8.-6

5

there is the annual charge, amounting to approximately £350,000, or interest and debt-repayment charges on the loan expenditure. Thus the total cost to the Dominion for education now exceeds £4,500,000 per annum. An increase of £23,494 is also shown under the Marine Department's vote. This was brought about by the purchase of a new lighthouse tender to replace the s.s. " Tutanekai." The balance of the purchase-price will come to charge during this financial year. These and other smaller increases in the expenditure were partly offset by comparative decreases under other votes, the net increase under annual appropriations, as already stated, being £40,946. SUMMARY OF THE YEAR'S OPERATIONS. The transactions for the year resulted in a surplus, as follows : — Revenue. Taxation— £ £ Direct .. .. .. .. .. .. 8,837,335 Indirect .. .. .. .. .. 10,636,780 19,474,115 Other receipts .. .. .. .. .. .. 5,875,746 £25,349,861 Expenditure. £ £ Permanent appropriations .. .. .. 20,297,824 Less credits in reduction .. .. 3,070,219 t 17,227,605 Annual appropriations .. .. 9,226,500 Less credits in aid .. .. 1,253,223 7,973,277 Net expenditure chargeable against revenue .. 25,200,882 Surplus .. .. .. .. .. £148,979 The following shows the year's results as reflected in the Ordinary Revenue Account of the Consolidated Fund : — £ Balance brought forward, Ist April, 1929., .. .. 2,453,541 Add— £ Surplus, 1929-30 .. .. .. .. 148,979 Advance to Native Trustee repaid (net) .. 33,000 181,979 Less— 2,635,520 Advances to Rural Intermediate Credit Board 162,000 Subsidies to local authorities for unemployment relief .. .. .. .. .. 111,728 Assistance towards restoration of public works damaged by earthquake .. .. 3,516 Charges and expenses of raising loans .. 1,939 279,183 Balance, 31st March, 1930 .. .. .. £2,356,337 This balance was made up as follows : — £ Cash ~ .... . . . . .. 1,510,239 Imprests outstanding .. .. .. .. 132,132 Investments .. .. .. .. .. 713,966 £2,356,337

Summary of year's operations.

Result in funds of Ordinary Revenue Account.