CO129-605-2 Annual Accounts- 1947-8 22-7-1949 - 20-9-1949 — Page 19

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COLONIAL DEVELOPMENT AND WELFARE ACCOUNTS

VERIFICATION OF ASSETS

on the findings of the Board, and he had seen no reconcili-

ation between the stocks and ledger balances and the

financial balances appearing in the Treasury books at 31st

March, 1947, and 31st March, 1948.

14. With reference to paragraph 31 of my last Report, the

Director of Audit reports that the lists of stores referred

to therein are still awaited.

15. The balance of stock on hand in the Kowloon-Canton

Railway Unallocated Stores at 31st March, 1948, as shown in Statement 11 of the Accountant General's Report, was

$350,843. 78. So far as I am aware, the maximum standard

stock of $175,000 authorised in the Secretary of State's

despatch No. 255 of 30th June, 1933, has not been increased,

and I have not seen his approval for the excess of

$175,843.78.

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16. The asset "Advance s Other Administrations

$1,305,281.48* includes two items totalling $45, 297.99,

which are apparently chargeable to Hong Kong funds. The

Director of Audit states that it is proposed to make the

necessary adjustments and that the matter will be kept in

view. This asset also includes expenditure in respect of

Colonial Development and Welfare Scheme R.94 of $5,875.63,

which should have been charged to final expenditure and

recorded in a footnote to the Statement of Assets and

Liabilities as recoverable from Colonial Development and

Welfare funds in accordance with the authorised accounting

procedure. The Director of Audit has brought the matter to

the notice of the Accountant General.

17.

Following the procedure laid down in the Secretary of

State's Circular Despatch of 9th December, 1938, the

Securities and Cash Balances, recorded in the Accounts as

rendered, which were held by the Crown Agents for the

Colonies ....