BOROUGH FINANCE

Manawatu Standard, Volume XLIV, Issue 968, 18 March 1924, Page 4

BOROUGH FINANCE

The Borough Council and the ratepayers it represents are confronted at the present time with the disquieting fact that the estimates for the gas and electrical undertakings are inadequate to complete the cost of these ventures and place them on a revenue-producing basis. As revealed by the Mayor at last night’s meeting of the council, there is a deficiency on the electrical undertaking of £20,000, and extras, including equipment and stock necessary, are expected to absorb a further £II,OOO. To meet this additional expense the council resolved to ask the ratepayers to sanction a further loan of £35,000. The gas undertaking will absorb a further £BOOO in round figures before the borough’s obligations in that quarter are finally discharged. While the position in regard to both undertakings is far from satisfactory, no good purpose will be served by recrimination, and heated criticism of the past council, on which the blame is being placed for the present state of affairs, will achieve nothing. It will certainly fail to remedy the existing difficulties, and there is always the danger that when acrimonious discussion is permitted to supersede rational reasoning and calm judgment the ratepayers are blinded to the real issues which is as undesirable as it iS unfair. Ridiculous statements have been made to the effect that £25,000 is still neded to complete the gas undertaking. The figures quoted are exaggerated and are misleading. The actual estimated sum still necessary to complete the gas works is £BOI6 12s 3d, as anybody who reads the gas manager’s report will observe. That the estimates on both undertakings have fallen far short of requirements is regrettable, but the facts have to be faced, and the only course opon to the ratepayers is to sanction the raising of the money still required. There is no alternative. The work obviously cannot be left in an unfinished state, and no doubt the ratepayers will authorise the new loan in order that the undertakings may be placed on a revenue-producing basis at as early a date as possible.