MATAMATA TOWN FINANCE.

Matamata Record, Volume XI, Issue 962, 11 October 1928, Page 5

MATAMATA TOWN FINANCE.

TREASURER’S REVIEW. Revenue and Expenditure. The Position Satisfactory. The treasurer to the Matamata Town Board, Mr. C. G. Lucas, reported as follows on Monday night:— “ The general account discloses no unexpected or unusual features. By reason of there being a much lower percentage of accounts outstanding at March 31 last this half-year’s rate receipt is not unexpectedly be- - low the rate receipt for the corresponding period of last year. However, with the imposition of the ten per cent, penalty rate on January 17 next I anticipate that the major portion of the 4900 at this date outstanding will be in hand. Independent of transfers from trading accounts the debit disclosed in the general, account of £250 Gs.lOd is a vast improvement on the position of a year ago, when the debit was £2084 5s Bd. Expenditure' has or. the whole " kept well within the estimates. Dur- | ing the ensuing period, however, i maintenance and running expenditure j of 4 plant would appear to require j careful supervision. It will he noted “that payments to the Hamilton jheavy traffic pool will reduce the li-

cense receipt by at least £7O. That “the district fund should have been in •credit during the whole of the period lias enabled all operations and inter-' est charges to be met without recourse to overdraft. Taking last year as a comparison. this has meant a saving of £35, while on the 1926 figure, but taking also rate rebate in~to account, a saving of £l7O. In all >3s. reduction in administration and general expenditure—other than Public Works—of £9O has been made and this credit will provide the extra finance required to enable the complete, sealing of the 12 foot additional Toad width in Tower road. It will be remembered that this work was not provided for in the estimates. In addition, to this £9O credit, it would appear that three small allocations in the estimates of £2O, £25 and £4O will not require to be expended this year, and I would recommend that the £BS there available be diverted to -other channels. With the completion of contracts current at this date the -- balance to the credit of the road maintenance materials account will he exhausted. The total receipts fßr the period were £4134 16s 8d and the payments £7414 4s. “The separate accounts call for little comment. Except for the metalling of Tower road little has been 'done on the main highways. The water account revenue is £ll3 below the' figure for the corresponding period of last year. The small proportion of accounts in arrear at the end -of last period provides the primary reason for this decreased revenue. Water maintenance has proved a little heavier than was anticipated. The Town Hall gross takings have dropped this quarter, but on the six months’ working the account shows a small profit in excess of • the estimate. I propose, however, to deal more fully with this account when, # later this month, I bring down the usual detailed quarterly and in this - instance half-yearly Town Hall report. “ Loan expenditure is not covered in the statement of accounts submitted, but I would like to take this opportunity of reporting, firstly, that all water loan money raised has been expended, and secondly, that when all streets .improvement refunds are in \ ' hand that the streets loan will be in -credit to the extent of approxik v mately £l4O. The Waharoa road ; >/kerbing refund is yet to be claimed.” f '' —Adopted.