Appendix A (1)
REPORT ON THE FINANCE FOR THE YEAR 1931.
The Revenue for the year amounted to $33,146,724 and the Expenditure was $31,160,774. Revenue therefore exceeded Expenditure by $1,985,950. The approved estimated revenue for the year was $27,488,759 while the revised figure was $31,204,368, an increase of $3,715,609. The actual revenue therefore exceeded the revised estimate by $1,942,356 of which $877,000 was due to Land Sales and $480,000 to the increased scale of Liquor and Tobacco Duties imposed in September. The approved estimate of expenditure for the year was shown as $29,787,855 and the revised estimate amounted to $31,152,500 or $8,274 below the actual expenditure.
2. The following statement shows the Revenue and Expenditure for each of the years of the last decade:-
Year. Revenue. Expenditure. Surplus. Deficit. 1922... $22,291,065 $18,563,003 $3,728,062 1923... $24,783,763 $21,571,905 $3,211,858 1924... $24,209,640 $26,726,423 $2,516,783 1925... $23,244,366 $28,266,818 $5,022,452 1926... $21,131,582 $23,524,716 $2,393,134 1927... $21,344,536 $20,845,065 $499,471 1928... $24,968,399 $21,230,242 $3,738,157 1929... $23,554,475 $21,983,257 $1,571,218 1930... $27,818,478 $28,119,646 $301,168 1931... $33,146,724 $31,160,774 $1,985,950REVENUE.
3. The largest individual item of revenue is derived from the assessment tax, the sum of $5,814,017 being collected in 1931. This represents 17.5% of the total revenue or 19.4% of the revenue exclusive of land sales. Stamp duties (including estate duties) follow with $3,679,088,