AnnualReport-1938 — Page 132

89.

A (2) 16

1. STATEMENT OF ASSETS AND LIABILITIES.

The excess of Assets over Liabilities at the 31st December, 1938 was

While that at the end of the previous year was

Showing a reduction of

ASSETS.

Cash Accountant-General $422,048.64.

The above sum was composed of the following items:-

00.

Bank balances $13,562,234.97

Cash balances :-

Accountant-General's Office $440,043.14

Kowloon-Canton Railway $380,404.48

Official Receiver $39,140.22

Medical Department $2,013.85

$595

113.84

$376.25

14,002,278.11

Verification of Cash Balances etc.

91

(a) Bank Certificates have been produced in support of the balances of the various Bank Accounts and, with the exception of the last three items shown above, the existence of the cash balances on 31st December, 1938, was verified by Boards of Survey whose certificates were seen. As regards the exceptions mentioned, cash certificates, signed by the Heads of Departments concerned, were submitted for inspection.

(b) The existence of the Cash Balances, Sinking Fund and other Investments held by the Crown Agents, has been verified with the certified statement rendered by the Comptroller and Auditor-General.

(c) Fixed Deposits-The receipts obtained from Banks for sums appearing under this head have been seen by Audit.

Advances Miscellaneous ($53,443.81).

The

92

The balance at the end of the previous year was $220,148.51. The reduction is due mainly to the refund by the Imperial Government of the sums advanced to the Shanghai Refugee Committee, to which reference was made in paragraph 62 of the 1937 Audit Report.

93. It has been verified that, with the exceptions noted below, no advances have been outstanding for an unduly long period. They are mainly of a routine nature and need not be specially commented on. A detailed statement of advances is attached as Enclosure 9.