OVER £1,000,000

Dominion, Volume 14, Issue 181, 27 April 1921, Page 4

OVER £1,000,000

THE CITY’S REVENUE

NOT ENOUGH TO MEET EXPENDITURE

For tho first time in the history of the city the municipal revenue from all sources during the year 1920-21 amounted to over a million pounds—£l,o7B,42B, to be precise. The following are tho figures co;niparcd with those for tho previous

Totals £1,078,428 £893,683

In giving tho foregoing figures yesterday, tho Mayor (Mr. J. I’. Luke) said that the total revenue showed that the citv was growing rapidly. Any city which could produce £1,000,000 in revenue for the maintenance of its system and new works must rank as one of importance. As against the £1,078,428 received by way of revenue, tho expenditure amounted to £1,106,496, or £28.038 tn excess of the revenue. In ordinary circumstances such a deficit would not bo considered very satisfactory, but in view of the abnormal conditions prevailing the figures were nothing to be alarmed about. It had to bo remembered, too, that-the last increase in tramway fares had-only 'been in operation for two or three months. If the present scale Ot fares had l>een in force for a year past the deficit would havo been much waller. With the new vaNics a good deal more money would be ronin able by way of rates, and that, with a decreate in prices for certain material, should help the City Council to experience a good year.

year:— 1920-21. 1919-20. • £ General (rates) .... 853,096 299,650 Special 26.835 60,755 Tramways 317,695 277 087 Power 32,881 26,609 Electric light 112,318 103,993 Milk 205,000 119,529