WAIROA COUNTY FINANCES

Poverty Bay Herald, Volume LXIII, Issue 19027, 29 May 1936, Page 10

WAIROA COUNTY FINANCES

SLIGHT IMPROVEMENT NOW ON SOUND BASIS CHAIRMAN’S OUTLINE (Hurnid Correspondent.) “As tlio result of Ilif cure exercised during' (lie diliicult years I lie Wairoa County Council lias, experienced since 1930-31, its position once. more, lias keen established upon a sound basis,” stated the chairman, Cr. A. t!. Nolan, at, the annual meeting of the council on Tuesday. Cr. Nolan added :

' “The balance-sheet for the year just concluded shows that a further slight improvement has taken place in the council’s financial position. The credit, balance of the county fund account stood at £3855 3s 2d, as against £3685 5s 7d at March 31. 1935. This improvement would have been a great deal more substantial but for the fact, that the past year was one of the wettest experienced for a great number of years, resulting in extensive damage to roads and bridges, which necessitated heavier expenditure than had been provided for on the estimates. The maintenance of ordinary roads and bridges, apart from main high - ways, alone cost £3OOO more than in the previous year. Under the circumstances the slight improvement shown must he regarded as satisfactory. “The total receipts for the year from all sources amounted to .£67.291 12k sd. rs compared with £77,271 14s 5d for the previous year. The drop in the receipts is due lo the falling off of transactions in the unemployment relief separate ac-

count, refunds of relief expenditure lie iug £13,560 7s 3d less than for the previ oils 12 months.

“The total expenditure for the year amounted, to £62,125 15s lOd, as against £73,177 14s lid for the previous year. As on the receipts side, the decrease is due to the lesser expenditure occurring under (he heading of 'unemployment relief.

COLLECTION OF RATES “The total native rates collected (current and arrears) during the year amounted to £1347 O.s 7d. as compared with £I3BB 16s 4d for the year 1934-35, The percentage of European rales collected was 94.2 per cent, as against 91.4 for the previous year and is the best since the year 1929-30, when the percentage was 97.6 per cent. The native rate collection, although not quite .as good as the previous year, is also .satisfactory.

‘‘During the year the Government .again assisted ratepayers by providing a special subsidy of 12J per cent on i ales on farm lands and this relief was much appreciated and no doubt contributed to the better collection experienced.

“The public debt of the county on March 31, 1936, stood at £102,224 7s 6d, as against £112,939 19s lOd on March 31, 1935, the reduction of £10,715 12s 4d being brought about as the. result of loan conversions when accrued sinking funds were applied iu reduction of the principal owing on loans raised from the Public Trustee. The present amount of the debt represents a reduction of £22,673 16s 3d on the highest peak it reached of £124,697 3s 9d on March 31, 1927. No new loans were raised. Conversion of the convertible part of the debt was effected on August 1, 1936, upon the security of consolidated rates over I lie whole county. In connection with the non-convertible loans the council has levied a uniform special rate over the whole county to provide interest charges. As from April 1, 1936, the whole county will lie rated uniformly to provide the annual charges on (he debt-”