CO129-552-3 Annual abstract account- 1933-4 1-1-1933 - 14-8-1936 — Page 7

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special loan advances account,

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28/7/36

No.3456/5.

Mr. Walker,

When dealing with the 1934 account I was

satisfied that eventually authority was obtained

for the 1934 loan expenditure, and the intention

of paragraph 3(a) of my 1934 report at No.3. was

to record that the accounting procedure laid down

in Colonial Regulation 281 had not been followed.

The $14,000,000 is an instalment of the

$25,000,000 authorised to be raised under the

Loan Ordinance (No.11 of 1934).

With reference to the final paragraph of

the enclosure to No.6, the excess expenditure

of $217,067.30 is not shewn as an advance in

the Statement of Assets and Liabilities at

31.12.34 but as an asset "Dollar Loan Account".

I see no reason why Colonial Regulation 281

should not be complied with in this case, and I

agree with the action you propose.

Please let me have a copy of the despatch

that is sent.

Q1. Harding

Director of Colonial Audit.

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