CITY FINANCES
MAYOR’S HOPEFUL FORECAST A hopeful forecast of the position of the finances of the city of Wellington was made by the Mayor (Mr. R. A. Wright, M.P.), in an address to the electors at Seatoun, in support of his candidature for- the Mayoralty, last night. “I anticipate that the balance-sheet for the year ended March 31 will bo very satisfactory indeed,” said Mr. Wright. “As is generally known, the City Council i.s now compelled by law to live within its income; at the end of the year, it must not have owing overdrafts to the bank, or owe to any depositors mors money than was outstanding and due to the council. Wo will bo well within the mark, after meeting all our liabilities. Tho exact figures are not yjt available, as the holidays have intervened, but, as soon as we have an official statement, it will be made public. I am more than satisfied with the position, as we have had a very hard year. Wc started it with a known deficit of £6000; that is, our expenditure, after being cut? down to bedrock, was still more than our estimated revenue. In addition to this, we had several contingencies that were unprovided for, such as the visit of the French warship and Health Week, besides a- few other things for which no allowance had been made in the estimates.”
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Bibliographic details
Dominion, Volume 16, Issue 169, 5 April 1923, Page 6
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231CITY FINANCES Dominion, Volume 16, Issue 169, 5 April 1923, Page 6
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