BOROUGH FINANCES.

Waikato Argus, Volume VII, Issue 491, 23 September 1899, Page 4

BOROUGH FINANCES.

At a meeting of the Executive of the Hamilton Burgessses' Association, held on Monday evening, the subjoined report, dealing with His Worship the Mayor's figures, which appeared in last Thursday's issue of The Arous, was submitted by Mr E. J. Davey, that gentleman having gone through the Borough balance-sheets at the request of members. The report was unanimously endorsed by theExecutive.and itspublication authorised. A resolution was also carried heartily thanking the compiler for the pains he had taken in providing the Association with such an exhaustive and reliable statement of facts and figures. The following is the report : The Executive Hamilton Burgesses' Association : Gentlemen :—I beg to submit the following report on figures over the signature of Win. Dey, Mayor, appearing in issue of The Waikato Argus of 14th inst. :—Mr Dey says that when he took office in 1893, the overdraft stood at £400; on looking up the balance-sheet for twelve months ending 31st March, 1894, I find that the year started with a credit balance of £47 8s Id, and finished up with a debit-balance of £3B 9s Id ; the overdraft on 31st March, 1894 (about five months after Mr Dey took office) stood at £96*33 7d (the difference between this amount and the debit balance of £2B 9s Id consisting of £6O 14s 6d cash in hand) while the total amount of interest on overdraft for the year shows as £4 0s 3d ; so that we need more proof than Mr Dey's bare assertion that the £4OO is correct.—School Bridge ; Mr Dey's figures are £175. For the six years ending 31st March, 1899, the balance-sheets show a total expenditure of £424 16s 2d as against £307 0s 5d 'revenue, consisting of £250 Government grant and £57 0s 5d proceeds of sale of timber (this latter item Mr Dey has evidently not taken into account), so that the extra expenditure is £ll7 15s 9d.— Traffic Bridge : Mr Dey's figures are £450. According to balance-sheets, total expenditure for same period £1452 13s lid (£5 4s 9d out of this is a refund to Waipa County Council, and ought perhaps to be reckoned as for No. 1 bridge) as against revenue (Government grants and contributions from County Councils) £995 10s 9d, leaving a balance of £457 3s 2d ; from this amount, however, must be deducted the amount that would have bean spent on maintenance if new work had not been done ; and this, basing the average on the maintenance expenditure for the years 1891-92-93-94, would be six years at £lB Is 6d—£loß 9s to be deducted from £457 3s 2d, leaving an extra expenditure of £348 14s 2d, less value of timber left on hand at completion of the new work.—Saleyards : Mr W. Dey's figures £2OO. Total revenue for six years, £370 17s lid ; total expenditure for six years, £253 lis 8d; leaving a credit balance of £ll7 6s 3d.—Liauor Sales Control Act: Mr Dey's figures £llO. Balance-sheets figures £llß 16s Id, less a refund in '96 of £l7 14s 9d), £lOl Is 4d ; from this deduct six years at £4 4s (the annual cost before year ending 3lat March, 1895), £25 4s, leaving extra expenditure of £75 17s 4d.—Lamps and Installation : Mr Dey's figures £2OO. Balance-sheets' figures for expenditure £347 2s Jd, less six years average, based on years 1891 92-93-94-95, of £23 3s 6d (£137 11), £2Ol Is Id.-Library Vote: Mr Dey's figures £lO3. Only expenditure for six years was in year ending March last, £195 10s—less subscriptions £l3B 6s 7d, leaving a balance of £57 3s sd. Mr Dey forgets to reckon £35 extraordinary expenditure for Governor's " reception "; he has alto not taken into account extraordinary revenue which was in year ending Marsh, '97, £l5O recovered from Waipa County Council for auctioneers' fees, and £26 14s 6d recovered for law costs; total £176 14s 6d, less total legal expenses for that year £57 12s 7d, leaving a balance of £ll9 Is lid ; nor has he taken into account the fact that in auctioneer's fees for 1897-98-99, the Borough reoeived a total of £163 more than for the previous three years. To summarise:— Mxt wet's figures. £ s d School Bridge 175 0 0 Traffic Bridge 450 0 0 Saleyards 200 0 0 Liquor Act 110 0 0 Lamps and installation 200 0 0 Library vote 100 0 0 £1235 0 0 add Governor's reception 35 0 0 £1270 0 0 balance-sheets' figures. £ s d School Bridge 117 15 9 Traffic Bridge 349 14 9 Liquor Act 75 17 4 Lamps and installation 208 1 1 Library 57 3 5 Governor's reception ~. 35 0 0 £842 11 9 Less credit SaleyarJs 117 6 3 Waipa County 119 I H Extra auctioneers'fees 163 0 0 £399 8 2 £443 3 7 As regards Mr Knox's contention in Saturday's Argub about the Is rate, I might suggest that there are enough assets represented by rates outstanding and in arrears, interest owing on Domain Board, rents outstanding and cash in hand at 31st March last to pay the overdraft and unpresented cheques and still leave a balance of £177 2s 3d to credit. If these were collected, it would mean a saving of about £SO in hank interest on over draft; then we might dispense with the luxury of an Endowment Inspector at £3O per year (which might mean the loss of £4O for auctioneer's fee) ; then keep the Domain Board up to the mark in payment of interest, bringing in about £3O, making a total of £llO (less possibly £4O) available for general expenditure.