CO129-282 - Acting Governor Major Gen Black - 1898 [3-4] — Page 73

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timated by Mr. Ormsby in his report dated 24 November last

as derivable from the sale of reclamation sites within the

next four years.

6. Omitting the value of the Reclamation Ma-

rine site but retaining the value of the unused portion of

the present site as a set off, the cost of scheme A is

$409,220 and the cost of scheme B is $369,220.

7. As at present estimated therefore the mo-

ney wanted for the erection of new Govt. Offices may be

roughly put down at $400,000 which is to be provided for

during the two years which will probably be required for

building operations: but as these operations will not begin

before,say 1st. January 1899, the cost of the offices will be

extended over three years from date and will involve an ex-

penditure of $153,000 a year.

8. The revenue for 1897 inclusive of land

sales amounted to $2,686,914 and the expenditure to

$2,641,409 which gives an excess of revenue over expendi-

ture amounting to $45,505. If premia on land sales are ex-

cluded, the expenditure shews an excess over revenue of

$178,995.

9. The revenue from all sources for 1898 is

at $2,694,867, an estimate which was made with caution and

which, if the actual receipts for 1897 are any guide,proba-

bly is below the mark. On the other hand the estimate of

expenditure