COPY.
ENCLOSURE
Memo on C.0.0. of 9.6.00 with
Pinancial Instructions.
Circular, paragraphs 5 and 6.
Ris
549
V. V.
33023 RECO
Red: 15 OCT 00
The reasons given for changing
the period of the Financial Year do not apply to this
Colony.
The accounts, owing to our hav-
n
ing to wait for the Crown Agept's accounts, are not clos-
ed till the beginning of MEN March.
Against the proposal there are
the following objections:-
ki (1)
Comparison of Revenue and Expenditure from year to
year would be interrupted.
(2)
The Defence Contribution Ordinance 1896, would have
to be amended as it contemplates Calendar Years;and the
present arrangement is most convenient for all parties, as
the balance of the contribution for any one HongKong
Year can be ascertained and paid to the Imperial Gov-
ernment before the close of the genes their Financial Year.
(3) The work of closing the accounts would have to be
done in June: it is obviously preferable to have as much
of the heavy work of the Treasury performed in the cold
asis
season possible.
(4) The Local Auditor examines the Naval Yard accounts. If the periods of closing HongKong and Imperial Accounts
are made identical, it would be somewhat inconvenient for
that