THE CITY ESTIMATES.

Lyttelton Times, Volume CXVII, Issue 17530, 13 July 1917, Page 4

THE CITY ESTIMATES.

There is nothing very striking about! the City Council's estimates of revenue and expenditure for the current financial .year. Rates are to be struck on tho same scale as last year's, and these with other receipts will yield a tevenue short of expenditure by £5397, which amount will be added to the overdraft. On paper the overdraft lopks rather formidable, perhaps. It will amount next March to over £43,000, which is equal to half of the year's revenue, but the charges for this accommodation are substantially reduced under the council's scheme of accepting money on deposit at 3 per cent. There is usually quite a lot of cash floating about that is available to the city, if required, and so the actual overdraft upon which tho bank charges have to be paid is, in effect, kept low. One item in the list of expenditure, moreover, accounts for tQie greater part of the estimated deficit for the twelve months, namely, war pay, £2981. To some extent this item is open to object Son, inasmuch as tho latepayers of Christchurch are practically subsidising the Stato, but it is i.ot muoh use quibbling about that just now. Tho fact that tho expenditure is in excess of revenue, however, does lequire careful consideration, and tho City Council was wis© dast evening in setting up a committee to overhaul the organisation and administration in ordor -to see how and where economies may be effected, consistent with efficiency. Of course, tho war affects the financos of all local bodies in a variety of ways ; particularly in raising the prices of labour and materials, and while there appear on the expenditure side of the balance-sheet some items that might bo cut down, we aro oisposed to think that it may be as well to maintain most of tho usual votes. On the whole, in such critical times as these, the ratepayers may feel thankful that tho finaucial position of the council is not more disturbed.