B.—l [PT. IV].

MAIN HIGHWAYS ACCOUNT— continued. Income and Expenditure Account for the Year ended 31st March, 1938, and Total to Date— continued.

37

Total since . Total since FXPFunTTnuT? Total for Inception of Mam IHCOME .l!! 1 ,. InMptiim oi Mn EXPENDITURE. Year 1937-38. Highways Act, 1922, 1JNGOML. Year 1937-38. Highways Act, 1922, to 31/3/38. t0 31/3/38. £ s. d. £ s. d. £ s. d. £, s. d. Brought forward .. .. ., .. .. 3,568,024 16 6 20,841,037 15 0 Brought forward .. . . ■. - • • • 4,289,853 14 2 25,965,401 15 2 Loan charges — £ s. d. Charges and expenses of raising loans, management charges of Consolidated Stock on account of Construction Fund, &c. .. .. .. .. .. .. 489 11 4 .. 68,971 3 9 Interest on amount appropriated out of Public Works Fund and paid into Main Highways Account Construction Fund .. .. .. .. .. .. 61,300 0 0 .. 490,400 0 0 Interest on loans, recoupment to Consolidated Fund (section 4, Finance Act, 1919) .. .. .. 150,758 12 5 .. 1,111,300 4 9 Transfer to reserve for redemption of main highway securities .. .. .. .. .. 99,992 0 0 .. 693,194 0 0* Payment to local authorities in commutation of toll-gate charges (Finance Act, 1925, section 20) .. .. 1,451 18 4 .. 27,204 5 9 Payment to Wellington City Council in commutation of fees chargeable in respect of motor-vehicles using Hutt Road (Finance Act, 1927 (No. 2), section 33) .. 24,501 11 7 .. 230,586 7 5 Total loan charges .. .. .. — 338,493 13 8 2,621,656 1 8 Subsidies, &e., in respect of other than main highways — Municipal Corporations (Municipal Corporations Act, 1933, section 71) .. .. .. .. .. 31,330 9 2 .. 210,481 6 3 County Councils and other local authorities (Finance Act, 1930, section 37) .. .. .. .. 175,214 15 3 .. 1,306,641 18 10 Subsidies to County Councils for rebate to ratepayers (Finance Act (No. 4), 1931, section 45) .. .. .. .. 253,892 12 1 Subsidy on rates levied on farming land (Finance Act (No. 3), 1934, section 28) .. .. .. &. 17 8 6 .. 364,583 19 9 Maintenance and construction of roads giving access to outlying areas (Finance Act (No. 3), 1931) .. .. .. .. 45,918 8 8 Total subsidies .. .. .. .. 206,527 15 11 2,181,518 5 7 4,113,046 6 1 25,644,212 2 3 Balance, being excess of income over expenditure, carried to general balance-sheet.. .. .. .. .. .. .. 176,807 8 1 321,189 12 11 4,289,853 14 2 25,965,401 15 2 4,289,853 14 2 25,965,401 15 2 * Excludes £60,408 10s. 7d. interest credited. Note. —No charge for the cost of exchange on interest payments made in London is included in the accounts.