POWER BOARD FINANCE.
LETTER TO BOROUGH COUNCIL. MATTER FOR BOARD MEMBERS. Tire Finance Committee of the Timaru Borough Council at its last meeting considered a communication from the Waimate Borough Council, asking for support to a proposal to secure the services of an independent qualified accountant tc inspect the accounts of the South Canterbury Power Board. This circular letter asked that such an accountant should prepare a balance sheet of the revenue and capital accounts of each district in the Board’s area, allocating to each its due proportion of general capital expenditure and of overhead expenses, based upon the percentage of capital raised. The committee recommended the Council last evening to decide that, as it is a purchaser in bulk from the Government, the Power Board merely acting as agents, the matter is not one for the Council to deal with, but for the individual members of the Board to deal with as they think fit. This was adopted.
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Bibliographic details
Timaru Herald, Volume CXXV, Issue 18613, 8 July 1930, Page 8
Word Count
159POWER BOARD FINANCE. Timaru Herald, Volume CXXV, Issue 18613, 8 July 1930, Page 8
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