The Penang state administration has hit a record high in state revenues for the second time this year, collecting RM1.1 billion in accumulated funds (the accumulated funds are a combination of the revenue accounts, loan accounts and trust funds) for the whole of 2009 compared with RM1.025 billion collected in 2008, surpassing the billion-ringgit mark for the first time.
In 2007, under the previous BN state government, the accumulated funds were at RM847.45 million.
In the recently-released 2009 Auditor-General's Report, Penang - the only Pakatan state to receive the 'baik' (good) accreditation in their financial standing - also collected 29.1 percent more in actual revenue. bringing the total revenue collection to RM376.51 million from previously, RM371 million in 2008.
The revenue collection showed the most signficant jump from RM296 million in 2007 to RM371 million in 2008.
In 2007, under the previous BN state government, the accumulated funds were at RM847.45 million.
In the recently-released 2009 Auditor-General's Report, Penang - the only Pakatan state to receive the 'baik' (good) accreditation in their financial standing - also collected 29.1 percent more in actual revenue. bringing the total revenue collection to RM376.51 million from previously, RM371 million in 2008.
The revenue collection showed the most signficant jump from RM296 million in 2007 to RM371 million in 2008.
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