RATE REDUCTION

Evening Post, Volume CXXIV, Issue 13, 15 July 1937, Page 20

RATE REDUCTION

HUTT RIVER BOARD

YEAR'S SURPLUS OF £1600

"This board is probably unique among all the local bodies in the Dominion in that while nearly all are announcing a rise in rates the Hutt River Board is able to announce a substantial reduction," remarked the secretary. Mr. A. J. Gearing, at a meeting of the board yesterday. Mr. Gearing went on to say that the reduction was made in spite of a reduction in the capital rateable value from £6.520,000 to £6.000,000. The result, he said, reflected great credit on the finance committee and the board. The rates will be as follows:—A unitorm general rate of 20/200ths of a penny in the pound on the capital value of all classes. This is a reduction of 5/200ths of a penny in the pound. On the special rales there will ie a reduction from 12/200ths to 8/200ths on class 1 and a reduction from 8/200ths to 4/200ths on class 11. Class 111 will remain at 4/200ths of a penny in the pound and classes A, B. and C at 3/200ths, 2/200ths, and l/20()th of a penny in the pound respectively, a? at present.

These rates will bring in ? total of £3250. Other sources of income are royalties £1400, rents £1000, sales £50 and sundries £50, making a total estimated income of £5750. The expenditure L estimated at £6895, leaving a deficit of £1145. The finance committee (Messrs. J. Mitchell and F. J Jones) proposed to meet the deficit by drawing from surpluses, £580 from the general account md £570 from the loan accounts.

The report stated that during the past year receipts exceeded the estimate by some £1600, made up of rates £850, royalties £650, and rents and sundries £100. The expenditure was lower than the estimate by nearly £170, and there was a credit balance on the year's operations of £1600. Last year the board's receipts were £8292 and its expenditure £6697.

After allowing for the estimated deficit the board will have a reserve of £4500, which it is holding for thf purpose of straightening the channel at Melling.