D.— 2

Note. —Owing to the altered system of accounts the following adjustments are necessary to make this year's figures comparable with those for 1924-25: — Revenue — £ Total revenue, 1925-26 .. .. .. .. .. .. 8,460,762 Deduct branch and isolated lines subsidies .. .. .. .. 359,541 8,101,221 Total revenue, 1924-25 .. .. .. .. .. .. 7,276,761 Increase .. .. .. .. .. .. £824,460 Expenditure— £ Total expenditure, 1925-26 .. .. .. .. .. 6,468,428Deduct provision for renewals, &c.. .. .. .. .. 317,143 6,151,285 Total expenditure, 1924-25 .. .. .. .. .. 5,709,652 Increase .. .. .. .. .. .. £441,633 The expenditure for 1925-20 includes a subsidy of £145,000 to the Superannuation Fund, as against £80,000 last year.

XXXII