LOCAL BODY TRADING.

Matamata Record, Volume VIII, Issue 597, 15 January 1925, Page 4

LOCAL BODY TRADING.

HALL AND GENERAL FUND. Auditor-General’s Ruling. The financial policy of the Mafcamata Town Board, which places hall profits to the credit of the general account and spends them on roads, etc., has been declared to be quite in order, and this declaration is of general interest.

The Auditor-General (Mr. G. F. C. Campbell) replying to a'letter from the clerk (Mr. B. Blennerhassett) in regard to the hall funds, stated that it was at the option of the board to keep or not to keep a separate ledger account of the town hall revenue and expenditure, but the receipts in respect thereof were part of the common fund, to be so treated. It was open to the board to expend moneys of the general account in maintenance or improvement of the hall, ir-, respective of whether the returns therefrom showed a credit or a debit.

Mr. J. Mclntyre asked what policy the board was going to adopt. Mr. J. Pohlen said he thought the hall profits should be set aside for a new hall. The present building was erected when the town was in its infancy, and the time was fast coming when a new building would be required. Mr. B. C. Taylor said the present ratepayers were providing the profit on the hall, and they might not be agreeable to this money being put on one side, instead of being spent on paths and roads. Mr. Mclntyre said that if the board had no hall it would have . had to finance apart from such profits. The chairman (Mr. W. A. Gordon) held that the end of the year, when the estimates were being framed, was the time to formulate the policy. Mr. Pohlen agreed, • No further action was taken.