A (2) 15
The sum mentioned above represents merely the value of Fixed Deposit receipts so lodged, and appears on both sides of the Colony's Balance Sheet, but it is doubtful whether this inclusion is really necessary. On the other hand, the fact that securities have been lodged with the Crown Agents by Local Banks as security for their Note Issues, is not shown by the Balance Sheet.
75. Transfer of Deposits to revenue.
With reference to Colonial Regulation No. 330, it was suggested by audit that all Deposits under the control of Departments should be scrutinized at the close of each financial year and that any balance which could not be considered a liability to the Colony should be transferred to revenue.
The Treasurer replied that this would be done.
76. Praya East Reclamation ($108,280.35).
This liability represents the cost of work still to be completed.
77. Exchange Adjustment ($23,934.73).
This has been verified by audit. It represents the difference between the cost price of sums placed in the Joint Colonial Fund and on an Imprest of £150 held in Australia, and the December Exchange Rate.
J.—STORES ACCOUNTS.
78. Manner in which the accounts have been kept.
The stores accounts of the Colony have generally been kept in a satisfactory manner and call for little comment.
79. Boards of Survey.
In accordance with Colonial Regulation 344, the usual Annual Boards of Survey were held after the close of the year to inspect and report on all Government Stores. No major discrepancies were reported.
80. Losses of Stores by theft.
A number of cases were reported during the year in which small items of Government property had been lost by theft. Where it was considered that the persons responsible for their custody had taken insufficient care to prevent such losses, their salaries were surcharged.
81. Medical Stores.
The accounts of the main Medical Store have for a number of years been reported on adversely by audit, and although the system employed has on more than one occasion been revised,
A (2) 15
sum mentioned above represents merely the value of Fixed Deposit receipts so lodged, and appears on both sides of the Colony's Balance Sheet, but it is doubtful whether this inclusion is really necessary. On the other hand the fact that securities have been lodged with the Crown. Agents by Local Banks security for their Note Issues, is not shown by the Balance Sheet.
75. Transfer of Deposits to revenue.
With reference to Colonial Regulation No. 330 it was sug- gested by audit that all Deposits under the control of Depart- ments should be scrutinized at the close of each financial year and that any balance which could not be considered a liability to the Colony should be transferred to revenue.
The Treasurer replied that this would be done.
76. Praya East Reclamation ($108,280.35).
This liability represents the cost of work still to be com- pleted.
77. Exchange Adjustment. ($23,934.73).
This has been verified by audit. It represents the difference between the cost price, of sums placed in the Joint Colonial Fund and on an Imprest of £150 held in Australia, and the December Exchange Rate.
J.-STORES ACCOUNTS.
78. Manner in which the accounts have been kept.
The stores accounts of the Colony have generally been kept in a satisfactory manner and call for little comment.
79. Boards of Survey.
In accordance with Colonial Regulation 344, the usual Annual Boards of Survey were held after the close of the year to inspect and report on all Government Stores. No major dis- crepancies were reported.
80. Losses of Stores by theft.
A number of cases were reported during the year in which small items of Government property had been lost by theft. Where it was considered the persons responsible for their custody had taken insufficient care to prevent such losses their salaries were surcharged.
81. Medical Stores.
The accounts of the main Medical Store have for a number of years been reported on adversely by audit, and although the system employed has on more than one occasion been revised,
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