Meters Took $126,323

Press, Volume CIX, Issue 32016, 17 June 1969, Page 16

Meters Took $126,323

Christchurch parking meters took in $126,323 last year, $lOOO more than had been estimated, and the City Council last evening estimated for an income of $128,000 in the present financial year.

Looking at the new standard over - parking time fee, the council estimated that this year it would receive $15,000 from fines, against the $4OOO of last year. The parking meters and off-street car parks and buildings are kept by the council as a separate account and do not contribute to the general finances but return to motorists benefits in the form of buildings and traffic control signals.

Summarised, the account showed that the balance at the beginning of the financial year was $217,072. Receipts from the meters and parking areas and buildings amounted to $290,253 last year, and are estimated at $267,074 this year. Against these figures are payments of $244,995 last year and a current estimate of $239,808. This year’s credit balance is estimated at $244,338. The open Tuarn Street park had receipts of $33,652 last year and had to meet payments of $13,207. The Manchester Street building, the council’s first off-street parking building, had an Income of $38,766 to meet payments of $64,769, which included $45,000 for loan servicing. Loan charges are estimated to drop to $40,168.

In Lichfield street the parking building earned $47,512 last year towards expenses of $53,982, which included $32,750 for servicing of the loan.