THE EDUCATION BOARD'S FINANCES.

Press, Volume LIX, Issue 11245, 10 April 1902, Page 3

THE EDUCATION BOARD'S FINANCES.

At the meeting of the Board of Education yesterday the financial balance-sheet and statement of assets and liabilities at December 3lst was 'brought up. The statement showed, under the head of receipts, a cash balance of £1958 15s 4d, due from • Government for increase of teachers' salaries £917 16s. 2d, the total receipts making, with the defoit balance, £2402 Is 4d, the sum of £5333 7s 10d, which was the amount of the expenditure for the year. This latter included £538 19s .6d due to teachers, and £4874 19s due to Government reserves revenue. Tlbe assets were stilted as 'being -. —Cash in hand £459 13s Id, due from Government, ibolatnce of grant for 1901-2, £3000, making a total of . £345? 13s Id. The liabilities showed amounts due on contracts £1620 8s 4d, deposits on contracts £50 14s 6d, due on account of works authorised £1421, sundry small works £60 19b 6d, due for furniture and apparatus £65 8s 30.

The Ohairman explained that the annual balance-sheet, as required by the Department, did not show tine true position of the Board. The Board on the 31st of December kst aobuaKy held £4674 19s of School Commissioners' money. If this aonourot was deducted from the balance-sheet it would be seen that there was' an actual debit as against the Board in tfhe shape of excess of liabilities over assets of £2402. Indeed, so straitened was the financial position of the Board, that last February the amount requisite for the payment of teachers' salaries had to be made up from the Buildings Fund. While the School Commdssioners' money was of value to the Board, inasmudh as it frequently prevented the necessity for an 'overdraft, members of the Board would understand that this in no way altered the position in which they found themselves. As to the buildings account, there was a credit balance of ,£241 2s 6d, but this "was made up , after tating to credit £3000 of the Buildings Grant not due til February. ■ Therefore, there was feally a large debit balance as against ihe Board' ait the end of tlie year, instead of a: credit. ' • •'■ ".'/-■:•

■Mr Hardy said that there was no douibt that the Board was largely in debt, atJd some one woa£d have to pay the piper sooner or later. ■ '

Mi-Weston said Mr Hardy had stated the case rightly. They were in debt, as all the money was ear-marked, .the .Board could not pay the money. If tihey'plaiqed baiance-sheete before Parliament Vhich did not truly show their position! they. could not hope to get t<be amount voted, to enable them to get over the difficulty. He unhesitatingly stated that the matter was being played with by the Education Department. .'■■■' ' "■'. ; •" . .

The Chairman pointed out that the financial position of the Board, as shown in the returns was a fallacious one, making it appear ..'.that the Board was in funds, whereas the fact wasXthat i|.js<rajß ,snore ;in/debt than last year. '"'' * '*" ,% ■ '