Is oar yesttfday's impression the t „ accounts oflthe Harbour Board v advertised, ftom which could be the conditio!) of the finances. m ever objections may be taken to t\' policy of theUßoard in some respect/ 6 cannot be sail that any disposition !! shown to conceal how the finl 3 stand.. The m embers of the 63 Board and thV public have now "t? whole subject before them in <w e detail The Auditor-General, in certT fying to the accounts, took exceS I that the items ' of expenditure in li loan account of 1866 are not in l\ form required by the Act, which? quires the special account to k < credited with all moneys raised bvlm and not with moneys intended't* v raised by loan. The treasurer i n £ report, replies to this by stating tin the accounts are in precisely VZ form as approved by the Audit IW ment last year. Further, lie says "It would not be possible tocredit the special accounts with the moneys raised bv loan, seeing that only one-half the l oa , was floated, and no apportionment made of the amount received The amounts expended are therefore duly debited to the appropriations under the Act. The accounts are by this method rendered quite intelligible to the bondholders and others interested by showing the amounts appropriated the amounts expended, and the unan' propriated balances upon each account." It is evident from articles that have appeared of late in the Loudon papers that the detailed accounts of the Harbour Boards of New Zealand are at present being keenly scrutinised A few days ago we quoted part of an article from the Financial Times showing that objection was taken 'in one case to the method of book-keeping as tending to mislead English bond-' holders. We have no fear that any. tiling of the sort will occur in regard to our harbour accounts. Auckland Harbour Board bonds stand well in the London market, a\d do not appear to have been much effected (if at all) by the unfortunate condition of the finances of some of our harbours.
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Bibliographic details
New Zealand Herald, Volume XXVIII, Issue 8488, 12 February 1891, Page 4
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347Untitled New Zealand Herald, Volume XXVIII, Issue 8488, 12 February 1891, Page 4
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