The Financial Position of the Colony

Feilding Star, Volume XII, Issue 92, 27 January 1891, Page 4

The Financial Position of the Colony

♦— ; Th<* followine is the memorandum by the Co.ouial iVeaaurer for the information of His Excellency ihe Governor laid before Parliament on Friday : — Betas: about to 'my office of Colonial Treasurer, I desire before doing so fo place before your Excellency a short" statement showing the actual re* suits for the first nine months ot the year, together with &a estimate for the remaiuiug three months, tbus showing the probable stute of the finances at the m.i of the current financial year. OKDXNAnr BEVESUK. -EXPEKDITITBE, la my Financial Statement of 1890 1 estimated the total expenditure at &4,*127;417. After adding the amount vdteVThV the ' Supplementary Estimate^ anH deducting the reductions made in Coramittee of Supply, the expenditure, authorised was £4,125,502. • Tlie actual' expenditure for the nine in'onths already brought to account-was £3,287,531, excluding £78,600, imlanee of deficit at 31st March, 1888, paid off } andaj careful estimate prepared by the various departments — which in my opinion, is certainly not an under estimate— shows the probable expenditure for'the' three months ending ihe 31st March" next to be £843.047. making a total estimated expenditure for the year of T £4,130,578, being £5076 over my, estimate. Bui in this expenditure, is in j eluded £14,600 for the session about io be held, for which of course I did~hdt estimate. ' r . ' i r EETENUE. ;:i The estimated revenue, after deducting L 27.500, six months' primage duty, which was disallowed by the House, was £4,131.500. , The total^ receipts for ihe nine" months we're £3,1 2 1.963; the esti mated 'receips' for the three months ending 31st 'M arch next are £1,128.285. As Tar-as 1 am able-to judge,"»his amount is likely to be realised, giving :i total re- I venue-for the year of £4,25, 248, being , £118,748 in excess of my original estimate. .. Ihe .chief items of revenue in which excesses occur are — Customs, J £89,'721; railways, £15,000; stamps, £5728 ; beer duty, ' £5100. • Other 'sources of revenue also show slight increases. V I anticinated'the property tax ■'estimate will be fully realised, — — -LAND FCND^EXPENDITUHS. - <]The^tptal, [expenditure rautuorised by Parliament on the J^and Fund account was £115,680. The actual expenditure for the. first nine months was £83,997, ■^and'th'e-'estimated expenditure by 'the "departments for the three months ending -the-3Lst'Mareh next 'is £37,43i>. making 'a ; probable expenditure 'of ■ £121,427 for sthVyear, being £5747 in. excess of the •"original estimate. This excess is caused •by expenditure on surveys • a considerable sum niay, however, be recovered on sithis account before 'the end of the year. *J" * BEVENtra. The estimated land revenue was ££9,6,6pQ. The actual rrce?pfcs for the , filne'^mont^'were £123,142,' arid thee'stiimalteJ receipts for the 'three months 'ending 31sf -March next are £40,928, giving a total of £164,070. or £67,470 more,Tthanl_was' estimated. The Land Eund.was-m debit at the beginning of -'theyear £45.717. t This debit will there--1 "fore be reduced to £3074'; but probably _sit will be extinguished at the end of the .present year. , J /', ' ''■■"*, STTMMAB?.. ' j ,^e began the jVir with a balance of -£1',047{466, -which has -been increased to £1,053,247, from .special receipts. There has bee'n ri £2s4.l)l4_exi)ended "during the ..past ninejnonths, while a,furtlier sum of -,£105,625' will be probably 1 required, 'making "a' I 'total estimated expenditure of £359,639 for the year- and leaving an available balance of £693,608 at the close 'Ofthe present financial period, Mibject, of course, to outstanding liabilities J^-I'may-add that on the 3ist December last the balances of the three .pans consisted of — Cash in- the/Public Account £142,159 - Cash on Fixed Deposits in London 30,000 In, the hands of officers of the " "Government ... ... 73,001 Temporary l In vestments— •' - Imperial-guaranteed Deben« tufes ■'.-/•• ... - i ' ... 261,000 vWe3tport Harbour Loan Debentures ... - „, 110,500 "Greymoute Harbour Loan Debentures < ... - ... 5,000 'Government Loans to Local <' : Bbdirs' Debentures ... 40.000' ~ iDeficiency Bills ... ... 49,600 . , , £711,260 /Available under section of 31 of the Government Loans Local Bodies Act, 1886 .... 87,974 'Total on 31st Dec em ber, 1890 £799,234