SOUND FINANCES

Sun (Auckland), Volume III, Issue 653, 3 May 1929, Page 11

SOUND FINANCES

MT. WELLINGTON RATEPAYERS SATISFIED The statement of accounts, as submitted in the annual report of the chairman of the Mount Wellington Road Board, to the annual meeting of ratepayers last evening, shows the finances of the district to be in a very sound condition. The year commenced with a total credit of £3,630 12s Bd. The general account amounted to £1,427 8s 2d, loan account £421 11s 7d, and outstanding amounts for collection, £1,781 12s lid. The total credits at the close of the financial year on March 31, 1929, were £4,289 5s 2d, the general account being in credit £1,566 16s 7d, the loan account £631 .11s lOd. Outstanding amounts for collection were set down at £2,091 8s 9d. During the year the whole of the interest and sinking fund on the concrete road loan had been paid out of rates, while during the previous year only portion was provided in that manner, the remainder being paid out of loan money in hand Scoria to the amount of 4,586 yards has been used on the roads, and 9,528 yards has been sold to customers, the total output from the board’s quarry amounting to 14,114 yards. The board is well equipped with plant and machinery, all in good condition. It can reasonably bo claimed that no other district in the Dominion with a population of less than 1,100 persons, and an area of 3,890 acres to administer, is so well served with concrete and other good roads. In accordance with a promise made by the board, the rates were reduced last year. Building permits issued during the year represented new buildings of tlie value of £34,541. A subsidy of £3 for £1 has been granted by the Main Highways Board for the construction of bitumen shoulders on the Great South Road. This work will be put in hand at an early date. Strong representations have been made to the Highways Board to have the Ellerslie-Panmure Road, and the Mount Wellington highway, declared main highways, for maintenance subsidy, and evidence in support was placed before the Highways Board recently in Auckland. Ratepayers passed a vote of thanks to the board for the work done during the year, and emphasised their satisfaction at the state of the finances.