Town Board Finances.

Otautau Standard and Wallace County Chronicle, Volume II, Issue 101, 9 April 1907, Page 5

Town Board Finances.

The balance sheet of the Board for the year ending 31st March übmitted to last night's meeting, showed that the year had been a busy one, and that the revenue had been well maintained and a great deal of work accomplished. The total revenue from ordinary sources had been £397 6s 9d, the principal items being : rates £125 19s 9d, .license fees £124, rent of hall £67 2s 6d, refund of expenses incurred m raising loan £33 5s 9d, and Government subsidy on rates £29 14s 3d. The expenditure had exceeded the income on the general account, and instead of a credit balance at bank ■ on that account thero existed an overdraft of £42 4s lid. The chief items of expenditure were : street improvements and material purchased for same £216 lis 9d, salaries £-17 10s, repairs to property and painting hall £36 16s 6d, printing and advertising £24 5s 6d, engineer's fees £17 17s. Nearly all work had been done by contract, as the labour account was only £16 15s 9d, lamplighting and hall caretaker £25 8s 4d, licensing expenses, ranging, fire insurance, In<?r>pctor of Nuisances, election and < X..lK ..l „x,,^<- »•>** £W 15s lOd, and ... '.'•' £ii ii.i 1 h x. i mvil-* ! -i V"-* Exhibition, Other items c.inio ;.o

The cemetery account started with £21 14s, m the bank, and the receipt* had been £17 8s Gd, while the expenditure had amounted to £81 5s 6d, the largest item of which had been for improvements to the ground £12 Bs, while salary, sexton's fees, and labour combined had taken £16 15s, The Trust now had £7 17s m the bank. With the balance brought forward from last year the receipts m the contractors' deposit account had been £18 6s 6d, while there had been refunded £18 4s, only one small contract, with a 2s 6d deposit, being incomplete. I Interest account for the year had been £30 17s 6d, and there had been collected to meet this special rate_ amounting to £63 Os 9d, of which £58 10s was m the Bank on a special account, earmarked to pay off the Debenture Loan of £200 falling due m 1909, it being expected that the special rate by the due date would provide a fund sufficient to wipe- the entire loan out, the general fund of the Board being indebted to the in-\ terest account to an extent that would- < require interest for the next two years being paid out of ordinary revenue without encroaching on the special , account. STREET IMPROVEMENTS LOAN. £400 had been received from the Government on this account, and from it a refund had been made to the Board's general account of £33 5s for expenses incurred m floating the loan. Of the balance of £366 14s» 3d the sum of £366 4s 3d had been spent on street improvements and river embankment, the cost of administering the loan had been 7s Id, and there was left m the Bank 2s lid. ASSETS AND LIABILITIES. The liabilities at date of balance amounted to £42 6s sd, and the assets to £134 8s 3d. While the public ' debt, represented; by the Debenture Loan of £200, Drainage Loan, and Improvements' Loan, with inj : scribed interest, amounted to £1227 1 1 12s 3d, all of which was being auto- ; j matically repaid by the sinking fund apportioned by the Government. '