CITY FINANCE
'ADJUSTING ACCOUNTS.
The Mayor (Mr. R. A. Wright) in-, formed ths City Council la6fc night that, on the reeommendatipn of the- City Treasurer, certain adjustments in the corporation accounts were being made. It was desirable to make these adjustments before 31st March, as next y4ar the council had to live within its inconih, in accordance with the Local Bodies Finance Act. The District Fund Account had borrowed from the Electric Lighting Account sums of £50,000 and £70,000, the latter to carry on the Orongordngb work and to be repaid when the city loan was floated. The sum of £120,000 was to be transferred' from the District Fund to the Lighting Account. Thd Tramway Account had borrowed £25,000 from the District Fund, and this was to be repaid, £10,000 of the repayment coming out 8f the Tramway Accident Fund. The result of the adjustment would be to increase the District Fund debit by £95j000, to increase the tramways debit by' £15,000, to increase this Electric Light credit by £l 20,; 000, and to Teduce this Tramway Accident credit by £10,000.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19220331.2.138
Bibliographic details
Evening Post, Volume CIII, Issue 76, 31 March 1922, Page 11
Word Count
181CITY FINANCE Evening Post, Volume CIII, Issue 76, 31 March 1922, Page 11
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in