BOROUGH FINANCES.

Manawatu Herald, Volume XXXIII, Issue 1004, 13 June 1911, Page 3

BOROUGH FINANCES.

ESTIMATES FOR CURRENT YEAR. At last night’s Council meeting the Town Clerk submitted the estimate of the receipts and expenditure for the year ending March 31st, 1912, as follows: — receipts. General rate at 3d. in the £, £1125, Government subsidy on rates, £ll7 ; hotel licenses, £l6B ; miscellaneous licenses, £35 ; rents, flaxmill and others, £110; building lees, £ls ; pound fees, £lO ; dog tax, £3O ; refunds licensing expenses, £110; refund N.Z. Shipping Coy., £25; miscellaneous, £l6 los qd- Total estimated receipts, £1,761 10s qd. expenditure. Overdraft, £l2B 2s qd. Maintenance roads, streets and drains, £7OO ; salaries. £205 ; _ interest and sinking fund Council Chambers, £l2O ; street lighting, £l7O ; printing and advertising, £SO ; Hospital and Charitable Aid Board, £4l 17s 8d; ranging, £25; licensing expenses, £140; dog registration. £ls ; interest op Sandon tram, £l6 10s qd ; Mayor’s honorarium, £lO ; valuation of borough, £35 ; audit fees and insurance, £2O ; new road in front of N.Z. Shipping Coy.’s sheds, £75 ; miscellaneous, £lO. Total estimated expenditure, £1761 10s qd. The Mayor said that it was proposed to strike the same rate as last year, and on account of the re-valuation of the Borough, it was estimated that the total amount of rates would be increased by £257. The Council started the year with an overdraft of £l2B, and during last year an amount of £l3O had been received from sale of frontages in Thynne street. The point he wished to make was that the amount available for expenditure would this year be the lowest in the records of the Council. The amount allowed for maintenance of roads etc., was £7OO, and of this amount £3lO had already been spent. Then, again, there was an amount of £233 expended in connection with the gas works, which the Government auditor had refused to sanction, and this amount would consequently have to be paid out of the general account. There was also £65 over expended from interest account in connection with loans which had to be met. These amounts made a total of £606 ot this year’s revenue, which had already been expended. Then the Coronation Hall was costing £2OO more than the estimated price. These figures would prove to the Council the necessity of keeping expenses down.

The statement of estimated receipts and expenditure was approved.

TREASURER’S REPORT. The Borough Treasurer submitted the following report of the financial position of the Borough for the first quarter of the year, at last night’s Council meeting “ I have to report that the sum of ,£63 lis 9d has been paid into the district fund account since the last monthly meeting of the Council. The Bank balances of the different accounts stand this day as follows : —District fund account, account, 18s 3d at credit; gas works loan account, 19s 6d at credit. The only accounts in credit are; Gas works loan account, 12s ; interest account, iqs 7d. The other separate accounts are overdrawn to the following extent: General account, £561 iSs sd; library account, £2 2s 3d : reserves account, iSs 2d ; cemetery account, iSs 7d ; sanitation account, £9 O 19s 6d ; gas works account, £336 17s 6d ; Town Hall loan account,