COLLEGE GOVERNORS

New Zealand Times, Volume XLVII, Issue 10811, 29 January 1921, Page 4

COLLEGE GOVERNORS

THE MONTHLY MEETING QUESTION OF FINANCE MENTIONED. The monthlv meeting of the Wellington College Board of Governors was held yesterday., Mr W. V<". Ward (chairman) presided, and the other members present wore: The Mayor (Mr ,1. P. Luke), -Messrs T. Forsyth, R. Darroeh, W. H. P. Barber and W. H. Denton. The financi.il statement showed that the debit balance at the bank amounted to £3246. "13s 4d, and that the/ sum of £2581 4s 2d was required for January paymen ts. Of the necessary disbursements .Girls’ College would absorb £1457 11s 6dl, and the Wellington College £1123 IPs Bd. The feet-.s outstanding totalled £159 ss, the sum of £43 17s 4d being in respect to Girls’ College and £ll-5 7s 8d for tuition at Wellington College. The rents outstanding amounted to 12281 2s 6d, and £155 14s 6d was dire I’or free place fees. The sum of £looo* was on fixed deposit and £1350 in the endowments account. * In respeat to the finances, Mr Barber said it ivas advisable to lift the £IOOO which was on deposit in order to reduce tho overdraft. The chairman said that, the Government now paid the salaries direct, but there would still be a deficit in the bank accoumt of approximately £3500 after the Government payments had been met. The finances would have to be careful! v gone into, and cut his suggestion, discussion was deferred until certain matters-had been adjusted with the department. The board* then went, into oommittee, and amongst the matters to be discussed wc ire the foflilosvTnig motions brought forward by Mr R. Biairroch.: — “That a .report be prepared showing the total amount of money received from endowments since the introduction of t.he free place system,” and “That competitive designs be invited through the Press for the new Wellington (ploys’) College.”