• Sun
  • Aug 24, 2014
  • Updated: 1:05am

Audit finds funds malpractices

PUBLISHED : Friday, 19 November, 2004, 12:00am
UPDATED : Friday, 19 November, 2004, 12:00am

Malpractices in four government departments were revealed when the National Audit Administration announced its latest audit results yesterday.


They were the ministries of personnel and railways, the China Council for the Promotion of International Trade and the China International Publishing Group.


The Ministry of Personnel misused revenue of more than 5 million yuan from previous fiscal years to buy cars and residential apartments for its staff and failed to report them in its budget, the audit administration said in the report.


The Ministry of Railways applied to the Ministry of Finance for a budget of 23.88 billion yuan, but its actual projects cost only 18.26 billion yuan. That created a gap of 5.62 billion yuan which the Ministry of Railways either used on projects which had not been approved or kept in its own reserves, the report said.


By the end of last year, the ministry had 1.72 billion yuan of unused budget funds in its reserves, in contravention of state financial regulations.


Problems had also been unearthed in the Ministry of Railways' management of state assets and its application of budget money to the construction of residential property projects.


The report found irregular accounting conduct at the trade promotion council and the misuse of its budget to raise staff bonuses and perks.


It said the publishing group transferred about 2 million yuan, budgeted for a book project, to set up a profit-making test centre and moved other funds to several training and service centres.


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