Auditor General's Report on the Public Accounts of Montserrat 2004
Auditor General's Report on the Public Accounts of Montserrat 2004
Auditor General's Report on the Public Accounts of Montserrat 2004
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38. Table 3 below provides a comparative summary <strong>of</strong> actual Recurrent<br />
Local Revenue collected during 2003 and <strong>2004</strong>. A review <strong>of</strong> <strong>the</strong> figures<br />
indicates that Recurrent Local Revenue for <strong>2004</strong> fell by $697,196 or 2.12%<br />
when compared to collecti<strong>on</strong>s for 2003.<br />
TABLE 3<br />
COMPARATIVE LOCAL REVENUE SUMMARY<br />
SOURCE OF REVENUE ACTUAL <strong>2004</strong> ACTUAL 2003 INCREASE/<br />
(DECREASE)<br />
Taxes <strong>on</strong> Income, Pr<strong>of</strong>it & Capital Gains 12,029,110 12,425,192 (396,082)<br />
Taxes <strong>on</strong> Property 973,902 703,573 270,329<br />
Taxes <strong>on</strong> Domestic Goods & Services 1,337,387 1,128,607 208,780<br />
Licences 1,883,635 1,865,947 17,688<br />
Taxes <strong>on</strong> Internati<strong>on</strong>al Trade & Transacti<strong>on</strong> 13,435,446 12,394,640 1,040,806<br />
Fees, Fines and Permits 884,771 765,739 119,032<br />
Rents, Interest and Dividends 344,381 1,966,904 (1,622,523)<br />
ECCB Pr<strong>of</strong>its 210,704 185,476 25,228<br />
Reimbursements 15,394 348,097 (332,703)<br />
O<strong>the</strong>r Revenue 1,030,008 1,057,759 (27,751)<br />
TOTAL 32,144,738 32,841,934 (697,196)<br />
39. As seen from <strong>the</strong> Table 3 above, three revenue heads recorded<br />
increases <strong>of</strong> over $200,000 whilst three recorded deficits greater than<br />
$200,000 when compared with revenue collected <strong>the</strong> previous year.<br />
40. Of <strong>the</strong> $32,144,738 collected as Recurrent Local Revenue,<br />
$29,659,480 was collected as Tax Revenue. This represents a 4% increase<br />
when compared with collecti<strong>on</strong>s in 2003.<br />
41. The Diagram 1 below compares actual revenue, by type, for <strong>the</strong> years<br />
2003 and <strong>2004</strong>.<br />
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