The estimated sum of $2,592,835.41 allocated for the year to education from ordinary incoíne general represents the estimated equivalent of the amount to be derived from a two per cent. General municipal rate to-Zether with the correlative proportion of land tax which is the maximum transfer permissible under the Council's existing education policy. It is anticipated that this allocation, together with receipts under miscellaneous income, will be insufficient te meet the estimated expenditure requirements for the full year by some 330,150.
Text read from the printed page and cleaned; old type leaves the occasional error.