HARBOUR FINANCES.

Auckland Star, Volume LXV, Issue 126, 30 May 1934, Page 10

HARBOUR FINANCES.

BOARD'S SOUND POSITION. .REVENUE EXCEEDS ESTIMATE. Stating that the accounts for the halfyear to .\larcli 31 showed a decided improvement upon the corresponding period of last year, Mr. T. B. Clay, chairman of the Auckland Harbour Board, assured members at yesterday's meeting of the board that the board would be able to approach the balancing date with confidence of being able to meet all its cash commitments. "The income and expenditure suggested in the estimates showed a deficit of, say, £15.500 for the half-year," said Mr. Clay, "but the actual result was a deficit of merely £1200, Manukau Harbour showing a deficit of £300, but Waitemata ii credit return of £1800. The reduction by £14,500 is accounted for by revenue increase to the extent of £10,500, less sundry contra items, including the recommissioning of the dredger, costing £2000."

"The board having adopted an immediate dredging programme, involving expenditure for the remainder of the year of, say, £0000, and having made concessions in pilotage resulting in a possible easement to shipping of £5000 for the half-year, these figures will increase the deficit for the second half-year to September 30, estimated at £15,500, to £20,500," continued Mr. Clay. "Any revenue in excess of the half of the yearly estimate will, of course, improve the position. It should bo noted, however, that whereas on the averages of the past decade, one might expect the revenue of the second half-year to equal tho first, the experience of the year 1932-33 was that in the second half the revenue was £13,800 lower. Therefore it cannot be expected that the revenue to September 30 will show much improvement, if any, upon the estimate."