Colonial Treasurer Incorporated but it is expected that transactions in the coming financial year will increase.
Contracts
2.46 At the beginning of the year there were 300 capital works contracts in progress and a further 376, with a value of $1,620.076M, were awarded during the year; of this combined total of 676 contracts, 424 were still uncompleted at the end of the year. Three surety bonds were called in but still unpaid during the year, although $129,214 was recovered from sureties in respect of bonds called in during 1971-72.
2.47 No contract was re-entered during 1972-73, which may be attributed to the inclusion of wages and prices fluctuation clauses in the General Conditions of Contract. The practice of inspecting contractors' accounts in order to assess their financial stability continued and during the year 54 sets of accounts were examined. Of these 11 were eventually considered to show insufficient resources to support the applications for inclusion, confirmation or promotion in the P.W.D. list, while 43 cases were approved.
Supplies
2.48 The Supplies Officer, Public Works Department Headquarters, continued to carry out programmed stores inspections of 17 allocated stores in Public Works Department and, where necessary, give advice to professional and technical officers as well as supplies personnel on procurement and storehouse operation procedures.
2.49 During the year under review, 107 cases of lost or deficient stores under S.R. 394 (a) - (e) were reported by various offices of Public Works Department and the total value of losses written off was $18,219.47 compared with 130 cases valued at $21,145.49 for the previous year.
2.50 The Annual Departmental Stocktaking under S.R. 391 was conducted on 72 stores locations within Public Works Department, resulting in 60 discrepancies being found. The surpluses and deficiencies were subsequently adjusted or written off.
2.51 A total of 220 orders for B.S.I. publications and technical books were placed by the Public Works Department Headquarters Supplies Section during the year, at a total cost of $76,998.58 compared with 97 orders at a total cost of $38,594.72 during the previous year.
Page 30
Page 31