PIAKO COUNTY FINANCE.

Hauraki Plains Gazette, Volume XXXVII, Issue 4991, 23 June 1926, Page 2

PIAKO COUNTY FINANCE.

NEARLY £19,000 OVEBEXPEJfDED.

SUSPENSION OF ALL WORKS. Something in the nature of a startling revelation in connection with the finances of the county was made at the Piako County Council meeting on Monday, when it was found necessary to suspend all works. In outlining tiie position the chairman (Cr. W. R. Lowry) said : — “The. state of our finances on March 31 last is such as to cause us very serious concern, and must be seriously reckoned with.

“The sum of £18.976 3s has been drawn fiom general account a,nd overexpended on loan works without legal authority. This amount has to be immediately found. This can only be done by taking into account the amount of grants and subsidies owing, also to secure all the loan money available. When all these, moneys are secured, together with all outstanding rates, etc., it is to be. hoped our bank overdraft will the.n be reduced to within its legal limit. “The finance committee have considered the whole matter, and they recommend the council to cut out all expenditure that can be avoided, works to cease, and the closing down of the Tahuna, Hinton’s, and Waiorongomai quarries for the winter months. This will avoid heavy our'•esnt expenditure and give some immediate relief.

“The committee also recommend that the chairman and clerk be empowered to deal with the whole financial position and take the necessary steps to put the whole matter on a proper footing.” The chairman added that the rates outstanding amounted to £12,196 15s 3d.

“These figures show,” added the chairman, “that we are going back at an alarming rate in the collection of our rates. All rates should now be sued for forthwith.”