TAKAPUNA FINANCE

Sun (Auckland), Volume 1, Issue 77, 22 June 1927, Page 4

TAKAPUNA FINANCE

The Mayor and councillors of Takapuna met the ratepayers last evening in the Foresters’ Hall, Takapuna, to explain borough finance and the need for a big rate. The Mayor’s statement had been discussed at a similar meeting' at Milford last week. The position of the borough was not hopeless or anyway near it, but caution was essential. The need for playing areas would have to be considered along with other matters. The overdraft at March 31 was £6,800, plus debts of £BOO, and law costs of £570. The council had to strike a rate of 27s 6d to met liabilities existing when it took over; this vote being more than the total rate levied last year. It was proposed to raise an additional £IO,OOO for this year’s work; loan expenditure should be cut down to the minimum of about £ 25,000 for this year and next year about the same. Mr. J. E. Close, chairman of the Works Committee, explained that only £4,000 out of the £5,000 actually voted for works would be available as other amount had been committed. Only patching work would be possible on the roads and paths, much as that was to be regretted. The money spent on patching would pay the capital charges on concrete roads and it was proposed to place before the ratepayers the issue of voting for the concreting of Waters Hill, Shakespeare Road and King Edward Avenue, involving about £19,000. The permanent staff, costing about £ 5,000 last year, was being reduced. Mr. A. M. Gould traversed the financial position. It was not possible to carry forward the debit balance from last year as in 1928 the borough would have to meet another £2,000 charge for interest. Rigid supervision of expenditure was essential. In reply to Mr. R. E. Greville, he admitted that the amount of the debit left by the last council was not in excess„ of what that council had assumed on taking up office, but pointed out that' other conditions had changed and the debit on that score was more dangerous to stable finance. After the council address, Mr. Gould spoke on the demerits of unimproved rating on which the ratepayers vote today.