PUBLIC DEBT FALLING
j SINKINC FUNDS OPERATING (NET FIGURE NOW AT £785,260 ! NON-BORROWING POLICY ’ It is disclosed in the annual report of ; the town clerk (Mr. George Murch), i that the net public debt of Wanganui, ! since the financial year 1928-29, has j fallen by £199,263. This downward ! trend has been made possible firstly by • a policy of no borrowing, and, secondly, Iby the freedom to operate thus ali lowed the sinking funds. Mr. March's figures show that from the 1928-29 financial year until March 31, 1936, the City Council utilised sinking funds to repay loans to a total of £12,878,31. The following table shows the reduction in gross indebtedness each vear Cor the past eight years:—
Gross £ N et, £ 1928-1929 . .. 1,127,338 984.444 1929-1930 . .. 1,123,498 960,645 1930-1931 . .. 1.117,934 934,445 1931-1932 . .. 1,058,493 799,575 1932-1933 . .. 1,018,624 858,280 1933-1934 . .. 1,012,147 838,484 1934-1935 . .. 952,12'1 811,003 1935-1936 . . .. 929.905 785,263
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Bibliographic details
Wanganui Chronicle, Volume 79, Issue 106, 6 May 1936, Page 8
Word Count
144PUBLIC DEBT FALLING Wanganui Chronicle, Volume 79, Issue 106, 6 May 1936, Page 8
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