SOUND FINANCE

Wanganui Chronicle, Volume 74, Issue 138, 13 June 1931, Page 8

SOUND FINANCE

WANGANUI COUNTY’S YEAR REPORT BY ENGINEER “To be quite candid with you, I had no idea that our position was as good as it is,’’ said Councillor D. Mackintosh, chairman of the Wanganui County when the engineer’s annual report was tabled at yesterday’s meeting. He said that the debt of tho county amounted to £38,000 and included in that was £lO,OOO represented by work ers’ dwellings. By striking a rate of lj in the £ over tho whole county the whole debt could be wiped out. There were few local bodies in a position so favourable. Tho engineer (Mr R. R. ’Dawson), in hie annual report made a comprehensive survey of the year’s operations. “During the past financial year t was considered advisable, owing to the general financial depression, to restrict expenditure where possible, - ith the result that non-essential work was delated from the estimates,” Mr Dawson stated. “Fortunately, the condition of tho roads generaih were such that tho reduced expenditure has had no serious detrimental effect, and with strict economy in the current year’s expenditure the rate may be reduced over tho greater part of the county in terms of the estimates herewith submitted. “The county debt, as shown on the last audited balance-sheet, is £62,309 16s 7d, of which £-32,868 12s 3d is inscribed debt but of tho lattei amount £14,704 17s fid will be paid off within the next five years, leaving a balance of £18,163 14s 9d, of which approximately £9OOO of principal will have to be repaid to date. Loans from the State Advances Deuartnicnt and Public Trust Office total £33,350, and sinking funds of £6524 have accrued, thus leaving an actual debt under this heading of £28,826. The annual and interest fund charge is £<3457, of which £451 is contributed by the Rangitikei and Waimarino County Councils.

“It will be agreed that the financial position of tho council is most satisfactory, particularly in view of the fact that for the, past ten years, with tho exception of a metalling loan in the Upper Wangaehu Riding, all construction work, the purchase of all machinery, and at least land and cottages for two roadmen, have been provided for from revenue, thereby avoiding tho interest charges on loans which would have prevented the council, to some extent, giving the ratepayers relief at a time such as this.

“Liberal expenditure has been made for the construction and maintenance of roads generally throughout tho county for some years prior to 1931, and for this reason it is now possible to reduce the rates. It is not suggested that further improvements are unnecessary; there is ample scope for desirable improvements to almost all roads in the county, but it is contended that tho suggested rates will bo sufficient to maintain the roads for the current year in reasonably good condition. “The only reconstruction work, for the past season, has been the widening and metalling of the No. 1 Line at the Wangaehu Hill, on which a bituminous surface will bo laid as soon as condi-, tions are favourable. The remaining portion of this road, approximately eight miles, is in good condition, and although it was intended to re-seal three or four miles this year, it is now’ proposed to abandon the work for a year later and in tho ineartime effect light repairs as necessary. The reconstruction of this highway has proved to be an economic proportion quite apart from the improved suriace, and has placed the riding in a position whereby the rates can be considerably reduced.

“The council have an up-to-date plant at Eastown capable of dealing with 95 per cent, of its repair work, at at a cost considerably less than has been the case in the past. The making of concrete pipes and other equipment is also a further economy. The machinery and plant is all in fair condition and no new purchases or extensive renewals is anticipated this year. “The activities of the Public Works Department for the past year or two, by way of road formation and latterly metalling, has been extensive. Practically the whole of tho Vanganui River road has been formed and some miles metalled. Tt is possible that the necessary bridges will be erected and the formation cleaned up in readiness for traffic by the end of next summer. Road widening has been completed and a base course of metal laid on the Upper Wangaehu Valley Road between Mt. View and the county boundary. This road will also require to be cleaned up after the winter months, as slips are likely to be numerous. Both these roads are going to be of service to the ratepayers but more particularly to the general public, and it will no doubt be necessary to obtain tho assistance of the Highways Board or Public Works Department by way of preferential subsidy for their maintenance. Tho Mangawhero Road formation is nearing completion ami a bridge across the Mangawhero River will be necessary before it will be of service to tho ratepayers. Metalling work has been commenced on Fields Track and this work will no doubt be completed during next summer season.”