ONLY £5275

Hauraki Plains Gazette, Volume 52, Issue 3255, 21 April 1943, Page 5

ONLY £5275

OHINEMURI PUBLIC DEBT £748 PAID OFF LAST YEAR COUNCIL’S SOUND POSITION That actually the nett Public Debt of the Ohinemuri County Council is only £5275 5s 4d was disclosed in the revenue of the balance sheet which was before the April meeting of the council. The report read as under: — “The total public debt as shown in the balance sheet is £10,527 10s Bd, but from this can be deducted sinking funds accrued at March 31, 1943, totalling £872 14s *Bd, also the difference between the £2087 10s showing under the Mangaiti bridge loan and the total of interest yet to be paid on the loan amounting to £390 14s 10d which when paid will extinguish the loan, making a deductable balance of £1695 15s 2d. This makes a total of sinking funds and credits of £2569 9s lOd, giving a net public debt at March 31, 1943, of £7958 0s 10d, a decrease for the year of £748 6s 7d. “Tht rural housing advances of course are covered by security and the amounts are actually owing by settlers; 'the item therefore is only nominally portion of the public debt and if it were deducted tht public debt would stand at £5275 5s 4d.”