DRAFT ESTIMATES

King Country Chronicle, Volume XXIX, Issue 4694, 16 May 1935, Page 5

DRAFT ESTIMATES

SURPLUS OF, £4lo* ALLOCATIONS FOR THIS YEAR. 1 Draft estimates for the financial year 1935-36 were considered by and explained to the Borough Council last evening. The credit balance of £344 12s 5d had been carried forward and the estimated receipts exceded the expenditure by £4lO 12s sd. This amount may be allocated for special works or held as a reserve in the meantime. £1495 was allocated to streets expenditure, as against £1432 last year, while the largest of the amounts under the proposed expenditure column was £3675 for loan charges. Provision of £l6O was made for the Carrolt-Tawhana Street drain, and £l7O, the same as last year, for fire prevention; £25, also the same as last year’s figure, was set aside as the band subsidy. For the waterworks £SOO was allocated, £426 having been spent last year. The estimated receipts were very much on a par with the actual receipts of last year. It was estimated that current rates would produce £6600, as against a collection of £6550 last year; and arrears £9OO, as against a collection of £IOBB last year.

The estimated receipts totalled £10,628, and with the credit carried forward added, amounted to £10,972 12s sd. The proposed expenditure was £10,562, leaving a surplus of estimated receipts over estimated expenditure of £4lO 12s sd. These figures are already somewhat altered by the deliberations of last evening. £SO hss added to the estimated expenditure for subsidising R.S.A. and Patriotic Association works, while~ it was decided to pay for the Carroll-Tawhana Street sewer in annual payments of £SO, whereas £l6O was provided on the draft estimates. The estimates, subject to any further alterations deemed advisable by the Borough Council will be adopted at the June meeting'

Future Surplus Not Assured.

The clerk noted that in his report that the first year’s sinking fund op the conversion loan was £215, whereas the succeeding payments will bp £730, so that a surplus may not be available in succeeding years. The principal items in the streets allocation of £1495 were wages of five men, casual labour, and Borough Engineer (less deductions of the sums allocated to water, sanitation and reserves expenditure), £1190; truck and cart £llO, sundry material £45, 600yds. shingle £IOO, 300yds. metal and chips £IOO.