THE BOROUGH FINANCES.

Taranaki Daily News, Volume LII, Issue 361, 12 April 1910, Page 8

THE BOROUGH FINANCES.

THE YEAR REVIEWED. VERY SATISFACTORY POSITION. The Town Clerk Mr. F. T. Bellringer, In id on the table of the "Borough Council last night a statement showing the estimated and actual receipts and expenditure of the borough for the year ended 3Lst March last. His Worship, in presenting the a.nnnal statement of receipts anil expenditure, said the ratepayers were to he congratulated on the financial position of the borough. The statement showed that on some works the Council 'had spent more than the committee's estimate. On the other hand some departments had returned more revenue than estimated, and this more than counterbalanced the other items. In framing the estimates last May the committee estimated that at the end of the year he overdraft would be over £IOOO, whereas it was only £l(>7. He proposed to refer briefly to a few works where the estimate had been exceeded. Streets: Labor and metal £2OOO, actual £2700. Drainage, estimate £2OO, actual £505; plant and material, estimate £2OO, actual £422; asphalting and tarring £IOO, actual £102; forage, estimate £l3O, actual £IS3; general contingencies, estimate £IOO, actual £150; *East End bathing shed, no sum voted, actually expended £53; general inspector, no sum voted, actually expended £O7; reimbursement of streets, estimate £l5O, actual £o7.' On the other hand, the following departments had received more revenue than 'had been estimated for them: Electric light, estimate, '£4ooo, actual

£4750; extra water supply, estimate

£I4OO, actual £1644; rent and reserves, estimate »£735, actual £790 (this item being due to the Council having let the recently acquired building known as Newman's Buildings, to Messrs Nolhn

and Co.); drainage fees, estimate £IOO, actual £230.

The following items' of expenditure had been over-estimated: —Bank charges and interest, estimated £225, a«tually expended £101'; engineers assistant, estimate £llO, actual £55; dog collars and commission, £2l unexpended; waterworks department £IOOO, actual £BSO. The following votes were unexpended on 31st March:—Concrete kerbing and channelling £45; Hobson street culvert, £130; Leach street deviation, £32. In Several other departments a saving had 'been effected, whilst in some cases the estimate !had been exceeded.

The abattoirs receipts for the year were £1448, and expenditure £l4Ol, showing a credit of £47. The Town Clerk must be complimented upon getting in all the rates, there being not one single defaulter. He considered that this was an indication of the prosperity of the town, for the rates collected were upwards of £BOOO. The Council was continuing a progress sive policy, putting down .permanent work. Over £SOO had been spent on drainage during the year, and a similar sum on concrete kerbing and channelling. About three miles of tMs work had not been completed during the past two years. The Council had alfeo 1 made a final payment of £378, thus completing !iia purchase'■ of the old railway line and bridge. All this had been done out of ordinary revenue. The streets had not been neglected. His Worship referred to the re-metalling of Devon street as a first-ciass job. Forecasting next year's finances a little, His Worship said that £4OO pur annum required to meet the interest o.i the €BOOO loan recently raised for the' erection of the Gill and Powderham street bridges, and purchasing Messrs. Nokin and Co.'s and Newman's premises. A further £3OO was now required to purchase extra land from the Harbour Board to comply witii the Government's requirements for Gill street extension. The large and fiineroasing motor car traffic required considerably more expenditure on the streets before! they were suitable for these vehicles:'. ■ His Worship- pointed out that in the past the streets had been metalled out of loan money, but had now to be remetalled out of revenue. Several important streets in the borough had yet to be formed and metalled. ' Talcing these facts into consideration, and that the subsidies paid by the Council amounted to £I2OO per annum, His Worship .pointed out that ratepayers could not expect the Council to continue undertaking new works' without either creating'an overdraft or a slight increase in rates. He suggested that a small loan be raised to complete ihe sewerage scheme, and to complete the formation and metalling of several important streets, for it would take many vears to do this out of revenue.

The ratepayers possessed a most valuable asset in the electric light, and further extensions to the plant should be pushed on without delay. He had no hesitation in saying that the revenue from the increasing number of consumers would have the effect of relieving the ratepayers of some of the burden of rating.

Or. -Dotkrill remarked that there had been a total increase of revenue of over £9OO, which was' a very satisfactory state of affairs. He advocated the establishment of a reserve fund, to be dra-vvn upon for the maintenance of streets and other works constructed cut of loan.