7. The following table shows the Revenue and Expenditure during the last five years:-
1923 $ 1924 $ 1925 $ 1926 $ 1927 $ Revenue 24,783,763 24,209,640 23,244,365 21,131,582 21,344,536 Expenditure 21,571,905 26,726,428 28,266,817 23,524,716 20,845,065 Surplus Deficit 3,211,858 -2,516,788 -5,022,452 -2,393,134 499,471PUBLIC DEBT.
8. The inscribed Stock Loans of 1893 and 1906 amounted to £1,485,733 and the Sinking Fund stood at £587,205 being £53,418 more than the amount at credit of that fund at the end of 1926.
The Local 6% War Loan (Ord. No. 12 of 1916) of $5,000,000 was fully repaid during the year, $2,100,000 on May 1st and $900,000 on November 1st, and there remained a surplus in the Sinking Fund of $158,134 which was transferred to Revenue.
The first part of the 6% Public Works Loan 1927 (Ord. No. 14 of 1927) was issued locally at par on November 1st, 1927. Applications, which were invited from the public, amounted to $11,711,000 and Bonds were allotted to the value of $3,000,000.
The first contribution to the Sinking Fund becomes due on October 31st, 1928.
GENERAL REMARKS.
9. The total receipts and payments in the Treasury books during the year were $52,331,639 and $51,511,012 respectively. The figures not accounted for under revenue and expenditure relate to transactions under various heads such as Deposits, Advances, Subsidiary Coin, Unallocated Stores, etc.
10. Subsidiary coins in stock on 31st December were as follows:-
50 cents $ 10,200 20 cents 3,960 10 cents 1,667,676 5 cents 248,424 Copper 26,153 $1,956,413