PETONE FINANCES

Evening Post, Volume CVIII, Issue 2, 2 July 1929, Page 11

PETONE FINANCES

INCREASE IN $ATES

The following statement was made by tho Mayor of Petone (Mr. D. M'Kenzie) at the meeting of the council last night: "The council, in framing its estimates for the current year, finds that there is a reduction in income, as compared with last year, to the amount of approximately £3700. The causes contributing to the position are as follows:—Reduced proportion of heavy traffic fees £1700; reduction in instalments paid upon tlie properties sold during recent years £1500; . loss of water service to railway workshops (now removed), £500. ; Upon the expenditure side, the council has arranged, for the raising of £20,000, the first instalment of the £61,000 water supply improvement loan authorised by the ratepayers on Ist May. A half-yearly instalment of interest and principal (£460) upon a- portion of this loan, must be met during the present financial year. "During recent years the council has carried out very extensive permanent improvements in the borough,- particularly in regard to streets and footpaths, which has. enabled the employment of a considerable number of men, in addition to the permanent superannuation staff. With the reduction in revenue for street purposes, the council has reluctantly been compelled on the grounds of economy to confine its operations primarily to maintenance work, which means that the services of a number of additional hands must be dispensed with. • "i T1J c "^eessary increase in rates, which includes loan charges on the new waterworks ban, and additional hospital arid charitable aid levy,, now £3769 I9s 3d as against £3565 15s 2d last year, will make this years rate 'approximately 4% per cent, more than the amount paid by individual ratepayers last year."