VERY SOUND

Hauraki Plains Gazette, Volume 52, Issue 3253, 16 April 1943, Page 4

VERY SOUND

POSITION OF PAEROA PUBLIC DEBT REDUCED EXCELLENT RATE COLLECTION That throughout the year just ended revenue' had been very buoyant and the financial position of the borough was very sound was reported by the Finance Committee to Thursday night’s meeting of the Paeroa Borough Council in reviewing thp balance-sheet for the year ended March 31, 1943. '

“It is pleasing to report that the financial position of the borough is v<?ry sound; on the whole revenue has been buoyant and expenditure kept within the estimates. However, the reduction in stocks of materials on hand makes the position appear better than it actually is,” stated the report tabled by the Finance Committee which continued as under: — 97.05 Per Cent of Rates

“Scheme 13 subsidies received during the period under review were only £204 as against £5OB in the previous year and is the lowest since unemployment subsidy commenced. Only two men were emplayed for the first half of the year and one man in the second half. “The net Public Debt has been reduced 'by £l7OO to £42,485, Debentures Nos. 23 to 32 having been redeemed during the year. “Of the current rates struck 97.05 per cent, has been collected as against 98.42 per cent, last year which was the highest record. This year’s collection is ’ the second highest on record. Arrears Reduced

“Arrears of rates amounting to £lB3 were collected, being 68.37 per cent, of the amount outstanding at March 31, 1942. The total amount of rates, including the past year’s outstanding at March 31, 1943, was £l2l 4s 2d as against £240 14s at the end of the previous year.

“A total of 96.7 per cent, of the current water charges were collected as against 97.24 per cent, last year, which was also the highest on record. Arrears amounting to £6l 18s 4d were received, hewing 77.5 per cent, of the amount outstanding at the beginning of the year. The total amount of water charges outstanding at March 31, 1943, was £6B 13s 3d, which includes £54 15s 9d for the Railways for the months of February and March> 1943. Response of Ratepayers “These results could not have been achieved without the support of the ratepayers and your committee wishes to place on record its appreciation of their splendid response to the request for early payment.” A / brief summary' of the receipts and payments in the General Account for the year'just ended showed that receipts were less than those of the previous year by approximately £430 while payments showed an increase of approximately £6'Bo.

The report added: — “Dealing first with receipts, owing to the striking of a lower general rate, rates collected this year were approximately £232 less than last year. Sales and reimbursements also show a decrease of £l5l due mainly to reductions in amounts received from crossings, footpaths, sale of metal and sundries. Transfers from these accounts reveal an increase. of approximately. £27 due to a greater transfer' from the Abattoir Account.

“Payment under Public Works increased ’by £751 compared with the previous year, due mainly to a greater expenditure on footpaths, drainage and streets. .Stocks of materials on hand are' much less than last year. A bitumen pump was the only item of plant purchased during the year, and payments under this heading show an increase of £64 on last year’s figure when a motor-mower was purchased. Transfers to other accounts decreased by £126 due to the expenditure on the Centennial Memorial in the previous year, and no expenditure last year. Under this heading it should be noted that the net expenditure on the Domain shows an increase of £3B, Emergency Precautions Service £23 and Library £B. These increases are offset by an improvement in the Abattoir Account. Separate Accounts “Street Lighting.—The credit balance in this account decreased by £45 due to a reduction in the rate which was partly offset by a reduction in lighting charges as a result of lighting restrictions. “Water Account.—The credit balance in this account increased by £l9O owing to the charges collected being greater than the expenditure. “Hospital Board Account. —The credit balance in this account has been reduced by £43 to £ll. The indications are that an increase will

■be required in this rate for this year. “Ngahina Wharf.—The credit in this account increased by £l3l owing to the estimated transfer to the General Account of £250 not being made. This will be provided for in the coming year’s estimates. “Conversion Loan Interest. —This account’s credit balance was reduced by £l3O. It was possible owing to the substantial balance in the account to strike a rate ithich would produce less than the aipqfaal charges and it was estimated -balance would be reduced by £249. The improvement is the position was due to more rates being collected than was antipated.” The Mayor, Mr Edwin Edwards, stated that the borough was in a very good position and would be. able to do ihajor work after the war when costs became more normal. He congratulated the acting-town clerk and the other members of the staff on’carrying on the affairs of the council so efficiently. He also congratulated the acting-town clerk on producing the balance sheet so expeditiously, explaining to the council that Mr Jenkinson had two balance sheets to prepare and it waa considered no light task to.get one such balance sheet out.