Local asset sale funds rejected

Ruapehu Bulletin, Volume 10, Issue 454, 22 September 1992, Page 10

Local asset sale funds rejected

Equity of spending monies raised from council asset saies can be addressed without setting up "piggy banks", the Ruapehu District Council has decided. At issue last Friday was the Waimarino Community Board's view that the money raised from the sale of council assets should be spent in the area concemed. The council decided that proceeds from such saies should go into the General Reserve of Council and that they should be used to fund

capital works in the district. Councillors agreed that as long as good reporting of where such funds were spent was made available, no separate funds needed to be set up. In his report to the council, finance director

Chris Ryan said "there is a very close match between the value of the work to be carried out in the southern part of the district and the sum derived from property saies". From saies, $111,000 would be derived from saies in the north and

$144,000 from the south. Of that sum, $85,000 has been earmarked for spending in the north and $150,00 in the south. When put to the vote Crs Bennett, Peach, Lawson and Murphy asked to have their votes against it recorded.