BOROUGH FINANCE.

Taranaki Daily News, 16 May 1921, Page 5

BOROUGH FINANCE.

POSITION IN NEW PLYMOUTH.

MONEY FOR STREET WORKS.

DEMAND FOR MORE WATER.

The financial posit ion of the New Plymouth Borough, as particularly concerning streets loans, is reviewed by the

General Manager (Mr. F. T. Bellringer) in his month!r report to be dealt with by the council to-night.

Concerning the £57,000 loan, the report states that in October last debentures to the value of £22,800 were sold, and the proceeds allocated among the various items in the schedule. Since then, however, the total received from the sale of debentures had been increased tfc £25,500, and it was recommended that the allocation be amended as follows:

Streets, including plant, amount provided in loan £42,000, allocation £l6,* 200; public conveniences, £2OOO, nity waterworks extension, £10,00T), £6000; sewer extensions, £3OOO, £1000; first year’s interest amount allowed in loan £4500 divided amongst the four preceding items, amount spent to date £1264 18s Bd, allocation £2300. Total amount provided in loan £57,000; total allocation, £25,500. The report proceeds to give details of the position in regard to streets, and states, inter alia: —

SUMMARY OF STREET ALLOCATION

Allocation £16,200; plant purchased and authorised £5305 Us; streets under construction, £5082 Is Id; streets authorised, not commenced, £2493; street widening £2000; total, £14,880 12s Id. Balance available 31/3/21 for loan works £1319 7s lid. Tn connection with the above it must be remembered that whilst the residents of the Frankleigh Park district since March 31 last have taken debentures to the value of £5OO to enable the Govett Avenue to be constructed, £2OO of this amount was placed to the credit of the tramway loan of £22,500 in order to keep that loan alive. The amount shown as available above will therefore be reduced* by £2OO. This works out somewhat better than was anticipated some months ago, but this is largely due to the fact that the authorisation of the tar storage wells £ 1600 and road to wells £2OO has since been cancelled.

WATER ALLOCATION, £6OOO.

Estimated repairs steel mains, £2100; Veale’s Estate, mains (half cost to be refunded later by Labor Department), £2000; amount expanded to March 31 on various extensions, £B5O Is 6d; balance available, £1149 18s 6d.—Total, £6OOO.

In regard to the waterworks the demand for extension of mains is inces» sant. The small amount available pereludes any of the larger size mains being installed, although they are urgently required in all parts of the borough. All that can be done is to lay small communication pipes where most urgently required, and where the applicants bear the greater proportion of the cost. This is admittedly unfair to the applicants, and the laying of the smaller communication pipes means extra expense later on, as the small pipes will have to be taken up and replaced with large mains. Unfortunately, in view of the small amount of money available, the council have no option in the matter

SEWER ALLOCATION, £lOOO.

Taking levels, comprehensive scheme, vote on account, £750; amount available, £2so.—Total, £lOOO.

£lO,OOO LOAN.

The following was the position of this loan at |larch 31 last:—Credit balance, £1694 15s 2d; balance required to complete works in hand, Lemon Street, Eliot Street to Hobson Street, £142 17s lid; Courtney Streep, flobson Street to Watson Street, £192 18s; St. Aubyn Street, widening corner of Queen Street, no estimate vote, £221; Devon Street paths, £323 8s; Cover Street balance, £319 Gs 3d; Liardet Street tarring, £lB4 2s Id; Dawson Street, £55 2s 6d. —Total, £1438 14s 9d. Allow for contingencies ‘on above, £256 0s sd, making a total of £1694> 15s 2d. •• If it be found later that the contingencies are not required, the Council intended to utilise any money available in continuing the asphalting of the footpath in Devon Street. It was thought desirable, however, not to authorise the work until it was seen that the money would be actually available,