# Memorandum on the Estimates for 1902
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On the 31st December, 1900, the Assets of the Colony showed a balance over Liabilities of $1,100,785.69, which does not include the value of silver at the Mint at the end of 1900 amounting to $40,415.33. This balance, it is anticipated, will be still further increased by about $359,395.94, the estimated balance of Revenue over Expenditure during the year 1901, which will thus increase the Assets to a total of $1,499,497.45.
The Loan Account on the 31st December last stood as follows:
Cr.
Inscribed Stock Loan at $341,799
· 15.1 interest to be paid off on the 15th April, 1943.
By Sinking Fund $13,485.13
As to expenditure, a reference to the Estimates will show that in 1900 the actual expenditure exclusive of Public Works Extraordinary amounted to $3,155,341.24; that the approved Estimate for 1901 is $3,267,932.29; and that the estimated expenditure for 1902 is $3,781,833.58, showing an estimated increase of $493,708.29.
As to Public Works Extraordinary, the actual expenditure for 1900 was $473,305.89; the approved estimate for 1901 is $735,338.00; and the Estimate for 1902 is $797,318.68, showing an estimated increase over 1901 of $70,979.83.
Turning to the Estimates for the year 1902, it will be seen that the Estimated Revenue amounts to $4,805,985, and the Estimated Expenditure to $4,559,955.98, showing a surplus of Estimated Revenue over Estimated Expenditure of $246,029.02. As the Estimates have been framed with caution, there is every reason to anticipate that the amount estimated will be realised, in which case the Revenue for 1902 will be the largest in the history of this Colony. The revised Estimate for 1901 amounts to $4,259,820.00, so that the Estimated Revenue for 1902 shows an increase over the revised Estimate for 1901 of $346,165.
The Memorandum accompanying the Estimates for 1902 explains in detail the reasons for the anticipated increases and decreases in the various items of Revenue. 1/11½ has been taken as the rate of exchange for Sterling payments.
The items which it is estimated will yield a considerable increase are as follows:
Assessed Taxes - an estimated increase of $130,000 owing to the new Assessment which has been completed and to the increase in the number of new buildings.
Carriage Licenses - an estimated increase of $41,000, owing to the ...