CITY’S FINANCES

Wanganui Chronicle, Volume 80, Issue 87, 13 April 1938, Page 5

CITY’S FINANCES

TOWN CLERK’S REVIEW

PAST YEAR’S RECEIPTS

GENERAL ACCOUNT IN CREDIT REDUCTION OF PUBLIC DEBT A lengthy report covering the financial operations of the various municipal departments and accounts was presented to Monday evening’s meeting of the Wanganui City Council by the Town Clerk, Mr. G. Murch. The council did not discuss the report, the Mayor (Mr. W. J. Rogers) stating that councillors would like time in which to peruse the slate of the various accounts.

A tribute to Mr. Murch and hh> staff for having the accounts finalised so early after the conclusion of the financial year was paid by the Mayor.

One of the features of the report was the improvement in the percentage of rate collections when compared with the previous year.

“When the estimates of the revenue from ordinary sources and the expenditure required to meet the outgoings, were framed, it became necessary to increase the amount of the consolidated rate by 1.915 d in the ±, the water rate levied remaining the same as that for the previous year,” stated the report. “The total rate levy for the period was £109,020, the increase over that of last year being £13,691. “The aggregate rate levy for the past ten years is as follows; Year. £ 1928- 121,195 1929- 119,547 1930- 115,717 1931- 107,517 1932- 107,401 1933- 96,735 1934- 9U.711 1935- - 88,341 1936- 95,329 1937- 109,020

“The financial result of the operations of all accounts comprised in the district fund account, at the close of the year is as follows : General account £3,273 17s 2d (credit), library account £29 4s 4d (debit), street lighting rate account £253 0s 5d (debit), hospital rate account £695 18s 4d (debit), interest rate accounts £3,011 10s 9d (debit), debit balance £715 16s Bd. Gas Department “The revenue of this department continues to show a steady increase. The receipts total ±58,297 8s 5d (not including the sum of £lOOO transferred from the depreciation fund towards the cost of re-sheeting the gas holder), as against £53,944 Ils 4d ror the previous year, the increase being £4,352 17s Id. Owing to the abnormal amount of expenditure which the department has been called upon to meet, and which has exceeded that of last year by £9,463 8s od, the credit balance of ±2,811 5s 7d at April 1, of last year, has been reduced to £8 3s Id.

The principal items of expenditure on renewals and new plant are as follows:—Renewals of plant, genera< £1,133 13s 9d; re-sheeting holder, £3,916 13s 8d; renewal of meters, £460 13s 2d; new meters, £1,083 9s sd; renewal of mains, £742 0s Id; new mains, £695 14s 4d; re-sheeting small holder, £342 15s lid. These alone amount to £8,375 0s 4d. “In order to meet the demand and to improve the supply of gas to Gonville and Castlecliff, the council decided to erect a holder in the latter suburb, the site selected for the purpose being in Miro Street, where an area of land has been acquired. A contract has been let for the supply and erection of the holder, and the site has been prepared, and the wont of putting down the foundations commenced. The estimated cost of the complete work, including the purchase of the land, is £BUOO, and the consent of the Local Government Loans Board to the raising of tht sum by way of overdraft loan from the Bank of New Zealand has been obtained. The money will be repaid out of the revenue of the gas worxs undertaking at the rate of £l6OO pci annum spread over a period ol live years. Tramway Department “At the beginning of the year the account of this department was in credit of £1236 Ils 4d, but closed with a credit of only £lO5 0s 10d, the difference being ±ll3l 10s 6d. It should be noted, however, that the sum ol £1432 was spent in the purchase of a new bus. “The amount estimated for receipts from the trams and buses was £23,665, and this has been exceeded by £372 3s 2d, the total receipts being ±24,037 3s 2d, while the expenditure during the year was £lOOl 6s 4d less than was provided for in the estimates. Alexander Library “The year just closed completes the 20th. year of the council’s administration of the public library, during which period a marked transformation has taken place. From the oia building in Ridgway Street, with a membership of only 220, the library is now housed in a new and modern building in Queen’s Park and has over 2000 subscribers.

“In spite of the opposition from other lending libraries, this institution has retained the support of the citizens, and the receipts and membership again show an increase on the figures for the previous year, the membership being 2051 and the receipts £llB4 Ils Id.

Motor Camp Sites

“The past summer has been most favourable for motor camping, and the camp sites at Aramoho Park and at Castlecliff have been well patronised. The council recently acquired an additional area of 2i acres for the purpose of enlarging the camping ground at Aramoho. This has been levelled and terraced, and was available during the busy season. Camping at Castlecliff at the old kiosk site was very popular, many preferring a seaside camp during the Christmas season.

“The receipts from the camp sites exceeded that of any previous year, the takings being £531 18s 9d at Aramoho, and £5O 12s 6d at Castlecliff, as compared with £492 19s, and £lO 9s respectively for 1936-37. The number of camping parties at Aramoho was 2140, an increase of 145. “Details of the receipts from the

Aramoho camp site are as follows: Hire of huts £179 7s, camp fees £351 Ils 6d, other fees £1 0s 3d. Government Housing Scheme “The Government has acquired from the council several areas ot land for the purpose of erecting houses thereon, the sites selected being in Jackson, Grey, London, and Fergusson Streets, Smithfield Road ana Selwyn Crescent. The price paid to the council was £4500 for approximately lOi acres. Contracts were let by the Housing Construction Department for the erection of 43 houses, of which number more than one half have been completed. It is understood that these will shortly be ready for occupation. Municipal Golf Links “The golf links established on the Gonville Domain in 1934, have received increased patronage, and the course is now exceeding popular, due largely to the excellent condition in which it is kept. During the year a new pavilion was erected at a cost ol ±377 10s 9d, provided in the meantime out of the general account and to be reimbursed when the Domain Board has sufficient accumulated funds. The revenue of the board for the season was £529 13s 7d.

“The revenue from golf fees showed an increase of £5l 2s 7d, the takings for the previous year being £432 4s 9d.

Public Debt

“The following table shows the public debt of the city for the past 10 years:—

“During the last ten years the gross public debt has been reduced by ±253,146, and as the various loans mature, there will be, with one exception, accrued sinking fund sufficient to repay in full the capital borrowed. The exception is the loan of £121,400 raised in London in June, 1932, for a period of 10 years, with a 3 per cent, sinking fund, which is estimated to accrue to approximately £44,000 on the maturity of the loan in June, 1942.

“The amount paid during the year as sinking fund and for repayment ol loans by instalments, was £23,537, and of this sum the gas department provided £2564, the remainder, £20,973, being paid out of the general account.”

Gross. Sink'ng Net 1928- .. £1,127,338 £142,894 £984,444 1929- .. £1,123,498 £162,853 £960,645 1930- .. £1,117,934 £182,489 £93-.,445 1931- .. £1,058.493 £178,918 £879,575 1932- .. £1,018,624 £160,344 £858,280 1933- .. £1,012,147 £173,574 £838,484 1934- .. £952,120 £141,117 £811,003 1935- .. £929,905 £144,642 £785,263 1936- .. £899,715 £141,971 £757,744 1937- .. £874,192 £145,452 £728,740