Appendix A (1)
REPORT ON THE FINANCES FOR THE YEAR 1924.
REVENUE.
The total revenue for the year amounted to $24,209,640 being $2,839,706 more than the estimate and $574,123 less than the revenue in 1923. Compared with that year there were increases under all the heads except Kowloon Canton Railway and Land Sales.
2. The principal sub-heads showing excess over the estimate were as follows:-
(a) Carriage, Chair, &c. Licences ... $45,966
(b) Fines ... 63,160
(c) Forfeitures ... 126,768
(d) Liquor Licences ... 32,410
(e) Opium Monopoly ... 1,647,043
(f) Stamp Duties ... 501,677
(g) Tobacco Duties ... 207,105
(h) Postage ... 54,928
(i) K. C. R. Coaching. Local traffic ... 162,943
(j) Condemned Stores ... 87,442
(k) Land Sales ... 409,236
(l) Interest ... 71,810
The increases were due (a), (d) to more licences issued, (b) to more fines, (c) to more forfeitures, (e), (k) underestimation, (g), (h) increased sales, (f) large estate duties, (i) expansion of through local traffic, (j) sale of Shanghai Post Office, and (l) increased balances.
3. The principal deficits compared with the Estimates were :—
(a) Assessed Taxes ... $119,813
(b) Liquor Duties ... 20,787
(c) China Companies Fees ... 27,240
(d) Medical Examination of Emigrants ... 23,684
(e) Water Excess Supply and Meter Rents ... 59,460
(f) Coaching Through Traffic ... 448,538
(g) Goods Through Traffic ... 39,540
(h) Leased Lands ... 45,303
EXPENDITURE.
4. The total expenditure brought to account amounted to $26,726,428 being $1,801,761 more than the estimate, and $5,154,524 more than the expenditure in 1923.