Untitled

Poverty Bay Independent, Volume I, Issue 16, 20 June 1885, Page 2

In our last issue appeared a letter from Mr. J. Bourke, Town Clerk, calling our attention to the fact that we had on the 6th of June, when reviewing the Borough fund accounts, taken the gross total “ receipts,” and treated them as income. He then goes on to say “The expenditure for the year was Z'3>7°6 12s sd, not /"4,44i.” We never said the expenditure for the year was /V 441. Our words were, “Thus in two years, although our income had increased by the large sum of Z'3,599, our expenditure has increased by the enormous sum of X’4,441.” It will be seen by the foregoing that our figures distinctly referred to the last two years, and not to “ last year.” Whilst on this subject, and in order that the ratepayers may understand the difference between our position on March 31, 1883, and that on March 31, 1885, we give the following statement, which shows the amounts owing to the Borough Coun-

cil, and also the amounts owing by the Council, on the respective dates : — March 31, 1883. Cr. £ Dr. £ Rates unpaid .. 254 Overdraft .. 199 Rent unpaid .. 81 Cheque out .. 17 By sale wharves 900 Rent of office .. 8 Sundries .. 12 Board of Health 14 To Natives .. 38 £1235 £2BB This shows that the Borough, on the above date, was not alone solvent, but was in funds to the amount of nearly Ai,ooo. We now go to Map.ch 31, 1885. Cr. £ Dr. £ To rents and By Overdraft .. 2035 rates unpaid 178 Metal unpaid .. 237 To Bridge by C. Lamps unpaid 50 C. Council <fc Bridge .. .. 1812 Government 1500 £1678 £4134 This statement brings the Borough indebted in the sum of X' 2 ,456, which, together with the credit balance of X"947 brought forward from 1883, makes the total of say X3,4°3, which has been spent during the last two years, over and above the ordinary income. We now come to the special loan account. This loan becomes due in three years, when there will be a deficiency of some to be made up, which, with our present indebtedness, will make some to be paid out of the ratepayers’ pockets. It must be understood that these figures only represent the state of affairs providing we do not exceed our income during the next three years. But that has already been done, and our indebtedness is increasing daily. In six months time the bridge will require a special rate to keep it in repair !