Appendix A (1).
REPORT ON THE FINANCES FOR THE YEAR 1915.
REVENUE.
The total revenue for the year amounted to $11,786,107 being $378,475 in excess of the estimate and $778,834 more than the revenue in 1914. Compared with that year there were increases under the heads Licences and Miscellaneous but decreases under all other heads.
2. The principal sub-heads showing an increase over the estimate are as follows:
(a) Sunday Cargo Working Permits.
(b) Other Miscellaneous Receipts,
(c) Opium Monopoly...
(d) Stamp Duties,
$ 25,250
15,870
701,877
130,934
The increase under (a) is due to the large increase in profits earned by shipping, (b) to profit on private works, (c) partly to increased price of prepared opium, and (d) to one large probate paid in September last.
3. The principal decreases were :-
(a) Assessed Taxes,
(b) Liquor Duties,
(c) Fines,
(d) Postage,
(e) Railway,
(f) Conservancy Contracts,
(g) Land Sales,
$ 31,897
88,425
24,879
31,542
118,903
24,073
111,722
Of these, (f) monthly payments were allowed to stand over owing to financial depression on the part of the Contractor, (c) was over-estimated, while the rest of the decreases are no doubt due to the war.
EXPENDITURE.
4. The total expenditure brought to account though not incurred solely on account of the year under review amounted to $15,149,268, being $2,662,497 over the estimate, and $4,393,043 more than the expenditure in 1914. Compared with the estimates there were decreases under 20 heads as against 5 heads where there were increases. The excess, amounting to $812,732, under Miscellaneous Services, was largely due to loss on subsidiary coins, of which coins to the face value of $5,900,000 were demonetized during the year causing an excess over the estimate of $488,057; and to expenditure on account of the war which was not estimated for ($253,030). It was decided to charge further expenditure on Railway Construction to General Account and subsequently also to abandon the raising of a Loan of £250,000 under Ordinance No. 8 of 1913 which together account for an excess of $3,062,388 under Special Expenditure Railway Department not estimated for, while the Charge on account of Public Debt was exceeded by $55,152 on account of Interest on Advances for Railway Construction. Military Expenditure was less than the estimate by $167,230. The Imports and Exports Department was...
Appendix A (1).
REPORT ON THE FINANCES FOR THE YEAR 1915.
REVENUE.
The total revenue for the year amounted to $11,786,107 being $378,475 in excess of the estimate and $778,834 more than the revenue in 1914. Compared with that year there were increases under the heads Licences and Miscellaneous but decreases under all other heads.
2. The principal sub-heads showing an increase over the estimate are as follows:
(a) Sunday Cargo Working Permits.
(b) Other Miscellaneous Receipts,
(c) Opium Monopoly...
(d) Stamp Duties,
$ 25,250
15,870
701,877
130,934
The increase under (a) is due to the large increase in profits earned by shipping, (b) to profit on private works, (c) partly to in- creased price of prepared opium, and (d) to one large probate paid in September last.
3. The principal decreases were :-
(a) Assessed Taxes,
(b) Liquor Duties,
(c) Fines,
(d) Postage,
(e) Railway,
(f) Conservancy Contracts,
(g) Land Sales,
$ 31,897
88,425
24,879
31,542
118,903
24,073
111,722
Of these, (f) monthly payments were allowed to stand over owing to financial depression on the part of the Contractor, (c) was over-estimated, while the rest of the decreases are no doubt due to the war.
EXPENDITURE.
4. The total expenditure brought to account though not incurred solely on account of the year under review amounted to $15,149,268, being $2,662,497 over the estimate, and $4,393,043 more than the expenditure in 1914. Compared with the estimates there were de- creases under 20 heads as against 5 heads where there were in- creases. The excess, amounting to $812,732, under Miscellaneous Services, was largely due to loss on subsidiary coins, of which coins to the face value of $5,900,000 were demonetized during the year causing an excess over the estimate of $488,057; and to expenditure on account of the war which was not estimated for ($253,030). It was decided to charge further expenditure on Railway Construction to General Account and subsequently also to abandon the raising of a Loan of £250,000 under Ordinance No. 8 of 1913 which together account for an excess of $3,062,388 under Special Expenditure Railway Department not estimated for, while the Charge on account of Public Debt was exceeded by $55,152 on account of Interest on Advances for Railway Construction. Military Expenditure was less than the estimate by $167,230. The Imports and Exports Depart-
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