CITY RATE PAYMENTS

New Zealand Herald, Volume LXXI, Issue 21763, 31 March 1934, Page 15

CITY RATE PAYMENTS

/ OBJECTIVE OBTAINED !; REMARKABLE BUDGETING FIGURES ALMOST COINCIDE Exceptionally close budgeting is revealed in the results of the Auckland City Council's rate collections. The treasury estimated that by March 31 a total of £494,004 would be received, and by Thursday, which for practical purposes ended the financial year, the total was £494,440, which exceeded the objective by £436. It is possible the receipts will be slightly increased by cheques posted late on Thursday. These will not bo received until tho treasury reopcus on Tuesday. / I "It is a remarkable result to be only a few pounds out in dealing with half-a-million pounds," said the Mayor, Mr. G. W. Hutchison. "We budgeted to collect- S6 per cent of the current rates, and that estimate has been slightly exceeded, whereas the arrears collected coincide with the estimate within £23. I Late payments may also result in that j ' estimate being exceeded. "We have had one or two setbacks during the year," added Mr. Hutchison. "For instance, we received about £3BOO less than anticipated for heavy traffic fees owing to the new system of apportionment among tho local bodies in the No. 1A highway district. Again, certain works contemplated under loan proposals were not approved by the Local Government Loans Board, but we had to go ahead with them.. One such work was the remodelling of the Victoria Arcade. That will result in increasing our debit a little, but it is very helpful to reach the budget estimates in the collection of rates." The amounts of rates collected until 4- p.m. on' Thursday, compared with the nmounts estimated, were as follows': — Received Estimate £ £ Current rates . . ... 426.65S 426.229 Arrears and rcnalties 67,752 67,775 ! ' £494,440 £494,001