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results have not been up to expectations. A recent inquiry into the system in force revealed it to be most cumbersome and unsatisfactory, and it was also found that the records kept by the Apothecary in respect of drugs received by him for compounding mixtures etc. were found to be quite inadequate to ensure proper control, or to allow of a satisfactory check being made by audit. These stores accounts were also referred to in paragraph 44 of the Audit Report for the year 1936.
82. Draft regulations for the medical store, intended to improve the existing system of accounting and to provide for better control, have been drawn up by the Auditor. The department concerned is giving the matter suitable attention.
83. Local Purchases of Drugs, etc.
It would appear also that the quantity of drugs etc. purchased locally is unnecessarily large and that local purchases might be reduced considerably by means of better organisation.
84. Local Purchases of Motor Vehicles.
The necessity for the local purchase of a motor vehicle for the Hong Kong Volunteer Force was questioned by Audit. As a question of principle was involved the matter was referred to the Colonial Office, and after further correspondence on the subject the Secretary of State laid down conditions under which local purchases would be permitted, but stipulated that in all cases a tender should in the first instance be called for from the Crown Agents.
K.-GENERAL.
85. Exchange Fund Accounts.
These accounts have been examined by the Audit Department to the 31st December, 1937, the results being entirely satisfactory. The Balance Sheet as at that date has been transmitted by Government to the Secretary of State.
86. At the end of the year Certificates of Indebtedness amounted to $182,319,502, which is equivalent to £11,394,969 at the rate of 1s. 3d. to the Hong Kong Dollar. The total assets of the Fund at the same date amounted to £12,313,938-12-4d. which was composed of cash, placed on deposit in London at call or short notice, totalling £4,493,605-1-7d. (36.5% of the total) and Investments valued at £7,820,333-10-9d. (63.5%).
87. The existence of the above assets has been verified by the Controller and Auditor General whose certificate has been examined by audit and agreed with the local records.
88. Currency Accounts.
The accounts and records maintained in connection with the issue of Currency Notes (authorized under Ord. 42 of 1935) and Nickel and Subsidiary coinage have been subjected to audit by this Department.
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Page 106
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A (2) 16
results have not been up to expectations. A recent inquiry into the system in force revealed it to be most cumbersome and unsatisfactory, and it was also found that the records kept by the Apothecary in respect of drugs received by him for compounding mixtures etc. were found to be quite inadequate to ensure proper control, or to allow of a satisfactory check being made by audit. These stores accounts were also referred to in paragraph 44 of the Audit Report for the year 1936.
82. Draft regulations for the medical store, intended to improve the existing system of accounting and to provide for better control, have been drawn up by the Auditor. The department concerned is giving the matter suitable attention.
83. Local Purchases of Drugs, etc.
It would appear also that the quantity of drugs etc. purchased locally is unnecessarily large and that local purchases might be reduced considerably by means of better organisation.
84. Local Purchases of Motor Vehicles.
The necessity for the local purchase of a motor vehicle for the Hong Kong Volunteer Force was questioned by Audit. As a question of principle was involved the matter was referred to the Colonial Office, and after further correspondence on the subject the Secretary of State laid down conditions under which local purchases would be permitted, but stipulated that in all cases a tender should in the first instance be called for from the Crown Agents.
K.-GENERAL.
85. Exchange Fund Accounts.
These accounts have been examined by the Audit Depart- ment to the 31st December, 1937, the results being entirely satisfactory. The Balance Sheet as at that date has been transmitted by Government to the Secretary of State.
86. At the end of the year Certificates of Indebtedness amounted to $182,319,502, which is equivalent to £11,394,969 at the rate of 1s. 3d. to the Hong Kong Dollar. The total assets of the Fund at the same date amounted to £12,313,938-12-4d. which was composed of cash, placed on deposit in London at call or short notice, totalling £4,493,605-1-7d. (36.5% of the total) and Investments valued at £7,820,333-10-9d. (63.5%).
87. The existence of the above assets has been verified by the Controller and Auditor General whose certificate has been examined by audit and agreed with the local records.
88. Currency Accounts.
The accounts and records maintained in connection with the issue of Currency Notes (authorized under Ord. 42 of 1935) and Nickel and Subsidiary coinage have been subjected to audit by this Department.
Page 105Page 106
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