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Among the various reports which will be submitted at to-morrow night’s meeting of the City Council is that of the Finance Committee, who state that with reference to the financial position of the Corporation, referred to them for consideration, they have carefully examined the same, and the following report has been prepared thereon by the Town Clerk

The estimates of the current year passed in February were based on a calculated revenue of L36,"‘;0, which sum the expenditure would entirely absorb. So far thete is reasonable probability that the revenue will be sustained, and the expenditure not exceed the estimate. The cost of City works was estimated at L 4,500, such sum enabling the Works Committee to make ample provision for all known necessary maintenance works and repairs, but not for extraordinary undertakings. At the beginning of May now contracts for dust removal and street cleansing having been entered into at considerable reductions on former prices, the Committee revised the City works estimates, and ascertained there would be a balance of L7lO available for extraordinary work, but subsequently reduced to L 485 in consequence of an unexpected increase in the price of road metal and outlay on Forth street bridge. The sum, then, of L 483 is all the Works Committee have for contingencies. A survey of the town is now being made, aud future work will bs strictly regulated by the funds in hand and according to a settled plan, and if this can possibly be adhered to the finances at the end of the municipal year will undoubtedly be in a sounder position than thejr have been for some years past. The municipal revenue can scarcely bo expected to share for a year at least the benefit of improved times; but the water and gas departments, with continued good management, will certainly show favorable results. I confidently expect that the total bank overdraft will on March 31, 1890, be L 2,000 less than it was at corresponding date

th's year, Adam Gibson. The Committee then state that in view of a sufficient balance being apparently available for incidental work, they recommend that the arrangement proposed by the Dunedin and Suburban Reserves Conservation Society in respect to the Triangle be carried out, and that fresh tenders be invited for fencing the same.

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Bibliographic details

THE FINANCES OF THE CITY., Issue 7942, 25 June 1889

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THE FINANCES OF THE CITY. Issue 7942, 25 June 1889

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