3
FRIDAY, JANUARY 20, 1984
BILL TO STREAMLINE FINANCIAL PROCEDURES
*****
TWO PROPOSALS TO STREAMLINE THE GOVERNMENT'S FINANCIAL PROCEDURES ARE PUBLISHED IN THE GAZETTE TODAY UNDER A BILL KNOWN AS THE PUBLIC FINANCE (AMENDMENT) BILL 1984.
ONE PROPOSAL WILL ENABLE CERTAIN REFUNDS, OR OVER-COLLECTIONS OF DUTY, AS SPECIFIED IN SUBSIDIARY REGULATIONS, TO BE PAID DIRECT FROM REVENUE WITHOUT PASSING THROUGH THE MAIN ACCOUNTS,
IRRESPECTIVE OF THE YEAR OF COLLECTION.
THIS WILL AVOID ANY ARTIFICIAL INFLATION OF THE ANNUAL EXPENDITURE FIGURES AND ANY FALSE IMPRESSION OF THE RELATIVE SIZE OF PUBLIC SECTOR EXPENDITURE, A GOVERNMENT SPOKESMAN SAID.
THE OTHER PROPOSAL WILL ALLOW CONTROLLING OFFICERS TO DELEGATE THE IR AUTHORITY FOR SIGNING ALLOCATION WARRANTS.
THE SPOKESMAN EXPLAINED THAT THE GENERAL PURPOSE OF THESE ALLOCATION WARRANTS IS TO ALLOW ONE DEPARTMENT, WHICH HAS THE FUNDS, TO ASK ANOTHER DEPARTMENT, WHICH HAS THE EXPERTISE IN BUYING GOODS OR SERVICES, TO DO SO ON ITS BEHALF.
EACH YEAR MORE THAN 10 000 ALLOCATION WARRANTS ARE ISSUED.
IT IS INCONSISTENT WITH THE LEVEL OF RESPONSIBILITY OF CONTROLLING OFFICERS IF THEY HAVE TO SIGN PERSONALLY EVERY WARRANT, EVEN IF THE AMOUNT OF EXPENDITURE INVOLVED IS SMALL, THE SPOKESMAN SAID,
THE BILL WILL BE PRESENTED TO THE LEGISLATIVE COUNCIL ON JANUARY 25 AND IS EXPECTED TO RECEIVE ITS THIRD READING ON FEBRUARY 15.
PUBLIC COMMENTS MAY BE SENT TO UMELCO, AT SWIRE HOUSE, 12TH FLOOR, CHATER ROAD, OR TO THE DEPUTY FINANCIAL SECRETARY, AT THE CENTRAL GOVERNMENT OFFICES, LOWER ALBERT ROAD, HONG KONG.
14