What AG’s report says on Penang

(Harakah Daily) – The Penang state government continues to be in the good books of the Auditor General, who commended its improved financial position in 2010 compared to 2009.

According to the latest AG report, Penang’s consolidated revenue grew by 2.7 percent, from RM1,101.89 million for 2009 to RM1,131.17 million in 2010. The consolidated cash reserve rose by 6.2 percent to RM572.49 million, up from RM538.95 million in 2009.

“The state’s revenue for 2010 has increased by RM34.19 million or 9.1 percent compared to 2009 from RM376.51 million to RM410.70 million,” observes the report.

The AG advises the state government to make better investment analysis as a way to increase dividends.

“Besides that, the state government is also urged to continue its effort to collect arrears in revenue amounting to RM78.78 million at the end of 2010 from land tax, loan repayment to students, rental of houses, shop lots and so on,” the report adds.

On development under the Ninth Malaysia Plan, the AG rates the state’s performance as satisfactory with a total of RM787.17 or 77.8 percent being spent from the allocated RM1.01 billion.

In terms of implementation of projects, the report hails the state’s performance as ‘very good’ with 99 percent of the 9,003 projects successfully carried out.

The report concludes that the financial management of state agencies remained good for 2010.

“In 2010, 3 agencies are in ‘very good’ category like 2009. 10 agencies are considered ‘good’ and one at satisfactory level,” it says.

For three successive years, 13 state agencies audited at least twice between 2007 to 2010 have showed ‘very good’ financial management by the state treasury and development body.