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

23. Other Governments and Administrations recorded a balance of
$139,770. This represented a substantial decrease of $1,207,374 when
compared to balance outstanding at 31 December 2003.
24. CDB Student Loans decreased by $40,555 leaving an outstanding
balance of $1,062,739. However, there has been no movement on a number
of these accounts indicating that they may not be collectible. Effort should
therefore be made to analyze these accounts with a view towards writing
off those deemed not to be collectible.
25. The Postmaster Clearance account decreased by $11,780 leaving a
balance of ($289,233).
26. There was no movement on the Development Fund Receivable account.
2.2.2 Liabilities
27. Miscellaneous Deposits increased by $215,899 amounting to
$3,101,289. These accounts facilitate Below-the-line activity that bypasses
the normal Legislative Council authority for expenditures. The accounts
show a build up of debit balances totaling $2,990,223 representing
expenditures being incurred without proper legislative authority. The
accounts also include other credit balances amounting to $6,833,704
representing revenues which should have been credited to the Consolidated
Fund. The Treasury Department is investigating these accounts with a view
towards taking corrective action in the 2007 fiscal year.
28. There was no movement on the Insurance Company Deposits and the
Industrial Development Deposits accounts.
29. There was a marginal increase of $14,912 on the Special Funds
account leaving a balance of $583,927.
2.3 Public Finance Management (PFM) System Outturns
30. These refer to the immediate results of the PFM system in terms of
actual expenditures composition, revenues, and deficit, and are assessed by
comparison to the original approved budget. The outturns provide a measure
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