GEORGE TOWN: Penang has been awarded with the Clean Audit Certificate in the Auditor General's Report 2022, which was released earlier today.
Chief Minister Chow Kon Yeow said this proved that the state government maintained financial management with integrity.
"Through the recognition received, it proves that the state government managed to maintain the Clean Audit Certificate as in previous years.
"According to the Auditor General's Report on the financial statements of the state government and state agencies, as well as the compliance of the state departments and agencies in 2022, a copy of which was submitted to me by the state Audit Department director, shows that the financial performance of the state government is still strong with the accumulated balance of the consolidated fund at the end of the current year amounted to RM1.859 billion compared to RM2.117 billion at the end of 2021.
"In 2022, a total of 2,420 projects were planned for implementation, and of these, 2,332 projects or 96.4 per cent had been fully completed," he said today.
Meanwhile, Chow said the state government's public debt, which consists of debt to the federal government to finance development projects, showed a balance of RM41.11 million at the end of 2022 compared to RM45.41 million (2021), a decrease of RM4.30 million (9.5 per cent).
He said the decrease in related debt was due to no new loans being taken and loan repayments made according to schedule.
"In fact, I was also informed that the state government recorded no new loans from the federal government since 2016.
"I represent the state government in thanking the Auditor General and the state Audit Department for the Clean Audit Certificate
"My heartfelt appreciation also goes to all state and federal agencies for their full cooperation in realising the recognition received.
"The state government will continue to strive to find new revenue in strengthening the state's development performance," he said.