LOCAL BODY FINANCE

Nelson Evening Mail, Volume LXVI, 21 April 1934, Page 7

LOCAL BODY FINANCE

MARLBOROUGH’S FINE POSITION

IMPROVED WOOL PRICES RESPONSIBLE

(By Telegraph—Press Association)

BLENHEIM, 20th April. The improved wool prices were probably responsible for the remarkable record put up by the local bodies of Marlborough during the financial year ended 31st March, for in spite of the record drought, rates came in freely, and with one exception all local authorities report heavy credit balances. The Awatere County Council completed the year with a record cash balance of £70,000, collecting 95 per cent, of the current year’s rates, and 50 per cent, of the £4OOO which was outstanding.

The Wairau River Board finished the vear with £3OOO cash in hand, the Marlborough County Council with £2500, the Marlborough Hospital Board with £1266, and Pieton Borough with £3OO, while the Marlborough Power Board, after full payment of interest, sinking fund, depreciation, etc., emerged with a cash credit balance of £I9OO. The Blenheim Municipal Gasworks show a credit of £I2OO, and the Pieton Elnc--1 ricity Department £748. The Blenheim Borough Council collected 80 per cent, of current rates, and 32 nor cent, of its arrears, but concluded the year with a debit balance at the bank of £972, ns against which it has a gasworks credit of £I2OO. The debit in the general account is more than accounted for by the fact that £I7BO was paid out of current revenue to subsidise the unemployed working on the Blenheim sewerage scheme.