BOROUGH FINANCES.
: SMALL OVERDRAFT EXPECTED
The Mayor stated at a special meeting of the Borough Council on Tuesday evening that ■ as March 31 ended the financial year, he would like authority to be given to hint and the Town Clerk to pay all accounh nel'ore that date, in order that all the cheques might be cashed beforehand and the transactions would ap pear in the 'GounciTs pass book. Under the Act the Council was ' reel fired, if it commenced the year wfih an overdraft, to open a new ac-. counL As the assets came in they ci uld’ be used to pay off the overdraft. “You are not expecting an over- ! raft, are you?” asked .a. councillor. “Yes, we will have a small one,’ said the Mayor, “but it will soon be wiped off.”
Authority was given as requested, and the Mayor. Avas also empowered to open a new account.
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https://paperspast.natlib.govt.nz/newspapers/SNEWS19220331.2.19
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Shannon News, 31 March 1922, Page 3
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150BOROUGH FINANCES. Shannon News, 31 March 1922, Page 3
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