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DHAINAGE BOARD

The fortnightly meeting of the .Drainage Board was held last evening, and attended by Messrs J. S. Douglas (.chairman*, J. Small, J. Arkle, W. Belcher, J. H. Hancock, and W. Farquharson. Mr Small, in. moving the adoption of the Finance Committee's report, said that a statement had been made up giving certain information asked for by Mr Belcher. Shortly, tho effect of the statement showed that the board, on the 6th of November last, were overdrawn to the amount of i £35,562 against the authorised overdraft of £BO,OOO, which loft available £44,657. In regard to tho house connection account of .£25,000 tho sum of £4,164 was available, but against that amount the board had entered into commitments amounting to £3,406, leaving a balance of £757. Since tho 6th of November last, however, house connections had been authorised •which would swallow up that balance. Therefore, to enable further houso connections to be done it followed that the board would have to float a loan of £5.000 or £IO,OOO. Mr Belcher wanted to know if there was sufficient money available for the carrying on of the work now proceeding in the Kaikorai Valley, and whether there was any likelihood of the work being held up through the board not being in a position to finance it. Mr Small explained that against th« authorised overdraft of £BO,OOO the sum of £44,637 was available, but that there were commitments on the 6th of November last amounting to £15,900. That left £28,737. To complete the work might cost another £15,000 or £IB,OOO, so that that left them with a balance of about £IO.OOO. It would therefore be seen that there was ample money to finish the Kaikorai job. The report was adopted.

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https://paperspast.natlib.govt.nz/newspapers/ESD19141202.2.76

Bibliographic details

DHAINAGE BOARD, Issue 15665, 2 December 1914

Word Count
289

DHAINAGE BOARD Issue 15665, 2 December 1914

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