TNAG-2472-FCO40-3599-Confidential-talks-between-the-UK-and-China-regarding-financ-1992 — Page 13

M

THE STRUCTURE OF THE COVERNMENTS ACCOUNTS

Paber 3 (P.I of 4)

General Revenue Account and the Funds

E

The Government controls its finances through a series

of accounts.

The General Revenue Account is the main account for

day-to-day departmental expenditure and revenue

collection.

Three other Funds exist mainly to finance capital expenditure, investments and to make loans They are respectively the Capital Works Reserve

Fund the

Capital Investment Fund, and the Loan Fund.

General Revenue Account (GRA)

To it is

This is the main · Government account.

credited revenue from taxes, and fees and charges for services and other sources except for revenue accruing to the Funds (e.g. land sales revenue). 90% of revenue accruing to the Government is credited to

the GRA.

Expenditure

incurred on maintaining Government services, including personal emoluments, the purchase of goods and services, are charged to the GRA.