PETONE BOROUGH FINANCE

Dominion, Volume 11, Issue 30, 30 October 1917, Page 5

PETONE BOROUGH FINANCE

HALF-YEARLY STATEMENT. The half-yearly statement of tho Patone Borough was submitted to the council at its meeting last evening. The Mayor, in explaining the several accounts, said that the debit in the general account had increased bv • J2C9I, which, if tho expenditure was kopt within tho estimates, would be wiped off at tho end of the year. The estimated Teceip'.s for the year were .£10,264, and those for the half-year .£2419, having a balance of .£7815, of which tho Bum of <£6129 represented Tates. The estimated expenditure for tho year was ,£10,204. Of this amount the sum of -C'oll 1 had been expended, leaving J!5153 yet available. The water maintenance account was in debit, 1 as is usual at the half-yearly balance,, to the extent of £517. This amount would be mora than covered by the water Tats uncollected. The motor service loan (,£4000) had a balance of .£962 unexpended. A debit was shown in the account amountjng to against which there were stocks of benzine, oil, and materials The Mayor added that if a profit and loss account had been drawn out, and the items of preliminary expenses and office, charges eliminated, the conclusion come to would be that a satisfactory start had been made. The debit 6hown in the gas account was .£5740, against which must bo placed the anticipated effect upon tho operations of the works. . The cash debit in the coal department amounted to <£426, but this, was more than accounted for by the expenditure vpon additions and the value ot the eoal in stock. A new coal store had cost i"« 89 and a lorry .£SO. A profit and -loss Account was being prepared in respect to tho working of this department, which, when coninleted, would bo placed before tho council. . , ■ The balance remaining to credit oi too sewage loan was .£2OBI, an amount the borough engineer (Mr. A. Cowie) stated was ample to complete the system and to , repair footpaths cut up when the mains i were being laid.