PUBLIC ACCOUNTS.

Auckland Star, Volume LVIII, Issue 127, 1 June 1927, Page 18

PUBLIC ACCOUNTS.

SURPLUS OF £587,142 SHOWN

INCREASE IN EXPENDITURE

LARGE INTEREST BILL.

(By Telegraph.—Own Correspondent.)

WELLINGTON", Tuesday

The audited public accounts, published in a gazette to-day, show that the revenue for the year ended March 31 was £3107 more than the amount given by the Minister of Finance in his statement last month. The expenditure was £200>3 more, so that the surplus is increased by £142. A further statement issued by the Minister gives details that were not available earlier.

Following is a comparison of the receipts and expenditure of the ordinary revenue account for the last two years, the permanent and the annual appropriations being shown separately: — Ifi2s-2e mi'tM'T. Revf-nue £J4,7J5,76J £24.943,1U7 Expenditure— Permanent .. ]:?..-»Sfi.n2S 14.284,043 Annual !>,!»53.1."".."". 30.001,020 Totals .... £-3, r>70.083 £l'4.::.">5.CHJj Surplus ... £1,1u5,«70 £557,14J The balance brought forward at April 1, 1926, was £4,428.002. To this are added: Surplus, 1020-27, £557,142; reparation moneys received from Germany, £39,307 (against £156.227 in the previous year); recovery from Cheviot Estate account, in terms of the Finance Act, 10-26, section 25, £50,400; total. £5,104,941. Transfers from Fund. From this total have been deducted: Amortisation of debt, £SSS,B(>S; charges and expenses of redemptions (war expenses loans), £13; transfer to Bank of Xew Zealand shares account, in terms of Finance Act, 192«, section S, representing £750,000 preference B shares (at cost) £750,000, and in terras of Appropriation Act, 1926, section 17, first instalment for purchase of C long-term mortgage shares, £55,594; temporary transfers to other accounts, in terms of the Public Revenues Act, 1926, section 40 £26,000; total, £1,423,475. The balance remaining at March 31, 1027, comprised cash and imprests outstandmg, £1,087,876; and investments, £1,693,590; total, £3,681,466. Increase of Revenue. The revenue shows an increase of £217,345 over last year. The principal '£?££» are: rostal V HI telepmph, £148,823; income tax, £53,700; interest on railway capital liability, £130 I-"-departmental receipts, £57,491 ' Decreases include: Customs, £13] 3<»>. u n i 4 aX ,' £3 ?' 592 « in terest on Public IJebt Redemption Fund, £33,814. The increase of £755,582 in expenditure over the previous year was mainly under permanent appropriations, where the 1 - increa * cs w «-'re: Interest, *.il *,»!).>; and under special \cts £-<2,250, including subsidies to hospital boards, £34,721; cost of maintenance of W *^ e ~ aVeS , and ,nemor ials overseas, LMfioo; refunds to racing clubs of proportion of totalisator dutv £31 174. subsidy to Railway Department' on account of branch lines and isolated sec£™\mS4'2:iS-; fruit cx P° rt P««S £52,619; pens.ons (other than war penunTr' £93 f 7 ; The Princi^, Afisi, 1,00,31 Actß Were: War Pensions. £06,8] II; advance to British and South feeas Exhibition during 1925-20, which did not recur, £30,000. Annual Appropriations. Under annual appropriations, the increase is only £107,865. The principal iiTooo n Cre r were: Pub,ic iSSSSK of Internal Affairs i-8,418; naval defence, £85 B'o- l> fence Department, £33,981; Customs Department £14.121; Department o I^. C £99 U B?B 9 n S7?; E,,UCatiOn *.»J,B<B Decreases included: Post and Telegraph working expenses, £63^7 S- °\ In l U A triS -d'comm-ce', i 00,092; Electoral Department, £91,4 lo!