14-OCT-1992 12:08
FB GS
+ 852 868 5279
P.34
Paper 5 (8 6 046)
Capital Expenditure
18.
paragraphs
16
applies
to
the
Roughly the same procedure as that described in
and 17
allocation of resources in respect of capital expenditure (much of which is met under the Capital Works Reserve Fund). The major difference is that resources are allocated to
to specific projects with individual project estimates approved by the It is these Legislature (or under delegated authority). project estimates which form the basis of our expenditure control, for they limit the amount of provision that is made available from time to time. The draft annual
Estimates of Expenditure on Capital Account merely reflect the anticipated cash-flow requirements in respect of the projects with approved project estimates.
Finance Branch
Government Secretariat
12 October 1992
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