A (1) 2
The expenditure decreased $206,583 on account of less opium purchased while the Harbour Department saved $160,705 on Special Expenditure by partial postponement of the scheme for acquisition of buoys in the Harbour. Other decreases were mostly due to savings on Personal Emoluments.
5. There was a saving of a sum of $389,903 under the vote for Public Works Extraordinary, due to works being delayed or deferred, such as the West Point Reservoir $221,525, and Quarters for Government Officers $51,000. There were savings on numerous smaller votes while however the vote for the Tytam Water Works was exceeded by $100,700 on account of greater progress.
6. The expenditure for the year exceeded the revenue by a sum of $3,363,161; with the result that the credit balance of $2,910,474 at the end of 1914 decreased to a deficit of $452,687 at the end of 1915.
A comparison however of ordinary revenue and expenditure might show more correctly the financial circumstances of the Colony.
The revenue for 1915 less Land Sales came to $11,691,829. The total expenditure was $15,149,268 and from this should be deducted the following Extraordinary Expenditure:---
Public Works, Extraordinary, $1,839,882
Railway Special Expenditure, $3,062,388
$4,902,270
leaving Ordinary Expenditure at $10,246,998. The deficit on Ordinary Working of the Colony is therefore transformed into a surplus of $1,444,831. In addition to this it might fairly be contended that the figures for Acquisition of Moorings in the Harbour and Redemption of Subsidiary Coins amounting to, in all, $1,345,352 should also be classed as Extraordinary Expenditure. If this be conceded the surplus would come to $2,790,183.
7. The following statement shows the Liabilities and Assets on the 31st December, 1915:-
LIABILITIES ASSETS Deposits not Available $443,498.88 Subsidiary Coins $750,152.82 House Service $3,950.97 Advances $98,834.35 Postal Agencies in China $11,861.73 Imprest $601.50 Overdraft, Bank... $2,397,698.38 Crown Agents' Deposit $1,137,391.30 Overdraft, Crown Agents $7,722.30 Unallocated Stores, P.W.D. $314,584.44 Unallocated Stores ! Railway, $109,818.46 Suspense Account $662.55 Total Liabilities... $2,864,732.26 Total Assets... $2,412,045.42 Debit Balance... $452,686.84 Total... $2,864,732.26 Total... $2,864,732.26