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The Cyclopedia of New Zealand [Canterbury Provincial District]

Revenue And Expenditure

Revenue And Expenditure.

The city council obtains most of its revenue from rates. It levies a general rate of 1s 7d in the £, a charitable aid rate of 2d, a special rate of 2d, a Drainage Board rate of 1s, and a Waimakariri River Board rate of 3/4d. The council's total receipts for the year ending the 31st of March, 1901, amounted to £71,240, and the total expenditure to £64,572. The rates are adjusted on the annual value of property in the city area, which amounts to £236,798. The total loans raised by the corporation amount to £121,140. Of this sum, £18,500 has been devoted to sanitary works and the destructor, which has been erected recently; £25,000 to public works, and £6,000 to the municipal offices. Interest on £31,000 of the gross amount is provided for out of the general rates. It has also been decided to raise a special loan of £15,000 for the erection of abattoirs. On the 31st of March, 1901, the assets of the council amounted to £8,498, exclusive of sinking funds (£42,525), freehold land, buildings, and reserves, and the liabilities to £9,795, exclusive of loans.