55
(18)
No: 3490/4.
REPORT OF THE DIRECTOR GENERAL OF COLONIAL AUDIT on the
COLONIAL DEVELOPMENT AND WELFARE STATEMENTS of HONG KONG for
the year ended the 31st of MARCH, 1950.
Scheme D. 994.
The amounts at (C) of the Statements represent payments
by the Hong Kong Government to the Government Wholesale
Vegetable and Marketing Organisation which are chargeable to
Colonial Development and welfare funds.
2. As mentioned in paragraph 1 of my last keport, the
accounts of the organisation are audited by a local firm of
accountants. According to information given in their report
on the accounts for the year ended the 31st of March, 1950, it
appears that, at that date, expenditure chargeable to Colonial
Development and Welfare funds exceeded payments made to the
Organisation from that source, as follows :
Expenditure:
Less:
1948-49
1949-50
Payments as recorded at
(C) of the Statements:
Capital
$ 4,699.00
Recurrent (Loan) $48,506.94
Recurrent (Grant) $48,506.94
Balance due to the Urganisation at 31st of March, 1960.
$ 38,109.65
#100.157.71
#138,267.36
$101,712.88
$ 36,554.48
3.
The Auditors draw attention in their report to the fact
that the Organisation had been required to pay Petrol Tax to
the Hong Kong Government during the year. They state that, in
addition