SOUND FINANCES

Hawke's Bay Tribune, Volume XVIII, Issue 201, 8 August 1928, Page 9

SOUND FINANCES

NAPIER BOROUGH'S POSITION.

STATEMENT BY TOWN CLERK. According to a statement compiled by the Napier town clerk. Mr. John Dick, the finances of the borough are in a particularly sound position. As a supplement to the annual statement of various accounts a resume of the finances has been prepared at the instruction of the Mayor, Mr. J. Vigor Brown. The statement shows that the actual cash credit has increased from £11,363 in 1926-26 to £48.450 in 1927-28, an increase ot £7,087. “During the year 1927-28 the debit of the general account increased by £1,627 and there are outstanding liabilities totalling £7,379. “As a set-off against the outstanding liabilities there are outstanding assets (rates, rents, electric light accounts, etc.) amounting to £14,625. “As a set-off against the debit of the general account, £3,958, the following accounts, although kept as separate accounts to facilitate bookkeeping, are part of the general account, i.e., fire insurance reserve fund, cr. £2,312 2/6, Meeanee Domain building reserve fund, cr. £990 10/-; total, £3,302 12/6. “Part of the increased debt on the general account was incurred by expenditure on works not included in the year’s estimates, such as:—Relief of unemployment, £264: relief of unemployment (returned soldiers') £339; Nelson Park, pavilion, £453; purchase of land for Lntnbton road extension, £225- contribution to No. 1 bridge, Taradale road, £158; expenses Harbour Commission. £7B; total, £1,517.”