Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1694265574218.pdf (Malta)
IT-TLETTAX-IL LEĠIŻLATURA P.L.

3185 Dokument imqiegħed fuq il-Mejda tal-Kamra tad-Deputati fis-Seduta Numru 213 tal-11 ta’ April 2019 mill-Ministru għall-Enerġija u l- Immaniġġar tal-Ilma, f’isem il-Ministru għall-Finanzi.

___________________________ Raymond Scicluna Skrivan tal-Kamra GOVERNMENT OF MALTA Annual Financial Statements 2018 In Terms of Section 65 of the Financial Administration and Audit Act, 1962 THE TREASURY - FLORIANA List of Statements 1.

Consolidated Fund 2.

Treasury Clearance Fund 3.


Sinking Funds for the Redemption of Loans 4.

Contingencies Fund 5.

Social Security Account 6.

Good Causes Fund 7.

School Council Fund Page 1 5 6 8 9 11 12 Note: Figures in Statements may not add up due to rounding Treas.

Treas.

N.A.O.
45/2019 32/2019 125/2018 ABSTRACT OF THE CONSOLIDATED FUND ACCOUNT FOR 2018 Revenue I Customs and Excise Duties II Licences, Taxes and Fines Income Tax Ill IV Value Added Tax v Fees of Office VI Reimbursements VII Central Bank of Malta VIII Rents Interest on loans made by Government IX Dividends on Investment/Receipts X XI Social Security XII Grants XIII Miscellaneous Receipts STATEMENT1 2018 € 2017 € (66,495,656) (1 08, 168,447) 312,141,946 386,692,777 1,573,144,411 927,969,568 82,220,356 49,136,807 35,000,000 30,408,246 45,768,119 48,788 967,831 ,221 100,780,846 48,631,911 303,086,433 332,4 77,7 49 1,497,488,607 821 '160,061 112,604,840 45,465,381 50,000,000 31,312,194 41,386,980 64,657 875,053,633 139,246,052 41,818,330 Total Ordinary Revenue 4,559, 77 4,994 4,291 '164,916 Loans XIV XV Repayment of loans made by Government XVI Proceeds from Sale of Shares XVII Extraordinary Receipts 243,526,500 357,409,000 888,888 91,000,000 888,888 Total Non-Ordinary Revenue 335,415,388 358,297,888 TOTAL REVENUE 4,895,190,382 4,649,462,804 Transfers from Contingencies Fund 11 22 4,895,190,393 4,649,462,826 Page 1 ABSTRACT OF THE CONSOLIDATED FUND ACCOUNT FOR 2018 Recurrent Expenditure Information 1 Office of the President 2 House of Representatives 3 Office of the Ombudsman 4 National Audit Office 5 Office of the Prime Minister 6 7 Government Printing Press 8 Electoral Office 9 Public Service Commission 10 Ministry for Health 11 Ministry for the Economy, Investment and Small Businesses 12 Commerce 13 Ministry for Education
 and Employment 14 Education 15 Ministry for Energy and Water Management 16 Ministry for European Affairs and Equality [Implementation of the Electoral Manifesto] Industrial and Employment Relations Inland Revenue 17 18 Ministry for Finance 19 Economic Policy 20 Treasury 22 23 V.A.T.
24 Customs 25 Contracts 26 Ministry for Tourism 27 Ministry for Home Affairs and National Security 28 Armed Forces of Malta 29 Police 30 Correctional Services Probation and Parole 31 32 Civil Protection 33 Ministry for Justice, Culture and Local Government 34 35 36 Ministry for the Environment, Sustainable Development and Climate Change Judicial Local Government STATEMENT 1 (coni) 2018 € 2017 € Page2 ABSTRACT OF THE CONSOLIDATED FUND ACCOUNT FOR 2018 Recurrent Expenditure (Continued) 37 Ministry for Foreign Affairs and Trade Promotion 38 Ministry for Transport, Infrastructure and Capital Projects 39 Ministry for Gozo 40 Ministry for the Family, Children's Rights and Social Solidarity 41 42 Social Security Benefits 43 Pensions 44 Social Welfare Standards 45 Elderly and Community Care Social
 Policy [Ministry for Competitiveness and Digital, Maritime and Services Economy [Ministry for Social Dialogue, Consumer Affairs and Civil Liberties [Energy and Projects STATEMENT 1 (coni) 2018 € 2017 € 31,045,587 95,503,095 36,281,664 79,223,005 327,330,883 965,229,239 105,480,277 1,319,473 128,818,312 28,609,017 94,366,586 32,141,305 67,824,576 295,553,565 936,882,132 107,707,312 1 '163,577 112,066,000 18,301,105 13,500,466 79,610,499 TOTAL RECURRENT EXPENDITURE 3,821 ,447,482 3,543,266,111 21 Public Debt
 Servicing Contribution to Sinking Fund - Local Contribution to Special MGS Sinking Fund Interest - Local Repayment of Loan - Local Early Repayment of MGRSB Contribution to Sinking Fund - Foreign Interest- Foreign Interest- Short-term borrowing 1,630,562 50,000,000 203,190,937 391 ,694,251 568,000 3,261 '123 50,000,000 214,204,758 372,931 ,992 57,000 363,271 1,663,000 846,323 390 322 TOTAL PUBLIC DEBT SERVICING 647,504,412 642,907,518 TOTAL RECURRENT EXPENDITURE AND PUBLIC DEBT SERVICING 4,468,951 ,894 4, 186,173,628 Page 3 ABSTRACT OF THE CONSOL/DA TED FUND ACCOUNT FOR 2018 Capital Expenditure I Office of the President II House of Representatives Ill Office of the Prime Minister IV Ministry for Health v Ministry for the Economy, Investment and Small Businesses VI Ministry for Education and Employment V II Ministry for Energy and Water Management VIII Ministry for European Affairs and Equality IX Ministry for Finance X Ministry for Tourism XI Ministry for Home Affairs and National Security X II Ministry for Justice, Culture and Local Government XIII Ministry for the Environment, Sustainable Development and Climate Change X IV Ministry for Foreign Affairs and Trade Promotion XV Ministry for Transport, Infrastructure and Capital Projects XVI Ministry for Gozo XVI I Ministry for the Family, Children's Rights and Social Solidarity [Ministry for Social Dialogue, Consumer Affairs and Civil Liberties [Ministry for Competitiveness and Digital, Maritime and Services Economy
 STATEMENT 1 (cont) 2018 € 2017 € 445,312 53,750 41,301,365 30,795,920 55,684,091 92,903,546 48,528,678 45,739,252 28,317,863 26,061,297 20,854,090 21 ,004,510 61,497,997 2,297,892 99,577,278 10,135,538 19,791 ,337 637,058 114,441 26,508,387 14,845,957 46,947,448 48,324,515 28,111 ,671 26,190,480 8,157,677 16,171,621 22,969,662 19,662,111 1,110,276 57,702,640 7,716,951 7,859,277 2, 123,1 16 15,022,025 TOTAL CAPITAL EXPENDITURE 604,989,717 350,175,312 IX Ministry for Finance Investment- Equ ity Acquisition
 63,513,093 71,441 ,073 TOTAL CAPITAL EXPENDITURE AND INVESTMENT 668,502,810 421,616,385 TOTAL EXPENDITURE 5,137,454,704 4,607,790,013 Transfers to Contingencies Fund ( 11) (22) Balance as at December 31 (308, 759,977) (66,495,656) Examined and found to agree with Treasury Books Charles Deguara Auditor General;b1?\ lj Page 4 STATEMENT OF THE TREASURY CLEARANCE FUND FOR 2018 STATEMENT2 Deposit Accounts Acquisition of Shares Other Investments Deposits Fund Account Short-Term Borrowing Trust Funds Sinking Funds for the Redemption of Loans Malta Government Stocks Court Deposits Other Deposits Balances as at Transactions during the year Balances as at January 1 (Debit)/Credit € Debits € Credits € December 31 (Debit)/Credit € 924,597,974 194,740,438 23,294 177,000,000 2,109,011 256,376,669 57,918,535 72,138,364 67,400,144 254 103,691,706 11 ,204,566 1,097,597 ,023 189,475 159,850,205 250,220, 130 54,872,519 1 ' 1 04,387,247 1,210,597,023 185,77 1 11 1 '798,207 250,220, 130 78,50 1 ' 146 1 '121 ,524,530 960,889,536 205,944,751 23,294 290,000,000 2,105,307 208,324,672 81 ,547,162 89,275,647 1,684,904,285 2,734,516,997 2,887,723,079 1 ,838,110,369 Advances Accounts Special Advances (55,076,694) 23 ,055,043 (32,021,651) (55,076,694) 23,055,043 (32,021 ,651) 1 ,629,827,592 2, 734,516,997 2,910,778,122 1,806,088,718 Examined and found to agree with Treasury Books \4~ E,su.JJafifie Mamo ~tant General J' I a._~ \ .t.o,g Page 5 STATEMENT OF THE SINKING FUNDS FOR THE REDEMPTION OF
 LOANS FOR 2018 STATEMENT 3 Sinking Fund LOCAL LOANS Balances as at January 1 € Contributions Dividends/ Interest/ € Other € Revaluation/ Currency adjustment € Less Actual Payments € Balances as at December 31 € Malta Government Stock 2018 I Special MGS Sinking Fund 88,494,091 159,37 4,560 1,630,562 875,347 50,000,000 (1 ,779,847) 91,000,000 207,594,713 TOTAL LOCAL LOANS 247,868,651 51,630,562 (904,500) ... 91,000,000 207,594,713 BREAK DOWN OF INVESTMENTS (LOCAL) Central Bank of Malta Deposit Accounts Malta
 Government Stocks 2017 € 2018 € 162,352,352 85,516,299 105,732,414 101 ,862,299 TOTAL INVESTMENTS 247,868,651 207,594,713 Page 6 STATEMENT OF THE SINKING FUNDS FOR THE REDEMPTION OF LOANS FOR 2018 STATEMENT 3 (cant) Si nking Fund as at Contributions Dividends/ Currency Balances Interest/ Revaluation/ Less Actual Balances as at January 1 € Other adjustment Payments December 31 € € € € € FOREIGN LOANS European Union Loan B Loan C 198,062 621 ,804 56,000 (6,062) 76,016 192,000 105,300 648,521 Council of Europe Fund for Development 2003 7,587,777 (37,777) 7,550,000 Government of Canada 100,376 1,000 (271 ) (3,672) 15,995 81 ,438 TOTAL FOREIGN LOANS 8,508,019 57,000 31 ,906 (3,672) 7,863,294 729,959 TOTAL SINKING FUNDS 256,376,670 51 ,687,562 (872,594) (3,672) 98,863,294 208,324,671 BREAK DOWN OF INVESTMENTS (FOREIGN) Central Bank of Malta Deposit Accounts TOTAL INVESTMENTS 2017 € 2018 € 8,508,019 729,959 8,508,019 729,959 Examined and fou nd to agree with Treasury Books untant General ,1\ \ <J 3 \ 2 0 I ~ Page 7 ABSTRACT OF THE CONTINGENCIES FUND FOR 2018 Balance as at January 1, 2018 Advances to the Consolidated Fund Warrant No.
Vote and Subhead Rec 27 Cap VII Cap XV Rec 23 Rec 38 Cap V II Rec 05 Cap IV Rec 20 6797 7840 7940 7367 5404 5672 7909 6845 7837 7937 5908 STA TEMENT 4 € € 1,165,000 1 Reimbursements from the Consolidated Fund of Advances made during 20 18 Warrant No.

2 of 2018 ( 11) 11 Balance as at December 31, 2018 1,165,000 Exam ined and found to agree with Treasury Books Charles.
: guara Auditor General J G,~ P.~Ma mo Accountant General '0 Page 8 STATEMENT IN TERMS OF THE SOCIAL SECURITY ACT, 1987 FOR 2018 STATEMENT5 2018 € 2017 € Source of Funds A.

Social Security Contributions 648,831,222 587,973,633 B.

Direct Contribution by Government in terms of the Social Security Act, 1987 318,999,999 287,080,000 Total Receipts 967,831 ,221 875,053,633 Application of Funds A.

Benefits payable under the Contributory Schemes Invalidity Pensions i. ii.

Retirement Pensions iii.

Bonus iv.


Widows Pensions v. Short-term Benefits 22,033,747 531 '145,244 74,060,985 139,763,589 11,932,620 22,340,319 508,938,015 71,782,342 133,922,865 12,684,168 Total Expenditure on Benefits payable under the Contributory Schemes * 778,936,185 749,667,709 B.

Administration Expenses 8,052,948 8,132,555 C. Expenses in connection with Health Recurrent Services t 1.

Ministry for Health • 2.


Elderly and Community Care 583,387,961 130,706,185 548,324,953 113,616,710 722,147,093 670,07 4,218 Total Payments 1 ,501,083,278 1,419,741,927 Welfare Gap • Difference 533,252,057 544,688,294 't Includes an expenditure of€519,597 and €619,484 e Includes an expenditure of€1,887,873 and €1,560,710 in 2018 and 2017 respectively under Health (Gozo) Recurrent Vote.

in 2018 and 2017 respectively under Elderly and Community Care (Gozo) Recurrent Vote.
* Represents onlY the CONTRIBUTORY BENEFITS payable following the introduction of the two-thirds Pension Scheme in 1979.

Page 9 STATEMENT IN TERMS OF THE SOCIAL SECURITY ACT, 1987 FOR 2018 Non Contributory Benefits also payable under the Social Security Act, 1987 are shown hereunder: i.

Children's Allowance ii.

Old Age Pensions iii.

Disability Pensions I Allowance iv.

Social Assistance v. Medical A ssistance vi.

Bonus vii.

Supplementary Assistance viii.


In-work Benefit STA TEMENT 5 (cont) 2018 € 2017 € 39,312,497 29,251 ,657 22,000,611 55,441,790 18,334,227 9,212,972 8,985,621 3,753,678 39,678,545 26,967,332 19,337,199 61,977,383 18,410,979 9,408,960 8,988,038 2,445,987 Total Expenditure on Benefits payable under the Non-Contributory Schemes 186,293,053 187,214,423 Examined and found to agree with Treasury Books mo r~ Ac t General .

;2\ I o 3) .
;2\ I o 3) .

.2o\9 Paul Page 10 STATEMENT OF THE GOOD CAUSES FUND FOR 2018 STATEMENT6 In terms of Section 65 (1) (b) of the Financial Administration and Audit Act (1 962), this Office is expected to publish "a statement of the receipts and expenditure of any fund or account created by this or any other law".

The following is a statement of Revenue and Expenditure pertaining to the Good Causes Fund of the Ministry for Finance.
Revenue Opening Balance Total Revenue Total Expenditure Total Expenditure Closing Balance Total Examined and found to agree with Treasury Books ra Auditor General € 2,330,742 2,1 12,300 4,443,042 1,317,214 3,125,828 4,443,042 J.M~ : Paulann Ace R eneral c91 o~ cJOI q Page 11 STATEMENT OF THE SCHOOL COUNCIL FUND FOR 2018 STATEMENT!
In terms of Section 65 (1) (b) of the Financial Administration and Audit Act (1962}, this Office is expected to publish "a statement of the receipts and expenditure of any fund or account created by this or any other law".

The following is a statement of Revenue and Expenditure pertaining to the School Council Fund of the Ministry for Education and Employment.
Revenue Opening Balance Total Revenue Total Expenditure Total Expenditure Closing Balance Total • The Opening Bal ance of € 1,477,139 for 2018, as submitted by the Ministry for Education and Employment (Education Department), Is different from the Closing Balance of € 1,451 ,483 for 2017 as published in both Annual Financial Statements for 2017 and in the Financial Report (2017).
The Ministry for Education and Employment (Education Department) ex plained that this discrepancy is a result of the ommision of three schools in year 2018 and other four schools which were not featured in 2017.

Examined and found to agree with Treasury Books Charles Deguara Auditor General € 1,477,139 * 2,500 ,214 3,977,352 2,167,600 1,809,753 3,977,352 Page 12