The Times. Published on Tuesday and Friday Afternoons. Motto: Public service. FRIDAY, JULY 23, 1920. BOROUGH FINANCES.

Pukekohe & Waiuku Times, Volume 9, Issue 551, 23 July 1920, Page 2

The Times. Published on Tuesday and Friday Afternoons. Motto: Public service. FRIDAY, JULY 23, 1920. BOROUGH FINANCES.

Beiny in duly bound to guard the interest? of ratepayers to the best of our ability, it has often fallen to our unenviable lot to be obliged adve-sely to criticise t!ie Pukekohe Borough Council's policy -or the lack of such —on certain matters. It is, therefore, with all the more pleasure that we find ourselves able honestly to congratulate the council on occasion. The financial statement for the past year, endjng March 3-. 1920, was placed before the council at the general meeting held on Wednesday night, and it is gratifying' to note that considering the history of the borough finance, the balance-sheet shows that marked improvements have been accomplished. We note, for example, that the debit balance carried over from last year was £2363' 13s, which is reduced this year to £IGG4 13s lid. a decrease in liability of £o(»0 4s fid. It may pertinently be commented that no large amount oi development work has been undertaken during Lite past year, but in anticipatory reply to this it might be convincingly said that new works (apart from maintenance) could not be expected out of rates, especially in view of the ever-increasing costs of 'lateria's and labour. For this reason also, it has been found impracticable to reduce the rates in the present year, and ever) businessman who is obliged t<> hire labour or purchase large quantities of materials will readily admit that the reason is a sound one. But we will be very much disappointed if the expenditure of loan moneys to provide good roads does not so lower the costs of upkeep that a substantia! reduction can be made in the general rate in the future. However, the position i*, comparatively speaking, very satisfactory. The rate-col-lecting has evidently been very assiduously followed up; last year the amount outstanding under this head was v :125, and £32 3s 3d has been remitted this year (19UH920), and yet the total outstanding on March 31 last was only tr-5 5s 9d, which, including that remitted, is really an improvement to the extent of £9l 17s (id. The general late struck amounted to £5721 15s. of which, plus £l2O outstanding, £5749 12s 5d has been collected, r'arthermoie, the borough electric lightir.g arid power system has come out very well financially. It st.. ted tiie year with a debit of £l7O 13s od. an* ana-ant of £12(5 12s 9(1 has been transferred to interest, capital expenditure incurred i.219. thus showing a g.oss profit of Colo' (is 3d on the yeas s worl.ing. On t lie whole, the council may be congratulated on the figures,, ard also on the fact that a! the meeting on Wednesday night members showed a disposition in favour of pioceeding with works provided for by the £54,000 loan at earliest possible date.