NEED FOR CURTAILMENT

Poverty Bay Herald, Volume LXI, Issue 18585, 20 December 1934, Page 8

NEED FOR CURTAILMENT

HOSPITAL EXPENDITURE THIRD QUARTER POSITION SECRETARY’S REVIEW The necessity for the curtailment of expenditure in the last quarter of the current financial year was emphasised by the managing-secretary, Mr. C. A. Harries, in a report to the monthly meetingi of the Cook Hospital Board yesterday afternoon. Mr. Harries indicated that at the end of the third quarter there would be an estimated cash debit balance of £8541, and that the amount available for the fourth quarter would be £7631. Mr. Harries submitted the following review of the board’s finances: —

“The report of the finance committee for last month and by review of the board’s expenditure to that date indicated a deficit at the end of the present financial year. A review of the position as it will appear at the end of the third quarter discloses the following: “Capital. Expenditure to date, £1130; payments made out of current account against Maternity Home loan moneys, £357; total expenditure to end of third quarter, £1487; less levies and subsidy received to date, £B7B, £609. “MaintenaiW. —Cash debit balance at December 19, 1934, £5791; add salaries due iii December, £1200; December payments less estimated receipts, ■ £1550; cash balance at end of third quarter, debit, £8541.', * “Maintenance levies due by local authorities and Government subsidy

thereon are payable at the end of each quarter, whilst capital subsidy is payable by the Department of Health only after capital expenditure lias been incurred. The sum of £6160, being levy and subsidy due on January 14, has been claimed, and will leave the board in the following position at the end of the third quarter Maintenance, debit balance, £8541; capital moneys expended out of maintenance, and to be refunded, £609, £7932; levies and subsidy due oil January 14, £6160; anticipated deficit at end of third quarter, £1772. “The position disclosed calls for a curtailed expenditure in the last quarter if the position is to be improved. Except for uncompleted work, general maintenance of tlie board’s properties budgeted for has been carried out and no further expenditure will be put in hand without the prior approval of the board. “A resolution authorising ail application for Ministerial consent to the board’s borrowing by way of bank overdraft an amount not exceeding £7631 is necessary to meet the cash requirements of the fourth quarter. The figure is arrived at as follows Levies and subsidy for 1934-35, £26,145; total levy and subsidy claimed to end of third quarter, £18,514; available moneys for fourth quarter, £7631.