PUBLIC ACCOUNTS

Dominion, Volume 14, Issue 261, 29 July 1921, Page 4

PUBLIC ACCOUNTS

FIGURES FOR JUNE QUARTER REDUCED BALANCES THE GOVERNMENT’S FINANCIAL POSITION The public accounts fur the three months ended Juno 30 last, the first quarter of the current financial year, have been issued. They throw some light on the financial difficulties of tho Government. The figures dealing with the Consolidated Fund show that the cash in the public account on April 1 amounted to £4.920,293, and on Juno 30 to £853.436. The investment account at tho end of the quarter contained £2,973,340. as against a sum of £14,232,950 held in the sanie<account at the end of the corresponding quarter of last vear. The ordinary revenue for the quarter was £4,897,227, as against £5.598,171 for the quarter of last year. Some of the detailed figures are a» follow; — RECEIPTS.

The figures dealing with the Public Works Fund show that the cash in the general purposes account at the loginning of the quarter was .£180,910, and imprest outstanding amounted to .£308.577. The balance at the end of the quarter was £134.662, with imprests outstanding to (lie amount of £.'697.552. The important items on the receipts side for the quarter were: Debentures issued under Finance Act, 1921. X 163.000; debentures issued under Finance Act. 1920, £1560,000; proceeds of Treasury bills, £1200,000. Tim general public works expenditure for the quarter amounted to .£680.726. a= against £1260.060 for the June quarter of last year. The chief items of expenditure were as follow : —

•Credit. The electric supply account was in credit X 1,079,532 at the beginning of the quarter, this including cash .£40,495 and investments X 1,000,760. The cash in the account at the end of the quarter amounted to X,50,205. The investment neoount contained • .£750,760 and imprests brought the total balance up to X 1,035,707. The expenditure on development of wa-ter-power for the quarter amounted to X 82.203, as against X 28.963 in the corresponding quarter of 1920.

Quarter ended' June 30. 1921. £ 1920. £ Balance at beginning of quarter— Cash in the Public Account 4,920,293 2,127,550 Imprest outstandmg— In the hands of officers of the Government ... 39,691 36,636 In London 632,235 ' 88,573 On account of other Govern- ' ments 125,490 99,909 On account of Imperial pensions 20 006 6,056 Investment Account 2,553,490 15,180,250 Totals' 268,591,208 £17,538,976 Ordinary revenue — Customs 1,369,820 2.013.30G Stamp and Death Duties 719 825 R41 663 Postal and Telegraph Revenue... 676,351 571,587 Land Tax 71,416 44,421 Income Tax 159,704 89,696 Railways 1,609,937 1,419,855 Registration and other Fees 29,322 51,002 Marino 14 359 Miscellaneous 162,692 47O’S69 Territorial Revenue 20,302 13,176 National Endowment Revenue 102,451 100,447 Totals .£5,020,010 £5.711,795 ••• EXPENDITURE. Quarter Ended June 30. 1 1921. 1920. £ £ Permanent Appropriations— Civil List 6,710 7,293 Interest and Sinking Fund 2,866,770 2,678,416 Under special Acts of the Legislatune 210 349 114 363 Subsidies paid to local bodies 9,409 5,3S9 Subsidies paid to hospital boards 158,349 90,694 Payments under the Land Acts 959 931 New Plymouth Harbour Board ... 2,787 Westport Harbour Board — National Endowmeat Residue ... — 90,402 • Old-age Pensions 124,343 89,970 Widows’ Pensions 31,803 30,632 Military Pensions 6,588 6,777 War Pensions Act, -1915 289.555 299,322 Miners’ Pensions 4,317 3,323 Totals £3,711,973 £3,418,704 Annual Appropriations— Legislative 9 G43 6 713 Finance 355,175 60,573 Post and Telegraph 493,271 296,358 Working Railways 1,978,600 931,282 Public Buildings and roads- 21,509 20,190 Cook Islands 3,047 3,461 Native 7 G04 Justice 130,444 108,909 Mines 11,303 8,801 Internal Affairs ... 127,171 47,976 Public Health, Hospitals, etc. ... 131,920 111,379 Tourist 23,116 18,116 Defence 98,884 135.656 Customs, Marine 71,847 41,258 Labour 7,620 9 722 Lands and Survey 73,537 58'962 Valuation and Electoral 20,865 19,005 Agriculture 70,649 53,369 Education 660,392 464,648 Services not provided for 3,790 207,014 £4,300,397 £2,610,124 Advance to Southland Electric Power Board 69,000 W Transfer to Nauru and Ocean Islands Account — 600,000 Balance at end of Quarter — Cash in the Public Account 853,436 1,111,447 Imprests outstanding— In the hands of Officers of the Government ... l,348,20G 1,603,598 In London . 359,819 195,200 On account of other Governments 52,061 87.0S2 On account of Imperial Pen2,420 Investment Account 2.973,340 14,232,950 5.590,033 17.232.694 Totals £13.671,403 £23,861,524

1921. 1920. J! X Kailwnv construction 297.920 107.223 Immigration R7.494 25.9.99* Ponds and ... Sl.twi 40.604 Plant and material ... 51.038 5.103 Public buildings 51,297 S9.123