C.ID Financial
1.0.A.G. Conf.
૨૧:૩૪.
Tos. preliminary survey of financial situation
The effect of the present proposals is
shown in the following table:-
2
Surplus or
Deficit $
Surplus of Assets at end of year.
$
1936 Appr. Est.
2,926, 303
9,661,366
Rev.
Est.
- 1,004,030
11,383,639
1937 Est.
—
3,498,910
7,884, 729
1936 Actual
1937 Rev. Est.
1938 Est.
529,331
12,917,000
926,000
11,991,000
9,000,000 (approx.)
(approx)- 3,000,000
It will be seen that, though a deficit is
expected for the year 1937 and a considerably larger
one for the year 1938, the surplus of assets at 31.12.38
is still estimated at (Hong Kong $9,000,000, i.e. it
will then be considerably higher than it would have
been at 31.12.37 if the 1937 Estimates had been
fulfilled in their anticipations. of this surplus
nearly $12,000,000 is in liquid form under the heading
of Cash Balances and Fixed Deposits. (The total under
this head on 31.12.35 was $11,607,204).
This surplus is not unsatisfactory for a
commercial centre not dependent on any one crop as its
source of revenue, and in a period of normal trade.
would
I think there be no objection to be found with the
0.A.G.'s proposals. He is satisfied that, in view of
the many necessary services that had been drastically
curtailed recently, a reduction of surplus assets, even
to the figure of $9,000,000, would be justifiable.
There