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LIABILITIES. AMOUNT ASSETS. AMOUNT. $. cts $. ct Drafts and Remittances - " - 1,453 65 $ cts. Fixed Deposit - - - 67,074 09 Current Account - 10,448 44 Money in transit to Bank - - 816 22 11,264 66 Less Outstanding Cheques- 11,025 10 - 239 56 Cash - - - - - 40 69 Crown Agents - - - 6,072 58 Balance - - 72,245 73 Sub-Accountants- 272 46 $. 73,699 38 $ 73,699 38

H. B. Ching,
Financial Assistant.

CLASS W.—continued.

VOTE 3.
TELEGRAPH SUBSIDIES AND PACIFIC CABLE.

ACCOUNT of the Sum Expended, compared with the Sum Granted, to pay the SUBSIDIES to certain TELEGRAPH CoMPANIES, and a GRANT IN AID of the Annual Expenses of the PACIFIC CABLE (Pacific Cable Act, 1901, 1 Edw. VII. c. 31) in the Year ended 31st March, 1906, showing the Surplus or Deficit upon each Sub-Head of the Vote.

Expenditure, compared with Grant. SERVICE. GRANT. EXPENDITURE. —

More than Granted.

Less
than Granted.

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A.—African Direct Telegraph Company - || 19,000 – – 19,000 — — - -
B.—Eastern Telegraph Company - - 4,500 – – 4,500 – — - -
C.—Eastern and South African Telegraph
Company - - - - - - 31,500 – 31,500 – — - --
D.—Eastern Extension, Australasia, and
China Telegraph Company - 4,000 — 4,000 – – - -
E.—Direct West India Cable Company - 8,000 — 8,000 – – --- -

F.—Halifax and Bermudas Cable Company 8, 100 – 8, 100 – –

69,325 10 – 4,219 10 –

G.—Pacific Cable, Grant in Aid - - - 73,545 – — GROSS TOTAL £. 148,645 – – 144,425 10 - 4,219 10 – – Surplus of Gross Estimate | over Expenditure. 42. 4,219 10 – Estimated. Realised. Deduct, - - Deficiency of Appropriations H.—Appropriations in Aid - - - - 72,000 – – 67,780 10 – in Aid realised. £. 4,219 10 – NET TOTAL £, 76,645 – – 76,645 – – Netsipusto be Surrendered.

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CLAss W.-continued.

VOTE 3.-TELEGRAPH SUBSIDIES AND PACIFIC CABLE-continued.

ExPLANATION of the Causes of Variation between Expenditure and Grant.

G.—The Pacific Cable Board's expenditure in the year 1905–6 was below, and the earnings were above, the estimated amounts. It was, therefore, unnecessary to issue the whole of the grant. The amount of the balance estimated to be in the hands of the Board on 31st March 1906 was taken into account in estimating the grant required for 1906–7.

H.—The Colonies contribute in each year a proportion of the expenses of the Pacific Cable met out of the Vote in the preceding year, and as these expenses in 1904–5 were below the estimated amount, the Colonial contributions in 1905–6 were proportionately less.

The Surplus of 4,375l. 0s. 0d. shown on the Account of the Vote “Telegraph Subsidies and Pacific Cable,” for the year ended 31st March 1905 has been surrendered.

Treasury, W. Blain, 26 October 1906. Accounting Officer.

I certify that this Account has been examined under my directions, and is correct.

Examined, John A. Kempe,
W. M. Martin. Comptroller and Auditor General.

REPORT OF THE COMPTROLLER AND AUDITOR GENERAL.

Sub-Head D. 1.—In addition to the Expenditure shown under Sub-Head D., and in accordance with the terms of the agreement of 23rd April 1901 between the Eastern Extension Company and His Majesty's Government, a sum of 800l. was paid to the Company on account of the necessary repairs of the Cable between Chefoo and Wei-hai-wei. As no provision was made in the Estimate for work of this nature, the amount in question has, with Treasury sanction, been charged to the Civil Contingencies Fund.

Grant and 2—The Grant and Expenditure are * the deficiency of 4,219l. 10s. 0d. in the *P* realised amount of Appropriations in Aid having been counterbalanced by the saving on Sub-Head G. “Pacific Cable, Grant in Aid.”

John A. Kempe, Comptroller and Auditor General.

CLASS V. —continued.

WOTE 4.

CYPRUS (GRANT IN AID).

ACCOUNT of the Sum Expended, compared with the Sum Granted, in Aid of the Revenue of the ISLAND OF CYPRUs in the Year ended 31st March 1906.

Expenditure, compared with Grant. SERVICE. GRANT. EXPENDITURE. l- - -— — — - Less More than Granted.|than Granted. 4. £ £. £ Cyprus, Grant in Aid - - - - - 16,000 16,000 -

A. H. H. Engelbach,
Accounting Officer.

Colonial Office, } 26 November 1906.

I certify that this Account has been examined under my directions, and is correct,

John A. Kempe, Examined, Comptroller and Auditor General. C. H. Archibald.

CLASS W.—continued.

VOTE 4.

CYPRUS (GRANT IN AID.)

REPORT OF THE COMPTROLLER AND AUDITOR GENERAL. Parliamen- 1. The whole of the Grant in Aid of 16,000l. has been issued.

tary Grant.

- y 2. The Grant and Expenditure are shown as equal—

Even and £. $o. Grant - - - - - - - - - - 16,000

Expenditure - - - - - - - - 16,000

Account for REVENUE AND ExPENDITURE OF THE ISLAND.

1904–5. In the absence of a Grant in Aid for 1904–5 no Report was presented to Parliament, (A9 (A* but I now append the Account of Revenue and Expenditure for that year.

Financial The Account for the year 1905–6 is appended, together with a memorandum which has Position of been furnished by the Receiver General of Cyprus, explaining the more important the Island, differenees between the Estimates and the Actual Ro: and Payments. Exclusive of A.) the Grant in Aid on the one side and payment of Tribute on the other, the Revenue w) "o amounting to 238,2121. 14s. 26.p., shows a surplus over the Expenditure of 79,095l. 7s. 3c.p. as compared with 64,477 l. 19s. 9c.p. in 1904-5.

Revenue. The Revenue for the year, amounting to 238,2121. 14s.2c.p. exceeded the Estimate of 205,757l. by 32,455l. 14s.2c.p. The chief Heads on which the increases occur are— £ s. c.p. Customs - - - - - - - - - 10,468 3 5 Tithes - - - - - - - - - 16,724 17 3 Excise - - - - - - - - - 3,227 10 1 Interest - - - - - - - - - 1,594 17 5 The main decrease is under the Heading of Railway, 2,186l. 14s., which is stated to be due to an over-estimate and to the Railway not being opened until October 1905. Expenditure. The Expenditure of 159,1171.68.8c.p. exceeded the estimate of 157,800l. by 1,317l. 68.8c.p.

Tribute. The amount paid in respect of Tribute was 92,7991. 11s. 26.p.

Assets and The Statement of Assets and Liabilities shows that on 31st March 1906 there was an fiabilities, excess of Liabilities over Assets of 12,411!. 28.8c.p. The arrears of Revenue included in the Assets amount to 4,707l. 18, 8c.p. as against (C) - 6,584l 19s. Ge.p. in the previous year; of this amount it is stated that 4,000l. may be regarded as recoverable. here was a further liability on 31st March 1906 of 309,798l. 10s. in respect of money borrowed under the Colonial Loans Act, 1899 (62 and 63 Vic, cap. 26).

Local Ex- The Revenue and certain other accounts, including those of the Railway, have been

o examined locally by officers of this Department with satisfactory results.

O evenue

Statement I append a summary of the totals of the Revenue and Expenditure of the Island in of Roenue each year since its occupation in 1878. Including the Grants in Aid on the Receipt side

and E. and ayments of Tribute on the Expenditure side, the summary shows a net Deficit of

di ... iii.33. (D) – On the account of the year now under report there was a surplus of 2,296l.

Loan Works. The total Expenditure on the works in connection with Famagusta Harbour and the Railway Construction which were authorized under the Colonial Loans Act, 1899 (62 and 63 Vic, cap. 36) amounted up to 31st March 1906 to 200,534l. 11s. 7c.p., of which 107,684l. 2s. 16.p. was in respect of the Harbour and 92,850l. 9s. 6c.p. of the Railway. The amount outstanding on account of the Loans in respect of these Works on 31st March 1905 was 99,090l., . During the year under report further advances amounting to 154,500l were received, while repayments were made amounting to 1,990l., leavingabalance outstanding on 31st March 1906 of 251,600l.

Outstanding The outstanding questions relating to previous years have now been settled. There Questions. are a few questions outstanding on the Account for 1905–6 which do not call for special remark.

John A. Kempe, Comptroller and Auditor General.

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