DEVONPORT FINANCE
BOROUGH’S GOOD POSITION The capital value of the borough of Devonport is £2,911,881 and other assets are valued at over £200,000, according to the annual letter setting out the borough’s financial position which has just been issued to the ratepayers. The debt amounts to £302,580, and sinking funds total £20,045. The income for 1929-1930 is £59,152, and allocations for the year comprise £2,840 to meet interest and sinking funds on loans, £B,OOO to water supply. £B,OOO to works, £4,924 to administration, £3,406 to hospital levy, £2.400 to street lighting, £1,700 to refuse disposal. and £l.lOO to the fire brigade. A comparison is made with other boroughs, and in relation of indebtedness to ratable capital value, Devonport stands tenth in a list of eleven boroughs selected for purposes of comparison, while Napier is highest. While Devonport is financed almost entirely out of revenue, most of the boroughs selected for comparison have large unexpended loan allocations and this is an important point to note when making comparisons.
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Bibliographic details
Sun (Auckland), Volume III, Issue 717, 17 July 1929, Page 12
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167DEVONPORT FINANCE Sun (Auckland), Volume III, Issue 717, 17 July 1929, Page 12
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