The Taihape Daily Times. AND WAIMARINO ADVOCATE MONDAY, APRIL 29, 1918. REPORT ON BOROUGH FINANCES.

Taihape Daily Times, 29 April 1918, Page 4

The Taihape Daily Times. AND WAIMARINO ADVOCATE

MONDAY, APRIL 29, 1918. REPORT ON BOROUGH FINANCES.

(With which is inoorporateu The /ai hape Post and Vralum-x-o N*wb).

Last week there was published in this journal tEe annual report made by the Town Clerek to the Borough Council. It is an extraordinary document, as it is something of a nature that no ordinary ratepayer, could have expected. The B'orough seems to have been infused with a new business life, so highly vitalised as to evoke some mental energy in the most casual burgess with a view to, at last, acquiring some understanding of how Borough affairs really stand, more especially with respect to finance, and, even ordinarv account keeping. The very construction of the Town Clerk's report openly proclaims that it is the work of a man who knows. We have been given for the first time for many years,"something to criticise; a statement that every burgess can understand and make comparisons upon. Hitherto, annual reports were only something to condemn, as they were lacking in public information, and they were mostly presenting a status that was not creditable to the Borough. We, at last know the position in each and eveiy account, but so that every burgess might have an opportunity to study the report it should certainly have been made available for free distribution, more especially as the cost would have only run into a matter of shillings. We trust that a new era in municipal management has commenced in Taihapo —we believe it h as — an d that our public business will in future be discussable without fear of doing the town an injury. It is too comprehensive to do anything more than casually skim at one time, but it contains a large quantity of important matter for frequent future reference. It is indeed pleasant to be told that the tide of public debt has turned and that it is less,,this year chan last by £239; but that becomes still more gratifying as we learn that all old back debts —old outstanding liabilities that should and would have been wiped out with efficient accountancy—have been paid and that present liabilities are narrowed down to the current month's accounts. There are to be tags this year; annoying temporary loans have been profitably dealt with, and what may be regarded as little less than discounting bills without provision for interest will not again show in the audit. The past year's accounts have the advantage of an arrangement with the Eailways for water, but the disadvantages are very much more on the other side. The cost of labour and material is constantly increasing, and the Council has set up' entirely new building's and purchased new plant out of revenue which should undoubtly have a debit against capital account. No exception can bo taken to payment for permanent works out of capital, and to take any considerable sum from' any single year's revenue, let alone for a series of years, is disadvantageous and dangerousft£inance # It is inflicting a distinct hardship on many ratepayers as it compels them to pay for what those who come after them will receive equal or - greater benefit from. As Mr. Mcnzies points out the £3OO taken out of revenue for permanent last year, would have paid interest on £SOOO. A sum. which Borough footpaths are, in chorus, crying out for, and we commend this particular portion of the report to the consideration of the Tradesmen's Association. The report points out very clearly that had a proper course been adopted specially necessary works could have been completed within a year or so, and interest payments by way of special rate would not have equalled the amounts appropriated from, revenue for such during past \ years. The' writer of the report is evidently perplexed to understand why propertyowners have been paying rates and yet doing Borough improvements out of their private pockets. By spending the £3OO in interest on a loan instead of in the creation of new works for posterity, muoh-needed improvement could be effected and, as the Town Clerk says, the burden on some ratepayers is made easier, the town can be improved within a reasonable period, leaving posterity to assist in paying for the benefits they are bound to receive from the forethought and judicous management of the present, or followng Councils. We cannot appreciate too highly the Town Clerk's most businesslike report; it represents the turn of the tide in Borough management, and it is the avenue to a new era in town improvement The Town Clerk is making it possible for a public journal to exhaustively discuss local government without taking

any risks in injuring the town. When the balance sheet is 'audited and published we shall be on more stable ground in discussing' more fully the various accounts referred to In the report.