CO129-431 - Governor Sir May - 1916 [1-2] — Page 246

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the form was subsequently raised eitner by the lozial Audit or the Colonial office it did noti“

scar to the Colonial Government that it was not strictly in accord

-ance with the Financial Instructions,

3.

244

After the recent criticism by the late Mr. E.

A. Hewett in Legislative Council it was decided to revise the

fem for September last so as to show te reimbursement in a foot-

-note as formerly although it should be noted that Kr. Hewett'a

criticism was directed against the non-appearance of the total

loans of the Colony in the list of Liabilities as well as that of

the Sinking Fund among the Assets, and not particularly against

the matter under discussion,

4.

The amount of reimbursement now due since the

repayment of the last instalment of the uchang Loan in October

last stands at $2,790,6vã, being the equivalent of £250,000 to be

२ rai and under authority of the Loan Ordinance hol 1 or 1913, and the statement of Estimated AB» •■ and Liabilities,

the

Ao on the 31st. December, 1915, be modified accoгam¿ly to show a depit balance of 1927,865, although the necessary foot-note would have shown the balance to be a credit one of the amount given in the published statement,

But I anticipate that when the accounts for

the year 1915 are closed the position will be much more favo; fable for it is already found that the revenue exceeds the revised

the

Estimate by $297,000 while expenditure will probably be less tnan the revised katimate by 128,000. The debit balance will therefore be reduced to about 5505,000.

5.

Turning new to the financial posi fion during the current year it is necessary to revise to some extent the figures which were submitted to the Legislative Council. The Retimates contemplate a deficit of $473,784, but a sum of only~~ 158,000 has been entered for the maintausuce of the prisoners of i war. Their renoval from the Colony will, however, result in a reduction in the apte for "other items of expenditure”, „490, about $12,000, saking a total of $70,000. It is estimated

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