Feilding Borough Finances

Manawatu Times, Volume LIV, Issue 7286, 13 October 1933, Page 3

Feilding Borough Finances

HALT-YEARLY FIGURES RECEIPTS FULLY MAINTAINED An outstanding feature of the treasurer’s financial statement of the Feilding Borough for the half-year ended September 30, which was presented at last evening’s meeting of the council, was that the receipts under revenue accounts closely balanced with those for the same period last year. This reveals that the town, with all its services, is holding its own despite the difficult times through which the country is passing. Certainly a pleasing feature of the receipts is the fact that current rate payments are up on those for tho same period las;, year, while payments on account o£ rate arrears exceed last year’s figures by over £2OO. The abattoir account receipts for the period under reviewtotalled £1.150 as against £1027 for the same period last year. These increases just about offset tho decreases 'which have been- suffered under certain heads, notably, the licenses and fees account, which last year produced £715 as against £629 this year. At September 30 last year tho Borough Council received £36-1 as subsidy on rates, but this year the amount to hand was £206. Also in the first six months of last year tho council had the benefit of £-16 made on Sydney exchange to help its receipts, but has nothing to show on this score this year. Generally the revenue accounts are in a satisfactory condition, the receipts for tho halfyear totalling £l7lO 10s 7d, as against £4743 10s Sd' for the same period last year. On the expenditure side of tho revenue accounts the comparative figures reveal an increase in current expenditure of just over £SOO, nearly £7OO of which is made up of additional payments on account of interest and sinking funds. The abattoir account shows an increased expenditure which is in sympathy with the increased revenue. More was spent on street maintenance during the first half of the current year. An item for election expenses amounting to £S3 adds to the total, which for the six months amounted to £10,616 Is 4d, os against £9739 15s od for the same period last year. The bank balance reveals a net debit of £4379 Ss Sd, as against £2964 ISs Sd as at September 30, 1932. The figures in connection with the rate account set out that the total rates levied last year amounted to £14,872 13s 3d, as against £14,492 13s 7d for the current year, while collections as at September 30, 1932, totalled £1314 19s Id, as against £I3S3 7s 10d for the first six months of the current year. Discussing the treasurer’s statement, the Mayor (Mr C. E. Taylor) recalled that, the council when considering its estimates had budgeted for a deficit. The council had commenced the year with a lesser amount of cash than last year—a matter of between £SOO and £6OO. Another’ point was that between £6OO and £7OO of the interest and sinking fund charges was not an actual debit, as it was subject to adjustment. Further, the council had hoped to reimburse its revenue account of a sum of £2OO advanced in connection with the repayment loan of £2500, but it had not been possible to adjust this before September 30. On the figures in tho treasurer’s statement it- would appear that the council hau. actually gone back £I4OO, but. this was not so, sinco the items mentioned represented that sum. The position therefore was that the council was holding its own. Further to the receipts in revenue accounts the Mayor touched upon the reduction in tho general rate subsidy, which he felt was an injustice. . This loss came about through a fall in the rate revenue, which in turn was due to a reduction in the general rate as well as the revaluation of properties that had taken place. The Mayor did not think that these factors should influence a reduction in rate subsidy of £l5B. It was poor recompense to the council to have its efforts to assist ratepayers rewarded by a. drastic cut in the rate subsidy. Mr Taylor did not consider it equitable and felt that tho council could make out a, strong case to tho Government for the reinstatement of tho cut, which, of course, was governed by statutory legislation.

On the motion of (tho Mayor it was agreed that tho matter be taken up with tho member for Oroua by the town clerk and himsoll.