BOROUGH FINANCES.

Manawatu Standard, Volume XLI, Issue 9183, 6 April 1910, Page 5

BOROUGH FINANCES.

TOWN CLERK'S INTERESTING REPORT. PROFIT FROM THE OPERA HOUSE. RATES TOTAL £18,680. The Town Clerk reported as follows to the Borough Council last night:— At .the end of the financial year the bank overdraft amounted to £6187 8e Id, as against £4080 17s 8d the previous year—a difference of £2106 10s sd, which represents the amount spent in excess of the income. The. general account stands at the end of the financial year at £12,561 Is Id, as against £10,873 Is 9d last year— a difference of £1687 19s 4d. It will thus be seen that year by year the Council is steadily piling up its overdraft, and also increasing the debit of. the general account to such an extent that if it were not for the balances the Council would have a very slight margin to work on until the year's income was available. The real position is that if there were no balances in hand, the overdraft at the bank would be £12,561. The Opera Plouse shows a net profit, ' after paying interest, sinkiiig fund, repairs and maintenance, of £55 18s. The sinking fund of £95 may also be considered a profit, and thus the actual profit would be increased to £150 18s. During the four and a-half months the Pictures have been runnirjer on terms, the. Council has received an income from this source of about £157—equal to about £35 per month. Without this income the net profit as shown would have been converted into a small loss.

The total rates for the year amount to £18,680 in round figures, and there is £144 outstanding. This sum is distributed amongst 15 ratepayers. Of this amount £50 is secured b.y judgment against two ratepayers, £50 is owing by persons to whom the Council has extended time, and on estates of deceased persons not yet wound up, and against which it would be unfair to take legal steps at gresent. The remaining £44 is owing by five ratepayers, and it will bo necessary to take legal action against them as soon as possible. Every endeavour has been made by the staff to collect these rates short of actual suing, and when the Council has studied the analysis of-.the outstanding amounts it will be eeen that the actual sum immediately recoverable is small.

The sanitary charge produced £909, against which the expenditure was £1353, and this absorbs the balance of the previous year. It will therefore be impossible to reduce the sanitary charge below the 7s 6d charged last year.

The Reserves commenced the year with a credit of £163, which was reduced at its close to £49.

The Waterworks, after providing interest and sinking fund on . loans, shows an increased credit of about £130.

The Library has spent about £29' more than its income, but the credit balance still remains at the substantial amount of £355, which is ample to provide for the purchase of newbooks.

The credit to the Cemetery accountis £368, but it will be necessary during the coming year to erect a caretaker's cottage, which will absorb the greater part of the balance. During the year the staff has worked well, and performed the ever-in-creasing duties to my entire satisfaction. I trust the result of the year's working will also prove satisfactory to the Council.

The Mayor pointed out in connection with the increased overdraft that tho liability for the George bridge had been met. The report was then adopted.