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

that GOM should have been making contributions toward the Scheme for
established civil servants from its introduction in 1986. Thus, during the
year, the Government agreed to meet retroactive contribution payments of
$21.4M to the Social Security Scheme. Total Domestic Debt at the end of
the fiscal year amounted to EC$22.5M.
85. Interest paid for External Debt totaled $250,886 being 0.78% of
total local recurrent revenue generated for the year. Interest paid on
Domestic Debt totaled $128,125 being interest on development bonds.
2.6.4 Statement of Loans Outstanding
86. Balance outstanding on this account was recorded as EC$183,628 at
the end of the fiscal year. The only movement on these loans was the write
off of $656,243 granted by the GOM.
87. These loans have been on the books for an extended period. No
effort is being made to clear them. GOM should therefore determine the
possibility for legal action to be taken or write them off.
2.7 Losses/Overpayments
88. Balance outstanding on the gratuity overpayment to a legislator
remained at $58,083. The Public Accounts Committee had recommended a
form of remedial action however the option was never exercised.
89. Cash Receipts totaling $2,390 was reported lost after two break-ins
within the Lands and Survey Department. The primary reason for the loss
was however given as negligence and failure to follow proper accounting
procedures on behalf of the relevant cashiers.
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