Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1694265495077.pdf (Malta)
IT-TNAX-IL LEĠIŻLATURA P.L.

6878 Dokument imqiegħed fuq il-Mejda tal-Kamra tad-Deputati fis-Seduta Numru 373 tas-6 ta’ April 2016 mill-Ministru għat-Trasport u l-Infrastruttura, f’isem il- Ministru għall-Finanzi.

_______________________________ Raymond Scicluna Skrivan tal-Kamra __________ _ ,.

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.. GOVJEJRNMJEN'f OJF MAJL'fA Annual Financial Statements 2015 In Terms of Section 65 of the Financial Administration and Audit Act, 1962 TflE TREASURY- FLORIANA 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.
45/2016 43/2016 204/2015 ABSTRACT OF THE COJ\ISOl.IDATED FUf\1/D ACCOUNT FOR 2015 STA TEMENT1 2015 ~ 2014 € Balance as a~ January 1 (23,536,200) (95, 1 05,876) Revenue I Custom·s and Excise Duties II Licences, Taxes and Fines Ill Income Tax IV Value Added Tax v Fees of Office VI VII VIII Reimbursements Public Corporations Central Bank of Malta IX Rents X Dividends on lnvestmenUReceipts XI XII XIII Grants XIV Miscellaneous Receipts Interest on loans made by Government Social Security 290,404,789 280,871 '708 1 '184,627' 755 699,998,113 51,722,556 28,794,337 48,000,000 29,261 ,529 34,935,951 360,571 739,583,040 176,164,697 70,073,275 302,607,413 244,124,235 1,068,088,921 639,675,627 77,383,894 25,095,000 815,000 50,000,000 28,786,577 17,873,937 1,191,070 699,191 ,297 176,802,541 55 ,573,557 Total Ordinary Revenue 3,634, 798,321 3,387,209,070 XV XVI XVII Loans Repayment of loans made by Government Extraordinary Receipts 473,234,600 40,416,000 757,535 648,841,400 Total Non-Ordinary Revenue 514,408,135 648,841,400 TOTAL REVENUE 4,149,206,456 4,036,050,470 Transfers from Contingencies Fund 13 27 4,149,206,469 4,036,050,497 Page 1 ABSTRAC1 OfF THIE CONSOLJIJ)A TED /FUND ACCOUNT FOR 2015 Recurrent Elcpenditure 1 Office of the President 2 House of Representatives 3 Office of th e Ombudsman 4 National Audit Office 5 Office of the Prime Minister 6 Public Service Commission 7 Information 8 Government Printing Press 9 Electoral Office 10 Government Property Division 11 Ministry for European Affairs and Im plementation of
 the Electoral Manifesto 12 Ministry for Foreign Affairs 13 Ministry for Education and Employment 14 15 Ministry for Sustainable Development, the Environment and Climate Education Change Armed Forces of Malta Commerce [Trade Services] Industrial and Employm ent Relations 16 Ministry for Transport and Infrastructure 17 Ministry for Gozo 18 Ministry for Social Dialogue, Consumer Affairs and Civil Liberties 19 20 Ministry for the Economy, Investment and Small Business 21 22 Ministry for Home Affairs and National Security 23 24 Police 25 Correctional Services 26 Probation and Parole 27 Civil Protection 28 Ministry for Finance 29 30 32 33 V.A.T.
34 Customs 35 Contracts 36 37 Ministry for Energy [the Conservation of Water] and Health 38 39 Ministry for the Family and Social Solidarity 40 Treasury .Pensions Inland Revenue [Ministry for] Health Economic Policy Social Policy STATEMENT 1 (cant) 2015 € 20'14 € 4,001,173 3,699,214 '1 ,139,99'1 2,700,000 32,626,469 561,058 '1,236,957 '1 ,323,950 7,795,468 8,91 2,185 15,214,813 23,632,290 228,029,465 204,430,001 53,794,838 84,548,963 27,464,976 12,257,073 1,218,990 34,488,548 1,831,878 20,480,502 44,203,393 57,147,737 10,864,122 1,031,646 4,940,362 127,037,365 6,055,434 .
,624,521 1,795,357 26,709,010 40,721,478 54,963,305 10,131,609 921 ,908 4 ,339,974 94,725,963 5,195,983 91,878,871 7,439,489 5,593,945 11,268,338 1,292,694 1,232,236 46,309,432 414,577,687 47,247,251 239,079,406 Page 2 ABSTRACT OF 1HE CONSOUDATIED FUJ\Jf!J ACCOUNT FOR 2015 Recurrent EJCpenditure (Continued) Social Security Benefits Social Welfare Standards Elderly and Community Care 41 42 43 44 Ministry for Justice, Culture and Local Government 45 46 47 Ministry for Tourism Judicial Local Government [Land and Public Registry Division STATEMENT 1 (cant) 2015 € 2014 e 'G 868,377,995 1,062,242 84,921,553 27,600,412 13,412,090 37,880,784 53,604,771 852,908,279 982,076 76,994,220 12,872,510 37,219,147 66,067,717 4,299,815 TOTAL RECURRENT EKPENDITURE 3,056,833,968 2,857,049,790 31 Public Debt SeNicing Contribution to Sinking Fund- Local Contribution to Special MGS Sinking Fund Interest - Local Repayment of Loan - Local Contribution to Sinking Fund - Foreign Interest- Foreign Interest - Short-term borrowing 3,261,123 25,000,000 230,405,382 349,377,156 3,261 '123 50,000,000 226,913,224 367,504,355 6,465,000 1,817,317 6,465,000 2,305,483 108,047 1,877,535 TOTAL PUBLIC DEBT SERVICING 616,434,025 658,326,719 TOTAL
 RECURRENT EXPENDITURE AND PUBLIC DEBT SERVICING 3,673,267,993 3,515,376,509 Page 3 ... ··-·-· .
ABSTRACT OF THE CONSOLDDATED FUND ACCOUNT FOR 2015 Capital EJcpenditure I Office of the President II Office of the Prime Minister Ill Ministry for European Affairs and Implementation of the Electoral Manifesto IV Ministry for Foreign Affairs v Ministry for Education and Employment VI Ministry for Sustainable Development, the Environment and Climate Change VII Ministry for Transport and Infrastructure VIII Ministry for Gozo IX Ministry for Social Dialogue, Consumer Affairs and Civil Liberties X Ministry for the Economy, Investment and Small Business XI Ministry for Home Affairs and National Security XII Ministry for Finance XIII Ministry for Energy and Health XIV Ministry for the Family and Social Solidarity XV Ministry for Justice, Culture and Local Government XVI Ministry for Tourism [Ministry for Energy and the Conservation of Water [Ministry for Health STATEMENT 1 (cant) 2015 € 2014 € 122,000 14,893,823 187,998 12,411,892 38,162,811 2,049,727 83,484,100 95,467,205 79,757,152 14,510,939 3,138,187 60,422,134 23,861,199 20,748,243 1 08,104,090 5,622,536 23,856,151 4,268,809 23,481,368 1,291,390 68,283,051 47,045,880 83,921 ,382 9,551,663 2,326,078 46,839,499 11 ,933,323 24,486,050 4,688,852 17,797,383 24,931,127 41,192,469 TOTAL CAPITAL EXPENDITURE 578,469,106 420,369,406 X II Ministry for Finance Investment - Equity Acquisition 44,070,878 28,734,880 TOTAL CAPITAL EXPENDITURE AND INVESTMENT 622,539,984 449,104,286 TOTAL EXPENDITURE 4,295,807,977 3,964,480,795 Transfers to Contingencies Fund (13) (27) Balance as
 at December 31 (170,137,720) (23,536,200) Examined and found to agree with Treasury Books Anthony C. Mifsud __:::...!
Auditor General a N. Camilleri B.A.

(Hons.
), M.B.A. (Bath, UK), CPFA Accountant General Page 4: STATEMENT OF THIE TREASUIRYCLEARAMCE FUND IFOIR 2015 Balances as at Transactions during the year 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 January 1 (Debit)!Credit € 721,762,235 173,965,457 23,294 140,355,841 1,890,948 148,409,673 38,979,978 52,978,519 STATEMENT2 Balances as at December 31 (Debit)ICredlt € Debits € Credits € 1,118,382 117,901,529 7,464,000 704,465,539 107,894 27,185,622 870,193,830 33,654,421 11155,076,026 786,159,698 234,451 50,834,568 870,193,830 38,206,880 1,202,095,580 838,545,381 181 ,429,457 23,294 222,050,000 2,017,505 172,058,618 43,532,436 99,998,072 Advances Accounts Special Advances 1,278,365,944 2,791,801,715 3,073,090,535 1 ,559,654, 764 (111 1 172,533) 15,135,286 (96,037,248) (111,172,533) 15,135,286 (96,037,248) 1 ,167,193,411 2, 791,801,715 3,088,225,820 1,463,617,516 Examined and found to agree with Treasury Books .
Anthony C. M1fsud - Auditor General o.3 t.G N. Camilleri B.A.

(Hans.

), M.B.A. (Bath, UK), CPFA Accountant General Page 5 S1ATEJI!I!Ef\JT OF THE SINKING F8JMDS FOR THE RfEDEJI!IPTIOI\J OF LOANS FOR 2015 STATEMENT3 Sinl<ing Fund LOCAL LOANS Balances as at January 1 € Contributions € Interest/ Dividends/ Other € Revaluation/ Currency adjustment € Less Actual Payments "' ....
Balances as at December 31 € Malta Governm.ent Stock 2018 I Special MGS Sinking Fund 73,334,004 49,544,216 3,261,123 25,000,000 1,447,698 (1,828,333) 78,042,825 72,715,882 TOTAL LOCAL LOANS 122,878,219 28,261,123 (380,635) 150,758,707 BREAK DOWN OF-INVESTM ENTS (LOCAL) Central Bank of Malta Deposit Accounts Malta Government Stocks TOTAL INVESTMENTS 2014 € 2015 € 55,299,020 83,179,508 67,579,199 67,579,199 122,878,219 150,758,707 Page 6 S TA TEMENT OfF TC-1/E SINKING FUNDS FOR THE REDEMPTION OF LOANS FOR 2015 STATEMENT 3 (cant) Sinl<ing Fund FOREIGN LOANS European Union Balances Interest/ Revaluation/ as at Contr ibutions Dividends/ Currency l ess Act ual Balances as at January 1 € € Other "' "" adjustment Payments December 31 € € € Loan B Loan C 447,194 768,088 106,000 56,000 (276) (485) 186,500 102,300 366,418 721,303 U.S.A .
Government 266,275 (72,508) 30,248 224,015 Council of Europe Fund for Development 2002 2003 4,134,301 19,761,200 1,800,000 4,500,000 (3,045) (10,150) 2,550,000 3,381,256 7,550,000 16,701,050 Government of Canada 154,396 3,000 (97) (9,964) 17,450 129,885 TOTAL FOREIGN L OANS 25,531,453 6,465,000 (86,561) 20,284 10,630,265 21,299,911 TOTAL SINKING FUNDS 148,409,673 34,726,123 (467,197) 20,284 10,630,265 172,058,618 BREAK DOWN OF INVESTMENTS (FOREIGN) Central Bank of Malta Deposit Accounts TOTAL INVESTMENTS 2014 € 2015 € 25,531,453 21,299,911 251531 ,453 21 ,299,911 Examined and found to agree with Treasury Books ~ .~A--~ Auditor General a Anthony C. Mifsud o 3 N. Camilleri B.A.
(Hons .

), M.B.A. (Bath, UK), CPFA Accountant General Page ?

AIBST/RA CT OfF 7!/H/E COfiJTUI\JGEMCUES !FIIJND FO/R 2015 Balance as ai: Jamuary 1, 2015 Advances to ihe Consolidated Fund Warrant No.

Vote and Subhead 2 3 4 5 7 8 9 Cap VII Rec 10 Cap VIII Cap VIII Cap XIII Cap XIII Cap Ill Cap Ill Rec 05 Cap XI Cap XI Cap XI Cap XI 7337 5672 7804 7904 7809 7909 7803 7903 5808 7803 7903 7802 7902 .. - -···· -~ ·· ; · · - · - ··· - : ........ .

_.
_.

···-- -' STATEMENT4 € :€ '1,'165,000 1 1 1 1 Reimbursements from the Consolidated Fund of Advances made duri'!9 2015 Warrant No.

2 of 2015 (13) 13 Balance as at December 31, 2015 1,165,000 Examined and found to agree with Treasury Books -~~~~ ~ Anthony C. Mifsud ~ Auditor General th N. Camilleri B.A.

(Hans.

), M.B.A. (Bath, UK), CPFA Accountant General Page 8 STATEJI/IEJ\JT IJIJ TERJI/IS OF THE SOCIAL SECURITY ACT, 1987 FOR 2015 Source oi Funds A.
Social Security Contributions STATEMENTS 2015 ~ 2014 € 494,7 45,446 467,663,579 B.

Direct Contribution by Government in term s of the Social Security Act, 1987 244,837,593 23 1,527,71 8 Total Receipts Application of Funds A.

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

Retirement Pensions iii.

Bonus iv.


Widows Pensions v. Short-term Benefits 739,583,039 699,191,297 24,676,865 444,805,598 66,195,240 119,001 ,224 13,520,716 25,846,396 424 ,427,439 64 ,554,224 116,837,533 13,962,531 * Total Expenditure on Benefits payable under the Contributory Schemes 668,199,643 645,628,123 B.

Administration Expenses 7,086,403 6,726,735 C. Expenses in connection with Health Recurrent Services t 1.

[Ministry for] Health • 2.


Elderly and Community Care Total Payments Welfare Gap - Difference 449,963,122 86,145,743 415,070,788 78, 185,959 543,195,268 499,983,481 1,211,394,911 1,145,611 ,604 471 ,811 ,872 446,420,307 t Includes an expenditure of€478 ,208 and € 493,100 In 2015 and 20~4 respectively under Heal th (Gozo) Recurrent Vote.

e Includes an expenditure of €1 ,224,190 and € 1,191,738 In 201 5 and 2014 respectively under Elderly and Community Care (Gozo) Recurrent Vole.
* Represents only the CONTRIBUTORY BENEFITS payable following the introduction of the two-thirds Pension Scheme in 1979.

Page 9 S7TA 7EII!iENT 6N TERMS OF THIE SOCIAL SfECURUTV ACT, 1987 FOR 2015 STATEMENT 5 (cant) Non Contributory Bene'iiis also pa~yabie under ~he Socia l Security Act, 1987 are shown hereu nder: Disabili~y Pensions I Allowance i.

Children's Allowance ii.

Old Age Pensions iii.

iv.

Social Assistance v. Medical Assistance vi.

Bonus vii.

Supplementary Assistance viii.


Child Supplement Benefit 2015 41,662,470 23,519,964 15,329,205 75,936,609 18,239,016 10,280,1 21 7,374,837 7,836,130 51,435,318 23,258,600 14,106,909 79,647,591 18,842,373 11,110,316 8,879,049 Total Elcpenditure on Benefits payable under the Non ~Contributory Schemes 200,178,352 207,280,156 Examined and found to agree with Treasury Books Anthony C. Mifs ud~ Auditor General ?6 N. Camilleri B.A.

(Hans.

), M. B.A.
(Hans.

), M. B.A.

(Bath, UK), CPFA Accountant General Page 10 S114 TEMIENT OF THE GOOD CAUSES FUND FOR 2015 STATEMENT6 In terms of Section 65 (1) (b) of the Financial Administration and Audit Act (1962), this Office is e)(pected to publish "a statement of the receipts and e)(penditure 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 th e Ministry for Finance.
Revenue Opening Balance Total Revenue Total Expenditure Total Expenditure Closing Balance Total € 746,121 1,928,349 2,674,470 934,925 1,739,545 2,674,470 Examined and found to agree with Treasury Books .~Lf----~ Auditor General a Anthony C. Mifsud 03 ~ N. Camilleri B.A.

(Hans.

), M.B.A. (Bath, UK), CPFA Accountant General Page 11 STA TEMENT OF THE SCHOOL COUNCIL FUND FOR 2015 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 E){penditure Total Expenditure Closing Balance Total € 1,037,492 * 2,061,895 3,099,387 1,855,492 1,243,895 3,099,387 • The Cl osing Balance of€783, 151 for 2014 as published in the Annual Financial Statem ents (2014) was subsequently revi sed to € 1,047,520 on the Financial Report (2014) as the Ministry for Education and Employment (Education Department) had originally s ubmiHed incomplete data.
On the 2015 statement s ubmiHed by the Ministry for Education and Employment (Education Department), Treasury also noted a discrepancy as the revised Cl osing Balance for 2014 (€1,047,520) did not agree with t he Opening Balance for 2015 (€1,0 37,492).

Examined and found to agree with Treasury Books -~A~~ ~ Anthony C. Mifsud __::_!

Auditor General C6 N. Camilleri B.A.

(Hans.

), M.B.A. (Bath , UK) , CPFA Accountant General Page 12