AUDITOR'S "TAG."

Auckland Star, Volume LXIX, Issue 97, 27 April 1938, Page 18

AUDITOR'S "TAG."

STEADILY DISAPPEARING. MOUNT EDEN'S ACHIEVEMENT. The opinion that the "tag" which the Government auditor has attached to the Mount Eden Borough Council's overdraft account for some years past would disappear next year was voiced by the Mayor, Mr. T. McNab, at last night's meeting of the council, when the balancesheet and statement of accounts for the year ended jttarch 31 last was presented by the town clerk, Mr. A. Jack. Mr. McNab said the "tag" Was first attached about seven/years ago; but the council in the intervening years had been extremely fortunate, and the ratepayers had responded wonderfully, and the overdraft had been reduced from £46,000 in 1933 to £13,000 in 1038. "I hope no future-' Mayor of the. liorough will have to go on his hands and knees to a hank manager as I had to do shortly after I took office," said Mr. McNab.

Mr. Jack said that the estimates of receipts had been well maintained. For the last seven years the audit office had taken exception to the fact that the sum of the overdraft and temporary loans was in excess of the outstanding revenue of-the year, which was illegal. Although the overdraft' had been so much reduced it was not sufficient to eliminate tlie "tag," as the set-offs were also considerably reduced, but it was satisfactory to know that the borough finances were within measurable distance of being placed upon a legal basis. The rate collections showed that the anticipated 00 per cent has been collected. the total reaching £91,(164. The water account for the year showed a credit balance of £1011. Mr. McNab said he had heard.it suggested tbat the present annual charge of 7/fl for the collection of rubbish would be abolished. "If it is abolished it will mean an increase of 1 5-8 d extra in the rates." Mr. K.' Mills said he was pleased to see t.he, finances of the borough in such a satisfactory position.

On the motion of Mr. K. Buttle a resolution expressing appreciation of the work of the town clerk and his staff during the year was passed.