A (1) 2
Military Expenditure exceeded the estimate by $240,331 due to increase in revenue.
Expenditure in the Education Department was less than the estimate by $73,905 on account of unpaid Building Grants and other savings. $2,528,898 less than the estimate was spent on P. W. D. as the programme of works could not be completely carried out. Certain transit charges for the years 1920-22 were recovered by the Post Office during the year which reduced the expenditure in that department by $324,379.
5. The revenue for the year exceeded the expenditure by a sum of $3,211,858.
6. The following statement shows the Liabilities and Assets on the 31st December, 1923—
LIABILITIES.
$ c. ASSETS. S. C. Postal Agencies, Deposits not Available, 1,209,014.25 Subsidiary Coins, 25,259.76 Building Loans, 1,097,352.91 Advances, 157,353.21 997,700.00 Imprest, 3,097.84 Shipping Control A/c., 2,220,493.91 House Service A/c., 22,334.81 Crown Agents' De- 1,755.00 posit Account, 9,496,620.09* Unallocated Stores, (P. W. D.), 366,004.92 Unallocated Stores, (Railway), 247,893.56 Coal Account, 74,740.74 Total Liabilities, 3,456,522.92 Investment Account, 6,420,211.23† Balance at Banks, Crown Agents' Cur- rent Account, 542,669.24 2,039.60 Balance, + 15,971,495.23 Total...... $19,428,018.15 Total, $19,428,018.15 89,000 0s. 0d. £1,009,046 11s. 1d.Cash lent at Interest,
Cash on deposit,
£
Invested as follows:-
Value of Stock. Actual Cost. Market Value. Hongkong 6% War Loan, 1921-23.... $120,000.00 $120,000.00 $120,000.00 4% Funding Loan, 1960-1990.. £885,000 0s. 0d. £662,991 14s. 9d. £730,625 0s. 0d. (87) Queensland 4¾% Stock 1920-1925, £18,000 0s. 0d. £17,697 5s. 0d. £17,640 0s. 0d. (98) Queensland 4% Stock £23,500 0s. 0d. £23,381 6s. 3d. £23,265 0s. 0d. (99) Queensland 4¾% Bond 1920-1925,... £25,000 0s. 0d. £24,391 12s. 6d. £24,500 0s. 0d. (98)