BOROUGH FINANCES

King Country Chronicle, Volume XXXI, Issue 4953, 9 February 1937, Page 4

BOROUGH FINANCES

SATISFACTORY CONDITION. DESPITE HEAVY EXPENDITURE. “Very satisfactory” was the general comment on the Borough finances when the statement of accounts for the period ended January 31 was presented by the Town Clerk to the Council meeting last evening. A credit balance of £1450 was shown; last year at the corresponding period the credit balance was £I2OB. The improvement this year was attributed to the increase in rate collections. The amount of £6134 15s 5d rate collection is £485 less than the amount allowed on the estimates for the year and £331 12s 5d in excess of the amount collected at this period last year. As there is £3OO to come in from the Crown Lands Department in respect of Crown rates, there should be no difficulty in collecting the full amount provided for on the estimates. The amount of £lll3 14s arrears of rates collected is £163 14s in excess of the amount allowed on the estimates, and this amount should be increased by the 31st March. The amount is £SO less than that collected at this period last year. Other receipts compare very favourably with the amounts allowed on the estimates. Expenditure, other than ordinary maintenance, etc., to be met before the end of the financial year is as follows:—Subsidy for Band uniforms, £54; willow poisoning, approximately £SO. The amount of £SO allowed on the estimates for subsidy of returned soldiers’ wages has not been spent and will probably not be required. Included in the credit balance of £1450 10s 3d is £350 held by way of deposit re Te Kumi quarry. The Mayor commented that the finances were very satisfactory, and said that despite heavy expenditure the Council would probably balance its budget.