BOROUGH OF RAETIHI

Wanganui Chronicle, Volume 74, Issue 121, 25 May 1931, Page 8

BOROUGH OF RAETIHI

FINANCIAL STATEMENT. From Our Own Correspondent.) RAETIHI, May 25. At the meeting of tho Raetihi Borough Council the treasurer Mr J. H. Lucas, submitted the accounts and his report which showed that the general account had commenced the year with a debit balance of £2137 10s 2d. The expenditure during the year amounted to £5420 18s 4d. The receipts amounted to £51,29 18s 9d. Tho year closed with a debit balance of £2428 9s 9d, from which allowance should be made of the reimbursement of tho special loan ac count of £420 5s 3d, which really means an improvement of £129 5s 8d during the period, thereby showing that the Council has lived within its means asj far as this account is concerned. The Electrical Department had experienoed a year of progress. The ro\enue for year from sale of current amounted to £4803 18s 5d being the highest on record. Sale of goods, installations,* etc., amounted to £1162 bs 3d. This latter item included the trading stock sold. Tho expenditure amounted to £5759 7s 4d. The year commenced with a debit of £739 10s 3d and ended with a debit of £349 7s 7d, thereby showing ■ that the account is £390 2s 8d better off than at the commencement, and iu addition ha s a depreciation reserve of £585 3s 8d set up. Hospital Account. —Te debit balance at beginning of year was £4] 13s lUd anj at the end of the period £l3 2s, the amount of rates collected being £232 16s lUd. Deposits Account.—Deposits accounts are credit accounts. Credit of £lO on general deposits and £167 9s 6d on electrical deposits. £15565 (Special Loan Account.—To comply with requirements of audit the sum of £420 5g 3d was paid back into this account from general account, making a credit of £909 Is sd, of which sum £9OO is on fixed deposit. The inter, est that is earned in this way is credited to the interest account in respect of this loan.

Cemetery Account.—Credit balance increased from £9l 0s 5d to £lO7 4s 0 1. Motor I 4 orry License Fees.—Tho amount of heavy traffic fees collected during the year was £3ll 3s sd, being £l3 more than the previous year. A balance of £4B 3s 5d is being carried forward, being fees received too late to forward to the pool for distribution before the end of March. Public Library Account.—By resolution of the Council this account was closed during the year, the credit balance of £15,16.5 being handed over to the committee. Land Fund Account.—Application was made anj granted to have this account included in the general account, the balance from last year of £46 19s Id which was the accumulation of a number of years “thirds” has been transferred to the general account. Interest Accounts.—There arc fifteen separate accounts. At the beginning of the year the nett debit was £1205 6s 7d. During the year interest and sinking fund amounting to £3497 14s lOd was paid, £1912 Is 8d being found by the Electricity Department and the remainder £1585 13s 2d by way of rates. An amount of £ll7B 9s 8d was due to be paid on March 15, but was not paid, lhe nett balance on the 15 accounts shows as £244 6s 2d credit on the bal ance-sheet but for comparative purposes a debit of £934 3s 6d which, although, not as it should be, is £271 3s Id better than at the beginning of the year. Interest accounts No. 5,9, 12, 14 will have to produce more to correct their debits. Total rates outstanding at com. mencement of year were £4368 10s lOd struck during year, £5435 10s 4d; cash’ collected ot' arrears amounted to , £1563 7s ed; and off current year, £3362 17s id. After deducting £5B 7s 8d allowed L Ol P l ' oln P t payment there nn 9 I s 6l ? stlil owing to the Council. lhe total collected during tho year is £<ul 16s 6d more than the previous year. Although tho statement shows a larger amount outstanding than previ•)USi Beneraj|y8 eneraj| y speaking the statement h better, particularly as far as the collector of arrears. Reserves Statement.— Outstanding at beginning of year, £ll7 10 s lod and at II),‘n? yCU /’, £lll Os lud - The Audit IDopaitment drew attention to the lar-m n> n i 'de" t t out , staudi "g- Effort has been made to reduce the outstanding, which “ C f d Porting the items colll'r amounting to <s bd were not paid which had always been sure. Sinking Fund.-The accrued sinkino lunds invested with the Public Trustee and bearing interest nt the rate of 54 PC '' annum > now amount to 1J787 Ils 3d. The public debt of the ,is at March 3, 1931, was £7l,Moneys invested with Public Trustee as at March 31, 1931.—Accrued ’sinkinu trieal’ l' S 3d ’ dc P rcci ation £1 •'■ ' , i lng ’ 1592 ss ; total f “" d s, 11D3/J pis od; interest derived last £4Bl 9 ni 3 | '“ Cluded in abovo total was