Harbour Finance

Daily Telegraph (Napier), Volume 59, Issue 34, 12 March 1930, Page 8

Harbour Finance

LAST/YEAR'S FIGURES Income Exceeds Expenditiire By £6000 GENERAL ACCOUNT LESS. Figures relating to the financial position of the hoard up to the end of lts last financial year, which. ended on September 30, 19^9,, were placed before the meeting of the Napier Harbour Board to-day. The balauce-sheet__showed that, after starting the year with a credit balanee in the general account of £9057, the board finished it with. a credit of £6009. The chief receipts were : — Rents £7722, pilotage, port charges and harbour master's -fees £12,956, wliarfage. haulage, berthage, storage . and handling charges £50,427, the grand total being £83,933. The rrtain items under payments wero : — Transfers to sinking fund accounts £4654, transfers to interest_ accounts '£29,181, cargo labour, tallying, haulage and similar charges £7236, cargo consigning £3564, dredges and dredging £2742, Hardinge road protection £1141, office salaries £4639, pilot's department £3484, reclamation £5454. repairs and maintenance at inner harbour £1134, same at Breakwater £3055; reserves £1155. The grand total of exnenditure in the general account was £77,924, leaving a. credit balanee 0 of £6009. RECEIPTS AND EXPENDITURE. The statement- of receipts and expenditure for the year disclosed the following • totals under the various heads : — Expenditure. — Sinking fund expenditions £4654, interest on loans £31,838. mterest on overdraft £3, administration £8532, shipping facilities £4372, cargo handling £11,518, harbour works, wharves and railways £6073, Breakwater £370, reserves and roads £1238, planjb, and dredges £3897, harbour investigations £38, Public Bevenues Act £83, reciamations £310, harbour rats collection ,£24, loan redemption 1928 (expenses) £485, Royal Commission (1927, expenses) £88, sundries £36, allowanees £363, depreciation £5201. v" Iiicome. — Rents £7879, harbour de- " partment £13,121, wliarfage depart"inent £53,144, licenses £88, shingle £294, quarries £11, crauage £79, hiro u of plant, etc. £211, water supply to shipping £735, revgrsion to hoard of improvements on leaseholds £6343, eommission_ on rate collection £973, interest pn investments £2358, sundries £1. Tb'e excess of income over expenditure was thus £6109. THE BALANCE SHEET.' The balanee sheet showed an excess 0f assets over liabilities of £124,541. Chief items amongst the assets were : — Moneys on fixed deposit £36,100, current account at bank £1897, transfers due from. loan to general £3915, wharfage and harbour fees outstaudi ing £3840, harbour rates outstandipg £11,001, sinking fund accounts £13,848, inner harbour wharves £61,118, Breakwater wharves £29,520, Breakwater and railway £222,771, piers and approaches to inner harbour £22,987, dredges, launches, etc., £15,793, inner barhour embankment £62,888, endowments other' than reclamation £181,010, reclaimed lands £91,485. On the liability side the chief figures were: — Sundry creditors £2471; sinking fund reserve £13,848, loans £5-14,992, reserve accounts £114,484. The total cash assets were shown as £J 9.1.92 and the total cash liabilities as 1 £93 97.