39
Page 27.
of this Statement. The Loans are recorded, however, in the Building Loans Register although full details of each loan are not given and it was necessary to refer to the audited accounts for 1939 to complete the verification. From this source it was ascertained, and the Acting Accountant General has since confirmed, that the date of loan to the Diocesan Boys School should be 28th January, 1927, and not the 28th January, 1937, as shown in the published statement.
125. It was ascertained from the Treasury Rent Register that there was a Trade Loan to Tsang Hin Ting outstanding at 31st March, 1947, amounting to $68,021.41 which has not been included in the Statement of Outstanding Loans. Further, as stated in paragraph 114 of this. report, the loans outstanding at the 31st March, 1947, to the Fisheries Co-operative of $250,000 and Hong Kong University $480,000 have also not been included in this Statement.
126. The points raised in paragraphs 124 and 125 of this report have been brought to the notice of the Acting Accountant General who has confirmed that there are no other loans payable to the Colony at the 31st March, 1947, and that a register will be opened to record full details of all loans made by Government.
STATEMENT OF SPECIAL FUNDS DEPOSITED IN THE TREASURY.
127. The statencat appears as Appendix 2 to the Accountant General's Financial Report for the period ended 31st March, 1947. Further to the comment made in paragraph 4 of this report, apart from the Nickel Coinage Security Fund, the balances of the Funds shown in the Hong Kong London Accounts Office Balance Sheet at the 30th April, 1946, and the Statement of Assets and Liabilities incorporating local 1941 Balances (Appendix 5 and Appendix 7, respectively, to the Accountant General's Financial Report) have also been shown as receipts for 1946/47 and not as balances on the 1st of May, 1946, in the Statement of Special Funds.
128. As regards the Nickel Coinage Security Fund, there is a discrepancy of $90.66 (£5.13.4d.) between the Hong Kong dollar equivalent (i.e. $1,651,234.93) of the balance shown in the London Accounts Office Balance Sheet at the 30th of April, 1946 ($103,202.3,8), and the balance at the 1st of May, 1946, shown in the Statement of Special Funds (81,651,144.27). This discrepancy is referred to at
paragraph 90 of this report.
129. With reference to paragraph 120 of this report the investments on behalf of:-
(a) Chinese Public Dispensaries Fund
$6,000
(b) District Watchmen Fund
$58,000
(c) Passage Money Fund
(d) Education Scholarships and
$6,000
$54,000
are shown at face value and are, therefore, not correctly described as "Investments at Market Price" in the Statement of Special Funds, etc.
130. As regards the amount of 880,920,000 shown as "Investments held at Market Price" on behalf of the Banking and Insurance Companies Fund, it was pointed out in paragraph 121 of this report that this figure reflects the face value of the investments held on behalf of this Fund and that these investments were not revalued at the market value at the 31st of March, 1947.
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