By Nazli Ibrahim
SHAH ALAM, Nov 5 — The Selangor government’s financial position records an increase of 4.93 per cent from RM2,135.37 per cent in 2018 to RM2,240.66 as of September 30 this year, the state assembly was told today.
Menteri Besar Amirudin Shari said the amount includes RM23.83 million in cash and RM2.216.83 million in investments.
“The reserve fund was through the receipts of the Consolidated Revenue Account, Consolidated Trust Account and Consolidated Loan Account.
“As of 30 September 2019, the state has RM2,240.66 million in its reserves, which includes the Consolidated Revenue Account of RM828.79 million, Consolidated Trust Account of RM1,401.78 million, and Consolidated Loan Account of RM10.09 million,” he said at the state legislative assembly, here today.
He said the state government would continue to increase the reserve fund by improving its efficiency in revenue collection, prudent in its operating and development expenditure, as well as improving the financial position of the Consolidated Revenue Account.
“The state always stresses on the principles of transparency and good governance as well as accountability in the management of funds to ensure that the value and quality of the expenditure are reflected in all matters through a holistic approach.
