BOROUGH FINANCES

Greymouth Evening Star, 22 May 1942, Page 2

BOROUGH FINANCES

MAYOR REVIEWS POSITION Speaking on the subject of finance, at last evening’s meeting of the Greymouth Borough Council, the Mayor (Mr. F. A. Kitchingham) said that, in the estimates, the Council allowed for an overdraft of £3OOO. Figures had been taken out at the time of the previous meeting, but had not' yet been checked. After considering the District Fund Account, cheques outstanding, cash in hand, and other items, they ended up with a debit balance ol £2'39/14/4, but to that had to be added various deposits, and the unexpended portion of the Centennial Rest Room moneys. The result was an overdraft of .<£2489/13/7, as against the £3OOO budgeted for in the estimates. That appeared to him to be eminently satisfactory, considering that considerable amounts were laid out in connection with E.P.S. and other matters. A good part of the E.P.S. expenditure would be refunded. The overdraft was over £5OO less than was budgeted. They had now started to accumulate a fund in connection with the Town Hall, and they had set aside for that purpose in a separate account a credit of £523/2/11. They had also started an abattoir depreciation account, in which there would be £lBO. Gasworks depreciation had been going on for some years. Considerable credit must be given to the Outstanding Revenue Committee. Detailed figures in that connection had not yet been taken out. In 1940-41, arrears of rates and rents increased compared with the previous year, but it seemed quite likely that the total had been decreased during the present year. There was no doubt, however, that _the ensuing year was going to be more difficult. The hospital rate would go up by £lOOO. There would be considerable expenditure on E.P.S. Certain properties were being vacated, and the Council might find more difficulty in collecting rates. They would have to go very slowly this year. It was disappointing, but there was the war to be taken into account. The Engineer had certain plans in mind which would be available if the war should come to a speedy conclusion. It was desired that work should be found immediately men returned to civil life. Drainage work would be eminently suitable for. that purpose. Mr. Kitchingham said he hoped that the Council wbuld regard the figures as satisfactory.