£47,290 NEEDED.

Auckland Star, Volume LXX, Issue 126, 31 May 1939, Page 12

£47,290 NEEDED.

DRAINAGE WORKS. INCREASED ASSESSMENTS. LOCAL BODIES' OBLIGATION. Contributing local bodies to the Auckland and Suburban Drainage Hoard will be required to find £47.200 this year. This assessment, which was announced in a memorandum by the chairman. Sir Ernest Davis, at the annual meeting this afternoon, constitutes an increase of £120.", on last year. Auckland City I} |lS been assessed for £37,505. an increa-e of £708 over last year: Mount Eden for £3610, an increase of -_1 0; Mount Albert for £3230, an i i -rra - i f £140; Newmarket for £1032. ail in- ease of £50; Olio Tree Hill for €1021. ;-;i increase of £88; and Mount Koskill for £283, an £18 increase. "Additional works wore carried out during the year, fit u total cost of £."•2,227." said Sir Erncet. "These works provided employment for 112 workmen at standard rates of pay, in respect of which tile board received subsidies from tile (ioveriniiont Employment Promotion Fund, amounting to £25,301." The total capital expenditure incurred by the board at the end of the year under review was £581 ..",70. The public debt of the board was £522,005, in addition to which there was a temporary overdraft of £2000. The total amount of sinking funds held by the Auckland and Suburban Drainage Loan Commissioners in respect thereof was £58,840 13/, said the Mayor. A draft statement of receipts, expenditure and balances in the board's accounts for the year submitted to the meeting showed a rrciTlt balance of £0-17 in the trout frnd necount and a surplus of £31 .< in tiie general fund account. "The e timate of expenditure in the general fund account, to provide for interest, sinking fund and redemption payments in connection with loans, and for expenditure to be incurred in maintaining completed works, shows that a total sum of £48,107, may be required," said Sir Ernest. "Allowing, however, for the surplus of £315 brought forward and the reimbursement of a sum of £502 temporarily charged to the account at March 31. 1930. being an outstanding amount of subsidy subsequently paid to the hoard by the Employment Division of the Department of Labour, the sum actually proposed to be assessed upon the contributing authorities is £47,200. | being an increase of £1205 on last year's assessments."