-7.
19
Note Security Fund / 8,992,092.57, Subsidiart Note Security
Fund 2,413,438.65, and Overprinted Note Security Fund
$400,000* in the Statement of Assets and Liabilities, the
Director of Audit reports that the balances on these furrency
funds at the beginning of the period under review (to which
reference has already been made at paragraph 8 (111) above)
appear to represent, so far as can be ascertained from records
now available, approximately 70% of the full amounts of currency
recorded as being in circulation at the end of 1941 in the case
of the first two items, and 100% in the case of the last item.
It is understood that the position with regard to these funds
has been referred to the Secretary of State.
•
18.
Due to a misallocation, the liability "Currency
Funds Note Security Fund $8,992,092.57* is understated by
355,000, the liability "Currency Funds - Overprinted Note
Security Fund ₫ 400,000* being overstated by a like amount.
19. The General Revenue Balance of ☀ 487,434.89 at the
31st of March 1947, reflected in the Statement of Assets and
Liabilities, which takes into account the payment of
$5,158,000 mentioned in paragraph ♬ above, is understated by
≈ 12,000,000 as a result of the under-credit to revenue
referred to in paragraph 16.
20.
The asset "Imprests $90,165.09" comprises two
small unretired imprests totalling X 1,118.40, and an amount
of 89,046.69, in respect of a sum of Rupees 50,000 advanced
to the Hong Kong Government Agent in Calcutta. The latter
sum was, I understand, transferred to an Advance Account in
May 1948.
21.
The Director of Audit states that the asset
*Investments, etc. Miscellaneous Funds, Sundry
-
7,248,000* is incorrectly recorded under this heading in
the Statement of Assets and Liabilities, since it represents
investments held on account ofthe Colony's surplus balances.
22. The investments forming the asset "Investments, etc.
Miscellaneous Funds Banking and Insurance Companies (Stg.
Investments £5,057,500) are included in the Statement of Asset
and.
W
•