HIGHWAY FINANCE

Hokitika Guardian, 29 July 1929, Page 7

HIGHWAY FINANCE

KEEPING UP CONSTRUCTION PACE. WELLINGTON, July 25. At the Main Highways Board monthly meeting, Air F. W. Furkart presiding, one of the most important questions calling for the board’s attention was the restoration of earthquake damage in the IMurchison and West Coast districts. The board has decided that it will ultimately reopen the road through the Buller Gorge between Alurchison and Lyell. As is well known this portion of the highway is at present entirely blocked to traffic, and from information available it appears that it will be at least twelve to eightteen months before traffic can use the road. The board lias already arranged for the construction of pack tracks, so that survey parties can commence operations. In the meantime traffic from Nelson to the West Coast will travel via the Murclnson-Maruia-Reefton road, on which the bon'd has men working at the present time to put it into condition which will/ permit traffic to get through regularly.

An analysis of the board’s accounts for the quarter ended June 30 shows the total revenue Ifor the period was £550,392. This sum comprises receipts from tyre tax £30,814, petrol tax £215,235, motor vehicle fees, etc., £273,912 and other sources £30,431. The expenditure from the revenue fund was £174,729 as compared with an expenditure of £105,847 for the same period last year. The amount received from motor vehicle regulation fees represents the greater portion of receipts which will be available from this source during the year. The balnim" of cash in the revenue fund at the end of the period was £897,767, of which a sum of £400,000 has since been transerred to construction fund. The transfer of this sum has become necessary mainly in order to maintain the rate of progress on special paving works 'or which provision was made in the policy announced on the introduction of motor spirit taxation. Expenditure on construction works during the period was £316,590, compared with an expenditure of £83,124 for the same per:od last year. Authorisations to June 30 in the revenue fund totalled £533,813, of which as shown above £174,“29, or equivalent to only about 35 per rent, of authorisations in the contsruction fund amounted to £686,589, while the expenditure was £316,590, or about ‘4 per cent of the authorisations. In issuing statements of expenditure in the past the board has drawn attention to the lag between- revenue ’nd expenditure, and that the true posi'•’on can only, be found by an analysis >f the complete year’s operations. Attention • must again be drawn to this fact, as it is estimated that expenditure from revenue and fund during the financial year 1929-30 will be over £1,000,000, whereas the quarter’s operations show an expenditure of only £174,729. During the financial year ended March 31, 1929, the total expenditure by the board was approximately £1.909.000, and of this amount over £700,000, or nearly 40 per cent, wi»•>aid out during March. No doubt the same disproportionate rate of expenditure will take place aggin this financial year.