CITY FINANCE.

Press, Volume LX, Issue 17983, 29 January 1924, Page 6

CITY FINANCE.

... 1 OUTSTANDING RATES. A plaint relative to the amount of outstanding rates was contained in a report presented by the Finance Committee to tho City Council last night. Tho clause stated:—The Committee desires,to draw the Council's attention to tho financial position. On tho 12th instant temporary loans and overdraft showed a. debit baianco of £126,299 12s 7d, being an increase of £33,436 7s 2d on tho. correspontainc date last year. Tho rates outstanding amount to £170,844.3s Id, being £91.017 14s 4d greator than last year _f* ence in tho amount levied ( £lo '^ J *5 8d) is deducted,, an increase of 9s Bd. The item provided in the intimates for interest on overdraft was reduced by £IOOO on tho assumption that the rates would como in as well uhis year as last, but unless the rates are paid promptly, the amount to pay the interest on overdraft will not bo sufficient. Tho committee is of opinion that tho only effective wav of obtaining prompt payment is to take proceedings if the rates are not .paid within a reasonable time, and recommends that notice bo given that all rates unpaid by Februafy 14th next will be sued for without further notice. The Council adopted the recommendation.