B—l7

Details of the year's operations are summarized in the following table, together with particulars of the previous year for comparative purposes 1946-47. 1947-48. £ '. £ £ £ Applications .. .. .. ... 9,843,543 8,324,579 Previously referred back .. .. 879,350 2,023,100 £10,722,893 £10,347,679 Sanctioned — New Loans* .. .. .. 7,289,436 6,022,034 Renewal loans .. .. .. 1,006,430 1,459,880 Referred back .. .. ..2,427,027 2,865,765 £10,722,893 : £10,347,679 1946-47 1947-48. *Mew loans — £ £ Waterworks .. .. .. 155,465 923,730 Drainage and sewerage .. .. 386,120 525,080 Roads and bridges (counties) .. .. 42,629 187,850 Street works (boroughs)- .. .. 369,050 873,850 Municipal buildings, offices, <fec. .. 86,315 70,218 Recreational facilities .. .. 312,480 39,100 Transport .. .. .. .. 1,018,000 54,840 Housing— £ £ Permanent .. .. .. 341,017 86,110 Transit .. .. .. 147,850 53,500 488,867 139,610 Electric supply—Power Boards .. .. .. 1,011,500 1,344,200 Other .. .. .. .. 460,400 1,471,900 1,344,200 Hospital works .. .. .. 1,502,005 1,499,500 Harbour-works .. .. .. 1,065,000 110,000 Fire Board loans .. .. .. 39,500 3,700 Gasworks .. .. .. .. 32,000 83,000 Abattoirs .. .. .. .. 107,900 29,060 Education authorities .. .. 17.425 29,690 Machinery .. .. .. .. 54,730 49,650 Miscellaneous .. .. .. 140,050 42,106 Mood damage or protection works .. .. 16,850 £7,289,436 £6,022,034 Approval was given under section 47, Finance Act, 1929, to the diversion of the unexpended balances of loans amounting to £8,675, and the use of capital moneys amounting to £43,171 was approved under section 20, Finance Act, 1934. Loans of Hospital Boards and Electric-power Boards were again very substantial and accounted for approximately half the borrowing of all local authorities. The high cost of building is one of the factors contributing to the large amount required by Hospital Boards, whilst the call for additional ward accommodation arising from the greater use of hospital beds is also important. As a result of an accelerated housing programme and industrial development, Electric-power Boards are required to extend and increase the carrying-capacity of lines despite the greatly increased cost of the imported material —e.g., cables. The establishment of the Rural Electrical Reticulation Council with funds at its disposal for subsidizing uneconomic rural lines has enabled some Boards to undertake such extensions. During the year the Board has felt it necessary to discuss with the Health Department the trend of some features of hospital development, and with the State Hydro-electric Department the relationship between the power shortage and Electric-power Board extensions into new areas. Water-supply and street works show a substantial increase, largely resulting from major schemes in both categories in Auckland, estimated to cost £1,100,000. The amount referred back (£2,865,765) is much above the average, and consists largely of Hospital Board and Electric-power Board proposals in respect of which the Board desired further information. The majority of these proposals were subsequently sanctioned. A number of water-supply and sewerage proposals were referred back as the Board was of the opinion that the cost was beyond the financial resources of the local authorities concerned.

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