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I refer to the letter, "Expectations for Budget in March" (?3???????), by Mr Wang Yuan Long (???) on 05 January 2008.

2. Ministries are accountable for spending the budget allocated to them efficiently and effectively. They are required to seek relevant levels of approval for the expenditures to ensure that the needs are justified. As part of the discipline in managing the budget and expenditure, it is necessary that Ministries had properly scheduled the utilisation of their allocated budget. However, recognising that there could be good reasons for certain expenditures to be deferred, Ministries are allowed to carry a proportion of their unspent allocated budget into the next year.

3. The Government emphasises the efficient and effective utilisation of public monies in achieving our objectives. The MOF conducts regular reviews with ministries to ensure that their objectives are achieved in a cost-efficient manner. This is on top of the regular audits conducted by the Auditor-General's Office to ensure accountability for the use of public funds.

LEE KOK FATT
DIRECTOR (FISCAL POLICY)
MINISTRY OF FINANCE