A (2) 8
PUBLIC WORKS LOAN ACCOUNT.
36. The allocation of expenditure on the works authorized in the Schedule of Public Works Loan Ordinance No. 14 of 1927 is as follows:-
Head 1. Waterworks Development $3,500,000
Head 2. Aerodrome and Harbour Development. 1,500,000
Since the inception of the Loan, the expenditure incurred up to the 31st December, 1929, is as follows:-
Head 1. $2,790,227.88
Head 2. 2,525,891.67
The sum of £70,000 received from the Imperial Government as part of the total contribution of £100,000, was expended during the year on the development of the Aerodrome site, and is included in the figure of $2,109,161.99 appearing against Head 2, sub-head 2, as the total expenditure on this sub-head up to the 31st December, 1929.
A Statement showing the expenditure from Loan Funds at the termination of the financial year 1929 is enclosed, and from which it will be observed that the total expenditure on Head 2 exceeded the approved appropriation from Loan Funds by $1,025,891.67. After the contribution of £70,000 ($692,783.50) has been deducted there remains an excess of $333,108.17 over the allocation. This amount was met during the financial year from the unexpended balance on Head 1 pending an Advance from the surplus balances of the Colony. I would, however, inform you that the excess expenditure, together with the amount which was estimated to be expended during the financial year 1930, was covered by an Advance Warrant authorizing the sum to be advanced from the surplus balances of the Colony during the present financial year. The amount advanced from the surplus balances of the Colony will be reimbursed from a future loan. Legislative authority for the procedure I have mentioned was duly asked for and obtained.
The accounts for the year 1929 have been examined and found to be well kept.
TRADE LOAN ACCOUNT.
37. The Accounts for 1929 have been examined and found to be in order,
- A (2) 8
PUBLIC WORKS LOAN ACCOUNT.
36. The allocation of expenditure on the works authorized in the Schedule of Public Works Loan Ordinance No. 14 of 1927 is as follows:-
Head 1.
Waterworks Development
Head 2.
$3,500,000
Aerodrome and Harbour Development. 1,500,000
Since the inception of the Loan, the expenditure incurred up to the 31st December, 1929, is as follows:-
Head 1.
Head 2.
$2,790,227.88 2,525,891.67
The sum of £70,000 received from the Imperial Government as part of the total contribution of £100,000, was expended during the year on the development of the Aerodrome site, and is included in the figure of $2,109,161.99 appearing against Head 2, sub-head 2, as the total expenditure on this sub-head up to the 31st December, 1929.
A Statement showing the expenditure from Loan Funds at the termination of the financial year 1929 is enclosed, and from which it will be observed that the total expenditure on Head 2 exceeded the approved appropriation from Loan Funds by $1,025,891.67. After the contribution of £70,000 ($692,783.50) has been deducted there remains an excess of $333,108.17 over the allocation. This amount was met during the financial year from the unexpended balance on Head 1 pending an Advance from the surplus balances of the Colony. I would, however, inform you that the excess expenditure, together with the amount which was estimated to be expended during the finan- cial year 1930, was covered by an Advance Warrant authorizing the sum to be advanced from the surplus balances of the Colony during the present financial year. The amount advanced from the surplus balances of the Colony will be reimbursed from a future loan. Legislative authority for the procedure I have men- tioned was duly asked for and obtained.
The accounts for the year 1929 have been examined and found to be well kept.
TRADE LOAN ACCOUNT.
37. The Accounts for 1929 have been examined and found to be in order,
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