DEPRECIATION
NOT HARBOUR BOARD'S PRACTICE
BALANCE SHEET TAGGED
The balance sheet of the Whakatane Harbour Board was received from the Audit Department at the board's meeting on Friday in the Whakatane County Chambers.
The chairman, Mr J. W. Sumner, said there was a tag on it stating that no allowance was made for depreciation of the board's assets. This had been noted for years and years, but the board spent about £2000 a year in maintaining the assets and did not think that it was necessary to provide for depreciation in addition. Mr Sumner said it would be a hard strain on the ratepayers if they had to provide the money for depreciation in addition to upkeep.
Mr Boon agreed that as the board maintained its groynes and other assets they should not have to provide for depreciation.
Mr Sumner added that provision for depreciation on the £60,000 represented by assets would be £1500 or so a year.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/BPB19390605.2.22
Bibliographic details
Bay of Plenty Beacon, Volume 1, Issue 20, 5 June 1939, Page 5
Word Count
158DEPRECIATION Bay of Plenty Beacon, Volume 1, Issue 20, 5 June 1939, Page 5
Using This Item
Beacon Printing and Publishing Company is the copyright owner for the Bay of Plenty Beacon. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence . This newspaper is not available for commercial use without the consent of Beacon Printing and Publishing Company. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in