Exent fyms
29787858 Ex 27488759 Res. 2299099
Defint
- 9 -
The bulk of the money is being spent on revenue
76
producing works and I am of opinion that interest and sinking
fund charges on that portion of the loan raised for increasing
and reorganising the water supply of the Colony should be
borne by water users.
The time is now approaching when the basis of
charges should be altered, so that all water is metered
and paid for as used. It is the most economical method
from a Waterworks Engineer's point of view as it tends
to conserve the supply.
At the moment the charges for water are
insufficient to meet interest charges and upkeep and
the contemplated expenditure of a further $13,500,000
during the next five years will make the burden worse.
The Revenue and Expenditure for 1931 being
estimated at $27,480,000 and $29,780,000 respectively the
deficit on the year's working had the dollar remained at
ls. 4d would have been $2,300,000. It was contemplated
however that the payment of sterling salaries at ls.ôd and
at ls. 4d would have saved approximately $400,000 thus
reducing the deficit on the years working to $1,900,000.
Reckoning exchange at is the additional sum required for
sterling commitments amounts to $3,368,000 and the following
steps have been taken to dispose of this and reduce the
deficit to $1,900,000 as originally contemplated.
(a) Expenditure. The payment of Government servants
sterling salaries on the principle of at ls. 6d and at
the current rate effects a reduction of $1,500,000.
excision or postponement of certain works may effect a
further reduction of as much as $1,000,000.
$2,500,000.
Total
The
(b)