LOCAL BODIES' FINANCE

Evening Post, Volume CXX, Issue 140, 10 December 1935, Page 16

LOCAL BODIES' FINANCE

THESIS COMPETITION

FAR-REACHING RESEARCH

Seven entries have been received in the thesis competition arranged by the New Zealand Society of Accountants on the subject of the'finances and accounts of municipal corporations (including their various trading enterprises), electric power boards, and county councils. The judges are Messrs. A. E. Mansford (Mayor of Palmerston North), G. A. Lewin (Town Clerk, Dunedin), and C. G. Collins (Supervisor of Local Bodies' Audit, Audit Department, Wellington).

A sum of 100 guineas will be granted as a prize or prizes. The competitor who gains the highest marks will be also awarded the society's gold medal for research.

The scope of the thesis includes methods of rating, budgeting for expenditure, purchasing systems, stores control, methods of depreciating, costaccounting systems, use of statistics and the graphical presentation of facts and figures, office organisation, and use of mechanical aids. The prescription concludes with he following section-— "Arguments for and against the statutory methods of local .authority finance and of keeping and presenting local authority accounts; suggested improvements; the need for a standardised .system of classifying receipts and payments, and/or income and expenditure as a basis for the compilation of a combined annual statement of accounts for all local authorities or otherwise; the need for long-range planning of civic works and improvements, and of the financial provision therefor; generally any suggestions for the improvement of the financial and administrative methods and organisation of local authorities."

When the competition was projected leading members of the society expressed their belief that the result would be very helpful in the formulation of necessary amendments of legislation affecting local bodies. It is expected that the winning thesis will be published in book form.