YEAR OF ECONOMY

Sun (Auckland), Volume IV, Issue 960, 1 May 1930, Page 11

YEAR OF ECONOMY

NEWMARKET BOROUGH ADOPTS ANNUAL REPORTS “FINANCES REASONABLY SOUND” '‘The ensuing 12 months will undoubtedly be a difficult period, and problems will arise that will need to be met in a N statesmanlike manner. The council should continue with the policy of economy,” said Mr. S. Donaldson, Mayor of Newmarket, in presenting his annual report for the year ending March 31 last,' to the Newmarket Borough Council last evening. The new figures from a revaluation of the borough totalled £85,5-65, an increase of £4,402 over the previous year’s figures. Several questions of importance affecting the financial position were likely to arise in the forthcoming year, said the Mayor, and under tho existing circumstances the policy of the past year should be continued, with the object of further stabilising the finances without imposing any additional burden on the ratepayers. MONEY FOR STORMWATER DRAINAGE The amount thus far expended on stormwater drainage exceeded the amount authorised, namely, £11,500, and it would be necessary to raise a further 10 per cent, for this purpose. In connection with the library, the year’s progress was satisfactory. Steps are to b© taken to obtain the views of the ratepayers on the establishment of a fire district. At the commencement of the year, additional facilities had been provided for the present brigade, which had been fully justified by results. KEPT WITHIN ALLOCATION The amount allocated to the Streets Committee was £2,700, and the amount expended £2,662, so that for the first time in many years the year's operations had been kept within the allocation. In view of the need for economy, the programme of street works was modified in comparison with those of previous years. Building permits to the value of £26,033 were issued for the year, a slight decrease compared with the previous year. It is proposed to borrow £30,000 for the purpose of acquiring the necessary land and carrying out the work connected with the scheme for improvements to Station Street. Crowhurst Street is also to be improved in accordance with town-planning ideas. “A LOSS OF REVENUE” “The position of Newmarket in relation to the funds derived from the petrol-tax is still unsatisfactory,” said tho Mayor. “Excluded from participation in the funds distributed among local bodies with a population exceeding 6,000, this borough is also omitted from the list of boroughs with a population of under that figure, whose main roads were declared to be main highways in 1927. I estimate that this defective legislation has been responsible for a loss in revenue to Newmarket of more than £1,000.” “A general survey shows the operations during the year to have been highly successful,” concluded the report, “while the financial position at the close of the year can be described as reasonably satisfactory. However, tho present margin between the as-

sets and liabilities is too narrow, and every effort should be made during the coming year to improve the position, by increasing the surplus.” The annual report of’the Mayor and the treasurer were adopted. Mr. R. Philpot was appointed delegate to the Local Bodies’ Association in place of Mr. A. P. Wickens, who resigned from the council.