CO129-607-3 Revenue Reward Fund 11-11-1948 - 12-12-1948 — Page 34

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103. During the audit examination of the Accountant General's Main Ledger, it was observed that the General Revenue Balance Account had. not been written up in accordance with the procedure set out in the Secretary of State's Circular Despatch of the 25th of November, 1937, and that the excess of revenue over expenditure, or expenditure over revenue, in each month of the financial period under review had been entered in the General Revenue Balonce account while at the same time the monthly revenue and expenditure figures had been entered in the Revenue account and Expenditure account respectively. In effect, therefore, the monthly totals for revenue and expenditure were each entered twice in each month in the Main Ledger. At the 31st March, 1947, the revenue account showed a credit balance for the total revenue of $82,141,556.04, and the expenditure account a debit balance for the total expenditure of $85,622,390.78 which had already been incorporated in the General Revenue Balance Account. The matter was brought to the notice of the Accountant General, and the balances in the revenue and expenditure accounts were transferred to a newly opened Surplus and Deficit account. The General Revenue balance account was rewritten and the balance of the Surplus and Deficit account transferred there to in accordance with the procedure set out in the Secretary of State's Circular despatch referred to above. To this extent the details in the published accounts do not accord with the accounting records.

ASSETS.

104. The cash balances hold by the Crown Agents for the Colonies (813,153.40) deposits lodged in the Joint Colonial Fund ($4,304,000) and Investments at the 31st March, 1947, have been verified in accordance with paragraph 5 of the Secretary of State's Circular Despatch of the 9th of December, 1938. The Certificate of the Comptroller and Auditor-General was given only in respect of the balances hold at the 31st December, 1946, and not at the end of the financial period (31st March, 1947).

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$14.594.159.06.

105. Cash in Hand

The balances on Treasury No. 1 Account ($9,138,708.28) and Treasury No. 2 Account ($1,138,297.38), shown in the Statement of Assets and Liabilities at 31st of March, 1947, have been verified with the relevant certificates from the Hong Kong & Shanghai Banking Corporation. A Board of Survey appointed to survey the Cash and Bank balances at the Treasury on the 31st of March, 1947, reported cash on hand on that day amounting to $795,703.56 which was actually paid into the Bank on the 1st April, 1947. In the Statement of Assets and Liabilities of the 31st March,

1947, however, cash on hand has not been shown separately but is included, together with the actual Bank: balance amounting to $8,343,004.72, under the item "Treasury No. 1 Account $9,138,708.28".

106. Imprests $90,165.09. The balance shown in the Statement of Assets and Liabilities at the 31st of March, 1947, comprises two small balances on departmental Imprests amounting to $1,118.40 which were not retired at the 31st of March, 1947, and an amount of $89,046.69 in respect of the sum of Rupees 50,000 advanced to the Hong Kong Government Agent in Calcutta. The Acting Accountant General stated that the two departmental Imprest balances were retired after the close of the financial year but that certificates of the balances on hand at the 31st March, 1947, were not obtained, from the lepartmental officers concerned. As regards the balance of $89,046.69 in the hands of the Government Agent at Calcutta, the Acting Accountant General advised that this was incorrectly classified under Imprests in the 1946/47 accounts and that the balance has been transferred to an Advance Account in the accounts for May, 1948.

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