COUNTY . COUNCIL

Opotiki News, Volume I, Issue 58, 18 July 1938, Page 4

COUNTY . COUNCIL

FINANCIAL POSITION OVERDRAFT EXCEEDS £II,OOO The report by the finance committee at the monthly meeting of the Opotiki. County Council showed that the financial position is far from satisfactory and is causing the council considerable concern. The report stated that the nett ovdratt at the Bank of New Zealand, in the county fund account, on the Ist day of June, 1933, amounted to £7876 18s Sd, plus outstanding cheques £66 3s sd. Total £7942 2s Id. That the nett''indebtedness is made up as fellows:—Oliiwa riding £748 2s 3d, Waiotnlii riding £1674 4s Cd, Waioeka riding £3303 4s 9d, Upper Waioeka i filing £35 18s 3d, Otara riding £lOlB 2s 10d, Coast riding £1172 6s 6d, land fund £47 15s 9d. Total £7999 14s lOd. Less credit balance in the following account: Contractors’ deposits £57 12s 9d. Total' £7942 2s Id.

That the Council’s liabilities in this account are as follows: — Overdraft at B.N.Z. plus outstanding cheques £7,942 2s Id. accounts due and payable £3,273 13s 3d. Total £11.215 15s 4d. Summary of rates collected from 1/4/38 to 30/6/38: Oliiwa riding £32 os 6d, Waiotahi riding £3l 16s 10d, Waioeka riding £lO6 Is Bd, Upper Waioeka riding £lO 9s 6d, Otara riding £56 Is 4d, Coast riding £4B Is Id. Total £284 los lid.

Expenditure on Riding Reads: Oliiwa £67 7s, Waiotalii £133 19s 3d, Waioeka £156 2s 6d, Upper Waioeka £ll 14s Bd, Otara £275 os 7d, Coast £36 Is Id. Total £6BO 11s 4d.