STATEMENT OF BALANCES
EXCLUDING
Page 28.
165
SPECIAL FUNDS DEPOSITED IN THE TREASURY
131. The Statement is printed as Appendix 3 to the Accountant Ganeral's Financial Report for 1946/47. The comparative balances of assets and, liabilities given in this Statement are those at the 31st March, 1941, and not at the close of the previous financial period ended the 30th April, 1946, i.e. those appearing in the Hong Kong London Accounts Office Balance Sheet at 30th April, 1946, or taken over from the British Military Administration on that date.
132. With reference to paragraphs 101 and 102 of this report, the comments raised in connection with the General Revenue Balance account appearing in the Statement of Assets and Liabilities at 31st March, 1947, apply equally to the "General Revenue Balance", ghown in the Statement of Balances at 31st March, 1947.
133. Further to paragraphs 116 and 123 of this report, it is observed that the figure if $7,248,000 shown under Assets in the Statement of Balances as "Investments at Market Value" comprises:-
**
(a) An investment of $5,559,000 in Hong Kong Government 31% Loan,
1940, brought into the accounts at face value and not adjusted to market value at 31st March, 1947.
(b) A fixed Bank Deposit of $1,689,000 which it is considered
should be classified under Cash Balances and not.Fixed Deposits.
These points were brought to the notice of the Acting Accountant. General who agreed, generally, but stated that he did not propose to amend the Statement since it had been already printed and published.
TABULAR SUMMARIES OF UNALLOCATED STORES
134. The Tabular Summaries for the Unallocated Stores kept by the Stores Department and the Kowloon Canton Railway have not been submitted by the Accountant General for audit. In response to an enquiry on this point, the Acting Accountant General has stated that no Tabular Summaries have been prepared for 1946/47 for the reasons set out in paragraph 33 of the Accountant General's Financial Report for 1946/47. The position with regard to the Stores Department is referred to in paragraph 141 of this report. ▲ Tabular Summary of the Railway Unillocated Stores at the 31st March, 1947, was, however, forwarded by the General Manager to this Department for examination and was returned to him with the request that it
should be forwarded to the Accountant General to be included with the Tabular Summary of all Unallocated Stores as an appendix to the Statement of Assets and Liabilities at the 31st of March, 1947. The matter is being kept in view.
STATEMENT OF PUBLIC DEBT
135. The statement appears at Appendix 11 to the Accountant General's Financial Report for 1946/47. The balances outstanding at the 31st March, 1947, in respect of the 1934 issue and the 1940 issue of the Hong Kong 3% Dollar Loan amounted to $10,080,000 and $11,320,000 respectively and not $7,280,000 and $8,962,000 respectively as shown in this statement. The discrepancies of $2,800,000 for the 1934 Issue and $2,358,000 for the 1940 Issue, arise from the fact that the amounts of the Bonds due for redemption for the years 1942 to 1946 are shown in the Statement as deducted from the amounts outstanding at 31st March, 1947, for both the 1934 and 1940 Issues, though the actual drawing of
No comments yet.
Private notes are available after approval.