CO129-625-2 Finance- revenue equalization fund 1-1-1951 - 31-12-1951 — Page 11

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4. In the circumstances, therefore, I should be glad if you could arrange to include in an appendix to the estimates, a summary of the estimated "liquidity" position as at the beginning of the year to which the estimates relate. should include:-

The summary

(a) The estimated opening surplus

balandes (i.e. including the General Revenue Balance, the balance of the Development Fund, if any, and the balances of any general reserves).

(b) The amount of such surplus balances which are immobilised (e.g. by

advances in anticipation of raising a loan, advances for bulk purchases, etc.).

(c) Any other items affecting the

"liquidity" position.

(a) The resulting "free" surplus (i.e. that part of the surplus which can be made readily available).

!

It would further assist me in the examination of this particular aspect of the annual estimates if you could make a point of discussing in your despatch any important conclusion to be drawn from the state of the surplus balance.

5.

This Circular has not been addressed to the Government of Malta or to the

Commissioner General, Singapore.

I have the honour to be,

Sir,

Your most obedient, humble servant,

James Enfilh

M