WAIMATE COUNTY FINANCES

Press, Volume LXXV, Issue 22802, 30 August 1939, Page 4

WAIMATE COUNTY FINANCES

OVERDRAFT OF MORE THAN £IO,OOO “POSITION SHOULD SOON RIGHT ITSELF” A bank overdraft of £10,091 6s 8d was shown in the financial statement of the Waimate County Council presented at the monthly meeting of the council. Although ■ councillors , expressed some concern at the position, the chairman, Mr J. Bitchener, said he thought the position would right itself in a month or two. Nothing more could be done in the matter of economy and he suggested that the matter should be reviewed properly at a later date. Cr. A. N. Hayes, chairman of the finance committee, suggested that the whole council should sit as a committee and investigate the position. Cr. N. A. Rattray, in support of this suggestion, said that ratepayers when they read about it in the papers would be greatly concerned and that they, as well as members of the council, should know the reasons for such an exceptional overdraft. The chairman’s suggestion that the matter should be left in abeyance in the meantime, was, however, adopted. The county clerk, Mr L. J. Collins, said that the council had begun the year, starting on April 1, with a credit balance of £4OOO, as compared with the usual £6OOO, which accounted for £2OOO. Money expended on new plant amounted to £ 1000, It also had an increased hospital levy and two payments of about £IOOO had been made, and none of that revenue had yet been collected. The council had also agreed to go on with the construction work on the Cave-Pareora highway, on which £BOO had already been spent, and a further £SOO had to be added to the cost of the work. There was also £ISOO to come in from claims made on the Main Highways Board. _ Mr Collins said that the council was only asking for the same amount in rates. The Main Highways'claims were to be paid any day. The Christchurch office could not give any explanation why the claims had not been paid. Cr. H. B. S; Johnstone; Money is due from the Main Highways Board, the greater portion of which has been outstanding for two or three months, and the council has to pay interest on the amount which should be paid by the Highways Board. It is riot right. The council should not have to carry the baby. We should take the matter up with other counties and get them to come into line with us. The finance committee should go into the matter and see if it is not possible to get some return for. the interest we have had to pay. , Cr. Hayes said that as the council had to pay the hospital levy long before it collected the rates, it meant paying interest on that amount too. The chairman of the finance committee reported that the debit balance at the bank was £10,091 (in August, 1938, the debit was £3317 14s sd). Accounts presented totalled £4217 8s Id. Since the last meeting the receipts totalled £1514 14s.