Appendix A (1).
REPORT ON THE FINANCES FOR THE YEAR 1917.
REVENUE.
The total revenue for the year amounted to $15,058,105 being $1,816,105 in excess of the estimate and $1,224,718 more than the revenue in 1916. Compared with that year there were increases under all the heads except Light Dues, Rent of Property, and Land Sales.
2. The principal sub-heads showing increases over the estimate are as follows:
(a) Special War Rate,....... $505,000
(b) Sunday Cargo Working Permits, $33,000
(c) Opium Monopoly, $637,500
(d) Stamp Duties, $392,000
(e) Salaries, British Postal Agencies, $26,000
(f) Interest, $62,700
(g) Miscellaneous Receipts, $50,400
The increases are due (a) and (e) to new items, (b) to the shortage of shipping, (c) to increased sales, (d) to more Probate Duty, (f) to large cash balances, and (g) to Bankrupt Estates being unclaimed, together with profit on House Service Account.
3. The principal decreases were:----
(a) Light Dues, $26,500
(b) Fines, $36,000
(c) Railway,... $11,700
(d) Land Sales, $38,985
Of these, (a) was due to the shortage of shipping, (b) to fewer cases, (c) to the unsettled condition of Kwangtung, and (d) to expectations of land development not having been realised.
EXPENDITURE.
4. The total expenditure brought to account amounted to $14,090,828, being $1,694,673 more than the estimate, and $3,010,913 more than the expenditure in 1916.
Compared with the estimates there were decreases under all heads except five. The excess amounting to $15,122 under Harbour Department was on account of purchase of buoys and repairs to launches.
Miscellaneous expenditure was larger by $2,648,500 on account of a contribution to the Imperial Government for war expenses and a contribution for the same purpose under Ordinance No. 18 of 1917. Public Works Extraordinary accounted for an extra sum of $67,435, while Military Expenditure exceeded by $42,788 on account of under-estimate of Revenue for 1916.
Appendix A (1).
REPORT ON THE FINANCES FOR THE YEAR 1917.
REVENUE.
The total revenue for the year amounted to $15,058,105 being $1,816,105 in excess of the estimate and $1,224,718 more than the revenue in 1916. Compared with that year there were increases under all the heads except Light Dues, Rent of Proprety, and Land Sales.
2. The principal sub-heads showing increases over the estimate are as follows:
(a) Special War Rate,.......
(b) Sunday Cargo Working Permits,
(e) Opium Monopoly,
(d) Stamp Duties,
(e) Salaries, British Postal Agencies,
(f) Interest,
() Miscellaneous Receipts,
$ 505,000
33,000
637,500
392,000
26,000
62,700
50,400
The increases are due (a) and (e) to new items, (b) to the shortage of shipping, (c) to increased sales, (d) to more Probate Duty, (f) to large cash balances, and (g) to Bankrupt Estates being unclaimed, together with profit on House Service Account.
3. The principal decreases were :----
(a) Light Dues,
(b) Fines,
(e) Railway,...
(d) Land Sales,
$26,500
36,000
11,700
38,985
Of these, (a) was due to the shortage of shipping, (b) to fewer casos, (e) to the unsettled condition of Kwangtung, and (d) to expectations of land development not having been realised.
EXPENDITURE.
4. The total expenditure brought to account amounted to $14,090,828, being $1,694,673 more than the estimate, and $3,010,913 more than the expenditure in 1916.
Compared with the estimates there were decreases under all heads except five. The excess amounting to $15,122 under Harbour Department was on account of purchase of buoys and repairs to launches.
Miscellaneous expenditure was larger by $2,648,500 on account of a contribution to the Imperial Government for war expenses and a contribution for the same purpose under Ordinance No. 18 of 1917. Public Works Extraordinary accounted for an extra sum of $67,435, while Military Expenditure exceeded by $42,788 on account of under-estimate of Revenue for 1916.
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