Revenue
2.17. Revenue collected by the Department totalled $124,523,000 compared with $142,704,000 in the previous year. The following tabulation shows the main items and indicates the percentage variations over 1966-67. The substantial under-collections in respect of 'Crown Land Sales' and 'Balcony fees' reflect the continued depressed state of the real estate market.
1966-67 1967-68 Percentage Over Percentage Under Crown Lands Sales $42,413,000 $30,592,000 27.87 Crown Lands Fees $5,803,000 $6,217,000 7.13 Water Account $68,938,000 $66,544,000 3.47 Quarry Products $3,288,000 $3,387,000 3.01 Building Ordinance (Balcony fees and Building Contractor's registration fees, etc.) $2,707,000 $666,000 75.40 Other Receipts $19,555,000(1) $17,117,000(2) 12.46 Total $142,704,000 $124,523,000Note: (1) Includes $6,490,000 Reimbursements: 'Works executed on private accounts'. (2) Includes $3,792,000 Reimbursements: 'Works executed on private accounts'.
Works Executed on Private Account
Deposit Accounts
2.18. Private developers requiring roads and drainage works to be carried out by this Department, paid $2,242,975 on deposit during the year 1967-68. Completed works totalled $3,792,157, which was transferred to revenue and the balance of all deposit accounts as at 31st March, 1968 was $3,012,815. This is $1,549,181 less than the balance as at 31st March, 1967, which reflects the general slowing down in private development work.
Contractors' difficulties
2.19. The bank crisis in 1965 followed by civil disturbances in 1966 and 1967 have had a marked effect on a number of P.W.D. contractors. One major contractor went into liquidation and ten contracts were either re-entered or determined. In four separate cases judgement creditors sought and obtained a Garnishee Order against the Director of Public Works for a total of $42,599.84. The Department continued
Page 13
Revenue
2.17. Revenue collected by the Department totalled $124,523,000 compared with $142,704,000 in the previous year. The following tabula- tion shows the main items and indicates the percentage variations over 1966-67. The substantial under-collections in respect of 'Crown Land Sales' and 'Balcony fees' reflect the continued depressed state of the real estate market.
1966-67
1967-68
Percentage
Over
Under
$
$
Crown Lands Sales
42,413,000
30,592,000
27.87
Crown Lands Fees
5,803,000
6,217,000
7.13
wwwwww..co
Water Account
68,938,000
66,544,000
3.47
Quarry Products ...
3,288,000
3,387,000
3.01
Building Ordinance (Balcony fees
and Building Contractor's
registration fees, etc.)..
2,707,000
666,000
Other Receipts
19,555,000(1)
17,117,000(2)
75.40
12.46
142,704,000 124,523,000
Note: (1) Includes $6,490,000 Reimbursements: 'Works executed on private accounts'. (2) Includes $3,792,000 Reimbursements: 'Works executed on private accounts'.
Works Executed on Private Account
Deposit Accounts
2.18. Private developers requiring roads and drainage works to be carried out by this Department, paid $2,242,975 on deposit during the year 1967-68. Completed works totalled $3,792,157, which was trans- ferred to revenue and the balance of all deposit accounts as at 31st March, 1968 was $3,012,815. This is $1,549,181 less than the balance as at 31st March, 1967, which reflects the general slowing down in private development work.
Contractors' difficulties
2.19. The bank crisis in 1965 followed by civil disturbances in 1966 and 1967 have had a marked effect on a number of P.W.D. contractors. One major contractor went into liquidation and ten contracts were either re-entered or determined. In four separate cases judgement creditors sought and obtained a Garnishee Order against the Director of Public Works for a total of $42,599.84. The Department continued
13
No comments yet.
Private notes are available after approval.