IITU
11
M
ULU
JETJ
Paper 3 (1.3 of 4)
Loan Fund
Loans, as opposed to long
to
investments, term various bodies are met from this Fund. They include
loans
the Industrial Estates Corporation, to to civil servants to voluntary educational bodies, assist
and toward home purchase,
to
to students in
tertiary education.
Interest and loan repayments are credited to the
Fund.
Transfers from the General Revenue to the Funds
The revenue accruing to the
is the above three funds
usually not sufficient to cover expenditure from the Funds. Transfers are made from the GRA from time to
time.
The level of transfers, which have to be approved by the Legislative Council in annual appropriations, is such as to cover the net expenditure of the Funds and to maintain adequate fund balances.
Lotteries Fund
This Fund receives the net proceeds of the Mark Six Lotteries. Since these moneys are credited directly to the Fund (under the Government Lotteries Ordinance), the Fund is not regarded as forming part of Government's consolidated accounts. The Fund has to date been used for grants and loans mainly for the purpose of financing capital projects associated with the provision of social welfare services.
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