CITY FINANCES.

Star (Christchurch), Issue 16584, 17 November 1921, Page 8

CITY FINANCES.

MR H. HOLLAND AND THE OVERDRAFT. DEPUTY-MAYOR IN REPLY The Deputy Mayor (Councillor J. A. Flesher) who is chairman of the City Finance Committee, replying to-day to Mr H. Holland’s criticism of the huge city overdraft, stated that although the total was £200,000 as stated by Mr Holland, £65,335 represented loans matured, which had been paid out of general account, and advances made on other accounts. In addition to that the city had paid for seven months* services to the city to the end of October, without getting in the income. This seven-twelfths of the city’s expenditure would reduce the overdraft by about £50,000. This would bring the overdraft down to roughly £74,000. So far, this year. only £8677 had been collected in rates. In two years, however, the wages bill had risen £IS,(XX) and metal costs £7500. This year’s estimates, also, provided lor u reduction of the overdraft of £7500, and also included the cost of the roll and the election and revaluation. In addition the city had been enlarged. Mr Flesher denied Mr Holland’s statement that the rates had doubled since he left office. The total amount levied for rates for r» 11 purposes in 1918-19, the last year of Mr Holland’s term was £143,064. This year it was £195,000. The general rate included in this sum two vears ago was £69,415. This year it" was £101,054. Mr Flesher added that £15,000 had already been paid out to the Fire Board, Hospital Board and Domains Board, Iput none of this amount had yet been collected dn rates.