CITY FINANCES

Press, Volume LXIX, Issue 21033, 8 December 1933, Page 7

CITY FINANCES

THE ANNUAL ACCOUNTS POSITION BETTEK THAN LAST YEAR The annual reports of the officers of the Christchurch City Council provide I information on many of the activities of the municipality and the report of the city treasurer (Mr J. W. Niven) contains a comprehensive survey of the finances of the city council. The reports for the year 1932-33 were issued yesterday and the salient point of the report of the city treasurer is that on March 31 last the position of the general account was that it was £11,163 better than on the corresponding date last year. The details for 1932-33 follow: • £ Estimated payments on General Account .. .. 171,530 Actual payments 168,116 | Payments less than estimated 3,414 Estimated receipts .. 171,530 Actual receipts .. 183,612 Receipts more than estimated 12,071 Position of Cash Account better than estimated .. 15,486 _ The position of the General Account is thus shown:— £ Uncollected revenue and advances, 31/3/32 .. 29,287 Less, dr. balance on 31/3/32, £9097, and current liabilities, £4660 .. 13,758 Net balance 31/3/32 .. 15,528 Uncollected revenue 31/3/32 £24,137, plus cr. balance I 31/3/33, £6383, £30,520 less current liabilities, £3827 .. .. 26,692 Position better than previous year .. .. 11,163 The above position, the city treasurer remarks, can be attributed to a great extent to the system of expenditure control whereby the chairmen of committees and officers of the several departments are kept advised of the position of the expenditure of their departments against the amounts provided by the council's annual estimates.

Comparison With the Previous Year. The report of the city treasurer for the year ended March 31, 1932, stated: £ Estimated payments on gen« eral account .. .. 195,575 Actual payments .. .. 181,002 Payments less than estimate 14,573 Estimated receipts .. .. 132,337 Actual receipts .. .. 172,739 Receipts less than estimate .. 9,593 Position of cash account bet(tcr than estimate .. 4,974 The position of the general account was thus set out:— £ Uncollected revenue and advances, 31/3/31, £32.000, less dr. balance on 31/3/31 £835, and less current liabilities 31/3/31, £14,895 .. .. 1(5,870 Uncollected on 31/3/32, £29,287, less dr. balance on 31/3/32, £9097, and current liabilities £4660 .. .. 1:5.758 Net balance, 31/3/32 .. 15,528 Position worse than previous year .. .. 1,341 On March 31 last cash in hand, or at the bank (less unpresented cheques) was £247,468 2s 2d; as compared with £181,225 2s 2d on March 31, 1932. The position on March 31 last was £66,243 better than a year ago. Rates Levied. The general rate levied for 1932-33 amounted to £113.403 4s 7d, a decrease on the previous year of £12,821 19s 9d; street lighting £9130 17s, an increase of £llBO lCs 4d; lire prevention, £6352 14s sd, an increase of £268 12s 4d; water, £22.577 15s 3d, an increase of £230 3s 6(1; sanitation, £2417 ss, a decrease of £392 9s 8d; hospital and charitable institutions, £28,896 2s 4d, an increase of £2002 Is; domains, £2483 19s lid, an increase of £69 5s 8d; drainage board, sewerage, £25,260 8s 6'd, an increase of £ll3l Us Id; drainage board, rural, £347 7s 2d, an increase of £172 3s; and Waimakariri River Trust, £11,718 4s 7d, a decrease of £279 Us 2d. The increases total £3923 4s 7d, and the decreases £14,625 lis Bd, the net decrease being £10,702 7s Id. The capital value of property exempt from rating was £2,745,911; unimproved value, £1,265,863. Because of these exemptions, genera} rate to the amount of £11.867 9s, which otherwise would be payable by th,e owners of the exempted properties, is charged against ratepayers;' the previous year this total was £13,121 9s Bd. Trading Accounts. The municipal abattoirs showed a profit of £327 12s 8d; the municipal baths a loss of £B6l 0s 8d; the municipal quarries a profit of £4lB 0s 9d; the electricity department (show room, wiring, etc.) a profit of £16,025 16s lid; same department (interest on investments, fixed deposits, and rents) a profit of £6425 6s 6d. The net profit was £22,335 15s 2d. In 1931-32 the net profit from the trading departments was £54,030. The profit from the electricity department (show room, wiring, etc.) was £16,593 more in 1931-32; from the quarries £10,717 more, from the abattoirs £1386 more, and from the electricity department's investments £2BOB more. The Public Debt. The figures relating to the public debt of the municipality as on March 31 last as compared with March 31, 1932, are as follows (shillings and pence omitted): — 1933. 1932. £ £ Loans authorised 1,796,759 1,846,572 Debt outstanding 1,384,014 1,316,024 Accrued sinking funds .. 332,848 310,580 Estimated sinking funds accrued on inscribed loans .. 24,800 23.360 The increase in the debt outstanding is £67,990. '