LOCAL BODIES

Evening Post, Volume CXIII, Issue 138, 15 June 1927, Page 11

LOCAL BODIES

RESOURCES, ASSETS, DEBTS

T , . ,_. "Evening Post," 15th June. 1 iq?,? • t Lcxi a, l. f uttorities Handbook" for t 1927, Dust published, the Government BU- ' tistician furnishes some interesting figure l o£ local authorities' financial. resources and their indebtedness. As at. Ist April, lU^j tue rateable values were, capital £565 ana! 1 978, unimproved £320,010,610. Grow valu- 3 ations were, capital" £603,250,306: unim- ] proved. £341,017,952. ' ] £D'7«S?qh ?f sets °f the.Dominion were 1 £1>,743,969; the other assets (estiinatptO ' were £53,646 527, Th e ■'estimated" S I are. described as conserVativc'roads not 1 fe Dg V* t, he iasset6 ' »°*vith S tand"ng ] their great value, and yet the greater part < of the -expenditure of counties and road districts is on highways and footpaths, while m the boroughs 27 per cent, of the loan moneys have been expended upon a™i s the five >'ea™ preceding Ut April 1926. Assets other than cash fa. £d£i sTT^' £3 '67^4W; electric worfa, x,%<ni,nzi; drainage and sewerage, £7,838 - ' 629; gasworks, £1,291,759. ;Har§6ur Board < assets, other than cash, total 1 £13,754,908 • of which £3,471,651 is represented by reclaimed land, £6,826,000 by wharves and 1 piers, ±888,150 by endowments, £508,578 ■■ by dredges and tugs,, and boats, and .-' £624,380 by docks and ships'. ' Local, body indebtedness amounts to : £51,726,897. In 1916 it :tu £20,754,168. Electric power districts come in in 1921 ' with £147,750; in 1926 .this debt had ; grown to £8,745,755. Borough indebtedness ■m Miff-was £11,086,719; in 1920 it amount- '■'■ ed to £25,607,439. Harbour Board debt i was £7,014,390 in 1916; la ;1926, it was '< £9,845,766. Disregarding loans from the Government, which amounted to £3,593,- : 697, the Government Statistician shows that at 31st March, 1026, the municipal ) debt was as follows:—. • - i • . Cities and boroughs ...'.V.:..'.V 25,607,439 City and suburban -drainage"" ■board's- ..■.;.-.,::..-;- - 1,986,600 Chnstchuwh Tramway Board .. 1,075,600 Hutt and Petone Gas Lighting Board ..;...................;. 64441 '■ Fire Board ...:....„;.....;;.;.• 188,007 £28,922,687 Classifying the amount according to the ■' main purposes for, which it-was raised, the .Government Statistician finds 31.5 per cent, due to drainage, sewerage, and water; 18,5. pe;: cent, to streets, footpaths, and ' bridges; 16,1 to electric "supply and light- '. ing; 15.7 per cent. Jo tramways; 3,2 per ; cent, to gas; 2.8 per cent, to buildings; 1.0 perccentt t to parkVarid-reserves; and 11.2 per cent, to miscellaneous and unclassified.' Excluding Government loans, the total indebtedness of local bodied as at 31st March, 1926, is classified as follows:— . ■■ ■• ■-•■•■■; ,-. • ' ■'■■■: ■•-■■ ■■■••■• '.■'.-:£• p.C, - Electric supply ...'.....' 13,398,344 25.9 I Harbour worka ......... 9,845,766 19.0 Drains, sewera, water".. 9,279,523 18,0 ;■ Kdads and bridges .... 8,797,279 17.0 Trams .1:...............: 4,579,739 8.8 '< Gas .............;...:... 915,448 1.8 Buildings 823,448 1.6 Parks and reserves'..... -303,692 0.8 ■ Miscellaneous 2,787,880 5.4 Unclassified ;.. v 995,865 . 1.0 i . £51,7-26,897 100.0 '< Net liabilities and assets for 1923 were as follows:— . ' '.."' ' ' < All Bodies. Boroughs. ] Liabilities ....... 02,549,798 24,795,422 '. Assets 63,390,496 30,469,117 ! Of a total indebtedness (other than loans from Government), amounting to ' £51^726,897, there were £34,863,971 raised ; in New Zealand'and-£16,862,926 raised abroad; Of the amounts raised outside the Dominion. £12,404,290 were raised in the United Kingdom and £4,458,636 in Austra- : lia. Loans maturing within the next twelve years amount to £19,940,272, or 38 per cent, Unexpired and unexercised balances of loans a<; 31st March, 1928, were i £10,007,851../ . . ....' ' '.;-. ./.-, •_ : .