- 6
From this total howover must be deducted
a sum of $444,000 which is being advanced this yoar from surplus balances to mcct an expenditure on Loan Works beyond that provided in the Loan Ordinance to which I shall refer later, leaving an estimated liquid balance of $4,722,910 avail- ablo for 1929.
In framing our Estimates of Rovonuc for 1929 wo have given duo consideration to the sudden expansion this year and have placed our
revenue for next year without any change in taxa- tion at $22,278,600, the details of which arc
given in the printed estimates.
This amount is
$395,810 less than our revised estimate for the
curront year but in these uncertain times wo have not felt justifiod in assuming that the sudden increase of this year will to more than main- tained, while, whon the immediato domand for land has been satisfied, it is possible there may ovon be a slight falling off under the head of land sales.
Wo thus anticipate that to meet next year's expendituro, cxclusive of Loan Works, wo shall havo availablo a revenue of $22,278,600 and a liquid Surplus Balance of $4,722, 910 making a total of $27,001,510. The Colonial Secretary will shortly lay before you the Estimates of Expenditure for 1929 which amount to a sum of $24,799,650 and excood by $2,616,505 the original ostimates of oxpendituro for the current year. This estimatc shows a deficit as against tho revenue of $2,521,050 but will still leave us an estimated balanco of assots over liabilitios of
$3,985, 979,
20
Page 20Page 21