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28/7/36
No.3456/5.
Mr. Walker,
When dealing with the 1934 account I was
satisfied that eventually authority was obtained
for the 1934 loan expenditure, and the intention
of paragraph 3(a) of my 1934 report at No.3. was
to record that the accounting procedure laid down
in Colonial Regulation 281 had not been followed.
The $14,000,000 is an instalment of the
$25,000,000 authorised to be raised under the
Loan Ordinance (No.11 of 1934).
With reference to the final paragraph of
the enclosure to No.6, the excess expenditure
of $217,067.30 is not shewn as an advance in
the Statement of Assets and Liabilities at
31.12.34 but as an asset "Dollar Loan Account".
I see no reason why Colonial Regulation 281
should not be complied with in this case, and I
agree with the action you propose.
Please let me have a copy of the despatch
that is sent.
Q1. Harding
Director of Colonial Audit.
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