Committee Reports > List of Committees > Dáil > 1960 > Committee of Public Accounts > Report - Appropriation Accounts 1958 - 1959

APPENDIX XXII.

VALUATION OF POST OFFICE ENGINEERING STORES.

Cléireach,

An Coiste um Chuntais Phoiblí.

During my examination before the Committee of Public Accounts on the 20th January, 1960, I undertook to furnish a note in respect of the figures shown in Appendix II for value of stores held.

The figures in Appendix No. II showing Receipts and Issues of Engineering Stores for the year ended 31st March, 1959 are firm and the figure shown for the Value of Stores in hand on 31st March, 1959 will be the opening figure in the corresponding appendix to the Appropriation Account for 1959/60.

The differences between the figures shown for the value of stores on hand on 31st March, 1958 and on 31st March, 1959, and those for the estimated value of stock on the same dates shown in Appendix E to the Estimate for 1958/59 arise from difficulties of forecasting. In Appendix E, a number of estimates are, in effect, amalgamated, viz., an estimate of the value of stores to be purchased plus freight and handling charges, an estimate of the value of stores to be drawn from Telephone Capital Reserve Stock, an estimate of the stores which will be needed for both Capital and Vote work and an estimate of sales of stores. All of these estimates are liable to considerable variation and the estimated value of stores at the end of a year, which is a residual figure, is all the more liable to error. When the estimates for 1958/59 were being prepared in October, 1957, the only firm figure available was the value of stock on the 1st April, 1957. The value of stock on the 31st March, 1958 had to be estimated on the basis that the engineering programme for the year would be carried out. In fact, it was not possible to carry out a considerable part of it, because of bad weather and stores drawn from stock were almost £300,000 less than had been expected. This variation affected the 1958/59 estimates and is largely responsible for the difference of £390,000 between the estimate of the value of stores on hand on 31st March, 1959, as shown in Appendix E to the Estimate and the ascertained value as shown in Appendix No. II to the Appropriation Account: the remainder being attributable to variations arising in the year of account.

An Roinn Poist agus Telegrafa.

23 Feabhra, 1960.