A (1) 2
while another factor was the absence of a large part of the staff, their salaries being charged to War Expenditure under Miscellaneous Services.
5. The expenditure for the year exceeded the revenue by a sum of $1,390,950; with the result that the surplus balance decreased to $4,920,187.
6. The following statement shows the Liabilities and Assets on the 31st December, 1919 :-
LIABILITIES $ C. ASSETS $ C. Deposits not Available, 1,369,266 59 Subsidiary Coins, 844,316 93 Postal Agencies, 74,320 32 Advances, other items, 659,987 90 Rice, 956,839 13 Imprest, 12,488 25 Shipping Control A/c., 2,216,204 11 House Service A/c., 4,402 14 Crown Agents' Deposit Account, 375,308 64 Suspense Account, 15 00 Unallocated Stores, Overdraft, Bank, 1,179,928 37 (P. W. D.), 205,368 91 Overdraft, Crown Agents' Current A/c., 35,220 25 Unallocated Stores, (Railway), 207,519 94 Total Liabilities, 4,874,954 64 Coal Account, 706,137 84 Investment Account, 5,192,772 86 Balance, 4,920,187 90 Total $9,165,142 54 Total $9,165,142 54 Total $9,165,142 547. The following table shows the Revenue and Expenditure during the last five years:-
1915 1916 1917 1918 1919 Revenue $11,786,107 $13,833,386 $15,058,105 $15,149,268 $16,524,975 Expenditure $11,079,914 $14,090,828 $16,252,172 $17,915,925 $17,915,925 Surplus $2,753,472 Deficit $967,277 $2,413,076 $3,363,161 $1,390,950PUBLIC DEBT.
8. The Inscribed Stock Loans of 1893 and 1906 amount to £1,485,732 and the Sinking Fund now stands at £310,469 being £26,866 more than the amount at credit of that fund at the end of 1918.
The local Loan (under Ordinance No. 12 of 1916) stands at $3,000,000 with a Sinking Fund of $224,720 and £80,628 sterling.