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! Colwyn Bay's Finances.

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Colwyn Bay's Finances. GOVERNMENT AUDITOR'S ANNUAL REPORT. UNSATISFACTORY POSITION." Mr. William Griffith, in his annual report on the finances of the Colwyn Bay and Col- wyn District Council, says:- I g to repoit that I nave completed the audit of the accounts for the year ended 31s1. Maich last of your Council. The following stateunent sets out the posi- tion of the several funds under the control of the Council:- DISTRICT FUND. r o A Due to the Treasurer 4564 13 '8 to Sundry Creditors. 44 17 I I to Depositors 34 o o to Light Railway Coy. 211 19 4 t-> S2-" 10 11 Due from County Council 1918 19 2 Frontagers in re- spect of Private Street Works 474 4 6 Sundry Debtors 388 18 11 From Ratepayers in respect of General District Rate 256 7 9 Allotment Holders 56 19 o ————— 3045 10 1 Deficiency in District Fund r 2190 0 10 GAS FUND. Due to the Treasurer 3871 I2 6 to Sundry Creditors. 1209 18 II to Depositors 1012 14 II 6094 6 4 Due from Consumers 3^09 7 II Value of Stock in Store.. 8S 19 5 4088 7 4 Deficiency 2005 19 0 ELECTRIC LIGHT FUND, Due to the Treasurer 2989 10 7 to Sundry Creditors.. 29 16 9 to Depositors. 199 10 o 3218- 17 4 Due from Consumers 1185 9 2 Value of Stock in Store 16.. 8 8 1351 17 10 Deficiency 1866 19 6 The balance of Z32s at 31st March, 1909, on the £17,000 Gas Loan Account remained to the credit of that account at 31st March, 1910, being the amount which had been estimated as required for the provision of a Livesley Washer ([185) and a new Weigh- bridge \/14c)), and which had not been ex- pended up to the 31st March last. The estimate (9th November, 1905) of proposed crpital expenditure in connection with Gas- works extension, amounting to 616,675, had been exceeded by the sum of ^.774 15s. 2d. at the 31st March, 1909. This excess ex- penditure was chiefly :n respect of Coal Store and Engine House, Coal Elevator, and Cookers and Meters. On the 20th January, 1910, a sum of £777 5s. id. was received from the London and North-western Rail- way Co., being the difference between the amount paid by the Council to the Railway Co. in August, 1907, towards the cost of constructing a railway siding at the Gas- 'works, and the actual cost ascertained after the completion of the work. The amount entered in the estimate above referred to in respect of the railway siding was [2)S, but the amount which the Company requir- ed the Council to deposit with them was f3 282 10s. During the year a further sum of £182 is. 9d. was expended in respect of items included in the 1905 estimate for the loan of [17,000, and also a further sum of [ii7 6s. od. in respect of Meters and Cook- ers. The account in reference to the £ \"],ooo loan, therefore, stood as iellows:- r I X- s. a. Overdraft at 31st March. 1909 744 15 a Expended during 1909-1910. 777 6 0 <• .1 •• J8l. I 9 1734 2 11 Received from Railway Company 777 S 1 Overdraft at 31st March, 1910 956 17 10 1734 2 11 Application will, I understand, be made to the Local Government Boajrd for power to borrow a sum in respect of the above shown balance, and the further amount ex- pended subsequently to the 31st March, 1910. There was a balance in hand of ri,6ii 5s. 2d. on the account relating to the gas loan of £ 4,000 borrowed in 1908 for Gas Mains Extensions. No loans were raised drring the year igog-io for [the purpose of Electricity Sup- ply. The total capital expenditure during the year was ^847 3s. 3d., and there was a bal- ance in the hands of the Treasurer of £ 1,238 16s. 4d. and the Electric Light Cap- ital Account at 31st March, 1910. _i The following statement shows the bal- ances on the several accounts with the Treasurer at 31st March, igio:- I OVERDRAFTS. Suspense Loan Accounts. 4 s. d. Street Improvements 210 5 9 Sewer Construction 232 16 5 Promenade Extension 2269 1 9 N ew Drainage Scheme 7645 16 0 Town's Depot 135 5 II Gasworks. 956 17 10 11,450 3 8 Revenue Accounts General. 4564 13 8 Electricity 2989 10 7 Gas 3871 12 6 11,425 16 9 22,876 o 5 BALANCES IN HAND. Loan Accounts. £ s. d. Sewerage 520 3 6 Subway •• • • 333 »3 ° Water Main 1154 13 6 Promenade Improve- ment 270 '7 6 Street Improvements bob 15 4 Electricity 138 -0 4 Gasworks 1936 5 2 —————— 6153 4 4 NeLt ON-erdraft 16,722 16 1 It will be observed that the overdraft on the Revenue Accounts has increased from £ 10,044 7s- 9d- at 3isrt March, 1909, to ZII,452 16s. 9d. at 31st March, 1910, and the aggregate deficiency in the General Revenue, after taking into account out- standing debits credits, has increased from £ 4,676 iSs. 7d. to £G,062 19s. 4d. during the same period. Tn r:onnecition with this matter I would refer the Council to the re- -e marks made by me in my last report with reference to the unsatisfactory position of their finances. I am glad to learn that the Council in May last increased the General District Rate from 5s. iod. to 6s. id. in the £ and I trust that they will make further provision for the extinction of the overdraft within a reasonable period. I found it necessary again to disallow the interest amounting to Z630 14s. 3d. on the overdrafts, and to charge the amount upon Messrs. David Gamble, George Bevan and Hugh Hughes, who authorised the making of the illegal pavrnent. the suggestions made by me at my pre- vious audit are, I find, being carried out. I desire to remand the Council that accu- rate account should be taken of all stock in hand at 31st March, 1911, in order that the new stock books may be opened with a correct statement of all goods in store. I have to express my appreciation of sev- eral improvements in the keeping of the ac- counts introduced during the current year. The following are some of the new account books which I think members of the Coun- ci I will find very useful-Loans ledger, which contains the complete history of each loan borrowed since 1887. The creditors' ledger, containing personal accounts with ail persons from whom the Council buys goods, and the general cash book, which will enable the Council at the close of each month readily to ascertain the correct bal- ances on the several revenue and capital accounts. I think it is very desirable that the ac- counts in respect of fixed water charges should be made out and delivered early in the financial year. I was informed that the accounts in respect of such charges for the current year had not been made out at the date of the audit, 22nd November. I would also draw attention to the fact that th eaccounts due at Christmas, 1909, of the gas and electric rentals and uncollected at 3ist March, 1910, amounted to Z758 and Z224 respectively. I would also suggest that the present system of selling coke, &c., on credit should be limited as much as possible. It involves much unnecessary labour in book-keeping, and leads to a cer- tain amount of loss For further particulars of the receipts and payments under their several headings I beg to refer the Council to the financial state- ment signed by me and delivered to the Clerk.

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