THE CITY’S FINANCES

Manawatu Standard, Volume LVIII, Issue 121, 22 April 1938, Page 9

THE CITY’S FINANCES

DEBIT BALANCE REDUCED

SUBSTANTIAL RISE IN COSTS

A satisfactory position in regard to the city’s finances in that, despite rising costs, the debit balance in the general account had been reduced during the period under review from £3689 13s 5d to £2343 12s was disclosed by the town clerk (Mr j. It. llardie) in his report for the financial year ending March 31, 1938, which he submitted to the meeting of the Palmerston North City Council, last evening. The revenue in the general account, Mr Hardie stated, amounted to £66,048 10s 2d, as against £62,675 16s 3d for the 1936-37 financial period, while the expenditure increased to £64,702 8s 9d compared with £60,532 5s Id in the previous financial year. . . The town clerk expressed the opinion that the position must be regarded as satisfactory, as the expenditure included £2600 in connection with the employment division subsidised scheme, purchase of Terrace End bowling green £702 Is lOd, stormwater drainage (including College Street drain) £2630, and an advance of £3OO to the Palmerston North Golf Club as a loan towards the cost of improvement of the new links. In addition, the amount transferred from the general account to the reserves account this year was £2278.