ONE TREE HILL AFFAIRS

New Zealand Herald, Volume LXXV, Issue 23059, 9 June 1938, Page 11

ONE TREE HILL AFFAIRS

BOROUGH FINANCES SOUND ACTIVE WORKS PROGRAMME Councillors and ratepayers had good reason to be gratified at the sound state of the borough finances, said Mr. I. J. Goldstine, Mayor of One Tree Hill, in moving the adoption of the treasurer's annual report at a meeting of the council last night. The net

cash credit of the combined revenue accounts stood at £4445, added Mr. Goldstine.

This was largely due to the promptness with which rates had been paid, the proportion received being 90.1 per cent, while the collection of arrears amounted to 68.7 per cent. As a result no loans bad to be raised and no overdraft carried. The fact that 60 per cent of the rates were paid in time to receive a rebate showed that the council had beep justified in introducing the rebate system. Although the cash credit was £1846 less than that of last year, this was accounted for by extensive schemes undertaken. These included additional street works started at tie request of the Government, to find employment for additional men on a subsidy basis. The council was fortunate in having accumulated funds to devote to permancjit works which would otherwise not have been done. Ihe total expenditure on works was £14,883, of which £3619 was recovered as subsidy. A reduction of £272 in the levies pnvable bv the council to the Auckland Metropolitan Fire Board _ find the Auckland and Suburban Drainage Board for the present year was due to the revaluation of the borough, said Mr. Goldstine. The previous valuation of the borough had been made in 1930. when property and house prices were at their peak, said Mr. A. Leese, town clerk. In consequence values had been fixed at a level 25 per cent above that obtaining during the previous seven ?ears. Tho recent valuation had reduced ! these prices by 20 per cent.