[From Manx Quarterly, #3 November 1907]
There has been published in grey book form the abstract of the accounts of the Borough of Douglas for the year ended 31st March, 1907. The Town Clerk (Mr A. Robertson) is responsible for the abstract, and its preparation reflects great credit upon him and the Deputy Town Clerk (Mr A. B. Cuthbertson) and the Town Hall staff of accountants.
The abstract first deals with the rate account. The rateable value of property within the borough is £157,252 4s 3d, an increase on last year of £1,281 lls 8d. The total amount produced by rates is as follows:-Borough rate (including public water rate), at 2s lld in the pound, £21,615 12s 8d; library rate, at ld in the pound, £617 10s 5d; making a total of £22,223 3s Id. The arrears are Borough rate, £357 15s 3d; library rate, £10 4s 5d, making a total of £367 19s 8d, which is estimated to produce about £280. There is, therefore, an estimated loss of £87 19s 8d; and the total amount estimated to be --roduced is £22,513 3s ld. It will thus be seen that the total rate at 3s in the pound produces £22,513 3s 1d, and that, therefore, a penny rate will produce about £625 7s 3½d, as against £618 12s 7½d last year. There is an increase in the rates on property un-occupied and exempt from rates, but this is due to the total rates being 3s in the £, as against 2s 9d last year. Had the rate been the same as last year, there would have been a considerable decrease under this head.
The unrecovered rates will amount to 7 19s 8d, or about 7s 92d in every £100 collectable. The total amount of arrears the previous year was £235 7s 9d, and estimated unrecovered rates 285 7s 9d.
The ordinary revenue, apart from balances from last year, amounted to £33,628 10s 1½d, as against £30,631 7s 10d in 1906. The receipts from private improvements, the Noble Baths, and the Percy Nevill Trust, brought the total to £36,379 5s 0½d, as compared with £32,526 19s 2½d in the preceding year.
The extraordinary or capital receipts amounted to £15,700.
The ordinary expenditure for the year amounted to £35,803 0s 5d, as compared with £34,650 14s 2d in the previous year. The extraordinary expenditure amounted to £14,239 10s 5d.
There was a balance of receipts over expenditure amounting to £512 16s 11d for the year, but there was a deficiency in the previous year of £491 9s 6½d, which leaves £21 7s 5d.
During the year £3,000 was authorised and borrowed for private improvement works, to be repaid in ten years or sooner out of the monies when recovered. A special account for this has been opened, and the private streets and lanes yet to be formed in the added area will be charged to this account. The works carried out during the year have not been charged to this special account, as this would have necessitated another borrowing for the works yet to be carried out in the near future. The sinking fund on this sum for the last years has been charged on the general revenue.
The total receipts were £306 13s 9d, compared with £295 18s in the previous year. The total expenditure was £243 18s 4d, compared with £421 0s 3d in the preceding year. There is a balance of £62 15s 5d to go towards interest and sinking fund. In the preceding year there was a deficiency in working expenses of £125 2s 3d.
The receipts from the Borough Cemetery for the year amounted to £274 5s, as compared with £259 9s ld in the previous year. The expenditure this year is £205 7s 5d, and for the year ending March, 1906, it was £185 7s 11d. The balance applicable to interest and sinking fund (the annual charge for which is £419) this year is £68 17s 7d, last year it was £74 1s 2d. The capital expenditure on com-pleting the planting and laying out charged to revenue amounts this year to £26 13s.
The market revenue amounted to £956 169 8½d, in the preceding year it was £938 14s 7d. The total expenditure was £498 9s 2d, and the payments for interest and sinking fund £768 is 2d, making a total of £1,266 10s 4d. There is, therefore, a deficiency of £309 13s 71d to be met out of rates. In the previous year the deficiency was only £186 4s 6d.
The receipts from the baths to March 31st, 1907, amounted to £631 6s 4d, and the expenditure to £468 3s 1d. The large swimming bath was opened on August 2nd, 1906, and the private baths later.
The library revenue was £645 13s 5d, and the expenditure £637 9s 3d. Last year's balance was £98 8s 6d - this year the balance is £106 12s 8d.
The revenue was £13,978 14s 10d, as compared with £13,087 7s 8d; the expenditure for interest and sinking fund, £11,491 6s 11d; and on general maintenance, stores, etc., £2,465 3s 11d ; making a total of £13,956 10s 10d. Last year the interest and sinking fund cost £11,262 15s 9d, and the other charges £2,413 19s 8d, making a total of £13,676 15s 5d. The result of the year's working is a deficiency of £65 16s 5d. The deficiency brought from the preceding years is £1,444 6s 11d, the total deficiency being £1,510 3s 4d, which is carried forward.
The receipts on the horse section amounted this year to £17,342 10s ld, compared with £15,791 the previous year. The receipts from the cable section were £4,192 2s 9d, compared with £4,023 lls 6d -the total being £21,534 12s 10d, as compared with £19,815 0s 9d.
The expenditure on the horse section was £8,672 2s 4d, as compared with £8,152 19s 6d, and on the cable section £4,854 10s 6d. The total expenditure was thus £13,643 15s 9d, against 213,007 10s.
There is a net profit for the twelve months, £2,697 4s 7d, after paying royalty (£2,350), and interest and sinking fund. £2,000 is set aside for depreciation and renewals fund and £300 added to the insurance fund. The balance at credit of profit and loss at 31st March, 1905, was £768 9s 9d. This year, after the above provisions, £1,165 14s 4d is carried forward.
The assets of the Corporation in the general department are £127,815 3s ld; Percy Nevill Trust, £325; water department, £284,673 6s 3d; tramways department, £59,941 149 11d; town improvement, £22,848 15s 3d; making a total of £495,603 19s 6d.
The liabilities are: General department, £258,165 7s 22d; water department, £259,983 13s 8d - tramways department, £50,287 2s 5d, town improvement fund, £76,400 12s 41d-making a total of £644,836 15s 8d. The excess of liabilities over assets is £149,232 16s 2d. The excess of liabilities over assets last year was £758,080 4s 3½d. There is, therefore, a decrease of £8,847 8s 71 d. During the year, £1,934 10s 7d was expended in connection with the sewerage scheme and other improvements, which are not of a remunerative character, and are, therefore, not taken as assets. £243 7s 10d was also written off as depreciation on cemetery and hopper barge accounts. The large provision that is annually being made for the redemption of debt, the profit on the tramway (after paying all working expenses, royalty, and interest, and sinking fund charges), have all contributed to the large and satisfactory decrease in the excess of liabilities over assets.
The revenue receipts, including contributions from the general account, have been £1,894, whilst the expenditure on revenue account-has been £1,986 9s 11d. This includes the outstanding interest on purchase money of property for over 13 years, and £13 5s 10d legal expenses on property settled this year. The difference has been added to the capital cost of the scheme. The contribution of £1,800 from the general account, and £94 rents of property will in future meet the annual interest on the cost of the scheme and the overdraft, but the overdraft itself cannot be discharged until the land in Lord-street and Heywood-place is sold.
The total deficiency to date on this account, after taking credit for the usual contribution of £250 from the Borough Fund, is £320 0s 8d, In 1906 the total deficiency was £354 11s 7d. The return on capital for 1907 (after deducting rates, taxes, insurance, repairs, etc.) is £3 6s 1½,d per cent.
DOUGLAS RAILWAY STATION
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Any comments, errors or omissions
gratefully received MNB
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