BOROUGH OVERDRAFT

Grey River Argus, 22 May 1942, Page 6

BOROUGH OVERDRAFT

£5OO SHORT OF £3OOO. The Greymouth Borough overdraft for the financial year is £2489/13/7, more than £5OO less than was budgeted for, according to a statement made by the Mayor (Mr. F. A. Kitchingham) at a meeting of the Borough Council last evening. The Mayor said that the estimates had allowed for an overdraft of £3OOO, but after taking various figures into facdounlt 1 the overdraft stood at £2489/13/7. He said that this figure was eminently satisfactory, considering the amounts laid out for the EjP.S. and other matters which had been discussed earlier in the evening. The Borough had now started to accumulate funds for the Town Hall, which were now £523/2/11 in credit. There was now £lBO in the abattoir account. The Mayor added that considerable credit should be given to . the Outstanding Revenue Committee. For 1940-41 arrears in rates and in rents showed an increase over those of the previous year, but this year there was a decrease. This year, he said, was going to be more difficult. The Hospital rate was up... ■ Cr. J. B. Kent: By £lOOO. By £lOOO, the Mayor went on. Properties have been vacated, and it will be more difficult to collect nates than in the past. He said that it would be jnecdssary to go slowly with future plans in mind. If the war came to a speedy conclusion, men would be back in civil fife Various matters had to be considered. These were the best figures he could give at the moment. The Mayor said that there was every probability that the preliminary estimate will be available tor the next meeting.