MT. ROSKILL FINANCES.

Auckland Star, Volume LXV, Issue 240, 10 October 1934, Page 10

MT. ROSKILL FINANCES.

INCREASE IN OVERDRAFT.

At the meeting of the Mount Roskill Road Board last night, the chairman, Mr. C. M. McCullough, said that although the annual charges for interest on the drainage loan were lower, the actual rate had been increased because the valuations had dropped from £191,000 in 1930 to £115,000. Moreover, some ratepayers in the area were not meeting their responsibilities, and consequently an increasing debit balance was shown in the loan annual charges account, the interest on which was borne by the whole road district. The whole rate levied for 1934-35 was lower than in 1933-34, or in 1932-33. Those who had criticised the board's actions were probably not in full possession of the facts. The clerk, Mr. J. H. Reich, said the board had kept well within its income during the first six months of the financial year. The bank overdraft on April 1 was £10,177, and at September 30 had increased to £14,500. Rate receipts durine the period amounted to £GOB 6, although the time for the rebate of 5 per cent had expired. Payments by the Unemployment Board as a. subsidy on the No. 5 scheme were £9882.