Borough Finances

Waipukurau Press, Volume XIV, Issue 45, 19 April 1930, Page 3

Borough Finances

TOWN CLERK’S REPORT. ANNUAL POSITION OF ACCOUNTS. The following annual report was submitted by the town clerk, Mr H. M. Tansley at Monday night’s meetof the Waipukurau Borough Council:— The various accounts are as fol lows: —General account (cr.) £834 16s, theatre revenue account (dr.) £305 6s Id, cemetery account (cr.) £l9 7/8, water extension loan account (cr.) £1928 11/6, sewer advance £ll9O 5/2, footpaths loan account (cr.) £lllO 11/3, housing loan account (cr.) £Bl3 19/6, contractors’ deposit account (cr.) £4 0, heavy traffic account (cr.) £375 9-4, street lighting rate account (dr.) £l6 1/10, hospital rate account (dr.) £l5 11/9, sanitary drainage loan rate account (dr.) £53, water extension loan rate account (dr.) £4 5/9, footpath loan rate account (cr.) £l6 16/7 . General Account: This account has come out with a substantial credit, £834 16/-; due firstly to some of the works projected last year not being carried out, viz., sealing Porangahau road, a saving in expenditure of £133 6/8, culverts Francis Drake street £6O, street name plates £2b, a saving of £7O on amount of work carried out on Goodger street sewer, and several small items over estimated. Against this on the debit side some items have been over spent or not estimated for amounting to approximately £lOO. On the receipt siae all items have either equalled the estimate or the collections have exceeded same. The proportion from heavy traffic fees was exceeded by £59, library subs, by £2O, building permits by £24, motor drivers by £27, garbage by £3O, w’hile from the sale of water, after allowing for interest charges on the loans and the water pumping and maintenance, there is a balance of £lB2. The balance in the general account; of course, includes credit balances for week to be carried out during the present financial year.

Theatre Revenue Account: This account shows a debit balance of £305 6/1. The estimated debit balance was £3 58 19/5. The amount estimated to be collected was £l4OO 10/- and the amount collected was £l4OB 13/9. The amount estimated to be expended was £1540 4/11 and the amount expended was £1494 15/4. By taking the amount collected in excess of the estimate together with the amount underspent it will be seen that there is a saving of £53 10/-x on the year’s workings. Water Extension Loan Account: This account has a suuscantial credit balance. The cost of the new pump has yet to be met, and there will probably be further extensions to the present reticulation and also new service connections. Footpaths Loan Account (£16,233): £lO,OOO of this loan has now been ■raised and the account shows a credit already been spent on footpath work balance of £1928 11/6, so £BOOO has including channelling, stormwater drainage, crossings, extensions and plant, etc.

» Rate Accounts: Three rate accounts appear in debit, but these debits are offset by the amount of their respective outstanding rates. Sewer Advance Loan Account .1400): There is x credit balance in this account of £lllO 11/3. This loan falls due on June 1, 1930, and there will be sufficient in hand from repayments on due date, plus sinking fund and the above credit balance to repay loan. General: With reference to maturing loans, I would point out that the Old Town Hall loan of £6 00 falls due on July 1, 1930. The accrued sinking fund as at 31/o/30 is £159 2/-. The council has sold one section for £lOO, and the amount to • find for this repayment of the loan on due date is approximately £341. It is suggested that this amount be met out of revenue this year and so avoid a small renewal loan. The remaining sections could be put up for public auction or tender, and so help to further reduce the amount to find. The report was adopted ‘ on the motion of Cr. G. Black and seconded by Cr. W. A. Chambers.