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Audit Report: Selangor financial performance good, reserves of RM2.91 billion

KUALA LUMPUR, 10 Nov: The Auditor-General’s Report praised the Selangor Government’s financial situation, which is deemed to be good, when it recorded a balance of the Consolidated Fund amounting RM2.91 billion for 31 December 2013.

Apart from that, Selangor also recorded an increase in investment amounting RM343.88 million (15.4 million) and revenue collection of RM195.16 million (10 percent).

8.1

“The state government has been advised to practice prudent spending continuously and only spend according to need,” he said.

The Selangor government also recorded an increase in the Recoverable Loan balance, with an achievement of 67.9 percent compared to 2012.

However, the Auditor-General, Tan Sri Ambrin Buang, reprimanded the decrease in Recoverable Loan arrears of 9.6 percent.

Also recording a decline is public debt of 1.6 percent and debt repayment arrears with 14 percent in 2013 compared to 2012.

8.2

“Efforts must be increase to collect Recoverable Loan and the arrears of revenue/repayment of loans/other debt from government departments and agencies so that the state government financial situation is always strong,” he said.

Overall, the state government ended the 2013 financial year with a deficit of RM90.45 million, but the accumulated surplus of the State Government Consolidated Revenue Account is still high at RM1.09 billion at the end of 2013.

NS


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