MIRAMAR BOROUGH

Evening Post, Volume CXIII, Issue 88, 13 April 1917, Page 5

MIRAMAR BOROUGH

ANNUAL STATEMENT OF

FINANCES.

' A SATISFACTORY POSITION.

Last evening the annual statement of receipts and expenditure for the Borough of Miramar for jtha past year was laid before the council by Mr. T. C. Fox, acting treasurer. ;Mr. Fox 6aid_:^-"The result of the . year's operations can be shortly 6tated ; as . follows:—The debit balance on the general account has been reduced from £3626 to £2739,' that on the interest . account has been reduced from £1447 to £919, that on the Hospital and' Charitable Aid Board account has been reduced from' £247 to £27, while the wharf contribution account has now a small credit. The total reductions amount to £1715 lls 4d, and this may be considered very satisfactory considering that certain items on the expenditure side of the statement are very, much larger than was the case last year. Foremost among these is the sum of £782 transferred to the tramways account to make up the deficiency _between the traffio receipts and the working expenses. Although the receipts from the sale of tickets increased by £570, the car mileage dues rose from £2648 to £3855, a difference of £1207. This was partly due to the raising of the charge by the city from lOd to Is, in consequence of the borough ceasing to supply the current for the ■. cars, and partly to the improved service compared with' that of last year." On the receipts side of the general account few items called for special comment except that of "rates," for both those current and outstanding had com© in more freely than was the case during the previous twelve months. The increases in the tramway receipts, in building permit fees, and in the number of new names Inthe district electors' list possessing a rating qualification were,three: facts „which should be viewed with satisfaction. it During- the year two new loan accounts had been opened, namely, the Hutt Road Construction Loan and the Marine Parade Loan. The former, as its name implied, was raised under the provisions of the Hutt Road Act in order to pay the Miramar Council's share of the oost of the road. The latter was sanctioned ,by the ratepayers in September last, and was to be utilised m the improvement and protection from eTosion of the foreshore in Wbrser Bay. In the interest accounts a payment was made by the Sinking Fund Commissioners of the £12,000 Tramway Loan towards the interest on the < loan. This payment represented the net income from the invested fund, which was now more than sufficient .to redeem the debentures, and although the loan did not mature till 1933 the above arrangement would relieve the rates to the same extent as would the paying off of the loan.