Auditor General's Report on the Public Accounts of Montserrat 2004

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CHAPTER 2 2.0 FINANCIAL STATEMENTS 2.1 Statement of Assets and Liabilities of the Consolidated Fund 16. The Consolidated Fund consists of all revenues and other monies raised or received for the purposes of the GOM, except revenues or other monies that are payable by or under any law into some other fund. Expenditure from the Consolidated Fund must be authorized by the Constitution of Montserrat, an appropriation ordinance, or any other law in force in Montserrat. 17. The following is a statement of the assets and liabilities outstanding at 31 December 2004 grouped according to the nature of the item. A detailed statement, as presented by the Accountant General, is attached at Appendix 1. The statement records cash assets and liabilities only. TABLE 1 CONSOLIDATED FUND STATEMENT OF ASSETS AND LIABILITIES 2004 2003 Increase/ (Decrease) Assets Cash 17,176,572 16,670,649 505,923 Development Capital Fund 12,323,420 (270,423) 12,593,843 Fixed Deposits 3,888,463 2,432,070 1,456,393 Investments 2,056,200 2,056,200 0 Advances 832,807 2,360,536 (1,527,729) Total 36,277,462 23,249,032 13,028,430 Taxpayer’s Equity Deposits 5,190,465 4,217,462 973,003 Consolidated Fund 31,086,997 19,031,570 12,055,427 Total 36,277,462 23,249,032 13,028,430 6
2.2 Movement of Assets and Liabilities 2.2.1 Assets Cash 18. Total Cash increased by $505,923. Included in this are balances relating to the following accounts: Cash Local. This recorded a decrease of $6,859,990. Operating Account ECCB recording a decrease of $41,905. Fiscal Reserve – A/c 1 Tranche 1 ECCB recorded an increase of $246,422. Crown Agents #2 Account recorded an increase of $7,161,396. The balance on this account included an amount of £1,325,000 or EC$7,287,840 submitted as additional budgetary aid but held on call at the end of the fiscal year. Development Capital Fund 19. The Development Capital Fund recorded an increase of $12,593,843. This represents unused cash balances available for financing capital projects. Fixed Deposits 20. Fixed Deposits recorded overall increases of $1,456,393. This indicates that some effort is being made at monitoring and managing cash balances. Advances 21. Balances on the Personal and Impersonal Advance accounts amounted to $536,113, representing a decrease of $300,786. Of this amount, $292,363 was deemed uncollectible debts and was hence written off. 22. Outstanding imprests saw a marginal increase of $9,234 thus amounting to $466,055 at end of year under review. Government Departments owed $161,999 while Government Officers had outstanding imprests totaling $304,056. 7
Page 1 and 2: REPORT OF THE AUDITOR GENERAL ON TH
Page 3 and 4: TABLE OF CONTENTS ABBREVIATIONS USE
Page 5 and 6: REPORT OF THE AUDITOR GENERAL ON TH
Page 7 and 8: Description Amount (EC$) Consolidat
Page 9 and 10: CHAPTER 1 1.0 INTRODUCTION 1.1 <str
Page 11 and 12: 1.4 Purpose of Audit Office 6. The
Page 13: 13. The first draft of the 2004 Ann
Page 17 and 18: of realism of the budget and the ex
Page 19 and 20: 38. Table 3 below provides a compar
Page 21 and 22: 43. The Inland Revenue and the Cust
Page 23 and 24: 55. The graph below highlights expe
Page 25 and 26: Emergency Department 168,587 Legal
Page 27 and 28: 2.5 DEVELOPMENT FUND 2.5.1 Statemen
Page 29 and 30: to be done to ensure that all accou
Page 31 and 32: that GOM should have been making co
Page 33 and 34: 3.1.4 Recruitment Process and Appoi
Page 35 and 36: 110. We therefore reiterate that it
Page 37 and 38: deposited or overpaid. Most of this
Page 39 and 40: Location Amount Outstanding 2004 EC
Page 41 and 42: areas. Management should therefore
Page 43 and 44: 3.13 PUBLIC LIBRARY 3.13.1 Trust Fu
Page 45 and 46: 4.7 Montserrat Electricity Services
Page 47 and 48: CHAPTER 5 5.0 THE OFFICE OF THE AUD
Page 49 and 50: Revenue 175. The positive variance
Page 51 and 52: Working Paper Preparation Systems-b
Page 53 and 54: ACKNOWLEDGEMENT AND APPRECIATION Th
Page 55 and 56: Montserrat, and the sums expended h
Page 57 and 58: APPENDIX 1 GOVERNMENT OF MONTSERRAT
Page 59 and 60: CONSOLIDATED REVENUE FUND - 2004 An
Page 61 and 62: GOVERNMENT OF MONTSERRAT DEVELOPMEN
Page 63 and 64: CASHFLOW STATEMENT 2004 (with compa
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F. Expenditure Expenditure for Gove
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10. Advances to Other Government Ad
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APPENDIX 2 NO. 07 OF 2001 AUDIT ACT
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"Public Body" for the purposes of t
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Auditor General in
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(g) adequate regulations, direction
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audit or any duties incompatible wi
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the provisions of section 10 (1)(d)
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Government together with any reserv
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APPENDIX 3 OFFICE OF THE AUDITOR GE
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Auditor General's Report on the Public Accounts of Montserrat 2004

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