I-FINANCES.
The revenue for the year amounted to $24,783,763 being $6,216,493 more than the estimate and $2,492,698 more than the revenue for the previous year.
Compared with the returns for 1922 there were increases under all the heads except Kowloon-Canton Railway.
The expenditure amounted to a total of $21,571,905 inclusive of a sum of $4,716,602 spent on Public Works Extraordinary.
The detailed figures for 1923 are set out in the following statements:-
HEADS OF REVENUE Light Dues Light Dues, Special Assessment C. 137,455.61 Licences and Internal Revenue not otherwise specified 151,097.65 16,123,980.81 Fees of Court or Office, Payments for specific purposes, and Reimbursements in Aid 1,601,281.37 Post Office 761,119.97 Kowloon-Canton Railway 474,721.78 Rent of Government Property, Land, and Houses 1,183,846.53 Interest 577,986.73 Miscellaneous Receipts 283,474.91 TOTAL, (Ordinary) $21,294,965.36 Land Sales, (Premia on New Leases) 3,488,797.17 TOTAL $24,783,762.53The total expenditure brought to account amounted to $21,571,905 being $1,011,930 less than the estimate, and $3,008,902 more than the expenditure in 1922. Compared with the estimates there were increases under 15 heads as against 12 heads where there were decreases. The excess amounting to $1,285,783 under Miscellaneous Services was due to:-
University $ C. 176,000.00 Compensation in respect of Yaumati Ferry service $5,000.00 Publicity Bureau 30,000.00 Swatow Typhoon Relief Fund 29,998.00 War Memorial Nursing Home 200,000.00 British Empire Exhibition, H.K. Section 250,000.00 Loss on Subsidiary Coins 199,480.00 Japanese Earthquake H.K. Relief Fund 250,000.00 $1,220,478.00Military Expenditure exceeded the estimate by $240,331 due to increase in revenue. Public Works Extraordinary was less by $2,528,898 than the amount estimated and Education Department decreased $73,905 on account of unpaid Building Grants.