AnnualReport-1935 — Page 82

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Appendix A (2)

REPORT TO THE DIRECTOR OF COLONIAL AUDIT ON

THE AUDIT OF THE ACCOUNTS OF HONG KONG 1935.

Subject to the comments contained in this report the accounts generally have been satisfactorily kept and rendered and the existing regulations appear to provide reasonable accounting protection against irregularities and fraud.

The Appropriation Account was received from the Treasurer on 14th July.

2. The relation between the excess of Assets over Liabilities for the years 1934 and 1935 is established as follows:

Excess 31st December 1934 $12,248,755.24

Revenue 1935 28,430,549.58

Expenditure 1935 40,679,304.82

28,291,636.31

Excess of Assets 31st December 1935 $12,387,668.51

3. Detailed comparisons of the revenue and expenditure for the year with the approved Estimates and with previous years is dealt with fully in the Treasurer's Report (Enclosure M) and Statements (Enclosures C and D).

4. The revenue for the year ($28,430,549) showed a decrease from the previous year of $1,143,736 and fell short of the estimate by $2,155,100.

Expenditure ($28,291,636) was less by $2,857,519 than the previous year and showed a saving on the estimate of $4,264,466.

5. This saving of expenditure, due to a great extent to the rise in the sterling value of the dollar, enabled the year's working to show a surplus of $138,913 instead of the estimated deficit of $1,970,452.

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Appendix A (2) REPORT TO THE DIRECTOR OF COLONIAL AUDIT ON THE AUDIT OF THE ACCOUNTS OF HONG KONG 1935. Subject to the comments contained in this report the accounts generally have been satisfactorily kept and rendered and the existing regulations appear to provide reasonable accounting protection against irregularities and fraud. The Appropriation Account was received from the Treasurer on 14th July. 2. The relation between the excess of Assets over Liabilities for the years 1934 and 1935 is established as follows: Excess 31st December 1934 $12,248,755.24 Revenue 1935 28,430,549.58 Expenditure 1935 40,679,304.82 28,291,636.31 Excess of Assets 31st December 1935 $12,387,668.51 3. Detailed comparisons of the revenue and expenditure for the year with the approved Estimates and with previous years is dealt with fully in the Treasurer's Report (Enclosure M) and Statements (Enclosures C and D). 4. The revenue for the year ($28,430,549) showed a decrease from the previous year of $1,143,736 and fell short of the estimate by $2,155,100. Expenditure ($28,291,636) was less by $2,857,519 than the previous year and showed a saving on the estimate of $4,264,466. 5. This saving of expenditure, due to a great extent to the rise in the sterling value of the dollar, enabled the year's working to show a surplus of $138,913 instead of the estimated deficit of $1,970,452.
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Appendix A (2) REPORT TO THE DIRECTOR OF COLONIAL AUDIT ON THE AUDIT OF THE ACCOUNTS OF HONG KONG 1935. Subject to the comments contained in this report the accounts generally have been satisfactorily kept and rendered and the existing regulations appear to provide reasonable accounting protection against irregularities and fraud. The Appropriation Account was received from the Treasurer on 14th July. 2. The relation between the excess of Assets over Liabilities for the years 1934 and 1935 is established as follows: Excess 31st December 1934 Revenue 1935 Expenditure 1935 $12,248,755.24 28,430,549.58 40,679,304.82 28,291,636.31 Excess of Assets 31st December 1935 $12,387,668.51 3. Detailed comparisons of the revenue and expenditure for the year with the approved Estimates and with previous years is dealt with fully in the Treasurer's Report (Enclosure M) and Statements (Enclosures C and D). 4. The revenue for the year ($28,430,549) showed a decrease from the previous year of $1,143,736 and fell short of the estimate by $2,155,100. Expenditure ($28,291,636) was less by $2,857,519 than the previous year and showed a saving on the estimate of $4,264,466. 5. This saving of expenditure, due to a great extent to the rise in the sterling value of the dollar, enabled the year's working to show a surplus of $138,913 instead of the estimated deficit of $1,970,452.
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Appendix A (2)

REPORT TO THE DIRECTOR OF COLONIAL AUDIT ON

THE AUDIT OF THE ACCOUNTS OF HONG KONG 1935.

Subject to the comments contained in this report the accounts generally have been satisfactorily kept and rendered and the existing regulations appear to provide reasonable accounting protection against irregularities and fraud.

The Appropriation Account was received from the Treasurer on 14th July.

2. The relation between the excess of Assets over Liabilities for the years 1934 and 1935 is established as follows:

Excess 31st December 1934

Revenue 1935

Expenditure 1935

$12,248,755.24

28,430,549.58

40,679,304.82

28,291,636.31

Excess of Assets 31st December

1935

$12,387,668.51

3. Detailed comparisons of the revenue and expenditure for the year with the approved Estimates and with previous years is dealt with fully in the Treasurer's Report (Enclosure M) and Statements (Enclosures C and D).

4. The revenue for the year ($28,430,549) showed a decrease from the previous year of $1,143,736 and fell short of the estimate by $2,155,100.

Expenditure ($28,291,636) was less by $2,857,519 than the previous year and showed a saving on the estimate of $4,264,466.

5. This saving of expenditure, due to a great extent to the rise in the sterling value of the dollar, enabled the year's working to show a surplus of $138,913 instead of the estimated deficit of $1,970,452.

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