Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1694265511447.pdf (Malta)
• P.L.

2639 PAfllAMENT TA' MALTA IT-TNAX-IL LEGISLATURA Dokument imqieghed fuq il-Mejda tal-Kamra tad-Deputati fis-Seduta Numru 138 tas-7 ta1 April2014 mill-Ministru ghall-Finanzi.

Raymond Scicluna Skrivan tal-Kamra '·I i 'j I I I I I I i ,I I :I i!

il : I I GOVERNMENT OF MALTA Annual Financial Statements 2013 In Terms of Section 65 of the Financial Administration and Audit Act, 1962 THE TREASURY- FLORIANA I, I' ,i I ,, ,, i!

r i , I I 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 I ' ;.

r: Note: Figures in Statements may not add up due to rounding 59/2014 Treas.

65/2013 Treas.

N.A.O.
45/2014 ABSTRACT OF THE CONSOLIDATED FUND ACCOUNT FOR 2013 STATEMENT1 2013 € 2012 € li Balance as at January 1 (80,123,472) 2,796,653 Revenue I Customs and Excise Duties Licences, Taxes and Fines II Income Tax Ill Value Added Tax IV v Fees of Office VI Reimbursements Public Corporations VII Central Bank of Malta VIII IX Rents X Dividends on Investment XI XII XIII Grants XIV Miscellaneous Receipts [Repayment of, and] Interest on Loans made by Government Social Security 178,400,994 223,992,041 967,647,967 587,170,640 38,329,170 30,201,117 815,000 48,000,000 25,072,911 25,495,684 2,361,727 645,295,439 173,716,625 45,605,162 155,790,296 227,362,260 865,926,825 534,196,579 32,625,366 26,197,514 815,000 46,000,000 23,601,471 22,357,161 6,526,810 609,690,103 92,858,839 71,783,636 Total Ordinary Revenue 2,992,104,477 2,715,731,860 XV Extraordinary Receipts XVI XVII Repayments of loans made by Government Loans 28,379,680 627,083,600 30,282 28,424,855 645,652,318 52,000,000 Total Non-Ordinary Revenue 655,493,562 726,077,172 TOTAL REVENUE 3,647,598,039 3,441,809,033 Transfers from Contingencies Fund 19 6 1: '·' !'
,, l ' ,, 3,647,598,058 3,441,809,039 Page 1 i; ' ABSTRACT OF THE: CONSOLIDATED FUND ACCOUNT FOR 2013 Recurrent Expenditure Office of the President 2 House of Representatives 3 Office of the Ombudsman 4 National Audit Office 5 Office of the Prime Minister 6 Public Service Commission 7 Information 8 Government Printing Press 9 10 Government Property Division 11 Ministry for European Affairs and Implementation of the Electoral Electoral Office Manifesto Local Government 12 Ministry for Foreign Affairs 13 Ministry for Tourism [Culture and the Environment] 14 15 Ministry for Education and Employment 16 17 Ministry for Sustainable Development, the Environment and Education Climate Change Trade Services [Commerce] Industrial and Employment Relations Social Policy [Security] Social Security Benefits Social Welfare Standards Elderly and Community Care 18 Ministly for Transport and Infrastructure 19 Ministry for Gozo 20 Ministry for Social Dialogue, Consumer Affairs and Civil Liberties 21 22 Ministry for the Economy, Investment and Small Business 23 24 Ministry for the Family and Social Solidarity 25 26 27 28 29 Ministry for Home Affairs and National Security 30 31 32 33 34 Civil Protection 35 36 37 Ministry for Finance 38 39 Armed Forces of Malta Police Correctional Services Probation and Parole [Services] Land and Public Registry Division Judicial Treasury Pensions STATEMENT 1 (cant) 2013 € 2012 € 2,379,548 3,201,182 749,960 2,265,000 21,593,559 479,975 1,365,829 1,319,448 8, 156,142 8,965,006 9,414,271 21,728,672
49,218;306 35,355,447 204,921,056 157,045,940 .,, ' ., :: I' ,j ,, '• :: ,.
I.

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I' I;' ,, ~ ' ., ' ' ,,, r: ij 58,935,412 1,200,842 1,744,048 208,864,147 782,559,401 884,717 50,867,167 • I·' ~ l ;; I i' 38,235,637 49,621,596 8,974,218 655,079 4,328,511 3,550,632 11,244,746 4,782,714 89,951,004 Page 2 1: " n ,, ;: ' o: i' '· i· ;I I• !

: ABSTRACT OF THE CONSOLIDATED FUND ACCOUNT FOR 2013 Recurrent Expenditure (Continued) Inland Revenue 41 42 VAT.
43 Customs 44 Contracts 45 46 Ministry for Energy and the Conservation of Water 47 Ministry for Health [the Elderly and Community Care] Economic Policy [Ministry for Resources and Rural Affairs [Ministry of Finance, the Economy and Investment [Ministry for Justice and Home Affairs [Ministry for Infrastructure, Transport and Communications STATEMENT 1 (coni) 2013 € 2012 € 7,264,926 6,332,488 10,251,567 1,131,641 1,019,609 35,910,579 374,812,999 7,746,156 5,985,594 10,585,507 1,123,291 1,055,920 330,241 '701 82,142,207 140,826,924 18,082,372 44,744,776 SUBTOTAL RECURRENT EXPENDITURE 2,632,648,852 2,488,422,588 38 Treasury [Loan Facility Agreement with Air Malta pic 52,000,000 TOTAL RECURRENT EXPENDITURE 2,632,648,852 2,540,422,588 40 Public Debt Servicing Contribution to Sinking Fund - Local Interest - Local Repayment of Loan - Local Contribution to Sinking Fund - Foreign Interest- Foreign Interest- Short-term borrowing 4,059,000 222,525,405 370,283,460 4,857,000 218,911,457 349,756,502 6,465,000 2,802,836 6,716,000 3,349,045 2,576,605 3,547,107 TOTAL PUBLIC DEBT SERVICING 608,712,306 587,137,110 TOTAL RECURRENT EXPENDITURE AND PUBLIC DEBT SERVICING 3,241,361,159 3,127,559,699 Page3 ABSTRACT OF THE CONSOLIDATED FUND ACCOUNT FOR 2013 Capital Expenditure r I• II 'i STATEMENT 1 (coni) 2013 € 2012 € Examined and found to agree with Treasury Books ~A-?
Anthony C. Mifsud 0,3 Auditor General ,.

;:- N. Camilleri B.A.

(Hons.
), M.B.A. (Bath) Accountaht General Page4 STATEMENT OF THE TREASURY CLEARANCE FUND FOR 2013 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 January 1 (Debit)/Credit € Transactions during the year Balances as at Debits € Credits € December 31 (Debit)/Credit € 389,760,603 503,536,543 23,294 153,224,307 1,609,098 127,067,685 36,103,961 40,870,780 444,904 3 112,266,107 5,431,000 1,029,357,230 158,797 60,113,893 646,119,688 35,982,128 971,985,949 1 '123,540,090 258,013 31,968,778 646,119,688 33,935,017 973,520,633 501,581,806 508,967,539 23,294 247,407,166 1,708,314 .
98,922,570 34,056,850 42,405,464 1,252,196,270 2, 7 44,162,594 2,927,039,326 1 ,435,073,002 Advances Accounts Special Advances (140,042,146) 23,585,464 25,751,020 (137,876,589) (140,042,146) 23,585,464 25,751,020 (137 ,876,589) 1,112,154,124 2,767,748,057 2,952,790,346 1,297' 196,413 ii ' ' i ' i '· I ' ,; ·' ii I i· Examined and found to agree with Treasury Books ~~~ Anthony C. Mifsud 4/ Auditor General 7~ N. Camilleri B.A.

(Hons.
(Hons.

), M.B.A. (Bath) Aocot.mtant General PageS STATEMENT OF THE SINKING FUNDS FOR THE REDEMPTION OF LOANS FOR 2013 STATEMENT3 Sinking Fund LOCAL LOANS Balances as at January 1 € Interest/ Revaluation/ Contributions Dividends!

Currency Less Actual Balances as at Other adjustment Payments December 31 € € € € € ,.

i.
i.

[I ii Malta Government Stock 201'3 I Malta Government Stock 2018 I 27,581,803 65,436,470 797,877 (28,379,680) 632,458 3,261,123 69,330,051 " TOTAL LOCAL LOANS 93,018,273 4,059,000 (27,747,222) 69,330,051 ' BREAK DOWN OF INVESTMENTS (LOCAL) Central Bank of Malta Deposit Accounts Malta Government Stocks TOTAL INVESTMENTS 2012 € 67,962,833 25,055,440 93,018,273 2013 € ,:: 1: 27,685,043 1: 41,645,008 .

- - - 69,330,051 I' I I !

:.

:' 1 F I ' i• ' ~ : ,.
Page 6 STATEMENT OF THE SINKING FUNDS FOR THE REDEMPTION OF LOANS FOR 2013 STATEMENT 3 (coni) Sinking Fund FOREIGN LOANS European Union Republic of Italy Balances as at January 1 Contributions Interest/ Dividends/ Other Revaluation/ Currency adjustment € € € € Less Actual Payments € Balances as at December 31 € Loan B Loan C Loan F 600,008 844,340 342,847 106,000 56,000 1,419 2,042 (17,667) 182,500 99,900 325,180 524,928 802,482 1991 98,393 181 59,042 39,533 U.S.A. Government 600,829 (18,599) 175,119 407,11~ Council of Europe Fund for Development 2002 2003 5,611,387 25,756,530 1,800,000 4,500,000 15,100' 73,882 2,550,000 7,550,000 4,876,487 22,780,413 Government of Canada 195,078 3,000 1 '123 (19,215) 18,420 161,566 TOTAL (FOREIGN LOANS) 34,049,412 6,465,000 76,081 (37,814) 10,960,160 29,592,519 TOTAL SINKING FUNDS 127,067,685 10,524,000 (27,671,141) (37,814) 10,960,160 98,922,570 BREAK DOWN OF INVESTMENTS (FOREIGN) Central Bank of Malta Deposit Accounts TOTAL INVESTMENTS 2012 € 2013 € 34,049,412 29,592,519 34,049,412 29,592,519 r li ' ~ : 1.: 'i li l ., .. ,.
:: ii !

!

Examined and found to agree with Treasury Books ·~v:i.·_ Anthony C. M~d~ Auditor General OJ ·-1' N. Camilleri B.A.

(Hons.

), M.B.A. (Bath) Accountant General Page 7 ABSTRACT OF THE CONTINGENCIES FUND FOR 2013 Balance as at January 1, 2013 Advances to the Consolidated Fund Warrant No.
Vote and Subhead 1 2 3 4· 5 6 7 8 .Rec 18 Rec 19 Rec 19 Rec 19 Rec 19 Rec 19 Rec20 Rec 29 Rec 29 Rec 37 Cap XII Cap XII Cap VII · Rec 47 5084 5251 5275 5277 5399 5279 5497 5641 6783 6001 7211 7256 7261 5680 Cap XIII 7260 ' Cap XIV Rec 46 Rec 11 Cap IV 7319 5664 5681 7261 Reimbursements from the Consolidated Fund of Advances made during 2013 Warrant No .. 3 of 2013 STATEMENT4 € € 1,165,000 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 '·1 .•• '· i I !i 1 !

': I: 11 ,.

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:: I ,, (19) 19 Balance as at December 31, 2013 1,165,000 "' Examined and found to agree with Treasury Books -~~~ Anthony C. Mifslclif ;;1, Auditor General _...,-;:, '1 _... o3 N. Camilleri B.A.

(Hons.

), M.B.A. (Bath) Accountant General Page 8 · · ........

-------------------------------------------~---------------.-- STATEMENT IN TERMS OF THE SOCIAL SECURITY ACT, 1987 FOR 2013 STATEMENTS 2013 € 2012 € Source of Funds A.
Social Security Contributions 431,533,800 407,219,849 B.

Direct Contribution by Government in terms of the Social Secur)ty Act, 1987 213,761,639 202,470,254 Total Receipts Application of Funds A.

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

Retirement Pensions .iii.

Bonus iv.


Widows Pensions .V, Short-term Benefits 645,295,439 609,690,103 25,876,508 410,957,617 59,456,128 113,693,291 14,944,461 25,390,763 395,764,815 54,348,788 115,530,782 13,903,946 • Total Expenditure on Benefits payable -~nder the Contributory Schemes 624,928,005.

604,939,095 B.
604,939,095 B.

Administration Expenses 6,750,484 6,214,059 c. Expenses in connection with Health Recurrent Services t 1' Ministry of Health [the Elderly and Community Care] • 2, Elderly and Community Care Total Payments Welfare Gap - Difference 375,263,463 67,559,027 349,639,431 51,924,521 449,572,975 407' 778,011 1,074,500,980 1,012,717,106 429,205,540 403,027,003 :i I, " ·' ; ~ ' ;; I' ,, ' ,.
't InclUdes an expenditure of € 450,464 and € 19,397,7311n 2013 and 2012 respectively under Health (Gozo) Recurrent Vote.

(The figure for 2012 includes Gozo General Hospital).

• Includes an expenditure of € 1,125,112 and € 1,057,354 in 2013 and 2012 respectively under Elderly and Community Care (Gozo) Recurrent Vote.

• Represents only the CONTRIBUTORY BENEFITS payable following the introduction of the two·thlrds Pension Scheme In 1979.
Page9 STATEMENT IN TERMS OF THE SOCIAL SECURITY ACT, 1987 FOR 2013 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 Assistance vi.

Bonus vii.
Bonus vii.

Supplementary Assistance Total Expenditure on Benefits payable under the Non-Contributory Schemes STATEMENT 5 (cont) 2013 € 2012 € 43,352,981 21,879,225 12,786,324 75,317,345 18,364,403 10,988,852 6,840,102 39,929,427 20,457,331 11,918,664 69,214,332 19,178,471 I 10,301,474 I' 6,620,607 I 1 L. 189,529,232 .

I .

177,620,306 ~· ., ====: j; ., i' :;.

:I ·' " I 't' ,;· i; N. Camilleri B.A.

(Hons.

}, M.B.A. (Bath) .Accountant General Page 1.


Examined and found to agree with Treasury Books ·~k Anthony C. Mifsud.~( Dd Auditor General 1 STATEMENT OF THE GOOD CAUSES FUND FOR 2013 STATEMENT6 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 st:;ltement 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 € 593,853 1,211,960 1,805,813 1,376,293 429,521 1,805,813 Examined and found to agree with Treasury Books ~~"" Anthony C. Mifsua'2~ Auditor General at ,_,.

I - N. Camilleri B.A.

(Hons.

), M.B.A. (Bath) Accountant General Page 11 I' 1: ,.

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STATEMENT OF THE SCHOOL COUNCIL FUND FOR 2013 STATEMENT7 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 • Treasury noted a discrepancy as per statement submitted by the Ministry for Education and Employment.

Closing balance for 2012 (€ 1 ,695,029) does not agree with Opening balance for 2013 (€ 808,873).

Examined and found to agree with Treasury Books ~-~=-..., Anthony c. M i ts& Auditor General ..9} ~~ N. Camilleri B.A.

(Hons.

), M.B.A. (Bath) Accountant General · € • 808,873, '· I 1,608,1011 2,416,974 : 1!
I!

,.

j: 1,561 ,334,• 1;.

855,640 2,416,974: I I i' I.

Page 12 1 : ·II I'' .I'