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

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ABBREVIATIONS USED BOM DFID CAROSAI CFM ECCB GAAS GDP GOM IASC IDI INTOSAI MASL MONLEC MFSC MLDA MPA MPB MTB MWA MVO PAC PFM RISC SSAP XCD Bank of Montserrat Department for International Development Caribbean Organisation of Supreme Audit Institutions Citizen and Friends of Montserrat Eastern Caribbean Central Bank Generally Accepted Auditing Standards Gross Domestic Product Government of Montserrat International Accounting Standards Committee INTOSAI Development Initiative International Organisation of Supreme Audit Institutions Montserrat Aviation Services Limited Montserrat Electricity Services Montserrat Financial Services Commission Montserrat Land Development Authority Montserrat Port Authority Montserrat Philatelic Bureau Montserrat Tourist Board Montserrat Water Authority Montserrat Volcano Observatory Public Accounts Committee Public Finance Management Regional Institutional Strengthening Committee Statement of Standard Accounting Practice Eastern Caribbean Dollars iv
REPORT OF THE AUDITOR GENERAL ON THE PUBLIC ACCOUNTS OF MONTSERRAT AND ON THE MINISTRIES, DEPARTMENTS AND STATUTORY AGENCIES FOR THE FISCAL YEAR ENDING 31 DECEMBER 2004 EXECUTIVE SUMMARY Scope of the Audit <strong>Report</strong> to the Legislative Council Section 19 of the Finance (Administration) Act 2001 requires this Audit <strong>Report</strong> to be submitted to the Minister responsible for Finance for presentation to the Legislative Council of Montserrat. However, in practice, the <strong>Report</strong> is tabled by the Financial Secretary. The <strong>Report</strong> summarizes the major matters arising from the examination and audit of the Public Accounts, Ministries/Departments and Statutory Agencies for the year ended 31 December 2004. Financial Administration and Management 2. Section 17(1) of the Finance (Administration) Act 2001 requires the Public Accounts to be submitted for audit at latest 6 months after the year end. This requirement was not met. Additionally, when the statutory statements were eventually submitted there were several errors in the accounts which required several revisions to the statements. 3. I am required to certify the Statement of Assets and Liabilities and the abstract accounts of Revenue and Expenditure. These Statements are included in this <strong>Report</strong> as Appendix1. The Audit Certificate is also attached. 4. Twenty-one subheads recorded expenditure in excess of appropriation. In the absence of supplementary appropriation this excess expenditure is recorded in the Public Accounts without statutory authorization. 5. Due to the absence of some source documents we were unable to verify some of the revenue. This therefore presented a limitation in the scope of the audit. 6. For the first time, the Treasury Department has presented a Cash Flow Statement as part of the Public Accounts. v
Page 1 and 2: REPORT OF THE AUDITOR GENERAL ON TH
Page 3: TABLE OF CONTENTS ABBREVIATIONS USE
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 and 14: 13. The first draft of the 2004 Ann
Page 15 and 16: 2.2 Movement of Assets and Liabilit
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
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CONSOLIDATED REVENUE FUND - 2004 An
Page 61 and 62:
GOVERNMENT OF MONTSERRAT DEVELOPMEN
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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
Page 71 and 72:
"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
Page 83:
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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