BOROUGH FINANCES.

Taranaki Daily News, 16 December 1924, Page 8

BOROUGH FINANCES.

NEW PLYMOUTH’S POSITION. STATE OF THE DOANS. DETAILS BEFORE COUNCIL. An interesting statement concerning the position of some of the New Ply mouth borough loans was pat before t’lie borough council by the Mayor (Mr. F. E. Wilson) last night. •For the council's hydro-electric undertakings, the statement showed that up to November 30 a total of £235,500 had been raised, the loans including one of £31,500 for reticulation purposes in the outer parts of the councils power district. To November 30 £224,081 9s 9d had been spent, leaving a credit of £11,418 10s 3d to accounts. The ci edit, however, will be reduced considerably by the council’s commitments in connection with the undertaking, of which the chief is £5084 -s lid for further extension of the mains. When the whole of the commitments have been paid for there will be a balance for contingencies of £577 5s lOd. For the £57.000 loan. £44,700 had teen subscribed to November 30 and since that date another £2200 had come in. This amount, the council decided last night, to allocate to the streets vote. A. summary of the street allocation votes showed that £31,-’Of) had been allocated and £29993 ICs 9d spent or authorised to be spent on plant, widening and general street work, leaving a balance of\ £1506 9s 3d in the allocation which had not been set aside for any particular work.

Of the sewer allocation of £2OOO, £049 Is 7d of the vote of £750 had been expended in taking levels for a comprehensive drainage scheme and £lOOO was being retained to defray the cost of an expert report on a comprehensive scheme, leaving a balance of £250 in the allocation. In the water--works portion of the loan the amount not spent or authorised was shown ad £1730 6s lid. In tne public conveniences account there was a balance of £2 Is 4d. and there was also a further £lOOO shown as not being allocated to any particular vote in the loan. A summary showed that at November 30 the amount of the loan moneys not yet spent or allocated to any particular work was £4488 17s 6d.