A (1) 2
These salaries were in the first instance charged against expenditure to safeguard the pension rights of the officers concerned. From the date of the passing of the new Pension Ordinance, 24th June 1932, the salaries are being charged against the respective loan works on which the officers are employed. The second item represents the appreciation which has taken place in the market value of the sterling funds invested on account of surplus balances. These funds were written down on 31st December 1931 by £10,005. 98. 11d. or $144,986. The rise in trustee stocks during the year brought up the value of £15,799.6s.3d. or $238,794 and this amount had to be written on to revenue in order to show the stocks in the balance sheet at the market price ruling on 31st December 1932. To obtain a fair comparison of the normal revenue for 1932 with that of 1931, these two amounts should be deducted when the figures would be $33,088,049 for 1932 and $33,146,724 for 1931. The former figure compares with $33,152,674, which was the revised estimate of revenue for 1932. If allowance, therefore, is made for these credits, the normal revenue for 1932 of $33,088,049 would compare with the expenditure for 1932 of $32,050,283.
4. The largest individual item of revenue is derived from the assessment tax, the sum of $6,332,066 being collected. This represents 18.9% of the total revenue or 19.7% of the revenue exclusive of land sales.
5. In the following table, the actual revenue for the year 1932 is compared with the revenue of the previous year and with the estimate for 1932.
Heads of Revenue Actual 1931 Estimates 1932 Actual 1932 Duties $6,206,720.52 $7,890,000 $6,597,852.02 Port & Harbour Dues $813,922.44 $793,000 $11,859.55 Licences and Internal Revenue not otherwise specified $15,790,939.99 $16,234,110 $16,503,769.86 Fees of Court or Office, Payments for specific purposes, and Reimbursements in Aid $2,151,527.47 $2,035,938.60 $1,095,098.77 Post Office $2,122,100 $2,296,227.87 $2,340,000 Kowloon-Canton Railway $1,964,598.10 $1,100,000 $1,295,789.20 Rent of Government Property, Land and Houses $1,432,057.64 $1,407,300 $1,527,965.37 Interest $224,460.46 $231,957.90 $150,000 Miscellaneous Receipts $313,252.04 $205,000 $867,748.88 Total (exclusive of Land Sales) $29,982,623.79 $32,241,510 $32,179,057.89 Land Sales, (Premia on New Leases) $3,164,099.94 $1,750,000 $1,370,658.40 Total $33,146,723.73 $33,991,510 $33,549,716.29A (1) 2
These salaries were in the first instance charged against expenditure to safeguard the pension rights of the officers. concerned. From the date of the passing of the new Pension Ordinance, 24th June 1932, the salaries are being charged against the respective loan works on which the officers are employed. The second item represents the appreciation which has taken place in the market value of the sterling funds invested on account of surplus balances. These funds were written down on 31st December 1931 by £10,005. 98. 11d. or $144,986. The rise in trustee stocks during the year brought up the value of £15,799.6s.3d. or $238,794 and this amount had to be written on to revenue in order to show the stocks in the balance sheet at the market price ruling on 31st December 1932 To obtain a fair comparison of the normal revenue for 1932 with that of 1931 these two amounts should be deducted when the figures would be $33,088,049 for 1932 and $33,146,724 for 1931. The former figure compares with $33,152,674 which was the revised estimate of revenue for 1932. If allowance therefore is made for these credits the normal revenue for 1932 of $33,088,049 would compare with the expenditure for 1932 of $32,050,283.
4. The largest individual item of revenue is derived from the assessment tax, the sum of $6,332,066 being collected. This represents 18.9% of the total revenue or 19.7% of the revenue exclusive of land sales.
5. In the following table the actual revenue for the year 1932 is compared with the revenue of the previous year and with the estimate for 1932.
Heads of Revenue.
Actual 1931
Estimates Actual
1932
1932
Duties.......
Port & Harbour Dues
Licences and Internal Revenue not
otherwise specified
Fees of Court or Office, Payments for specific purposes, and Reimburse- ments in Aid....
Post Office....................
Kowloon-Canton Railway
Rent of Government Property, Land
and Houses
Interest
Miscellaneous Receipts
Total (exclusive of Land Sales)........... Land Sales, (Premia on New Leases)
Total......
$
$
$ C.
6,206,720,52 813.922.44
7,890.000
793,000
6,597,852,02 $11,859.55
15,790,939.99 16,234,110 16.503.769.86
2 151.527.47) 2.035.938.60; 1,095,098.77
2.122,100 2.296,227.87 2.340,000 1,964,598.10 1,100,000 1,295,789.20
1,432.057.64
1,407,300
1.527.965 37
224.460.46| 231,957.90
150.000
313.252.04
205,000
867.748.88
29.982.623.79)
3,164,099 94
32,241,510 32.179.057.89
1.750.000
1,370,658.40
33,146,723.73 33,991,510 33,549,716.29
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