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HONG KONG PROVISIONAL URBAN COUNCIL
RESOLVED that the audited Statement of Assets and Liabilities and Statement of Receipts and Payments of the Urban Council for the year ended 31 March 1997 be adopted.'
He said (in Cantonese):-In accordance with Section 36(4)(c) of the Provisional Urban Council Ordinance, I move the adoption of the audited Statement of Assets and Liabilities and Statement of Receipts and Payments of the Urban Council for the year ended 31 March 1997.
Members will note that the Director of Audit's Certificate on the Statements is not qualified by any observation on the manner in which the Council's accounts have been kept and rendered.
In accordance with Section 40(4) of the Provisional Urban Council Ordinance, one copy of the audited statements will be forwarded to the Chief Executive.
I so move.
Mr. Chiang Sai-Cheong, Chairman of the Finance Select Committee (in Cantonese):-Mr. Chairman, in rising to second the motion, I am pleased to report that the financial accounts which showed a surplus of $150 million for the
year ended 31 March 1997 have been certified as correct by the Director of Audit. Full details were provided to Members on 8 July 1997 at the Standing Committee of the whole Council.
The surplus of $150 million for the year 1996/97 has brought the cumulative reserves to $3.19 billion. Part of the reserves will be deployed to finance some of the Council's planned programmes as the new rates grant for the triennium 1997/98 to 1999/2000 will fall short of the Council's estimated requirement in the 1996/97 Five Year Forecast by $3.8 billion. However, the Council will continue its prudent handling of its finances and try to contain its expenditure within the limit of revenue.
Mr. Chairman, with these words I second the motion.
CHAIRMAN (in Cantonese):-This motion under the Urban Council Ordinance has been moved by me and seconded by a Member. Is there any Member who wishes to speak? If not, please vote. Would Members please vote ‘yes' or 'no' with the computer system? Please input your vote. Those who haven't cast their vote yet please put up your hands. Voting time is up. Would the Secretary please count the votes?
The question was put.
The motion was carried unanimously.
(2) THE HON. Mok Ying-fan moved:—
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