THE BOROUGH FINANCES.

Wanganui Herald, Volume XXXXVII, Issue 13680, 14 May 1912, Page 3

THE BOROUGH FINANCES.

TOWN CLERK’S ANNUAL STATEMENT. The Town Clerk, Mr George March, presented the following report on the hrougli finances at the Council meeting en Friday FINANC'D. 1. General Account.—At the commencement of the financial year the debit balance on this account was £12,279 2s 9d, and the expenditure during the year exceeded the receipts by £3272 13s, thus increasing the debit to £15,551 15s 9d. Including the operations on the water supply, shown under Separate Account No. 1, these receipts for the year totalled £27,020 10s 2d, against an expenditure of £30,293 3s 2d. T append herewith a statement dated 15th April, 1912, of the actual receipts and expenditure as compared with the amounts estimated. This was submitted to the Council on 10th April. Opera House.—The revenue from Idlings has been a record, and amounts to £llOs 15s, whilst the total expenditure was £705 15s lid, which latter sum includes the payments of £2OO tor interest and £BO for sinking fund. The profit on the year's operations was £459 19s Id.

Gas Works.—The balance to the credit of this account at Ist April, 1911, wu, £2157 Ids fir., of which sum £2OOO was transferred to the general account. Out of the revenue the following amounts were expended in providing for new plant Mains and services and meters, £2057 19s fid ; new plant, £BBI 15s 7d ; coal conveyors, £lß7l Ills Id: coal stores, £757 18s 8d; total, £OIB2 9s Hid. Hitherto the Council lias provided loan money to meet the payments tor extensions to plant, hut as none was available during the year this sum (£OIB2 9s Kid) had to be drawn from the revenue, resulting in the account showing a debit balance of £l9lO 8s Bd. Hut for the expenditure on plant, the account would have been in credit at the close of the year to the extent of £1230 Is 2d.

Tramways.- -The result of the third year's workings of the tramways j-how-:, that the debit balance of £263 11s 7d ha--

been converted into a credit of £9O 10s sd. showing that the receipts exceed the expenditure by £3OO ss. TEMPORARY LOANS. At the beginning of the year the deposits in hand at 1 per cent, were £11,895 Is sd, and the Council received during the year £11,379 10s Od at 4 per cent, and £17,471 8s lid at 31 per rent. At the 3tst March last the amounts in hand weiv £4864 13s fid and £10,075, on which the interest payable is 1 and 3) per cent, respectively.. Tlio total interest paid on these deposits was £752 2s lOd, and the Council has during the year effected a saving of £203 on this means of borrowing. LOANS. The following are the amounts of the moneys received and expended on account of the various loans;Gas loan £15,000, received £IOOO, spent £982 4s sd, loan completed. £11,500, nil; £152 Is 9(1. Tramways £35,000, £24,000; £20,922 15s Od. St. John's loan, £5000; £4014 17s 2d; loan completed. Avamoho loan, £6000; £4728 16s. Durietown, £2000; £2483 9s 9il. 229.000. £13,000; £7806 fis lid. Hridgc loan, £7751 4s lOd: £7962 16s 9d. Totals —Received, £58,751 4s Kid ; spent, £49,053 Jls 3d. The total receipts and expenditure for the twelve months has been as follow's: - - General account, reeeip.ts £27,020 10,, 2d; expenditure £30.293-3s 2d. Gasworks, £27,597: £30,001 3s 2d. Tramways, £10,554 13s (id; £10,194 8s Gd. Contractors’ deposits, £1996: £1350. Peat Park trust, £125 17s 9d: £llO 13;s. Sreeial rale £55,000 loan, £3113 16s 2d: £3038 2s 7d. Special rate £29,000 loan, £BB6 0s Id; £778 18s Gd. Special rate £29,000 loan, £532 16s 9d; £173 4s 3d. Special rate St. John’s, £lB6 11s; £ll7 14s.

Special rate Aramoho, £126 9s 9d; £92 11s 'fid. Snecial rate Durietown, nil; £l-1 fis Hi. Various loans. £58,751 4s lOd; £49,053 11s 3d. Temporary’ loans, £28,851 os sd; £25,896 13s Id. Totals—Receipts, £159,742 9s 2d; expenditure, £153,030 12s fid. PUBLIC DEBT. The following statement shows the public debt of the Borough as at 31st March, 1912, and tho sinking fund accrued in respeet of each loan: Loan Accrued Debt. Silking Fund Due Ist November, 1914. £ £ s. d. 55.000 Consolidated 7021 0 7 16.000 General Purposes 3621 9 It ll,5f)0 General Purposes 973 16 2 30.000 Gas Works 6158 17 7 15.000 Gas Works 1412 7 6 70.000 Water Supply 2628 0 4 4600 Opera House 160 10 8 Due Ist October, 1922. 10.000 Gas Works 625 14 9 12.000 Gas Works 679 12 0 Due Ist March, 1928. 40.000 Tramw'ays 1877 1 7 5000 Tramways 231 16 10 24.000 Tramways £292,500 £25,390 7 11 GOVERNMENT LOANS, 36J YEARS. £ £ s. d. 601)0 St. John’s 6000 Aramoho 2000 Durietown 13.000 Gcncrcal purposes 3000 Bridge loan £322,500 £25,390 7 11

VALUATION. The annual value of the rateable property of the Borough for the rating year 1912-13 as compared with that of the past year, is as follows: District. 1911-12 1912-13 Inc. £ £ £ Old Borough ... 107,663 111,866 4203 Aramoho 10,651 10,967 316 Durictown 6257 6556 299 St. John’s 7587 7898 311 ,£132,158 £137,287 £5129 ACCIDENT RISK. The amount of wages paid upon which the Council would have paid premiums, had insurance been effected, and the amount of claims actually paid, shows a net saving to the ratepayers of £346 5s odd. Claims. £ s. d. General Dept., wages 17,500 at 31s, £271 5s Od 37 1 1 Gas Works Dept., 6950 at 19s, £66 0s 6d 29 4 0 Tramwav Dept., 6200 at 255, 255. *£77 10* 2 5 0 £6B 10 1