TAKAPUNA BOROUGH
OVERDRAFT REDUCED
A reduction of £SOOO in the overdraft of the Takapuna Borough Council was referred to at a meeting of tiie council last night, the ovcrdrnft at the end of the financial year on March 31, stood at £'lß,ooo. The amount in 1937 was £21,000.
Keplving to criticism of the amount of the"overdraft, the Mayor, Mr. J. Guiniven, pointed,out that the hulk of the amount had been incurred during the depression. The Takapuna council had not raised loans, as had hcen done elsewhere, the amounts being placed -on overdraft. The financial position of the council was contingent upon the ability of ratepayers to pay their rates and the improvement 'in the finances during the past year, in his opinion, was attributed to this. Reference was also made to the collection during the past 12 months of £6OOO of arrears of rates.
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Bibliographic details
New Zealand Herald, Volume LXXVI, Issue 23320, 13 April 1939, Page 17
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144TAKAPUNA BOROUGH New Zealand Herald, Volume LXXVI, Issue 23320, 13 April 1939, Page 17
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