Liabilities.
$ 20,824,314 Deposits. Various deposits made by other Administrations,
contractors, Government servants, etc.
$ 54,072,816 Suspense. Mainly credit balances on trading accounts of the Department of Supplies and Distribution, partly offset by debit balances on other trading accounts shown as Assets.
$ 2.075,582 Special Funds. Cash held in respect of various Special Funds, largely covered by investments as shown on the Assets side balance held in Colony's rash.
$ 5,140,178 Supreme Court Funds. Offset by cash on current account and on fixed deposit under the control of the Supreme Court.
$ 72,143,683 General Revenue Balance. Represents the Colony's ac-
cumulated surplus.
$154,256,573
LOANS TO LOCAL BODIES.
10. It will be seen from Appendix IV that $939,400 was outstanding on account of loans made from revenue mainly to educational institutions.
PUBLIC DEBT.
11. Appendix VIII shows that the amount outstanding in respect of the four Colony Loans was $69,016,000 which was covered by Sinking Fund investments to the extent of $4,041,646; only two of the loans being redeemable by way of sinking fund and the other two by annual drawings. Of the total amount outstanding. $50,000,000 is in respect of the 31% Rehabilitation Loan issued in January, 1948. In addition, $37,652,668 has been advanced from the Colony's surplus balances until such time as further loan funds are raised under the Rehabilitation Loan Ordinance of 1947.
CURRENCY FUNDS.
12. The position in regard to these Funds is shown in Appendix XII.
STAFF.
13. Mr. H. R. Hirst returned from leave in November, 1948, and Mr. A. J. Collins Taylor, the then Assistant Accountant General, who had been Acting Accountant General, proceeded on a well earned leave pending retirement after 35 years service in December, 1948.
Much still remains to be done to clear up extraneous matters arising out of the enemy occupation and subsequent period of Military Administra- tion. This places a considerable extra burden on the staff to whom tribute is due for their continued whole-hearted co-operation.
The Hon. Colonial Secretary,
Hong Kong.
I have the honour to be,
Sir,
Your obedient servant,
H. R. HIRST,
Accountant General.
ASSETS
APPENDIX I
STATEMENT OF ASSETS AND LIABILITIES AS AT 31ST MARCH, 1949.
$
קי
33
5
Colonial Development & Welfare Schemes Government Servants & Contractors DEPOSITS
Land Sales
1941 Advances Recovered
Refunds of Relief Loans (China)
Other Administrations
Rice Insurance Claims
Water Deposits
Miscellaneous
SUSPENSE :-
+
Supplies, Trade & Industry Miscellaneous
Grant Schools Building Depreciation Fund
$.C.A. Chinese Public Dispensaries Fund
Education Scholarships Fund
Grant Schools Provident Fund
S.C.A. District Watchmen Fund
S.C.A. Passage Money Fund
Water Works Renewals Fund
SPECIAL FUNDS :-
(Official Administrator, Public Trustee, etc.)
SUPREME COURT :-
$
156,440.92
2,664,284,13
1,036,912.40
2,278.030.08
5,666,717.94
2,561,330,41
895,968.56
1,823,313,23 3,741,316.61
20,824,314.28
$53,036,234.63(a) 1,036,581.12
54,072,815.75
73,099.27
169,665.33
624,616.41
At Bank
In land
CASH :--
With Crown Agents (£707-3-8)
Joint Colonial Fund (£2,031,000)
IMPRESTS
$1 Note Security Fund
Pending Raising of Loan Personal
Other Administrations
Miscellaneous
ADVANCES :-
SUSPENSE
Supplies, Trade & Industry Miscellaneous
Kowloon Canton Railway
INVESTMENTS :-
$22,793,422.17
484,098.50
11,314.93
32,496,000.00
55,784,835.60
10,036.00
$ 8,000,000.00 1,828,765.90 37,652,668.19 701,659.15
618,850.45
$
48,801,973.69
27,744.95 39,570,944.22(6) 14,733.25
39,613,422.42
6,150.00
Special Funds :-
59,350.00
Education Scholarships
6,150.00
1,136,550.95
Sterling Investments (£64-11-9) H.K. Government Loan Fixed Deposits
---
LII
3,000.00
41,990.00
1,033.40
46,023.40
5,140,178.16
TOTAL LIABILITIES
82,112,890.15
GENERAL REVENUE BALANCE ACCOUNT
Balance at 1st April, 1948
Add Net Appreciation on Investments Add Surplus for 1948/49
$37,063,396.36 34,979,931.89 100,355.00
72,143,663.25
Grant Schools Building Depreciation Fund Sterling Investments (£9,720-0-5)
Grant Schools Provident Fund-Sterling Investments (£37,172-2-3)
www
S.C.A. Chinese Public Dispensaries Fund-H.K. Govern- ment Loan
S.C.A. District Watchmen Fund H.K. Government Loan S.C.A. Passage Money Fund-H.K. Government Loan Hong Kong Government 34% Dollar Loan SURPLUS BALANCES --
SUPREME COURT:-
Current Account
Fixed Deposits
155,520.33
594,753.80
6,150.00
59,350.00
---
6,150.00
4,038,180.00
$ 1,941,212.20 3,198,965.96
5,140,178.16
LIABILITIES
$154,256,573,40
$154,256,573.40
NOTES:-Government holds fully paid shares in Associated Properties Ltd, valued at $1,629,000 and there is also an amount of $764.70 due from Colonial Development and Welfare funds under approved Scheme R94 Fisheries Research.
(a) Represents total of credit balances on various accounts under this head.
(b) Represents total of debit balances on various accounts under this head. THE TREASURY,
Hong Kong, 8th September, 1943.
Examined:
P. H. JENNINGS,
Director of Audit.
25th January, 1950.
H. R. HIRST,
Ircountent General
34
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