HARBOUR ESTIMATES

Sun (Auckland), Volume II, Issue 505, 7 November 1928, Page 8

HARBOUR ESTIMATES

EXPENDITURE EXCEEDS £410,000 ‘FIGURES FOR SAFETY” “The new year’s estimates are for safety purposes,” said Mr. C. F. Garratt, secretary and accountant to the Auckland Harbour Board, when he placed his report on the estimates for the year 1928-29 before the board at yesterday afternoon’s meeting. “They are on a conservative basis as to receipts,” he added, “and liberal as to payment.” The report said that last year’s estimates had assumed a balance ai end of the period of £73,000. The general account had been able to make a provisional advance of £79,471 to loan works, and there had been a considerable saving in interest. The secretary thought it was reasonable to assume that the position ai September 30, 1929, would be quite un satisfactory as indicated in the figures submitted. showing a balance oi £93,315 at that date. This amount would be required to meet interest an! sinking fund in January, 1930, which was scheduled at £120,000. With a balance of £34,275 on October X, 1928, the general account of the estimates for the coming year gave the receipts as £504,225 and the payments as £410,910, leaving a balance of £93,315. Principal items in the scheduled payments are:—lnterest and sinking fund, £182.800; supplementary sinking fund. £15,200; reserves, £6,000; working expenses and maintenance. £157,000; special maintenance, £4,500; redemption expenses for new loan issues, £12,500; advance to Manukau Harbour, £2,210. Works commitments were estimated to total £30,700. This sum included £ 9.600 for the supply of cranes and grabs for Western Wharf; £4,000 for alterations to the board’s offices; £7.000 for the erection of a new waterside workers’ building, and £5,000 for contingencies. Chief items in the receipts are:— Goods wharfage. £149,000; shipping charges, £76,000; rents, £55.000; crane dues, £43,000; goods storage, £16.500; dock and slipway due.*--, £9,<900: water supply. £9.300; miscellaneous, £9.000; Admiralty subsidy. £5,000: vehicular tolls, £3.800: lighting wharves, £3.500: total, £379,100. In addition, refunds from other sources total £7.400. Several items totalling £II.OOO had been included in the expenditure in order that, should the board decide to undertake further works, their relation to the year’s finances would be apparent. For a similar reason, sums of £20.000 for continuing the Mechanics Bay breastwork and £25,000 for the viaduct had been included. Including the advance from the general account the estimated receipts for Manukau Harbour were £10,160. The estimated disbursements included £4,500 for working expenses and maintenance, and £4,460 for interest and sinking fund. Proposed expenditure from the loan accounts was:—Western reclamation, £35,000; Mechanics’ Bay breastwork, £15,200 (in addition to the continuation and the viaduct); vehicular fern* reclamation, £7,600; and eastern reclamation roadway, £4.500. The total under this head is £187,000. The estimates were adopted.