“STILL SOLVENT’’

Evening Star, Issue 22639, 4 May 1937, Page 7

“STILL SOLVENT’’

ST. KILDA BOROUGH FINANCIAL STATE REVEALED The position of the borough’s finances was fully explained at last nights meeting of the St. Hilda Borough Council by the chairman of I'inance (Or PJ. D. Anderson) ,in referring to the statement brought , out by the town clerk and his assistant. “The balance sheet compares very favourably with those of P r «y 10 H® years,” said Cr Anderson: It is worthy of no.te that up to March 31 last 89.3 per cent, of rates ’T™™* paid, £21,082 being paid out of £23,0»u. During the year arrears amounting to £3 516 were paid, leaving outstanding a total of £4,029, which, of course, is a handicap. This is the highest percentage of rates paid for a considerate period, indicating that the position of ratepayers is considerably improved. The credit balance at March 31 was the highest for eight years, but although the credit was good, it had. to be remembered that heavy commitments had to be met. It would appear that the Hospital Board’s levy would again be increased, and it was certain that the levy for fire protection would also be increased by about £l6O per annum, brought about chiefly by recent legislation. The council, however, was hopeful of not being compelled to raise the rates, but if the levies continued to increase there would be no option but toi pass the increase on. It should be realised that St. Hilda paid out £3,700 a year in wages, but if casual labour were to be employed through the whole year rates would have to be increased. The borough’s indebtedness at present was £76,000, which represented only £9 a head of the population—a very small proportion considering the size of the borough. Although the council had budgeted for -certain works to be done, this was exceeded by nearly 25 per cent., and yet the borough was still solvent. The town clerk (Mr J. V. Trezise) and the assistant town clerk (Mr A. Moorehead) were to be congratulated on the efficient manner in which they had prepared their statements. Cr Anderson was thanked for his report.