[FINANCE COMMITTEE MEETING HELD AT GOODISON PARK WEDNESDAY 23RD JANUARY 1957] Present:- Mr. J. C. Sharp (Chair) and Messrs N. W. Coffey, and T. C. Nuttall, together with the Secretary. Income Tax. A letter was read from the Inland Revenue authorities requesting an early payment of our tax liabilities, which amounted to approximately £7,000 in all. It was agreed to send £1,700 immediately to the Collector of the West District and to pay the Schedule 'A' liability in other districts immediately amounting to approximately £200 and to remit to the Collector of the West District a further £1,700 on the first of March, first of April, and the balance on the first of May. Rates. A letter from the City Treasurer was read requesting payment of the outstanding amount for rates and it was agreed to send him a cheque for £622/10/- to bring our payment up to the amount of last year's rates, pending the result of our appeal against the new assessment. Glass Insurance It was agreed to insure the glass in the new offices etc., in accordance with the schedule submitted at an annual premium of £8/10/-, with the Royal Insurance Co. Finance. The Finance Committee viewed the financial position with a great deal of apprehension and are firmly of opinion that outside financial assistance must be secured to finance the Floodlighting project. With this in mind the Committee strongly recommends that immediate application be made to the Capital Issues Committee for permission to raise a loan of £40,000 as the limit of borrowing without sanction is £10,000. If approved it is recommended that the Board empower the Finance Committee to proceed with the application as they deem advisable. R. E. Searle