Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1694265465505.pdf (Malta)
IT-TLETTAX-IL LEĠIŻLATURA P.L.

1410 Dokument imqiegħed fuq il-Mejda tal-Kamra tad-Deputati fis-Seduta Numru 97 tad-9 ta’ April 2018 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 2017 In Terms of Section 65 of the Financial Administration and Audit, Act, 1962 THE TREASURY - FLORIANA !i ' J . '
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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 I 5 6 8 10 12 13 Note: Figures in Statements may not add up due to rounding Treas.

Treas.

N.A.O.

45/2018 85/2018 125/2017 ' I " ,, I i!

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I ABSTRACT OF THE CONSOLIDATED FUND ACCOUNT FOR 2017 Revenue I Customs and Excise Duties Licences, Taxes and Fines II 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 2017 € 2016 € (108,168,447) (170, 137,720) 303,086,433 332,477,749 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 41,818,330 277,506,407 311,008,551 1,328,269,691 724,798,345 71,356,763 28,649,993 50,000,000 29,883,232 39,147,116 98,119 804,388,725 102,339,420 39,516,313 Total Ordinary Revenue 4,291,164,916 3,806,962,675 XIV Loans XV Repayment of loans made by Government XVI Proceeds from Sale of Shares 357,409,000 888,888 597,901,700 12,184,000 1,130,749 Total Non-Ordinary Revenue 358,297,888 611,216,449 TOTAL REVENUE Transfers from Contingencies Fund 4,649,462,804 4,418,179,125 22 40 4,649,462,826 4,418,179,165 " i: " :l ·~~ li ·' j•i ., 'i ~~: : i!
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; ' ·, ~ Page 1 ABSTRACT OF THE CONSOLIDATED FUND ACCOUNT FOR 2017 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 Public Service Commission 7 8 Government Printing Press 9 Electoral Office 1 o Energy and Projects 11 Ministry for European Affairs and Implementation of the Electoral Manifesto 12 Ministry for Foreign Affairs 13 Ministry for Education and Employment 14 Education 15 Ministry for Transport and Infrastructure 16 Ministry for Gozo 17 Ministry for Social Dialogue, Consumer Affairs and Civil Liberties 18 19 Ministry for the Economy, Investment and Small Business 20 Commerce 21 Ministry for Finance 22 Treasury 24 25 V.A.T.
26 Customs 27 Contracts 28 Economic Policy 29 Ministry for the Family and Social Solidarity 30 Social Policy 31 Social Security Benefits 32 Pensions 33 Social Welfare Standards 34 Elderly and Community Care 35 Ministry for Justice, Culture and Local Government 36 Industrial and Employment Relations Inland Revenue Judicial STATEMENT 1 (cont) 2017 € 2016 € 6,402,492 5,419,667 1,199,950 3,150,000 36,237,893 592,029 1,054,920 1,352,800 7,914,525 79,610,499 43,688,871 28,609,017 273,143,442 .
7,331,490' 8,146,739 7,123,937 10,987,738 1,619,643 1,211,292 56,660,649 274,307,560 900,699,994 96,880,876 1 '104,381 94,326,752 39,479,219 13,587,370 L: '· " I' !
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Page 2 ABSTRACT OF THE CONSOLIDATED FUND ACCOUNT FOR 2017 STATEMENT 1 (con f) 2017 € 2016 € Recurrent Expenditure (Continued) Police 37 Local Government 38 Ministry for Tourism 39 Ministry for Home Affairs and National Security 40 Armed Forces of Malta 41 42 Correctional Services 43 Probation and Parole 44 Civil Protection 45 Ministry for Sustainable Development, the Environment and Climate Change 46 Ministry for Competitiveness and Digital, Maritime and Services Economy 47 Ministry for Health 42,648,238 76,278,242 13,800,862 50,179,932 60,344,842 12,180,820 1,127,263 5,674,910 67,557,089 18,301,105 547,805,469 [Government Property Division [Ministry for Energy and Health 39,537,858 67,353,685 14,516,935 46,308,781 57,721,148 11,171,815 1,077,764 5,664,800 66.943,736 498,137,660 7,088,099 77,132.499 TOTAL RECURRENT EXPENDITURE 3,543,266,111 3,264,337,877 23 Public Debt Servicing 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 50,000,000 214,204,756 372,931,992 3,261,123 50,000,000 222,124,392 485,398,534 1,663,000 646,323 6,465,000 1,329,351 322 379 TOTAL PUBLIC DEBT SERVICING 642,907,518 768,578,778 TOTAL RECURRENT EXPENDITURE AND PUBLIC DEBT SERVICING 4,186,173,628 4,032,916,656 ' lj !
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i• Page 3 ABSTRACT OF THE CONSOLIDATED FUND ACCOUNT FOR 2017 Capital Expenditure I Office of the President II House of Representatives Ill Office of the Prime Minister IV Ministry for European Affairs and Implementation of the Electoral Manifesto V Ministry for Foreign Affairs VI · Ministry for Education and Employment 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 Finance XII Ministry for the Family and Social Solidarity XIII Ministry for Justice, Culture and Local Government XIV Ministry for Tourism XV Ministry for Home Affairs and National Security XVI Ministry for Sustainable Development, the Environment and Climate Change XVII Ministry for Competitiveness and Digital, Maritime and Services Economy XVIII Ministry for Health STATEMENT 1 (cant) 2017 € 2016 € TOTAL CAPITAL EXPENDITURE 350,175,312 310,300,181 XI Ministry for Finance Investment- Equity Acquisition 71,441,073 12,993,015 TOTAL CAPITAL EXPENDITURE AND INVESTMENT 421,616,385 323,293,195 TOTAL EXPENDITURE 4,607,790,013 4,356,209,851
 Transfers to Contingencies Fund Balance as at December 31 (22) (40) (66,495,656) (108,168,447) Examined and found to agree with Treasury Books <?,harles Deguara Auditor General ;)...
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i: '' Iii I·; L' I ': ; ' ~ : Page4 , .. ~: STATEMENT OF THE TREASURY CLEARANCE FUND FOR 2017 STATEMENT2 Balances as at January 1 (Debit)/Credit € Transactions during the year Debits € Credits € Balances as at December 31 (Debit)/Credit € 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 30,286,773 5,841,847 96,200,537 14,179,678 858,684,211 186,402,607 23,294 254,000,000 2,093,372 212,981,313 666,214,634 66,133 103,715,914 518,044,470 94,134,927 64,853,362 52,286,296 • 1,238,354,044 589,214,634 81,772 147,111,271 518,044,470 28,636,970 1 ,258,206, 112 924,597,974 194,740,438 23,294 177,000,000 2,109,011 256,376,669 57,918,535 72,138,364 1,660,606,020 2,627,377,177 2,651,675,445 1 ,684,904,285 Advances Accounts Special Advances (75,933,806) • 50,000 20,907,112 (55,076,694) (75,933,806) 50,000 20,907,112 (55,076,694) 1,584,672,213 2,627,427,177 2,672,582,557 1,629,827,592 .
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;: ; '.· " ' ; ' I *Opening Balance for 2017 differs from the Closing Balance for 2016 as published In the Annual Financial Statements for 2016, as the wrong account was erroneously credited in 2016.

Examined and found to agree with Treasury Books (}/ Charles Deguara Auditor General /).
:_ 1~ko Accountant Gen raJ~ z....,,J- Page5 STATEMENT OF THE SINKING FUNDS FOR THE REDEMPTION OF LOANS FOR 2017 STATEMENT3 Sinking Fund LOCAL LOANS Balances as at January 1 € Contributions Interest/ Revaluation Dividends/ Currency Less Actual € Other € adjustment € Payments € Balances as at December31 € Malta Government Stock 2018 I Special MGS Sinking Fund 84,014,766 3,261,123 111,652,866 50,000,000 1,218,202 (2,278,306) 88,494,091 159,374,560 TOTAL LOCAL LOANS 195,667,632 53,261,123 (1 ,060, 104) .
247,868,651 BREAK DOWN OF INVESTMENTS (LOCAL) Central Bank of Malta Deposit Accounts Malta Government Stocks TOTAL INVESTMENTS 2016 € 2017 € 117,913,133 77,754,499 162,352,352 85,516,299 195,667,632 247,868,651 j ll I I ·1:; ,.

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--··--·-~----~------------------, STATEMENT OF THE SINKING FUNDS FOR THE REDEMPTION OF LOANS FOR 2017 STATEMENT 3 (cant) Sinking Fund FOREIGN LOANS European Union Balances JnteresU Revaluation.

as at Contributions Dividends!
Currency Less Actual January 1 € € Other € adjustment € Payments € Balances as at December 31 € "i Loan B Loan C 282,991 672,204 106,000 56,000 (929) (2,300) 190,000 104,100 198,062 621,804 Council of Europe Fund for Development 2002 2003 2,620,783 13,614,316 1,500,000 (70, 783) 23,461 2,550,000 7,550,000 7,587,777 Government of Canada 123,387 1,000 (417) {6,442) 17,152 100,376 TOTAL FOREIGN LOANS 17,313,681 1,663,000 (50,968) (6,442) 10,411,252 8,508,019 TOTAL SINKING FUNDS 212,981,313 54,924,123 (1,111,072) (6,442) 10,411,252 256,376,670 BREAK DOWN OF INVESTMENTS (FOREIGN) 2016 € 2017 € Central Bank of Malta Deposit Accounts 17,313,681 8,508,019 TOTAL INVESTMENTS 17,313,681 8,508,019 Examined and found to agree with Treasury Books t.L Paulan~mo Acc~r,atj t• "3 Page 7 ' ' ·I ii I 'j " !i ;: ' r :: d •I !i .. ii.
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i ; i .. ABSTRACT OF THE CONTINGENCIES FUND FOR 2017 Balance as at January 1, 2017 Advances to the Consolidated Fund Warrant No.

Vote and Subhead STATEMENT4 € € 1,165,000 Cap VII Cap VII Rec21 Rec45 Rec 05 Cap VIII Cap VII Rec 19 Rec35 Rec 11 Cap VIII Cap VII Cap XII Cap XIV Cap XVIII ~ ' lj il i! "
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; '; i i " i PageS STATEMENT 4 (cont) i , I ABSTRACT OF THE CONTINGENCIES FUND FOR 2017 13 Cap X 7801 Reimbursements from the Consolidated Fund of Advances made during 2017 Warrant No.

2 of 2017 Balance as at December 31, 2017 € 1 € (22) 22 1,165,000 '!

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; ,, Examined and found to agree with Treasury Books ..---·· Charles Deguara Auditor G&n&ral f.l 11/oJ,.,' ~Mamo 1 C Accountant General I .
I Page9 STATEMENT IN TERMS OF THE SOCIAL SECURITY ACT, 1987 FOR 2017 STATEMENTS 2017 € 2016 € Source of Funds A.

Social Security Contributions 587,973,633 537,796,963 B.

Direct Contribution by Government in terms of the Social Security Act.

1987 287,080,000 266,591,762 Total Receipts 875,053,633 804,388,725 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 22,340,319 508,938,015 71,782,342 133,922,865 12,684,168 25,281,017 479,228,190 69,068,249 125,331,922 13,295,132 Total Expenditure on Benefits payable under the Contributory Schemes ' 749,667,709 712,204,509 • ,, ., .. B.

Administration Expenses 8,132,555 7,385,320 C, Expenses in connection with Health Recurrent Services t 1.

Ministry for Health • 2.


Elderly and Community Care 548,324,953 113,616,710 498,660,087 95,616,605 670,074,218 601 ,662,012 Total Payments 1,419,741,927 1,313,866,521 Welfare Gap - Difference 544,688,294 509,477,796 t Includes an expenditure of €519,484 and €522,4271n 2017 and 2016 respectively under Health (Goz.o) Recurrent Voto.

• Includes an expenditure of €1,550,710 and €1,289,853 In 2017 and 2016 respectively under Elderly and Community Care (Gozol Recurrent Vote.
*Represents only the CONTRIBUTORY BENEFITS payable following the introduction of the two~thlrds Pension Scheme in 1979.

Page10 ---·-~------~---------------------- STATEMENT IN TERMS OF THE SOCIAL SECURITY ACT, 1987 FOR 2017 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 Assislance v. Medical Assistance vi.

Bonus vii.

Supplementary Assistance viii.


In-work Benefit STATEMENTS (coni) 2017 € 2016 € 39,678,545 26,967,332 19,337,199 61,977,383 18,410,979 9,408,960 8,988,038 2,445,987 40,824,545 23,550,405 17,131,737 69,036,765 18,308,359 9,649,516 7,735,588 2,258,569 Total Expenditure on Benefits payable under the Non-Contributory Schemes 187,214,423 188,495,485 ,.'l.

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;i Examined and found to agree with Treasury Books Charles Deguara Auditor Gene?J ·:~.

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Page 11 STATEMENT OF THE GOOD CAUSES FUND FOR 2017 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 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 ·' .. Cl1arles Deguara Auditor Genera/H ?J lS € 2,270,682 1,307,054 3,577,736 1,246,995 2,330,742 3,577,736 :!

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,U~ Account§lnt General • t-o<• (Ia 0 Page 12 STATEMENT OF THE SCHOOL COUNCIL FUND FOR 2017 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· * TI1e Opening Balance of€1,389,462 for 2017, as submitted bY the Ministry for J:dueatlon and Employment (Educaflon Department), Is different from the Closing Balance of €1,300,069 for 2016 as published on lhe Annual Financial Statements for 2016.

'The Ministry for Education and Employment (Education Department) explained that such discrepancy was due to some schools being omitted In prior submission.
Examined and found to agree with Treasury Books € 1,389,452 • 2, 165,135 3,554,587 2, 103,104 1,451,483 3,554,587 Page 13 •I ' ;•j :j 'i, I, l il .,, •' ;; 'i ' ~ !

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