2
8
STATEMENT OF
5.
ASSETS AND
LIABILITIES.
VERIFICATION OF ASSETS.
STORE ACCOUNTS.
The Director of Audit has not been able to
reconcile the asset account "Suspense Kowloon Canton
Railway, $223,041.60" completely with the recorda
maintained by the Kowloon-Canton Railway, and he has
sought further information from the General Manager of
the Railway.
6.
With reference to paragraph 4 of my last Report,
the Director of Audit states that, at the time of writing
his Report, arrangements under which the Water orks
Renewals and Improvements Fund will be operated in future
were under consideration. In the absence of rules
relating to the Fund, he has again been unable to
ascertain that contributions to the Fund have been
correctly calculated, or to verify the authority for
expenditure charged to the Fund.
7. Following the procedure laid down in the Secretary
of State's Circular Despatch of the 9th of December 1938,
the Securities and Cash Balances, recorded in the Accounts
as rendered, which were held by the Crown Agents for the
Colonies at the 31st of March 1950, have been verified
from the Certificates rendered by the Crown Agents for the
Colonies without endorsement by the Comptroller and
Auditor General.
8.
With reference to paragraph 8 of my last Report,
• no Boards of Survey were held during the year on the
Allocated and Unallocated Stores held by the Central Stores
Department, as required by Colonial Regulation 344.
9.
The stocks held by the Central Unallocated stores
on the 31st of March 1950, exceeded the Standard Stock of
$1,000,000 by $15,961,136.14.
I have not seen the
approval of the Secretary of State for the exceds.
10.
•
Page
Page
PROGRAMME
OF WORK.
10. The approved Programme of Work has been
completed with the exception of a number of subsidiary
and departmental accounts.
P
Mülliyi
Director General of Colonial Audit.
23rd July 1951.
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