CO129-623-3 Supplementary Expenditure- general correspondence on the allocation of funds and an annual report for the... 1-3-1950 - 30-9-1950 — Page 28

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HONG KONG

ANNUAL REPORT

BY THE

ACCOUNTANT-GENERAL

FOR THE YEAR ENDED THE 31ST MARCH, 1949.

The Treasury,

Hong Kong,

27th January, 1950.

Sir,

I have the honour to submit my report on the accounts and finances of Hong Kong for the year ended 31st March, 1949, together with the following Appendices:-

I. Statement of Assets & Liabilities.

II. Statement of Special Funds.

III. Statement of Balances, excluding Special Funds.

IV.

Statement of Outstanding Loans made from Revenue.

V. Statement of Revenue under Heads & Sub-heads as compared

with the Estimates.

Statement of Expenditure under Heads & Sub-heads as com.

pared with the Estimates.

VI.

VII.

VIII.

Statement of Public Debt.

Statement of Loan Expenditure.

IX. Statement of Investments.

X. Statement of Kowloon-Canton Railway, Unallocated Stores

Account.

XI. Statement of Funds held by the Registrar, Supreme Court. XII. Statement of Currency Funds.

REVENUE & EXPENDITURE COMPARED.

2. The following figures show how the actual revenue and expenditure totals compare with the Estimates:-

Revenue

Expenditure

Surplus

Estimates

$151,407,950

150,284,105

Actual

Increase

$194,933,955 $ 43,526,005 159,954,023 9,669,918

$ 1,123,845 $ 34,979,932 $ 33,856,087

Add Net Appreciation of Investments

Total Surplus for year

100,355

$ 35,080,287

It will be seen that revenue exceeded expenditure by $34,979,932 to which must be added the net appreciation of $100,355 arising from the revaluation of investments to middle market value at the 31st March, 1949, making the actual surplus for the year $35,080,287. The General Revenue Balance (Surplus) which stood at $37,063,396 at the beginning of the year was thus increased to $72,143,683 at the 31st March, 1949.

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