AUCKLAND CITY FINANCE.

New Zealand Herald, Volume LXVII, Issue 20570, 22 May 1930, Page 15

AUCKLAND CITY FINANCE.

BUDGET OF A MILLION.

RATES NOW FOUR SHILLINGS.

"CUTS" IN THE ESTIMATES.

SMALL SURPLUS LAST YEAR.

An increase in-tho total rates to 4s in f],c pound was approved by the Auckland City Council yesterday, after revising the estimates, which, as submitted, required H total of 4s 2d. The principal reductions were made in the general account, (he total tor which was reduced by £16,177, enabling the rate to he fixed at 'Js 6i,d as against Is Oil as originally propose.!. and Is 7d last year. The rebate of lid is equivalent to about £16.030. The estimates were presented in the form introduced last year, showing the estimates and the actual results for 1929-30 jn comparison with the estimates for 1930 31. Thev appear, however, in seven separate accounts; to provide a comprehensive idea of the municipal budget, various compilations have been made from the

official figures. In 19lJ8 29, expenditure exceeded revenue by £'37,142. Last year the estimates forecast an aggregate surplus of £i6,800, but the actual result was that revenue exceeded expenditure by only £llß7. For the current year a surplus of £9990 is forecast. Summary ol Account!;-. Following is a summary of the seven accounts for last year and this year. In the totals, allowance lias been made for the fact that interest on waterworks loans appears in both water and interest accounts. Moreover, tho waterworks account shows, capital expenditure last year of £25,976 in anticipation of the £30,000 loan and tho current year's revenue estimate includes a corresponding sum to bo refunded from the loan; tins item has Leeu. excluded from all comparisons. REVENUE. Estimate, Acti.nl, Estimate, iy.»!i-;!0. 192:; 3d. IU3O-31. Gcner.il .. £337,315 £330,099 £331,085 Water ..■ '115,200 110, ir,9 171.500 Librr.ry , 0.675 0,883 15,2-0 Hospital . 52.570 50.375 02./50 jjraiuago' .- 28,705 27,805 28,720 Sanitation 27,010 25,151 22,330 Interest .. SlO.ctW 505,091 507,225 Totals .. £1,039,011 X' 1,017,090 f1.070.95C EXPENDITURE. Estimate, Actual, Estimate, 1929-30. 1929-30. 1930-31. General .. £321,202 £311.035 £335,783 Water .. 115,932 150,01-1 101.079 Library .. 13.100 13,109 15.023 Hospital . 52,221 52,373 58,130 I)raina;;o . . 27,091 27,305 27,350 Sanitation 27,150 25.507 24,250 Interest . . 508.013 508,583 507.230 Totals .. £ 1,022,810 £1,010,509 £1,060,995 Large Aggregate Deficit. Tho aggregate of tho balances in tho seven accounts at March 31. 1928, was a credit of £528. A year later there was a deficit of £36,824. According to last year's estimates this was to be reduced to £19,312, but the accounts show that at March 31 last the. actual deficit was £35,636, excluding tho waterworks expenclxttiio in anticipation of borrowing. The revised estimates indicate that at the end of this year tho deficit will bo £25,657. Details arc as follows: 1529. 1930. 1931. General .. £14.719* £4.310 £202 Water . . 19,099" 29,814" 20,023" Lib-cry .. .1.680 1.599* 1,402* Hospital .. ' 2,093* 1 .('Ol * 530 San'tat ion a 297 _MI 1.074* Jirainacj .. 1.975" 1,475* 115* Interest .. 290" 3,182* 3.185* Totals .. £ 30,821" .£35.030* £25.057* 'Debit balances. • Changes in the Rates. The rates to be levied this year, with last year's in parentheses, aro as follows: —General, Is 3d (yd); hospital and charitable aid, sid (4£d); drainage, 2jd sanitation, 2d (2jd); special,' Is 6jd (Is Following arc details of the rale revenue as estimated and as received last year and us estimated for this year:— Estimate Actual Estimate 1929-30. 1529-30. 1930-31. General .. £202,905 £195.351 £197,705 Library .. 5.340 5,103 10,090 Hospital . , 48,070 40,505 58.^>0 Drainaijo .. 20.705 25.830 20, <2O Sanitation .. 21,600 £2,190 19.130 Interest .. 197,025 191.225 197,710 £504.305 £180,770 £510,711 Arrears .. -12,750 41.385 42.200 Totals . . 547,115 £528.155 £552,911 Separate rates and charges are made for water, tho comparable figures in this i.ccount being as follows: ✓ Estimnto Actual Estimate 1929-30. 1929-30. 1930-31. Domestic . . £75,200 i:70,205 £70,000 By meter . . 08,000 59,852 CO 000 Sundries . . 2,000 2,530 2,500 Totals .. £115.200 £138,593 £138,500 Tho estimates of this recount include in tho revenue £33,000, sinking fund surplus; on tho other hand, tho account is charged with £21,150 for tho repayment of debentures matured on January 1, 3.930. Maintenance charges arc estimated at £42,530, ns against £48.844 spent last year; and capital expenditure at £B7OO (£13.104) Interest is estimated at £68,450 (£72.077), and sinking fund charges at £10,949 (£11.407). Interest paid last year on tho debit balance in tho account was £2077; for this year, £2500 is allowed.