• Thu
  • Jul 31, 2014
  • Updated: 7:39am
NewsHong Kong
AUDIT COMMISSION

CreateHK criticised for lack of monitoring over HK$600m grant fund

PUBLISHED : Thursday, 17 April, 2014, 4:01am
UPDATED : Thursday, 17 April, 2014, 4:58am

The agency subsidising creative projects in Hong Kong has come under fire from a government watchdog for inadequately monitoring how grants from a HK$600 million fund of taxpayers' money are spent.

The Audit Commission also said that CreateHK, the government department which promotes the development of creative industries, was not doing enough to guard against conflicts of interest among panel members vetting grant applications.

Despite having the authority to inspect the books of organisations receiving grants, CreateHK had not done so in the five years of its existence, the commission's report, released yesterday, said.

Set up in June 2009 to subsidise non-profit-making creative projects in such areas as design, digital entertainment, music, publishing and television, the agency had by November last year approved 165 applications totalling HK$323 million.

The report said awardees should keep records for seven years instead of two, as currently required.

It found that records such as balance sheets were missing for some projects, while in other cases documents supporting expenditure could not be found.

Twelve of the 15 projects examined also did not keep a designated bank account while HK$580,000 in unspent funds from the 15 projects was not returned to the government.

Site visits to monitor projects were few and brief, project completion reports were often late or missing and information reported by awardees was not verified.

The report said the agency had also failed to take adequate action in requiring members of its vetting committee to hand in a declaration of interests.

Many members of the committee failed to hand in their declarations because they were sent the forms only one to six days before their terms began, the report revealed.

In one case, the chairperson of an assessment panel set up in May last year did not hand in the declaration until February this year when the Audit Commission raised the issue.

Project papers were also sent out to members who hadn't declared their interests.

"CreateHK needs to ensure that project documents are only circulated to members who have … declared no conflict of interest with the projects concerned," the report said. It also said that CreateHK needed a better system to identify repeat projects.

CreateHK agreed with the recommendations of the audit.

 

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This article is now closed to comments

rpasea
CY: shut down CreateHK asap.
dynamco
BUCK STOPS HERE:
Govt announced the appointment of Mr Jerry Liu Wing-leung as Head of Create HKg (CreateHK) following the completion of an open recruitment exercise. Over 150 candidates applied for the post. Mr Liu will assume the office on March 22.
Aged 51, Mr Jerry Liu Wing-leung has pursued a career in the film and television-related industry for over 25 years. He is one of the co-founders of the Media Asia Group of companies + has served in various senior positions in the companies. The group is one of Hong Kong's leading producers + distributors of Chinese language films.
Mr Liu was the Chief Executive Officer of Media Asia Entertainment Group Co. Ltd. from 2001 to 2005, focusing on business development. He also oversaw the group's operations in production and co-production, marketing + publicity, distribution and sales of films including the "Infernal Affairs" trilogy and "Initial D".
Before joining Hong Kong Cable Communication Limited as the Planning Manager responsible for developing the financial model for the programming of channels in 1989, Mr Liu was the consultant on the financial and programme planning of Hutchison Cablevision Ltd.
Mr Liu graduated from Vassar College in New York with an honours degree in drama in 1980.
Friday, March 19 2010
WAAH: so they give money to the film industry – has anyone ever done a search ‘HK film industry Triad’ ? gee whiz
gangstersinc.ning.com/profiles/blogs/hong-kong-triads-and-their-lucrative-movie-industry
 
 
 
 
 

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