BUOYANT REVENUE.

Manawatu Standard, Volume LVII, Issue 127, 30 April 1937, Page 5

BUOYANT REVENUE.

AUCKLAND CITY COUNCIL Per Press Association. AUCKLAND, April 29. A substantial reduction in the debit balance for which the council budgeted at the beginning of the financial year just closed was announced by the Mayor (Air Ernest Davis) when giving a review of the annual accounts at a meeting of tlie City Council. Air Davis said the city’s finances at f he close of the financial year on March 31 showed a marked improvement on the beginning of the year and were decidedly better than was anticipated, notwithstanding the unavoidable increases in expenditure. The revenue throughout had retained the buoyancy with which the year had opened, and the outcome had been a substantial reduction in the debit balance for which the council had budgeted. AYlier eas in the previous year the rates collected fell short of the estimate by approximately £20.000, they exceeded the estimate for the year tindei review [ by £16,121. On tlie expenditure j side the main excess over the estimate | was attributable to the restoration of j wages and salaries to the 1931 level, j and the introduction of the 40-liou'' week. I