IN A HEALTHY STATE

Wairarapa Daily Times, 17 April 1935, Page 5

IN A HEALTHY STATE

BOROUGH FINANCES. STATEMENT BY MAYOR. The finances of the Masterton Borough, according to a statement made by tho Mayor, Mr T. Jordan, at a meeting of the Council last night, arc in a particularly healthy condition, the year ending with a credit balance of £3834 9s 3d. The Mayor mentioned the possibility of a reduction in rates in the near future. The excess of receipts over expenditure for the year was £2462 6s Id. The rates struck for the year totalled £27,929 I9s Bd, as compared with £27,653 Os Id in the previous year. Ninety-six per cent wero collected to 31st March this year, the total being, after allowing for tho five per cent discount, £25,831 14s 7d, against £25,314 16s lOd in 1934. Tho amount in outstanding rates as at 31st March, was £1055 Os Id, as compared with £1276 6s lOd tho previous year. Mr Jordan said that the large credit balance was due to the conversion of the borough’s loans. They were in credit everywhere. The figures justified the ratepayers in saying that they should get something back by way of a reduction in rates. The ratepayers had been “very good payers,” and tho new council would find itself in a position in which some relief to the ratepayers would be possible. Ho was of the opinion that something could be done in that direction. During tho past year between £BSOO and £9OOO had been spent on streets and footpaths in the borough. The total fees derived from motor taxation during that time amounted to £2300. That meant, he added,, that the ratepayers of the borough found approximately 75 per cent of the money spent on the streets and footpaths, about 25 per cent coming from motor taxation. The position in the counties was exactly the converse. Seventy-five per cent of the money spent on main highways came from the Highways Fund, and 25 per cent was found by the ratepayers.