CO129-529-1 Diocesan Boys' School and Orphanage- appeal for money 2-1-1931 - 10-5-1932 — Page 50

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a revision in the Grant-in-Aid system which is contemplated

and Budgeted for this year would have provided substantial

aid in this direction, but, contrary to anticipations, the

additional payment to the Diocesan Boys' School (a matter of

less than $300.-) will be so small as to be practically

negligible.

(30) Nevertheless, while the School Committee feel the

pressing need of an immediate increase in the Government Grant,

they are content to await what they feel, eventually, to be

inevitable, that is a general revision of the system of Grants,

so long as they can obtain freedom from the present load of the

loan of $175,000.- plus the Interest and Sinking Fund charges

already referred to.

(31) It is therefore the intention to continue the

School until such continuation becomes entirely impossible for

financial reasons, a position which will rapidly be reached

unless relief is forthcoming.

(32) To summarise the position, what the School needs

imperatively if it is to survive, is freedom from such charges

for Interest and Sinking Fund as it has had to provide in the

past and found itself unable to do for the first time in the

latter half of 1930.

(33) Commencing next year (1932) and for the years 1933,

1934 and 1935 the School has to provide for payments of $2,500.-,

$2,500.-, $2,500.- and $1,900.- respectively to the Military

Authorities in respect of certain work to the School buildings

completed by the Military Authorities and taken over by the

School on these terms. More than this the School is unable to

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(34) The School has thus reached a crisis. Its continuation

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