At a meeting of the Finance Com-/mittee of the Shangtiai Municipal Council the Treasurer and Controller out ined the main financial results of the [year's working and also the position jas regards the 1935 Budget, It wes stated that the Municipal Rate need not be increased at this time The Ordinary General Budget of 1634 shows a surplus of approximate:
$700,000 compared with an esti mated surplus of $42,000. This result follows on retrenchment and careful supervision whereby nearly ery Department has under-spent its aggregate appropriation. The total of ordinary departmental expendlture for 1934 was approximately }$1,100,000 Jess than the Budget pro-{wision; on the other hand revenue jas some $430,000 short of estimated Feceipts, due in large measure to depression; while the Rickshaw Board's expenditure, for which there Was_no budget provision, amounted 10. $45,000.
The Education Department's Budget of 1994 shows @ surplus of approximately $62,000, which is carried forward to support the educational ce. quirements for the current year.
As regards the 1995 budgetary situation, the total estimated ex~ penditure under the General and Education Budgets, subject to final examination, amounts to $27,100,000. Total ordinary revenue for 1035 is estimated at. $25,900,000 and there Is thus a shortage of $1,200,000 which compares with the estimated short age of $2,000,000 in 1984,—The Treasurer and Controller proposes 10 recommend in due course that the Ordinary Budget for 1985 be finally balanced by appropriating a sum of {$1,200,000 from General Reserve, thus eliminating any question of increasing the Municipal Rate which in his view would be impracticable at the present time,
Text read from the printed page and cleaned; old type leaves the occasional error.