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HONG KONG
ANNUAL REPORT
BY THE
ACCOUNTANT-GENERAL
FOR THE YEAR ENDED THE 31ST MARCH, 1949.
The Treasury,
Hong Kong,
27th January, 1950.
Sir,
I have the honour to submit my report on the accounts and finances of Hong Kong for the year ended 31st March, 1949, together with the following Appendices:-
I. Statement of Assets & Liabilities.
II. Statement of Special Funds.
III. Statement of Balances, excluding Special Funds.
IV.
Statement of Outstanding Loans made from Revenue.
V. Statement of Revenue under Heads & Sub-heads as compared
with the Estimates.
Statement of Expenditure under Heads & Sub-heads as com.
pared with the Estimates.
VI.
VII.
VIII.
Statement of Public Debt.
Statement of Loan Expenditure.
IX. Statement of Investments.
X. Statement of Kowloon-Canton Railway, Unallocated Stores
Account.
XI. Statement of Funds held by the Registrar, Supreme Court. XII. Statement of Currency Funds.
REVENUE & EXPENDITURE COMPARED.
2. The following figures show how the actual revenue and expenditure totals compare with the Estimates:-
Revenue
Expenditure
Surplus
Estimates
$151,407,950
150,284,105
Actual
Increase
$194,933,955 $ 43,526,005 159,954,023 9,669,918
$ 1,123,845 $ 34,979,932 $ 33,856,087
Add Net Appreciation of Investments
Total Surplus for year
100,355
$ 35,080,287
It will be seen that revenue exceeded expenditure by $34,979,932 to which must be added the net appreciation of $100,355 arising from the revaluation of investments to middle market value at the 31st March, 1949, making the actual surplus for the year $35,080,287. The General Revenue Balance (Surplus) which stood at $37,063,396 at the beginning of the year was thus increased to $72,143,683 at the 31st March, 1949.
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