BOROUGH ACCOUNTS FOR LAST FINANCIAL YEAR

Taupo Times, Volume III, Issue 148, 26 November 1954, Page 1

BOROUGH ACCOUNTS FOR LAST FINANCIAL YEAR

SOUND POSITION OF POWER SC1IEME FINANCES i The Borough Council's balance sheet and accounts were presented to a meeting of the Council on Wednesday, November 17, following completion of the annual audit by the Audit Department. In the General Account, receipts for the year totalled £14,850/18/8, as against the total expenditure of £16,224/14/10. At the beginning of the financial year, on April 1, 1953, there was a debit balance in

the account from the previous year of £1522/19/4. With expenditure for the year £1373/16/2 in excess of income, the account showed an increased deficit as at' March 31, 1954 of £2896/15/6.

The Electricity Account, which began the year with a debit balance of £415/4/2, had receipts from sale of electricity of £9341/19/3, with sundry receipts £101/14/7, a total of £9443/13/10 and after provision for all loan charges showed a credit balance for the year of £5480/7/4.

General Account Income Income for the year in the General Account under the heading of rates included current rates £9,958/6/9, arrears £347/15/10, and penalties £49/16/-, with subsidy of £192/6/4.

The sum of £1682/19/- was collected under the heading of licenses and permits, of which the sum of £1235 represented building permits. Miscellaneous receipts totalled £967/2/5, refunds from Power Loan £1318/4/8, and from Domain Board £327/1/4.

Expenditure Items On the expenditure side of the General Account, under the heading of Administration, salaries totalled £1830/3/8, Mayoral honorarium £237/10/- and other items £965/19/2. This last amount included £348/12/- for advertising, printing and stationery; £251/7/3 for office equipment; and £158/2/3 for legal and bank fees.

Under the heading of Maintenance, £2390/2/3 was for Plant (less petrol rebate £102); £3574/19/5 for Streets and Footpaths; £728/1/3 for Kerbing and Channelling; £1244/8/2 for Street sealing. From the last three items, totalling £5547/8/2, the Account shows a deduction of £518/6/- on account of Heavy Traffic fees. Tools and material accounted for an expenditure of £668/5/2.

Micellaneous expenditure totalled £3326/13/3, which included the following items:— Mortuary £632/ 4/10, Building Inspector £287/16/6, Town Planning £235/7/6, Sick andholiday pay £187/5/2, Foreman's Cottage £175/14/4, Health Inspector and Traffic Inspector £77/8/4, Valuation £164, Rubbish removal £53/18/9, Women's Rest Room £64/ 9/4, Pound maintenance £25/8/6.

Recoverable Expenditure, Power Loan, £919/17/7, and transfers Fire Services £252 and A.C .Baths Loan Repayment £182/15/7 brought the total expenditure for the year to £16,224/14/10. Electricity Account In the Electricity Account, receipts totalled £9443/13/10 made up as mentioned above, against which the major items of expenditure were Wages £1144/4/10, Loan interest £982/3/10, Truck maintenance £181/3/6, Transfer to Loan Repayment and Loan A/cs £355/9/7, In-

terest Account £404/17/10. Adding to this expenditure the debit balance carried over from the previous year, £415/4/2, the account showed a credit balance at March 31, 1954, of £5480/7/4.

Library Account Commencing . the year with a credit balance of £385/19/9, the Public Library Account showed income for the year of £141/18/3, made up of: — Rate arrears £14/ 16/1, Subscriptions £82/17/6, extras and penalties £21/7/2, Sale of bo.oks £10/17/6, Donation £12. Expqnditure totalling £228/19/5 was made up of: — Purchase of books £177/3/11, Stationery £42/15/6 Wages £9, leaving a credit balance at March 31, 1954 of £298/18/7.