The Taranaki Herald. PUBLISHED DAILY.

Taranaki Herald, Volume XXXVI, Issue 8005, 25 October 1887, Page 2

The Taranaki Herald. PUBLISHED DAILY.

It haB been pointed out to us, however, that we ought to have reduced the net asset of 1885-6 by the outstanding interest due, which is not shown in the authorised doouments with the Town Clerk's name attached to it. We are supposed to assume it was owing because a similar liability is shown in the accounts the following year. Why 'we should assume anything outside the authorised accounts we fail to see ; but for argument sake, however, let us say we were wrong, and how would the accounts then stand ? .' ' £ a. d.. £ b. d. Net assets 1885-6. 1,553 ,2 6 Less interest due 507 10 0 ! .. — 1045 12 6 Net asset 1886 7as above ... 479 18 7 It will not do to assume that the Borough has any assets except those shown in the accounts ; and therefore as we have shown everything in the statement published by us on Saturday, it behoves the councillors to trim their municipal "sails . if they do not want to drift into difficulties. The only thing that seems to have saved the Burgesses from an .additional rate this year was the Government subsidy of £8,75. Had that not been given' to the municipality, the rates would have had another 4d in the £ added to them. There is nO ) likelihood .of this' subsidy being re'- 1 newed in these days of retrenchment, so if our councillors do not commence to cut down the municipal expenditure they will " soon land the ratepayers in difficulties. "This is a" serious matter, and; the ratepayers have a right to know .the true position of the finance of the Borough.. As -we have said before i the statement published officially is far from clear. The accounts are made up.in such a oom-plicated-m'anner that" it is difficult to get the information that is wanted from them. For instance, we find under the heads of " streets " the items labour, tunnels, asphalting, metalling, and the .bridge in Powderham-stieet. Then under the head " miscellanous " there , is " drainage, plant, timber, paving and ,, kerbing, and forage." Why. are not all these items plaoedujnder the'head of streets ? They were ;iu 1885-6/ and should have been so placed in the accounts of 1886-7. In. .the/*' statement of interest acoount " we find the " special rate for the half yea* 7 ending 31st March, 1886," and '« for the 81st March, 1887" aooounted for ; but there is nothing about what was received of " the speoial rate for the half year ending 30th September, !1886."! 1886." This may be another mistake and "81st March" maybe intended for ":30th September," but who is to know it ? for we can only deal with what is published authoritatively. There are two services in connection with the Borough for which the ratepayers do not get fair value for their money. They are the public works, in connection with the streets, and the water supply. With regard to the streets- we find taking all the items the sum of £1441 9s has been spent during the year 1886-7 ; but in looking round the town we fail to see the value for that sum of money. The waterworks, as we showed the other day — instead of the revenue increasing with the additional expenditure, wa& decreasing. This, it has been pointed o'ufc to us, was owing to the Valuation of property being less ; but we have since found oufc it was owing greatly to the supply being extended beyond the original boundary, and those who' are being connected with the service are not paying rates in proportion to the benefit -they receive. Amongst the items of expenditure in the water supply account we have £176 12s lOd for " sundries." " This is a large amount,, and certainly the ratepayers should be' informed what it has , been expended on. We could go on and on in pointing out things that want explaining; but no one can get. over the fact that stares them in the face, that the accounts show the year 18.86-7 q'ommenced with a balance in hand of £704 lls-lOd,- and- closes with -a deficit of £73 5s Bd, and therefore financially in the year's transactions 1 the municipality had gqne to the bad hj £777 17 sod.'

I Z — . . •? There is nothing 1 that' can be mafle to lie like figures " 'i 3 a proverbial quotation, built on ;the.most'pfpfound observations of the "Human mind; aad our readers will beaiflis out that this ■truism^is in nothing more apparppt than irrthe various statements which Have been published "of the Borough ';accoants for the last year. On Saturday last-we published from the figures 'authoritatively issued to the ratepayers ;,as. correct, &• statement of the accounts of the Borough. Since then anotner statement has been published, of which, as it contained figures not to be found in the official document, we sent- a i asked him if heWdulil Certify to its correctness. This he declined to do, stating he knew'nothing whatever .about it. We cau quite believe him, for a's thereQafcO additional figdres"m this peculiarly constructed. _account which .are not to be found in the official document, ho would only have admit-r ted, if he had certified to it, that the official .^ statement bearing' hjUf^pwn name was imperfeefc. _, We ..may thus fairly presume'that tbefigureß we refer to are incorrect, and the ones we published on Saturday, being tak.en from the official '■ document; signed by the Town Clerk, shows fairly the position of the Borough'B affairs in March last. In going over the Borpugh Accountant's statement, we find that iv 1%885-6 he appoars .to have excluded from hjs assets'the Government subsidy, evidently, looking on ifc ( as an exceptional windfall which could not be permanently relied on. Last year, co make things look more agreeable, perhaps, he included it. It would, however," have been safer to havo ignored it in dealing with the regular income of tho Borough, for its withdrawal suddenly would make the revenue of. the municipality very short; and if ii occurred when it was least expected a financial crisis might be tho result. If,then,theGoverninentsubsidy had been treated last year as the Town Clerk treated it in his accounts in 16850, the balance-sheet we published on Baturday ,Wnld, then have- dhown the following result.: —

! £ B. Cl. £ B. ■et assets ia 1885-6 1553 2 r et assets in 188(5-7 854 18 7 Less subsidy ... 375 0 0 *~ 479 18 d. 6 7