HUTT BOROUGH FINANCES

Evening Post, Volume CV, Issue 122, 25 May 1928, Page 8

HUTT BOROUGH FINANCES

(To the Editor.) Sir, —In a recent issue'of "The Evening Post" the' Mayor of the Hutt, in an interview, stated that the borough's ' finances wore extremely satisfactory. Ho said that the year commenced with a credit balance of £4000. Naturally the common garden citizen considers this to mean that the income from rates, etc., the previous year exceeded the outgoings by £4000. That, however, is not so according to the general account, which I have before me. Tho balance in tho general account at the 31st March, 1927, shows that the borough had expended during that year £7523 ISs more than it received for rates,'etc. If that is so, then how can Mr. Strand say that 'he commenced with a credit balance of £4000? This makes one just a little bit curious to know whether the present year's very satisfactory position is arrived at by tho same process of reasoning. it started off with an amount .owing— not in tho bank, but owing through overspending tho previous "year, of £7523 18s," but yet ho had a credit balanco.of £4000, presumably in tho general account. Will Mr. Strand explain how lip arrives at this credit- balance?—l am, etc., .TOM THE DOUBTEB. ,