In view vf the decision recently taken by the Council on the question of projected increases in taxation, the preliminary estimates of Ordinary Income have been revived to provide for the levy from July J next of a surcharge of 50 per cent. on Land Tax, General Municipal Rate, Special Rate one Special Advertisement Rate ud for an ierease in the rate sivehrye on Licenee Fees and Mar= ket. Fees from 10 per cent. to 80 per cent, The uroxs Income from all sources ig estimated at $41,801,790, an inere= of $13,656480 or A842 per cent. fae compared with the Budget for 1999, Of this amount of $41,001,750 Land Tox accounts for $11,400,750, General Municipal Rate $17,721,250 and Special, Rate $1,150,000 or 'a total '0f-§30,160,000. The more important Hems to which the balance of $1. 501,750 relates are Revenue from Public and Municipal Undertakings $5,470,500; Licence Fees $4,603,700. Rent of Municipal Properties $921100 tind. Wharfage Dues $400,000.
The effect on the 10 Budget of the additional surcharges Tevied from July 1, 1940 may aod 9x (allows the normal and efficient functioning the Municipality.
"The fall in exchange is more particularly. reflected inthe provisions tinder the heading of General Charges relating to Superannuation and Pension benefits for retired and retiring Staff, A not Inconsiderable portion of ihe expenditure under Superannuation Exchange Compensation may be re-farded as nonsrecurrent in view of the unusual number of employees re-riving voluntarily or by retrenchment.
The enormous rise in the cost of living has necessitated the grant of higher compensatory allowances the staff in respect of which there can be no relief unfit conditions. improve.
Provision has been included thr= oughout all departmental estimates for normal. promotions and pay in-erements in accordance with the Grading Seales, The provision for expenditure under Long Leave Exchange Compensation and Passages is restricted follow the Council's decision to suspend ong leave to those employees whose home countries are involved in the European War. The relief to at current Tae and the estimated results should be attained provided no untoward occurrence me fervenes unfavourably during the course of the year, It ix assumed that the satisfactory results of me collection methods in the ern District experienced during quarter of 1939 will be ined throughout 1040, reason of this suspension considerable. merest, Brokerage, ele. $2,987,160 estimated requirements for tute are $753,780 in excess of the Budget appropriation for 1930.
Provision is included for ihe servi ing of outstanding municipal loans il temporary. borrowings and for waneing aneasures 10 be taken dur~ ie 1040, Public and Municipal niertakings $5,170,500 total shown under this head Ing comprises the following. items Redemption of Debentures $146,390
The requirements winder this head-Inge for 10 show an ire attributable mainly higher rates for public ice Ievied by. these companies With the authorization of the Coun Another factor of lesser import {effects these results is the me -demand for public service evidenced by the reports of certain of the tility" and" transportation companies.
Text read from the printed page and cleaned; old type leaves the occasional error.