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HEAD 7 - WATER REVENUE
Estimate 1968-69
Revised estimate 1967-68
Approved estimate 1967-68
Actual revenue 1966-67
$74,508,000
65,308,000
67,288,000
70,449,556
The revised estimate for 1967-68 shows a shortfall of $1,980,000 mainly as the result of this year's water restrictions. The estimate for 1968-69 exceeds that for 1967-68 by $7,220,000 in the expectation of a 24-hour supply throughout the year with water from Plover Cove. In 1967-68 fees for the installation of meters and for testing meters will be less than estimated, but they are expected to show an increase in 1968-69 following the installation of more meters and because an amendment to the Waterworks Ordinance which will prescribe statutory meter installation fees instead of the present cost plus supervision charges is proposed.
HEAD 8 - POST OFFICE
Estimate 1968-69
Revised estimate 1967-68 Approved estimate 1967-68
Actual revenue 1966-67
$101,985,000
99,175,400
92,436,000
96,888,351
The revised estimate for 1967-68 represents an increase of $6,739,400 over the approved estimate for the year. Of this increase $2,500,000 is expected to come from parcel traffic; $1,500,000 from increased use of postage meters by business houses; $2,500,000 from increased sales of stamps; and $800,000 from Telecommunication Licences which were previously accounted for under Head 4 Subhead 1. These increases are offset by a decrease of $1,000,000 in transit charges for surface mails due to triennial statistical adjustments having been made in the previous year.
A further increase of $2,809,600 over the revised estimate for 1967-68 is estimated for 1968-69
as the use of the Post Office services continues to expand.
A new Subhead for the collection of Radio Dealers and other Licences ($850,000) and Tele- vision Receivers Licences ($700,000) has been created under Head 4 for 1968-69. Radio Dealers and other Licences collected in 1967-68 are being credited to Subhead 10 of Head 8.
HEAD 9. · KAI TAK AIRPORT AND AIR SERVICES
Estimate 1968-69
Revised estimate 1967-68
Approved estimate 1967-68
Actual revenue 1966-67
$37,294,000
33,234,000
27,894,000
27,941,645
The revised estimate for 1967-68 shows an increase of $5,340,000 over the approved figure and for 1968-69 revenue is expected to grow by a further $4,060,000. The continued growth of air traffic is expected to produce significant increases in Aircraft landing fees, Aircraft parking fees and Passenger service charges. New agreements and additional rented space are expected to increase the revenue from Airport concessions and rents for both the current year and 1968-69.
HEAD 10 - KOWLOON-CANTON RAILWAY
Estimate 1968-69
Revised estimate 1967-68 Approved estimate 1967-68 Actual revenue 1966-67
$16,116,500
11,939,900
16,500,000
15,402,445
The revised estimate for 1967-68 is $4,560,100 less than the approved figure. The decrease is mainly due to the substantial drop in goods traffic and less people travelling to and from China during the first half of 1967. However, in the second half of the year more goods have arrived by rail and revenue from this traffic and from passenger services is improving. The indications are that traffic will return to normal next year and the over-all estimate for 1968-69 is only slightly down on the 1967-68 approved estimate.
HEAD 11 ·REVENUE FROM LANDS, INTEREST, RENTS, ETC.
Estimate 1968-69
$168,928,000
Revised estimate 1967-68
170,198,800
168,873,000
158,577,752
Approved estimate 1967-68
Actual revenue 1966-67
The revised estimate for 1967-68 shows an increase of $1,325,800 but the 1968-69 estimate is approximately the same as the approved 1967-68 estimate. The following subheads are responsible for the variations:-
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