BOROUGH EXPENDITURE.

King Country Chronicle, Volume XIX, Issue 2051, 4 December 1924, Page 5

BOROUGH EXPENDITURE.

♦• OVERDRAFT CAN BE WIPED OUT BY END OF YEAR. A prediction that if expenditure was curtailed the Borough would comlete the financial year without an overdraft, was contained in a report of the Town Clerk to the council on Monday night, when a detailed schedule of the council's expenditure for the eight months to date was submitted. The Clerk stated: - "In reviewing the figures, I consider there will be less money spent in most of the general administration items at the end of the financial year than you have allocated. There will also be a saving in the. following accounts: Sanitation and Library. AH the other accounts will just about use the amount allotted with the exception of streets and maintenance, Two prevention, and reserves. With regard to streets maintenance, you will notice that an amount of £43 6s 6d has already been spent in excess of the amount allocated for the whole year. An amount of .£125 was allowed for fire prevention (exclusive of £SO for subsidy) for the year, and £l2l has been spent in eight months. This allocation looks like being considerably overspent at the end of the year. Fifty pounds was allowed for reserves for the year and £73 J7s 9d has been spent to date. The expenditure on this item will be also considerably more than the amount allocated at the end of the year. I am satisfied that if means can be found to considerably curtail the expenditure on the items overspent and the rates come in in the same proportion as last year, the council will finish its last year of office without an overdraft ." The Mayor: If we can finish without an overdraft it will be the first time it has been done in the history of the Borough. We must endeavour to curtail expenditure in the accounts overspent as much as we possibly can.