Annual report on Northern Rhodesia / Colonial Office.

  • Great Britain. Colonial Office.
Date:
[1958]
Catalogue details

Licence: Public Domain Mark

Credit: Annual report on Northern Rhodesia / Colonial Office. Source: Wellcome Collection.

    22/154 (page 20)
    Works Department, amounting to 20 per cent of the total. The next highest item, representing 14 per cent of the total, was in respect of appropriations for capital expenditure, being followed by African Educa¬ tion and Police which accounted for 10 per cent and 9.5 per cent respec¬ tively of the total expenditure. Recurrent expenditure, excluding appropriations from the general revenue balance at the close of the financial year, was £18,502,006 in 1956/57, dropping to £16,726,963 in 1957/58, and falling to £15,000,266 in 1958/59, if estimates are proved correct. Recurrent revenue for 1956/57 amounted to £19,298,986. In 1957/58 this fell slightly to £19,117,853. The estimate for 1958/59 is £15,100,772. The fall in the selling price of copper from the inflated prices of previous years is now being reflected in the Territory’s revenue. A capital fund was established on the 1st July, 1955, incorporating the previous development fund revenue and expenditure as well as expenditure on major public works, loans, investments and other items of a capital nature. The main revenue, apart from borrowings, has come from appro¬ priations from current revenue and from the general revenue balance. Since the 1st July, 1955, £11,136,580 has been appropriated from these sources, and a further appropriation of £2,500,000 from the general revenue balance has been authorised in 1958/59. Substantial contributions have been made from borrowings. In 1955/56, £3,896,857 was received from this source, in 1956/57, £1,164,000, in 1957/58, £2,869,691, and the estimate for 1958/59 is £4,200,000. Contribu¬ tions from Colonial Development and Welfare grants amounted to £237,219 in 1955/56, £102,142 in 1956/57 and £23,687 in 1957/58. In 1957/58 expenditure from the capital fund was £8,083,936, and pro¬ vision has been made for £9,500,000 to be spent in 1958/59. The Government has planned for development expenditure totalling £35,750,000 during the period 1957 to 1961, based on the amount of money likely to be available. The plan is being revised and extended forward two years to produce a new four-year development plan to cover the period 1st July, 1959, to 30th June, 1963. Total drawings from the general revenue balance to finance development and capital items during the financial years 1955/56 and 1956/57 resulted in a reduction of the balance from £4,063,390 to £3,226,055. At the 30th June, 1958, the balance was £3,770,055, but this is expected to drop to £248,905 at 30th June, 1959. There has been no change in the reserve fund which remains at £6,950,000. Tables showing the statements of revenue and expenditure for the financial years 1953-1958/59 are at Appendix III.