Financial report of the Palestine Zionist Executive · 1929-01-01 · 16 (1929) · p. Seite 13

adequate reserve for amounts which might prove incollectable. It was impossible to make an exact valuation of these investments but after due consideration it was estimated that a reserve of round LE : 400,000 should be set aside against the above investments. The reserve is calculated as follows: 30% of agricultural investments about LE: 250,000 50% of loans 135,000 Other investments 15,000 Total : LE : 400,000 As mentioned above a further reserve of LE : 25.000 was made to cover possible losses in guarantees and the collection of outstanding debit balances. Moroever a special reserve of LE : 13,354.612 has been made against the item of LE. 16,946.502 debtors of the Education Department for arrears due for school fees and contributions of colonies. The difference between the above two figures was collected during the current budget year. Detailed explanatory notes on the expenditure of the different Departments of the Palestine Zionist Executi ve are submitted by the Departments* 13