ONE TREE HILL FINANCE

Sun (Auckland), Volume I, Issue 280, 16 February 1928, Page 13

ONE TREE HILL FINANCE

SATISFACTORY POSITION In the statement of accounts for the 10 months ended January 31, 1928, presented to the meeting of the One Tree Hill Road Board last evening, an estimated credit balance of £ 208 33s 3d was shown. The position was regarded as satisfactory, especially in view of the large number of works, not provided for in the original estimates, carried out during the period. It was pointed out that no works of any magnitude not already provided for could be undertaken until the end of the present financial year. It was also stated that the rates had come in well, the amount received to date amounting to £21,531, or 91.6 per cent, of the total for the current year. Licence fees and permits produced £2,000, which was more than had been anticipated. The waterworks department had spent £2,684, but this included the cost of the installation of the mains in the board’s portion of the Great South Road, and important additions to the filter plant. A credit balance of £ 340 would be available on March 31 of the present year. As the work on the Great South Road had been completed, it was possible to give the figures. The loan authority was £24,350, but it was found that only £20,300 of the loan was required, and this amount was raised, and proved more than, sufficient. The credit balance was now £1,316, including £602, the outstanding balance of the Main Highways Board’s subsidy.