BOROUGH FINANCE

Dominion, Volume 19, Issue 168, 13 April 1926, Page 4

BOROUGH FINANCE

SATISFACTORY YEAR’S WORKING ALL ACCOUNTS BUT ONE IN CREDIT Palmerston North, Apin J2. In commenting on the financial statement for the past year at to-niglii s meeting of the Borough Council, the Mayor (Mr. F. J. Nathan) said that it pointed out quite clearly that the business of the borough over the last twelve months had been run well, efficiently and economically. All accounts with the exception of one ended with a credit. The expenditure had not exceeded the estimates, while the income was beyond expectations. The gas account showed a credit of £6358, which was very satisfactory, although this sum included the sale of the Pascal Street site. The question of reduction in the, price of gas would be a matter for discussion, flic electrical account was particularly pleasing, the income having exceeded expectations substantially. The sum of £l9ll for the extension of mains and service was large, but it was also an indication of the growth and popularity of the undertaking. He hoped ’that the amount under the head mentioned would be just as large next year. This department had been very effectively and successfully managed. He saw no reason, after consultation with the town clerk and electrical engineer, why the council should not be able to cease collecting this coining year the special rate of a halfpenny, which had beefi struck and collected.' Whether it would be possible’to reduce the price for lighting it was rather early yet to say, but with a large number of people connecting up daily be would not say that it would not be possible to give the matter of reduction serious consideration. Such a reduction would be popular with the ratepayers, and the council would discuss it. The returns of the Transit Committee were pleasing because it was the first year which showed a credit from this department, namely. £BOO. “I think the ratepavers of Palmerston North ought to be congratulated on the wav they pay up and look pleasant,” said Councillor R. Edwards.