GOOD FINANCIAL POSITION

Press, Volume LXX, Issue 21329, 23 November 1934, Page 20

GOOD FINANCIAL POSITION

♦ SELWYN PLANTATION BOARD INCREASED INCOME REPORTED An eminently successful financial year is recorded in the finance report of the Selwyn Plantation Board, which was-published yesterday. The finance report is incorporated with the annual report of the superintendent (Mr R. G. Robinson), which was published in "The Press" several months ago. New regulations required an adjustment of accounts during the year ended March, 1933, therefore the loss of £1837 5s Id for that year cannot be attributable to the board's operations. Favourable Year Even taking this into consideration, the report says, when comparison with other years is made, it does not detract from the result of the very favourable year which the board has recently experienced. A table is appended showing the cash receipts for the last 10 years, and indicating that the year 1931 was, for the board, the depth of the depression. The total revenue then was £2464. In 1934 it is £5112, the highest since 1925. "This has been effected, first by llie maintenance of rents in the face ot heavy reductions—statutory and otherwise, together with the writing-off of arrears considered to be irrecoverable, and in the board's realising and appreciating the wide market which it has for its surplus wood by reason of the monopolistic position which it occupies. Milling revenue will always be subject to fluctuation so long as an unstable market is the only method of disposal by the contractors," the report says. "Interest, naturally, has suffered a reduction, but depending on the necessity or otherwise of realising on the investments, it should not suffer any further reduction in the future. "The foregoing figures refer to cash transactions only. As stated previously, revenue accounts before and including 1932 were not required by the board's regulations. Great Increases An analysis of the board's income and a comparison with the previous year show that the returns from the sale of firewood have increased threefold, and substantially also from muling royalties/ rents, and tree sales. Every one of the items of expenditure shows a decrease this year. The excess of income over expenditure for the year is £1197 6s 4d. For the year ended March, 1933, there was an excess of expenditure over income of £1837, and the board's position has therefore improved by £3034. Th« accumulated fund stands at £91,194 12s lid.