Appendix A (1)
REPORT ON THE FINANCES FOR THE YEAR 1928.
REVENUE.
The total revenue for the year amounted to $21,131,582 being $236,161 less than the estimate and $2,112,784 less than the revenue in 1925.
Compared with that year there were decreases under all the heads except Post Office, Rent of Government Property, Kowloon Canton Railway and Miscellaneous Receipts of which the first two show slight increases, the third has increased by approximately 25%, and the last named has been almost trebled.
2. The principal sub-heads showing excess over the estimate were as follows:
EXCESS.
(a) Assessed Taxes $136,668
(b) Fines 34,169
(c) Forfeitures 55,749
(d) Court Fees 27,302
(e) Medical Examination of Emigrants 23,957
(f) K.C.R. Passenger Service (Home Line) 114,704
(g) Lands not Leased (Permits) 23,292
(h) Leased Lands (Crown Rents) 51,585
(i) Other Miscellaneous Receipts 1,980,361
(j) Royalty payable by Hong Kong Telephone Co., Ltd. 25,429
The above increases were chiefly due to the numbers of Chinese returning to the Colony in the latter part of the year as regards (a), (f), (g), (h). The large increase in other Miscellaneous Receipts is accounted for by the transfer to Revenue of accumulated Profits on Exchange and Profits on the Sale of Investments. The Telephone Royalty is a new source of Revenue and was not included in the 1926 Estimates.
Appendix A (1)
REPORT ON THE FINANCES FOR THE YEAR 1928.
REVENUE.
The total revenue for the year amounted to $21,131,582 being $236,161 less than the estimate and $2,112,784 less than the revenue in 1925.
Compared with that year there were decreases under all the heads except Post Office, Rent of Government Property, Kowloon Canton Railway and Miscellaneous Receipts of which the first two show slight increases, the third has increased by approximately 25%, and the last named has been almost trebled.
2. The principal sub-heads showing excess over the estimate were as follows:
EXCESS.
(a) Assessed Taxes
$ 136,668
(b) Fines
34,169
(c) Foreitures
55,749
(d) Court Fees
27,302
(c) Medical Examination of
Emigrants
23,957
(f) K.C.R. Passenger Service
(Home Line)
114,704
(9) Lands not Leased (Permits)
23,292
(h) Leased Lands (Crown Rents)...
51,585
1,980,361
25.429
(i) Other Miscellaneous Receipts (j) Royalty payable by Hong
Kong Telephone Co., Ltd..
The above increases were chiefly due to the numbers of Chinese returning to the Colony in the latter part of the year as regards (a), (f),
(f), (g),
(g), (h). The large increase in other Miscellaneous Receipts is accounted for by the transfer to Revenue of accumulated Profits on Exchange and Profits on the Sale of Investments. The Telephone Royalty is a new source of Revenue and was not included in the 1926 Estimates.
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