DEBIT OR CREDIT?
CITY FINANCES EXPLAINED.
The financial statement covering the year's operations, and given to the City Council last Thursday night, disclosed a debit balance of £28,314 on the general aocount. On an inquiry being made by n. Post reporter to-day, the Mayor (Mr. J. P. Luke) stated that tlio sum of £21,983 was involved by the. purchase of land under the council's housing-scheme, £4575 in the housing scheme itself, an 3 £8200 in the purchaso of the Consolidated Dental Company's block opposite the Town Hall. Those three Ttems totalled £34,758, whioh sum had been advanced by the general account for the purposes named. When the necessary loans were arranged for a readjustment wouKt bo made. This meant that on the year's workings there was ..an actual credit in the district fund aocount of £6444. ■ ' •
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Bibliographic details
Evening Post, Volume XCIX, Issue 92, 19 April 1920, Page 8
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136DEBIT OR CREDIT? Evening Post, Volume XCIX, Issue 92, 19 April 1920, Page 8
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