £312 '15s 2d. On the receipts slide the principal items aw: Rates and subsidy, £1971 16s 6d; licenses, £330 12s lOd; rents, £639 0.- Id, aud sanitation, £312 14s 7d. It is worthy of note that no interes/; to tho Bank has been paid. WATER ACCOUNT. Tlifs nccount was in credit to the ox- I tent of £I'lG9 10s 5d at the beginning of the financial year, and futlher in- , creased the credit balance for the past year's working by £287 os Id, making the total credit balance in the water account';. on March 31, 1918, £1456 15s 6d It must not. be forgotten that a sum of about £825 is always payable each Jim© for interest on the £18,000 loan, independent of the £135 payable towards the SinJdi'ng Fund on f:!his portion of the waterworks loan. It may be added; that a very small inoome is j obtainable in tilile water account till about October, -:he main portion being paid not much be-fore January or February of each year. In the meantime 1 interest has to be met on about £8000 1 independent of the £18,000 already mentiouedl. Therefore the question to i be considered 'is whether it is not wise to keep the water 'rate at the present standard so as to always 'have a fairly r lairge surplus to fall back upon in ease of accidents tflint might happen to the headworks or pipeline. The expenditure on the account amounted to £1521 Is. tlit* principal iienis being interest and sinking fund £1307 12s 4dl; connections, pipes, etc., £105 I7f 3d; maintenance, labour, materials, £72 lis sd. The receipts were £180S Gs Id; the principal items j being: Rates and penalties, £1009 9s; outside Borougjh supply. £460 9s 6d; public buildings and railway engines, £110 Is 9d; power, £174 10)-; refund pipe® and connections, £63 15s lOd. The amount received for water other wise than from ratepayers was £735 ■ Is 3d, against £587 6s l'Odl, an increase of £147 13s 3d over the corresponding period of last year. GAS DEPARTMENT. The year ending March 31, 1918, showed both on tho receipt and expenditure sides a- record turn-over, the expenditure being £3119 Is 7d, against £2962 9s Id for the previous year, an increase of £'156 lis (id. The receipts were £3380 2s sd', against £3010 15s 8d for tho previous year, an increase of £370 6s 9d. The profit on the year's working was £261 0s '10d, making the total accumulated credit balance in the account, £858 18s lOd.

The Council must not forget that this splendid result lias been obtained without an increase in the charge for gas, in spite of the large increase in I the price of coal during thi« last year of 25 peT cent, independent of till© rise in cost of other materials, I feel that; it would! not he out of place to give due ere'dlit to the manager, Mr A. Burrell, for his strict atteriion to the Works;, and Ms keen buying of material lias without doubt helped,to bring forth such ."satisfactory results. The principal items of expenditure hare been coal , £1112 6;s 9d; maintenance and l-enewals, £141 3s 3d; fittings, £45(J 10s; services, £155 15s 9d ; peters, £o4 19s tid; cookers, £47 16s 4d; interest and sinking funds, £011 2e lldi.. The receipt sl'de shows gas sales £2416 '19s 2d (an increase of £475 3s over the previous year); coke and tar, £315 19s Sd (an increase off £51 2« ad); fittings and goods, £580 15s /d (which includes new street lamps); cookers, £66 Bs. SUMMARY OF RECEIPTS AND EXPENDITURE. £ s d £ s d General acct. 3451 12 7 3562 17 11 Water acct. LBOB 2 o 1521 1 0 Gas acct. 3380 2 5 3119 1 7 Cemetery acct. 50 5 0 34 16 6 Totals 8690 6 1 8237 17 0 STATEMENT OF BALANCES. Book Balances. Gas account 853 18.10 Cemetery account CO 1 6 Water account 1456 15 10 Total "" " 2375 15 10 Debit general acct. 34 14 - i 2341 1 3 Bank Balances. District Fund acct. 2046 17 6 Cemcliery account 60 1 6 Cash in hand 1 (sreneral) 203 15 5 Cash in hand (gas) 30 6 10 2341 1 3 GENERAL REMARKS. In eonchtsmn. the pa c t year's finance should prove satisfactory to the Council, ns with the exception of the General Account. cn-ch separate account shows in credit, the l.otal being £563 14s 5(1. Even the General Account, in spite of the small debit balance, is iin a verv healthy condition, and more so when it i;-' taken into account that, some extraordinary expenditure in connection with it happened last year, such as £50 to the. Patriotic Fund, £50 to tlli'o Lake Domain Board, £151 for new street lamps, £40 for railway commission legal expenses, and inorea-