CO129-605-1 Annual Accounts- 1946-7 9-9-1948 - 14-3-1949 — Page 56

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for 1946/47, and, with the exception of the adjustment of part of the balance on the account "Transactions requiring adjustment" (£1,266,13.10), the balances of all the Advance Accounts at the 30th of April, 1946, remained unchanged at the 31st of March, 1947. In addition, the amounts shown in the Hong Kong London Accounts Office Balance Sheet as "Cash for the Finance Liaison Officer, Australia £100", and "Hong Kong Accounts Office, London £5", have also been brought into the accounts for 1946/47 as Advances and remained outstanding at the 31st of March, 1947. The account "Foreign Office H.M. Consul, Macao £433,720-0-0d." in the Hong Kong London Accounts Office Balance Sheet at 30th April, 1946, which was brought into the Colony accounts in the first instance as an advance, was subsequently transferred to a Suspense account and this balance stands outstanding at 31st of March, 1947, and is so classified in the Statement of Assets and Liabilities at that date.

113. Further information regarding the uncleared balances from the London Accounts Office Balance Sheet, and certain other advances arising during the financial period under review, and the reasons for the delay in clearing these accounts are at present under investigation by this Department.

LOANS TO LOCAL BODIES - $730,000

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$250,000" 114. It appears that the loans to the "Fisheries Co-operative and the "Hong Kong University - $480,000" shown in the Statement of Assets and Liabilities at the 31st March, 1947, should have been met from voted expenditure in accordance with paragraph 4 of the Secretary of State's Circular Despatch of the 25th November, 1937. The matter was brought to the notice of Government and the Acting Accountant General agreed with this view but information is awaited as to what action Goverment proposes to take in this connection. With reference to paragraph 125 of this report, the attention of the Accountant General was also drawn to the fact that details of these Loans have not been included in the "Statement of Loans payable to the Colony at 31st March, 1947" (Appendix 4 of the Financial Report) and he has been asked to supply the relevant particulars called for in this Statement. The Acting Accountant General has advised that he is unable to trace any loan agreements covering these loans and further information is awaited.

INVESTMENTS

115. Included under Investments in the Statement of Assets and Liabilities at the 31st of March, 1947, (Appendix 1 of the Financial Report) is cash held on current accounts at the Hong Kong and Shanghai Bank, Hong Kong, and coins at the London Branch of the same Bank as follows:-

(a) Note Security Fund

(b) Subsidiary Note Security Fund (o) Nickel Coinage Security Fund,

Rong Kong

London (Coins)

(d) Supreme Court

$3,392,092.57 1,163,438.65

1,800.08 479.60 851,726.16

In the Statement of Balances (excluding Special Funds deposited in the Treasury) at the 31st March, 1947, (Appendix 3 to the Accountant General's Financial Report for 1946/47), however, the balances on these Accounts are shown as "Cash Balances" and in the Statement of

Special Funds Deposited in the Treasury (Appendix 2 to the Accountant General's Financial Report for 1946/47) they appear to be included in the figures given for "cash in hand of Accountant General" on behalf