FINANCIAL P0SITI0N of the CAMBRIDGE TOWN BOARD.

Waikato Times, Volume XIX, Issue 1630, 14 December 1882, Page 2

FINANCIAL POSITION of the CAMBRIDGE TOWN BOARD.

-♦ It will be seen from the following statements of the receipts and expenditure of the Cambridge Town Board since ontering office, that their financial position' is not so unsatisfactory as some of the public incline to believe. At the meeting of the board held on Monday evening last, the chairman, Mr T. Wells, submitted to the commissioners a few remark*? on the financial position of the board (it the present stage of its existence. He had prepared and submitted three rongh drafts showing the board's position to the 30th Nov. For conciseness, shillings and peace were omitted. The first will show the 7 receipts and expenditure, and is as follows :— Expenditure ; Itoads and material, £233 ; Clement's case 5 #100 ; smidrios, £46 ; Karapiro, £304 : other expenses, £37 ; old board's overdraft, £240 ; total, £061., Receipts. — Karapiro, .Government and C. Council, £360 ; licenses,' £193 ; rates', £120; other sources, £48; overdraft, £235; total, £961, The second statement would show the Karapiro bridge accouut when completed. Karapiro. — Expenses : Money paid, £304 ; balance of estimate, £696; total, £1000. Receipts.—Casli received from Government and C. Council, £360 ; cash to receive from Government, £340,; town to make up, .£300 ; total) £100,0. The thtfd statclhentwoiild, show, the board's positjorvif all assets jaawr due' w,ere oollootod, ftiid^all liabilities'" dise'hargeas^-'JwTttbjlitieii 1 .- — Karapiro, £700 ; Clement's . arid Hose, £230 ; incidental liabilities,', £6s ; Bank of New Zealand, £238 ; total, £1233. Assets. — Rates, £200; Karapiro account, £345 ; other sources, £100 ; deficit, £593 ; total, £1233. * From these tables it would therefore be seen that the total indebtedness of the board over their assets was £393. The board came into existence on the Ist ' of June with a debit balance of £240, so that their increased indebtedness was now £353. ' And this deficit was nearly all accounted for by Clements, and Rose's claim. Consequently, had this claim not arisen it would be, seen, the town would have built the Karapiro .bridge, costing about £1000 ; commenced the, drainage of the upper portion of the town at a cost of £70, made and gravelled many miles of new streets at a cost , of about £250, and oar-ried on the ordinary business of the board tor an increased indebtedness of £23. , Nothing was, therefor^n§cqsBary>to L restore their financial equllibrium^uifojfy^em^tij^suspend r all works but 1 jfchpae ' absolutely necessary u&ilth(Sn'ewVatH3fwasidue. / { >

The "Waikatb Land Association invite tenders for 'drtlarjririg andj deepening ajb'out 10 miles of drains., Intending contractors will be shown the ground-bn 'Thursday^ 1 the^ 3lst inst., starting from Woodlands at 0 a.m. ■' Mr J. S. Buokland wiil hold his Christmas ..inarket Kalo of fat c'*ttl<v sljeep, lambs, &c, See, at the Cumbridffa yards on Tuesday next. On .Saturday, the. 53rd, ho, will hold-"* cattle sale ! at r^aniiwahikri ilnconbe^uencfe of Boxing' Day, iallihg' on „hjfe at Ohaupo he will sell at that place on the.dayjfoHpyping, JWcdncsdaVj 27thvWQenhc ! wiHj6ffcr'206'ncad j mixed stored; fat caitlo^fatslieeK^eV^Ji^^l ; ' ■- j'yA-T a|fair of ;th9^Gongi«gatipr^l'{G|mrqh ,