Revenue
2.37. The total revenue collected by the department in the year 1970-71 amounted to $380,254,000 compared with $238,305,000 in the previous year. The following table sets out the main items of revenue and gives the percentage variations compared with 1969-70.
1969-70$ 1970-71
$ Percentage Increase Crown Lands Sales 101,213,000 212,295,000 +109.75% Crown Lands Fees 5,438,000 5,347,000 1.67% Government Properties 5,467,000 6,475,000 +18.44% Water Account 89,346,000 91,761,000 +2.70% Quarry Products 3,109,000 6,144,000 +97.62% Building Ordinance (Balcony fees and
Building Contractors' Registration fees, etc.) 1,712,000 1,690,000 1.29% Sale of Sand 8,105,000 12,723,000 +56.98% Services Capital Works 4,274,000 14,530,000 +239.96% Services Maintenance Charges 6,407,000 8,738,000 +36.38% Works executed on private accounts... 3,147,000 3,797,000 +20.65% Departmental services and supervision 2,696,000 4,878,000 +80.93% Other receipts 7,391,000 11,876,000 +60.68% 238,305,000 380,254,000
The very substantial increase in income from the sale of Crown Land is further evidence of the revival in the local property market. The sale of quarry products, as previously recorded, produced almost twice as much revenue as in the previous year, and the sale of sand, for which this department became responsible during the year, also increased by almost 57% over the last financial year. The increase in revenue under both items of primary building products resulted from the raising of selling prices plus an increase in demand.
2.38. The revenue derived from 'Services Capital Works' and 'Services Maintenance Charges' represents reimbursements to the Hong Kong Government which are offset by corresponding sums of expenditure incurred by this department in discharging its responsibilities under the Defence Costs Agreement. Similarly, revenue from 'Works executed on private accounts', which continues to rise, is also offset by expenditure of an equivalent sum.
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