237
The high 1965-66 revised figure for Interest is due to higher initial balances than were an- ticipated and higher yields from those balances, partially consequent upon some changes in their composition. The revised Buildings and furniture figure includes an abnormal item of $3,780,054 for 3 years rent in respect of buildings at Kai Tak Airport while the 1966-67 estimate anticipates more rent from properties on lease. The increase of $10,600,000 in Resettlement Rents for 1966-67 assumes a uniform rate of expansion in the accommodation becoming available during the year. The 1965-66 estimate for advances on Resettlement Accommodation was only a token figure.
Estimate 1966-67
Revised estimate 1965-66
Approved estimate 1965-66
—
HEAD 12 - LAND SALES
$ 67,481,000
65,590,000
191,550,000
132,976,109
Actual revenue 1964-65
The short-fall in revenue in both the revised estimate for 1965-66 and the estimate for 1966-67 as compared with the approved 1965-66 estimate is due to a recession in land and property dealings.
Head 84.
HEAD 13 — WORLD REFUGEE YEAR GRANTS
Estimate 1966-67
Revised estimate 1965-66
Approved estimate 1965-66
Actual revenue 1964-65
$ 486,000
2,429,000
1,475,000
1,239,115
These receipts represent reimbursements of expenditure on the projects set out in Expenditure
HEAD 14 — CONTRIBUTIONS TOWARDS PROJECTS
Estimate 1966-67
Revised estimate 1965-66
Approved estimate 1965-66
$8,629,000
4,221,000
4,275,000
3,825,443
Actual revenue 1964-65
The receipts under this Head represent donations towards expenditure on the works listed.
COLONIAL DEVELOPMENT AND WELFARE GRANTS
Estimate 1966-67
Revised estimate 1965-66
Approved estimate 1965-66
Actual revenue 1964-65
$
586,000
168,000
1,358,984
The receipts under this Head represent proportionate re-imbursement of expenditure on the schemes concerned. The grants will be fully utilized in 1965-66. No provision therefore is made for 1966-67.