BOROUGH FINANCES.

Marlborough Express, Volume XLI, Issue 134, 8 June 1907, Page 2

BOROUGH FINANCES.

THE PRESENT POSITION.

ESTIMATES FOR THE YEAR

At the meeting of the Borough. Council last night Cr Macey, Chairman 'of the Finance Committee, read a statement of assets and liabilities as -on 31st March, which showed that the -assets amounted to £232 7s 4d, made up of arrears of rates £50, arrears of .subsidy £46 17s 6d, refund licensing expenditure £120, and refund Cooperative Drain cost £15 10s. The liabilities amounted to £3177 18s 2d, including £2100 overdraft, salaries £69,-Mayor's salary £60, advertising, etc, £2 13s, licensing £2 18s 4d, day labour £27 18s 6d, contracts £23 15s 2d, goods, etc., £17 17s, cartage and gravel £7 18s 6d, water main, etc., £19 12s 7d. lighting £27 10s, sinking fund (gas loan) £330, Oniaka Bridge Commission expenses (estimated) £20, law costs (estimated) £100 ? deficit on Town Hall loan £350, miscellaneous £15 Is 6d. The estimated receipts and expenditure from Ist April, 1907, to March 31st, 1908, were.as rollows:—Receipts: Rate arrears £50, licenses £800, subsidy £187 10s, licensing refund £20, fines, etc. £10, Co-operative Drain £62, dog registration £80, rates £2144, total £3353 10s. Expenditure: Salaries, £500, advertising, etc., £75, Fire Brigade subsidy £100; roads, asphalting, bridges, etc., £1000; gas loan . -sinking fund, £400; public lighting, £340; Co-operative Drain, £124 ; contingencies, £350; overdraft reduction, £464 10s ; total, £3353 10s. A 3d general rate would produce £.2144. Cr Macey said that there would be thus only £80 per month for expenditure on roads and footpaths. When it was considered that with the present staff and horses £40 per month was out of that allowance', it would f>6 seen that there was not a great margin for extraordinary works. Jt the recommendations were adopted thd Council would have to be careful and IJ vigilant, month by month, and see I that the estimate was not exceeded. I

He moved that 3d in the £ be the general rate. Cr Ching seconded. He agreed in the return to a go-slow policy. They had done it before, and he did not doubt they could do it again—without letting the state of the streets and footpaths go back. It/would be of no use this one and that coming for a £10 note as donations. Cr White asked what provision had been made for contributions to new bridges over the Omaka and Wairau? His Worship: We shall have to raise loans for that. The motion was carried. The special rates were made the same as last year. The Bank overdraft limit was fixed at £3353 10s. Cr Macey said the accounts this month would amount to £971, and, as the legal limit was only £489, things did not look too bright. An arrangement at the Bank would have to be made till next month. Cr Macey stated that he had written to the Hon. Mr Mills asking him to use his best endeavour to secure a remission of the duty on the new bridge. —Cr Macey's action was confirmed.