“SOUND FINANCES”

New Zealand Times, Volume L, Issue 11497, 18 April 1923, Page 4

“SOUND FINANCES”

w 1 THE CITY’S YEAR SMALL SURPLUS FOR PAST TWELVE MONTHS. “KEPT WITHIN OUR MEANS.” “Wo have kept within our means.” was how the Mayor (Mr R. A. Wright) described the Wellington City Council’s financial year, which closed on March 31st, to a “Times” reporter yesterday. He stated ,that the Government auditor had just completed his inspection of the books of the council. Last year a debit balance was disclosed on the year’s operations of about -.£42,000; the twelve months just closed yielded' a credit balance of £14,000. When allowance was made for several ? commitments made by the council in its estimates and not provided for in the statement a small credit remained. - The following are the figures in detail:— ■ j RECEIPTS. Rates. —Arrears, £10,771 2s lOd; current, £280,869 16s; total, £291,640 18s lOd; additional 10 per cent., £745 16s sd. Rents. —Reclaimed land. £35,595 15s 9d; street widening,. £7936 13s sd; Paifiatua, £782 lie 7d; sundry properties, £934 3s lOd; market reserve, £1507 17s; total. £46.757 Is 7d. •Licenses, £9829 9s 2d. Building fees, £2981 10s-. Waterworks. —Water by meter, £16,238 13s lOd; repayments, £l4io 13s 6d: total, £17,709 9s 4d. Baths) , £847 9s 4d. Town Hall, £3347 11s 4d. Libraries, '£3027 18s 4d. Cemetery, £2662 19e. Crematorium, £l3B 12s. Public libraries, £7Ol 0s 7d. Reserves: Rent, fees, etc., £7992 0s sd. Zoo, £1162 7s fid. Cost of summonses repaid, £127 18s Id. , Fire brigade: Rent and services, £4619 15s 9d. Miscellaneous: Wellington Gas Co., £BO9 10s 6d; Hutt road repayments, £2417 17s; Sinking Fund Commissioners, £4OO. 1 Interest on overdraft (tram-wayß), £3293 17s. Interest on overdraft (milk), £862 17s. 1 Deferred payment, drainage, Miramar, £173 8s 3d. - Hpusing repayments, etc., £4914 3s 3d. Properties sold, street widening, £lO2l Os. sd. ‘ Encroachment fees,' £125 7s 6d. Rate subsidy, £450. ‘Total, £408,766 16s 6d. EXPENDITURE. Streetu'works, £55,909 16s lOck ScaVerging , and street watering, £18,600 Is U. . . v . Collection and destruction of ®efc>e, £17,674 Is' lOd. Town Hall, £2401 Is 6d. ' Drainage, £14,117 15s 9d. Fire brigade,’ £.15,678 7s 7d. Waterworks: Working, £31,721 10a lid. Street lighting, £8720 3s 6d. Reserves, £20,048 2s sd. ■ Salaries, £18,027 2s 3d. Baths, £566 3s Bd. ‘ Publip lavatories and bathing sheds, £2380 17s 2d. ■ <: Libraries, £5933 15s 9d. .Sanitary services, ‘ £1559 11s. * Cemetery, £2054 -16 s lid. Crematorium, -£8 13s 9d. - Hospital and Charitable Aid Board insbal., £32,929 2s. Zoo, £3455 13s lid. Cost of summonses, £165. Dog collars and food, £596 10s 80. Repairs corporation property, £2BB 17s lid'. Motor workshops, £1666 "3s 3d. i Printing, advertising and stationery, £2117 7s Bd. ‘ Miscellaneous (including elections, office expenses, legal, fuel, lighting, and insurance), £17,842 5s 7d. Interest on loans, £78,859 11s lOd. Interest on overdraft at bank, £3997 4s. . Interest on tramway loan deposit, £8385 12s lid. Housing, £197 19s 3d. •: Sinking-funds, £19,255 4s sd. Hutt road maintenance, £3600 4a lid. Lyall Bay, £404 3s 9d. Superannuation, £4179 2a 3d. i Public health, £905 19s Bd. Total, £394,247 6s sd. . Credit balance, £14,519 10s Id. b SPECIAL RECEIPTS AND EXPENDITURE. * Receipts. Balance <as above, £14,519 10s Id. Deposits, contractors and plumbers, £1652 11s. Broadway estate, £428 6s 3d. Property sold, £I6BO 16s. ' Property sold Hutt road (Govern- , ment), £IOBO 10s. Unemployment relief fund, £2502 15s 7d. ■ Melrose district drainage advance, repaid, £1352 17s sd. 'Nairn street and Prince of Wales Park from loan account, £IOOO. ‘ Total, £9767 17s 3d. Grand total, £24,287 7s 4d. Expenditure. Drainage account, Broadway estate, £1206 6s lOd. Unemployment Relief Fund, £36 7 7 0s lid. ' Technical School grant, £SOOO. i Total, £9883 7s 9d. • , Balance, £14,403 19s 7d. The following commitments have to be allowed against the above oredit Mechanical fire ladder, £2BOO. Stokes Valley and Pukurata Stream bridge, £lpoo. Balance of costs, etc., antecedent li- ' ability loan, £3986. Land at Mount street, £2677. Street widening loan sinking fnnd, £lO2l. Legal expenses, £SOO. N • Total, £11,984. A credit balance on the year’s working is thus shown of £2419.

MAYOR GRATIFIED

COLLECTING OUTSTANDING ACCOUNTS. In a further, statement, the Mayor said he was extremely gratified that the balance-sheet had turned out .so satisfactorily. The position, he said, was largely-due to the fact that extra efforts were made by the staff during the month, of March to 1 collect outstanding moneys. The evidence of their work was seen- in., the fact that instead of obtaining the usual £20,000 collect ed m'bhthly secured over £40,000, •the rush of husinoMs .on the last two days of the financial -year being phe poraenal. The-surplus ,was entirely at tributable, toAtsat final 6purt on the part of the staff. It must be borne in mind, he pointed out, that -there were a number of items which should have been met during the financial year, but for various reasons had not been shown in the financial statement. He . referred to the commit-

ments shown above. These items would reduce the balance to almost nil, but they would not extinguish it altogether. “The fact remains,” he remarked, “that we have met our liabilities in every respect, and everything has been provided for. We have lived within our income, and we have complied with the letter of the law as laid out in the Local Bodies' Loans Act. “It is only right to say. in referring to this excellent balance-sheet,*’ be said, in conclusion, “that the council is to be congratulated upon the work it has achieved. Without exception, the committees have done their very best not only to live within their estimates, but to show a little surplus, as some of them have done. For this I have to l thank the councillors on behalf of the citizens. They arc deserving of everything that can be said in their praise.”