NO LOAN THIS YEAR

Bay of Plenty Times, Volume LX, Issue 10697, 16 October 1931, Page 3

NO LOAN THIS YEAR

; Keeping Within the j Estimates. I I>K(TSION OF BOROUGH COUNCIL. i At a meeting of the Borough 1 Council on September 23 the following motion, moved by Cr Newsham and seconded by Cr Allely, was car-ried.--That the Finance Committee be asked to bring down a report with a view to the finances being kept ■within the estimates for the current financial year without having recourse to any loan.

A clause in the report of the Finance Committee, submitted to the Borough Council mi Wednesday night regarding the current year’s estimates stated that the Committee report to the Council that after going fully into the finances of the Borough and the amounts available from the estimates tiiat the Committee considers it possible to carry out the work under the various scheduled headings and make provision for unemployment relief for the remainder of the year, and that Hie matter of carrying out of flit- works be left to the Works Committee to bring down an amended

schedule in aronlaiii-' with the altered circumstances. C’r lies, Chairman of the Finance Committee. moved - -That the report be adopted. Cr Newsham seconded. 'Hie Mayor snid a committee had been appointed to consider (lie question of raising a loan. That Committee had held two meet ini's and had derided to recommend the Council to ask the ratepayers for a loan of flalio with the object of effectin.: permanent improvements to Cameron Hoad. The conditions of tlie Unemployment Act, however, were being changed' and it appeared as if Scheme No. 5 would be curtailed. He thought, therefore, that the question of a loan in regard to unemployment relief should be dropped. He quoted the following figures in regard to the finances: Estimated revenue, available.— Construction £24 0. maintenance £307. Total, £64 3. Estimated expenditure for six months October 1, 1931, to March 31, 1032. —Foreman’s wages £l4O, surfaceman’s wages £IOO, two lorries £IOO, conversion of roller £4O, benzine £SO, outstanding accounts £2O, insurance on relief work £3O. Total

£4BO. The above estimates would leave a credit of £IG3 for contingencies. Since the statement had been compiled some small accounts had been received, which would reduce the estimated credit to about £13(5. There Was also an extra amount consequent on the reduction of (on per cent, in salaries and he thought the Council would he able to see Us way through to the end of the current financial year without any loan. The motion was carried. The Works Committee reported that a meeting of the Committee was held at Faulkner’s Corner on October (5. A general review of the Borough was made with the view of providing work for the unemployed during the next six months and the following was agreed to: 1. —Levelling First Avenue, which has been already authorised, will be gone on with first. 2. —Grading Seventh Avenue. ;t,—Grading a portion of Hamilton Street west of Cameron Road. Cr Whiting, Chairman of the Committee. explained that all the work was practically earth work. The clauses were considered seriatim, and 1 all were adopted. Cr Whiting said work was required in other avenues, but the Council would have to wait and see how it would get on under the unemployment relief scheme.