Terengganu Govt S Financial Performance Not Stable Says Audit Report

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Auditor-General Nik Azman Nik Abdul Majid.KUALA TERENGGANU: The financial performance of the Terengganu government is not stable, the auditor-general said
According to the report on the state government’s financial statement and the financial performances of the state agencies for 2018, the balance of the Consolidated Fund at the end of 2018 had dropped by RM9.08 million to RM154.67 million, compared to RM163.75 million in 2017
‘’The Consolidated Revenue Fund account shows a current deficit of RM80.24 million,” Nik Azman Nik Abdul Majid said in his report
“With this, the balance of the Consolidated Revenue Fund account at the end of 2018 experienced a deficit of RM2.61 million compared to a surplus of RM77.63 million at the end of 2017.”The report was tabled in the Dewan Rakyat on Nov 4 after it was consented to by the Yang di-Pertuan Agong Sultan Abdullah Sultan Ahmad Shah and subsequently receiving the consent of Terengganu’s Sultan Mizan Zainal Abidin for tabling in the state assembly today
The report also noted a revenue collection drop of RM280.34 million or 13.5%, bringing it to a total of RM1.793 billion, compared to RM2.073 billion previously
It said management expenditure before transfer to the Development Fund, amounting to RM1.248 billion, fell RM85.30 million or 6.4%, compared to RM1.333 billion in 2017
Total public debts dropped by RM173.81 million or 19.2% to RM733.13 million (RM906.94 million in 2017) and public debts repayment arrears by the state government dropped by RM113.96 or 21.3% to RM422.12 million (RM536.08)
The state government’s financial statement ending Dec 31, 2018 had been given an “Opinion Without Reprimand”, the report said
It said the statement showed a true and fair picture of the state’s financial position, and the accounts had been maintained in an orderly manner and updated
In addition, 15 of the 16 state agencies had submitted their financial statements to be audited. - FMT

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