BOROUGH FOOTPATHS

Waipa Post, Volume 38, Issue 2286, 28 March 1929, Page 4

BOROUGH FOOTPATHS

FINANCING THE WORKS,

Since the publication in last issue of the footpaths recommended by the Borough Council last Monday, for asphalting, there has been some criticism of a schedule involving an expenditure of £1921 when only £1754 was available in the loan account. Full reference to this was made during the discussion at Monday's meeting of the Council, and it appeared so obvious that the Council would not ignore its financial position and bring about an over-authorisation of works that we did not report 'how finances were to be arrived at. Naturally it follows the Council would deal cinly with a schedule that its finances would render possible.

However, as' the question is discussed an explanation appears necessary, it can be said that the actual unexpended portion of the loan money is £1754. For the purposes of the footpaths listed the Council has already £l5O wojrth of material on hand and paid for. Also about £4O worth of kerbing is already completed. This is equivalent to the Council having £1944 in the bank and available for the purposes of the £l9Ol worth of work scheduled.

In addition, a certain revenue would accrue from the hire of the plant, and that cc,uld also be devoted to loan xependiture if necessary, leaving a margin over and above the cost of the works actually listed for attention.