Drainage Board has $2M surplus

Press, 23 April 1986, Page 9

Drainage Board has $2M surplus

The Christchurch Drainage Board has a surplus of more than $2 million from the last financial year because of underxpenditure and underestimated receipts.

Most of the underexpenditure (almost $1 million) was on capital works, according to a finance report. The rest was on miscellaneous items, the district account, and maintenance.

Overexpenditure occurred in the sewer loans account (about $261,000) as a result of repaying renewal loans, the report said.

Revenue from rate receipts, interest, and miscellaneous receipts was about $920,000 more than estimated. The board spent about $21.5 million last year including about $3.5 million in capital expenditure. Its estimated total expenditure was about $22.6 million. Education leave bill The finance committee decided yesterday to support the Canterbury Employers’ Association’s submissions to a select committee about the proposed

Education Leave Bill. Any employee who is a union member may be selected by the union for paid union training at the employer’s expense, the bill proposes.

It was described by the finance committee’s chairman, Mr R. E. Wilton, as incredible and mind-boggling. “We have had very short notice in which to make submissions to the select committee on this proposed bill,” he said. “With April 24 the submission deadline we have no time in which to make our own submission.”