CITY FINANCES.

Auckland Star, Volume LIV, Issue 105, 4 May 1923, Page 4

CITY FINANCES.

THE SEPARATE BALANCES. LOANS TO HE REDEEMED. A statement of the city's finances an* works iva 3 made by tlio Mayor (Mr? 11. Guneon) last night in placing before the newly-elected council estimates If the current year for consideration and adoption. Last year, he Pa id, the «♦; mates provided for receipts totallm* £200,520 in the general account and'? ' penditurc of £ 108,403. This year it. estimates provided for receipt, amount! ing to £220,001 and expenditure nf £213,820 During IBMi be. eight loans maturing, two in ln-y? f £13,000, and six in 1924 azgWtin£ol OOO: Only two of these* ££$ sinking funds and the sinking f un d s u-ere merely nominal. The policr of providing adequate sinking funds " wa s one the council should adopt. Respecting unissued loans, the Mayor ' stated that the council had.been successful in the past year in disposing of its ■ debenture issues on favourable. 0 terms The authorised loan balances unissued now- were:—Tramways (1921 l o "a n i £,35,000; drainage, £17,000; on account of Drainage Board. £25,000; street improvements, £190,000; Zoological Park £20,000; library buildings, etc., £16000 , ' tramways (192.3" loan), £70,000.' '-■'*< THE SEPARATE BALANCES. The balances of the statutory accounts of the city were:—ln credit: General account, £9171 18/4: waterworks, £19,631 15/9; waterworks deposits. £251 IS/0Costley Free Library bequest capital account, £12,150; deposits account, £1253 10/; .Lucerne Estate Deposit Account £101 15/7: Free Public Library account' £2032 18/; Leys Institute, £53 5/U-' improvement trust, £1302 15/11: charitable aid, £2220 12/3; sanitation account £270G 4/1; electricity account, £7828 1/3: Waiatarua Park trust account £3345 9/3; Town Hall instruments fund £40 0/; markets loan, £5907 8/8; workers' homes loan, £3(i 13/10; Grey Lynn water supply extension loan," £2130 16/10: Remuera drainage loan, £192 8/5' consolidated loan (1909), £594 18/9! Eden Terrace drainage loan. £87 3/7consolidated loan (1914), £195(i 14/ji fish market loan, £1490 13/9: interest account, £13, lot! 6/U; tramways loan (1020). £2000; sinking fund re proposed loans (tramways profits), £17,150 3/5; deposits workers' cottages, Grey Lynn, £330 12/1; Grey Lynn loan f £32,500)! £30 11/3; consolidated loan (1921), £98,434 17/5; tramways account, £5198 0/3; workers' homes, Grey Lynn (Xo. 2 loan), £46!) '.)/; abbatoir additional loan, \ £19.900; refuse destructor additional loan, £3165.5/ S. In debit. —Auckland and suburban drainage account £1821 13/5; Beach Road and Jermyn Street account, £70,403 16/1; .' abattoir account, £1334 1/4: produce markets account, £9300 3/8: fish market account £5107 6/5.