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16.14
16.15
the financial year in question, the phrase "subsequent year" usually refers to the year commencing 12 months after the date of the surplus eg the General Revenue Balance at 31 December 1977 will normally be taken into account in determining the amount of the grant for 1979. If however it is known sufficiently early that there will be a surplus at the end of any given financial year, the surplus can be taken into account in determining the amount of the grant for the immediately following year. The Public Accounts Committee has objected to the use of budgetary aid to accumulate surpluses and this will not normally be allowed unless specifically agreed when a recipient Territory looks like emerging from budgetary aid.
16.14
ESTIMATES: GENERAL
16.14.1 The submission of estimates and other financial documents by the Government of a grant aided DT is no different in principle from the submission required from all DTs (see Chapter 15); but since the object is that funds should be issued by HMG in good time to support the finances of the recipient Territory, the estimates and other documents should be submitted well in advance of the period to which they relate. This facilitates proper examination in London and enables financial provision to be obtained in UK estimates. Instructions are issued to Territories from time to time about the time-table for the submission of estimates. If there is any doubt about the time-table, reference must be made in good time to Finance Department, ODM. It is essential that estimates implying a need for budgetary aid should be considered without delay in the FCO and ODM.
16.14.2 Certain basic information is essential for consideration of the grant. This information, which
can be submitted by the DT in the form of a saving telegram, is
Detailed draft estimates of revenue and expenditure for the forthcoming financial year for both capital and recurrent budgets
Revised estimates of revenue and expenditure for the current year to the latest possible date
Actual figures for the latest available year
Where a block grant system exists the following additional information is required:
Forecast figures for the succeeding two financial years, by heads of revenue and expenditure, with explanations of any significant variations
A statement of assets and liabilities for the latest available year, together with an estimate of the General Revenue Balance at the end of the current Financial Year.
16.15
ESTIMATES: PROCEDURE
16.15.1 On receipt of the estimates, the DT geographical Department, in collaboration with the Economic Planning Staff, should carry out a full analysis of the proposals. It is not necessary
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