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

Revenue (Development) 26,170,900
Expenditure (Development) 18,183,580 7,987,320
Balance c/f 31 December 2004 31,829,189
* Value of Contingencies Warrants raised during fiscal year.
2.3.2 Recurrent Revenue
35. Recurrent revenue was budgeted at $83,762,800. Actual collections
totaled $95,250,856, an increase of $11,488,056.
2.3.3 Revenue Surpluses and Shortfalls
36. Revenue surpluses and shortfalls are detailed in Table 2 below.
TABLE 2
REVENUE SURPLUSES AND SHORTFALLS
Recurrent Revenue Head
Budgeted
$
Actual
$
Surplus
$
Shortfalls
$
Taxes on Income, Profits & Gains 11,399,000 12,029,119 630,119 0
Taxes on Property 1,075,000 973,902 0 101,098
Taxes on Domestic Goods & Service 1,308,500 1,337,387 28,887 0
Licences 1,384,300 1,883,635 499,335 0
Taxes on Int’l Trade & Transactions 13,473,200 13,435,446 0 37,754
Fees, Fines and Permits 774,900 884,771 109,871 0
Rents, Interest & Dividends 1,075,000 344,381 0 730,619
ECCB Profits 200,000 210,704 10,704 0
Reimbursements 69,000 15,394 0 53,606
Budget and Grants 52,528,800 63,106,109 10,577,309 0
Other Revenue 475,100 1,030,008 554,908 0
TOTAL 83,762,800 95,250,856 12,411,133 923,077
Net surplus 11,488,056
2.3.4 Total Recurrent Local Revenue
37. Authorised Recurrent Local Revenue for the fiscal year was
$31,234,000. Actual Recurrent Local Revenue amounted to $32,144,747
representing a marginal increase of $910,747 or 2.92% over the amount
budgeted for the fiscal year.
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