SUMMARY OF YEAR'S OPERATIONS

Nelson Evening Mail, Volume LXIII, 2 August 1929, Page 5

SUMMARY OF YEAR'S OPERATIONS

The transactions for the year resulted in a deficit, viz.: REVENUE £ Taxation ]7,83(1,234 Other receipts 5,70'.'i,442 Revenue for year £23,500,070 EXPENDITURE £ Permanent appropriations ( £19,083,085, less credits ill reduction £2,838,488) 10,244,597 Annual appropriations ( £9,115,347, less credits in aid £1,183,010) 7,032,332 Net expenditure chargeable to year's revenue £24,170,028 Deficit £577,252 In addition to this deficit there were certain other items charged against the balance of the accumulated surpluses of past years and the following shows the result in' the funds of the Ordinary Revenue! Account.at the end of the vear:— £ Balance forward Ist April, 1928 3,302,232 Less—Deficit for year 1928 29, £577,252; final instalment of purchase price of C long-term mortgage shares in Bank of New Zealand, £58,594; amortisation of debt, £SO; subsidies to local authorities in respect) of unemployment, £08,507; Advances to Native Trustee (net), £33,000; Advances to Rural Intermediate Credit Board, £110,100; sundry charges and expenses of raising loans, £ll2B - 848,001 Balance, 31st March, 192 9 £2,453,541 This balance was made up as follows: Cash ••• 2,315,381 Imprests outstanding 2 on Investments ...... 2 ) 280 £2,453,541