Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698075017929.pdf (Guyana)
• , ' I ' .. 9 83 REPORT OF THE DIRECTCR OF AUDIT ON THE ACCOUNTS OF THE GOVERNMENT FISH MARKET AND CENTRE F CR THE YEAR ENDED 31st DECEMBER , 1958 ---------- 0 0 CADN/ IS,-, · .

GOVEHNMENT FISH Ml.RKET AND C-:?NTHE - GEORGETOWN 1 or~~ ·.TI ON OJ : · -:.ICT 3E:.1VI GES }"0:1 'r.HE YE 2 ENDED , 195$.

., i 3C1 OPERATI NG EXPENSES Sal aries & Wag e s Miscellaneous Expe nse s Equipme nt Repa i rs & Maintena nce- Bldgs 11 n n Powe r & Li ghts Tra velling ··subsistence Adver t i sement - M. V .
Sussex Street Wha r f Expe ns es 0 18~536 .. 81 ~ 30 , 272 023 I 3, 281.

32 5, 967.

54 846 .

67 455 .

85 576.

64 60.,41 2_46_ .. 99 30 , 272.

23 (~ 2, 452.73 ' -"> ~ 8,584.

43 i,DMINISTRATIVE ~UENSES - 50% of Sal ari es&Wages Powe r & Lights Stat i onery; Repa i r s & Ma i ntenance- M. V. " n n Equipment Contingenci es Admini st r ative Expens e s G. P.D.

- Bl dg s (p 10, 216.

84 157.

85 ' 531.05 1;128,,04 2, 105 .

21 57.

60 · 370 .

26 2, 60 2.


00 REVENUE Pro:rit in Fi sh Commi ssion on Sal e of Fis h Wharfag e Ramp & Grid Rest House Sundr y Reve nue Ca sh Sho r t and Over Profit on Scrap I ro n Sussex Stre et Wharf Les s Los s. I ~~ 27, 93 5.

58 1 287 .

02 3, 566 .

75 I 276 .

01 1,997.

10 1 ,053 .

86 48 .

22 295.

29 !±91.. 86 i 35 , 867.

09 Gasol ene & Oils Cuprinol $ '131.

47 ,1 ,179.

08 .S£.

1 ,310 .

55 Nett Loss i 34, 557.14 ' \?

21 , 377 .

25 ;,, $ 17 ,168085 ~ 8 , 625.

00 1-.


I NTEREST CHli.RGES 50[:"pf Trading Ca pital Fixed As sets REPL1.CEMENT CHARGES 59% of Buildings Ma chinery Furniture & Fixture Miscell aneous Expense s , $ 1, 250.00 16, 000 .

00 , $ 4,400 .

00 6, 000~00 ·100.,00 1 , 500 .,00 I • 6, 000.

00 .

I, ) $ 12, 000.

00 - - - - - ' e 55 , 934.39 CERTIFI ED CORRECT:- ~Anhl c.S ounting Clerk G. F .

M. & C.

CM:!

!~~ Cha::-E:rf"'Ac countaffl;( acr..~4z ...... ) _ __ _ Marketing Divi s ion .
6 5 'it1 5, 34.39 9 ' G,'.DN/IS 0 O?ER/\.TING EXPENSES Salaries & Wages Power & Lights Supplies of Refrig .

Plant Water Miscellaneous Expenses Repa irs & Maintenance Equipment Purchases of Ice (W & R) Transport ation ----.. - ----·------"--;.;;:......:.

;=~~= --- GOVi:::aNr-:rnl?J' FI SH M..11KET 1~ND CENTRE - GEORGETOWN - OPERATION OF TIEFRIGEil/\TION PLJ\ NT (SUPPLIES & ~ SERVICES ) FOR THE 1 YEl R E~IDED 31st DEC .1958 .

$ 43,5 25.

81 $11,209 .71 16,308 .

80 , ,~1'383 .


76' ,367.62 l; J79c 55 2,245.,77 1; 255 .04 6,166080 208 o7_6 ~ 43,525 .

81 10 C3 REVENUE Ice Sales Storage Sundry Revenue ~ 22 , 459 .

83 7,453 .. 51 __ _,_37.._2 .... o,__?.,1... 0 3 0, 33 5 • 57 > Nett Loss I $ 36,449.

96 i.L:MII\J"IS TU/.

TTVE EX?3ENSES .

~ -50%~ - $ 8,584072 Salarie s--& Viages Power & Lights Stationery rtepa irs & M1dnten,311ce- M. V. tt 11 Equ.

:lpme-nt ContinC'"encie s faiministrative Expenses-G.P.D.
- Bl dgs n ~ 10,216,.84 157 085 '531005 1~128 004 2;105 .. 21 57c60 , 370 .. 26 ___ 2 J2_02 ,_ O.Q I NTEREST SH ~RGES -10·%~'of ____ _ - Trading Capital Fixed t.ssats REPL't CElf~NT CHJ.RGES - .. 1o]or--- Machine ry Buildings Furniture & Fixture Mi scellaneous Expense s J • ~ ,~c.ll.Ji>.§i&~Z 1,250 .,00 ~~ ......, ____ __ __________ J.

6 J, 000 .~ 00 ~ -17', 250 .

00 ~ 6,000;00 Ii., i.i.00 0 00 1 100000 __ l ... 200.,00 $ 12,000oOO -==·---,--... :r::e,,•e:,::r:::e:'-:re $ 8, 625.00 $ 6, 000.00 $ 66,735 .
53 --= 66,735.53 LS ::;..;.a 0 10 C5 CADN/ IS GOVERNMENT FISH MtillKET AND CE NI'TIE - GEORGET Ql•fN TIV~DING & PROFIT & LOSS ST /.TEMENT OF F I SH FOR THE YE Jl ENDED 1958.

Opening Stock Purcha s es ••• • • • • •• • •• Clo s i ng Sto ck Gross Profit • • • ••• I ~ ; ,' , 535 .

90 291, 353 .

67 , ~~ 291 ; 889.

57 12 900.

80 ~ 289 ;988.77 27 , 935 .

58 - ~ 317, 924.

35 Sal es • •• • •• f.> 317 , 924.

35 ~ 317, 924 035 CEilTIFI ED CORRECT:- f1lr~ r( l ~ 'S ce ~ r Clerk G. F .
M & C. 0 ,C> CADN/ IS GOVEd.NMENT FISH n;,nKET AND CENTRE - GEffiGETOWN .TilADING & Pl1OFIT & LOSS ~Ti, TErt-ENT OF GA SOLE NE FOR THE YEATI ENDED 1958 10 C7 Opening Stock Purchases Closing Stock Gross Profit 0 • • ••• ••• ••• • •• ••• .

. "

0 e 0 GPEU:1.TING ~XPENSES Salar.i.es & Wae;es Pc:~-v-"r & Li6 hts ; 3.t:ce lJ.e.neou s Expe nse :s. 1;7$9 .14 17,773 .. 20 I 6 \,; 19, 5 2o34 t 19QJ.!J.

,'', y • C • .

.. .

.

., .

__ ,_ ••• <) A 1 ,091 .

34 285 .


07 -- _6J.~:> 82 - Sa l es .... • •• • •• $ 20 >066 .

94 $ 18,771 .

56 1 , 295 .

3$ , ~) 20 ,066 .

94 I ~~ 1,439.

23 'ti - ~ 1,439.

23 Gross Profit b/d Sundry nevenue Nett Loss $ 20 , 066 .

94 ~-~ ~ 1, 29; .38 12 .. 39 131.

46 A 1,439.

23 ,;.> CERTTii' IED COTI.1ECT : - ~ (fA r'Acl~J t: ,~(:- - - - A~ne Cle rk ----- G. FoM.
& C., 1CC9 GOVERNMENT FISH Mi~i?.KET AND CENTI1E - GEORGETOWN CADN/ IS SUMMARY OF FISH PURCHASED FROM THE n.v. CAPE ST. MARY FOR THE YEAR 1 95lf" LBS .

----; 157 , 921 lbs .

I I 1 71 , 457 " 27, 287 " 29 , 789 " 16 , 772 " 15 , 939 !I I 1 , 309 108 II II 50 " 2, 866 If 29 , 317 " 11 IT I 1, 510 " 1 , 223 " 365 II LiJ.6 n .. -I 356 , 340 l bs .

~65 ii 356 , 705 l bs .


SPECIE Croakers Banga r'Icl.ry Sea Trout Mi xed Fish Skin Fi.sh Shark Mackerel Salmon Grouper Pomphret Se·a Patwa Blue Fish Bara cuda- Snapper Dew Fish Shri mps Fi sh G-lue V /\LUE ~., f, 22 , 950 .

26 ' 1 5, 329 ~60 7, 832 !18 .. .

3, 434 .

00 " I 90.

96 119 .

55 227 .

97 21.60 16 .

00 286060 2, 873.

84 2.09 231 .

08 293.52 70 .10 192.20 A <;,> 43 , 971 .

55 58 .5 2 " l $ 1+4 , 03 0.


07 CADN/IS GOVERNMENT FISH MA1l.KET ILND CENTRE-GEORGETOWN" FISH PlffiCH/ SED FOTI THE YEAR J/.NU\RY TO DECEMBER , 1958 .. 1 G10 LBS.

I VI tT If !

!

It fl 28~;H31 lbs .

4 ,760 " 250 ~895 119,031 " 2, 339 n 43,470 " 43,168 " 12, 902 " 49~604 15; 088 5 ;349 14;106 " 10;722 12,051 41;732 " 16, 815 2; 008 1,717 n 108 " 1 685 " 3,028 " 1;181 " 2, 866 u , 583 " 5, 667 ,363 " 1~ 486 1,394- " 188 407 224 ?I II ?I tf ft ft 11 If 9 " J 5 348 n 416 " 365 ti 991, 271.

.~_bs.
.~_bs.

~ECIE Snapper Groupe:~ CroRkers Banga Mary Butter Fish Mixea.

-.i sli SGa Prl t -,ra Gre y Snapper Queriman Ski n .Fish Paggee Ta'Lile Bao.la Snook Mull et Sea Trout Shark Mackerel Barracuda Salmon Silve.

:' Sides Tarpon Dew Fish Puppet Paku Morocut Anna Folk Gobby Basha Shad Rock Snapper Dolphin Butterfly Fish Long John Tal api a Fish ioes bh:-·:i.Clf)S Fish Glue V /\LUE $ 159~041.13 15; 859~76 33~ 207~96 11, 618~75 '869.

34 4;410 .

04 5;194.

51 5~434.

86 21, 289 .12 '104.

06 1,041.


24 4,451~ 20 4; 734.

73 4~454 .

37 13,313.62 137.

20 359.70 264.19 21.60 79.31 890() 3 S 261.

98 286 .

60 I 233 e 20 2, 329.72 87 .12 662 ; l:?

141~48 71; 96 145 ~68 13~44 1 ;62 3 · 60 87;00 192~20 58 .. 52 291 , 353.67 r ,.. \t W C The abovG total includes fish purchased from i1 .

V. Cape ST .

Mary as shown on the n~tact~d stateraent.

..

!

!!.
..

!

!!.

!2!T CERTIFICATE The ace cunts of the Government Fi sh Market and Centre have been examined for the year ended 31st December, 1958.

I have obtained all the information and explanations I have required and I certify, as a result of this Audit that the attached Balance Sheet exhibits a true and fair view of the affairs of the Market and Centre as at 31st December, 1958, subject to the comments contained in the attached Report.

--- 21st March, 1960.


9 0 -u ) .. ' 987 REPORT OF THE DIRECTCR OF AUDIT ON THE ACCOUNTS OF THE GOVERNMENT FISH MARKET AND CENTRE FCR THE YEAR ENDED 31st DECEMBER, 1958 The Accounts of the Government Fish Market and Centre have been examined for the year ended 31st December., 1958.

TRADING AND PROFIT AND LOSS ACCOUNTS Gasolene and Oils 2.

Stock records were not maintained to record the transactions relating to gasolene., kerosene oil, lubri cating and gear oils.
As a result of the grouping of trans actions relating to all the oils, it has not been possible to compare ledger and physical stock balances.

There has been no evidence that pump readings were taken at the com mencement and close of each day's business or that satis factory control was exercised over stocks of lubricatin g oil.

3.
3.

The following is a comparison of quarterly per- centages of gross profit over turnover for 1958 as compared with 1957 :- March Quarter June September Quarter December " " 1958 1957 4.9 8.2 8.o 3.5 10 .3 10.2 9.1 8.6 It will be observed that the percentages for 1958 are lower than those for 1957 and that the percentages for the March and December Quarters or 1958 have been unusually low.

There has been no significant increase in the buying and selling prices during these periods.
A net loss of $131.46 has been sustained as compared with a nett profit ot $215.79 for 1957.

Trading Account - Fish 4.

Stock records were not introduced until 1st July, 1958; although the weights were recorded there was no 1nd1• cation of the number of heads purchased., sold and on hand.

The shrinkage and degradation record reflected losses for the September and December quarters only but the entries have not been certified by the General Manager.
/s ... 0 - 2 (]Jeen s. There has been a gross loss of $4,23l.b4 during the December quarter whereas the following percen tages of gross profit to turnover haveishown for the March, June and September Quarters:- March June September Quarter fl .. II 17.63 10.43 14.21 The percentage for the year has been 8.79 but this cannot be regarded as a satisfactory return; it exceeds the percentag e yielded in 1957 by .2 only, although there has been a substantial increase in the profit margin during 1958.

6.
6.

All fish offered for sale was purchased by the Market despite the fact that st orage facilities were inade• quate.

This decision appears to have been an administrative one and not in accordance with Section 12 of t h e Fish eries Ordinance No.

3 of 195 6.

7.
The followin g figures indicate the percentage un• accounted for - after deducting shrinkage and degradation• in relation to the total quantities purchased and sold quarterly in respect of the speci es Snapper, Grouper and Queriman - Quarter Species Quantity Un- accounted for Percentage March June Snapper Grouper 331n 2447 lbs II Grouper Q.ueriman I September ' Snapper December I I Snapper Grouper l Queriman 2441 5975 fl II 13233¾ II II 16104½ 2474 2542 " " fl 3.2 10 13.3 29 8.1 10.7 10.5 8.3 -------- for these losses.
Satisfactory explanations have n ot been furnished 8. prices.

Instances were observed of variations in purchase These have not been explained.

OPERATION OF REFRIGERATION PLANT ( SUPPLIES AND SERVICES) Revenue 9.

Ice Sales 1 $22 1459.83:- Production recora.s have not been submitted in support of ice manufactured; it has not therefore, b een p ossible to determine wheth er all ice manu factured has been accounted for.

/Expenditure ••• .

..•.

0 • • C 3 - 9~1 Expenditure 10.


Power and Lights - $1 1 6308 .

80 : This amount re presents 37.5 per cent of the total operating expenses .

The machinery is inef.f'icient and uneconomical to operate.

11.

Purchases of Ice - ;61 166.80: Due to a breakdown in the machinery, ice was purchased for use in the Market.

12.

Administrative Expenses - @81584.72: This amount has been overstated by fifteen ( .15¢) cents as the result of an error .

13.

ReFlacement Charges - $61 000 .


00: No account has been taken o replacement charg es amounting to $2,300.00 on capital invested in the Collection Launch.

It is under stood that the Launch is operated now by the Fisheries Division (Marine).

14 .

The net loss of $30,449 .

90 has been overstated by fifteen ( .151) cents consequent on the observation in paragraph 12 above.

OPERATION OF MARKET SERVICES 15.


Profit on Fish - ~7 935.58: This represents the gross profit on sales of f is for t h e y ea r; wag es and other charges have been included in the expenses for the operation of the entire market.

Wharfage - $3 1 566.25 Ramp and Grid - ~276.01 lo .

Charges for these services to fishermen were not enforced as the Fisheries Regulations were suspended and did not come into operation until 1st November, 1959.

Loss on Cuprinol - $1 1 179.

08 17 .


This amount represents the loss sustained during the period 30th September, 1957, to 31st December, 1958.

As a physical stock check was not made at 31st December, 1957, it has not been possible to determine the actual loss for 1958.

There has , however , been a loss of $317 .37 equiva lent to 15.3 per cent of purchases during the quarter ended 31st December , 1958.
There has been no control over the quantities used in the process of dippin g nets and security arrangements have been inadequate.

BALANCE SHEET Assets 18.

Cash Balances totalling $12,331.37 have been examined by the Board of Survey.

/stocks: 9!

;3 - 4 .. St ocks: Fi sh - $1 1 900 .

80 Gas olene and Oils - $790 .

78 1 9.

These b alances have been supported by uncertified stock lists • ~shing Gear - f404 .

59 Refrigeration Plant Supplies - _i§,,955 .

75 Stock of Cuprinol - $11 003 .

03 20.


The existence of these assets as at 31st December, 1958, has not been verified nor have certificates been fur • nished.

SUNLRY DEBTORS - OPEN ACCOUNTS $22, 073.

81 : 21 .

The total of the balances on individual debtors account s as at 31st December , 1958, is ten {.

10¢) cents mor e than the bal ance shown above .

Several long outstanding balances have been re ported on separately.

Q.Q_VERNMENT PRODUCE DEPOT - $7 1590 .

21 Ham and Bacon Factory - $oo5 .


9ti 22 .

The balance appearing in the books of the Govern men t Produce Depot - t he Ham and Bacon Factory ' s Account s have been incorporated in those of the Government Produce Depot - is $4 .

02 less than the balance shown above .

23.

The balances "Fisheries Division - · 92 .

94 11 and "Transport and Harb ours Department - unpaid at the date of this Report .

,li32 .

4o" have remained Deposits Account - Amenia Cyli~ers - fl , 843 .

20 24 .
20 24 .

This balance has not been supported by a certificate of physical stock .

LIABILITIES 25 .

Current Account - j27, b42 .

93 : This balance includes the sum of ~4, 904 .

95 whlch was collected by the Market on behalf of the Cape St .

Mary .

26.

The total loss on the operation of the Market and Centre as refle cted in the accounts was $57827 .

21, whereas the sum of ~6, 440 .

21 has been recorded in the books of the Accountant General as a charge against public fund.S .
Director of Audit 21st March, 19ti0 .

9 95 I CADN/ IS a- C GOVERNMENT FI SH Ml'ill KET AND CENI'RE- GEORGETOWN Fina nci al Re port f or t he Year Ended 31s t December , 195$ .

Appendic es 1.

Balanc e Shee t 2 .

Cur r ent Ac count 3 .

Ope r ation of Market Ser vi ces 4 .

Ope r a tion of Refr iger ation Pl an t Services 5.

Trading and Pr ofit and Loss Stnt ement - Fish 6 .


Trading nnd Profit a nd Lo ss Stateme,1t - Gasol ene & Oil s , Under Head III Agriculture Sub Head 36 , provision was made for a defici t of ~63 , 417.

Thi s :igure i s arrived at as follows :- Expendi t ure Opera t ircrg Expenses Admini stra tive Expen ses Intere s t Charge s Repl a cement Charges Less Estimated deficit Def i ci t Vot ed 0 80 , 845 2 , 602 17, 250 14 , 300 ~ 114, 997 51 , 580 --- ~ 63 , 41 7 _ _,,..,_.,....._ i .
The actual deficit f o r the yea r was ~~57 , 827.

21 whi ch is ~~5, 589.

79 l ess tha n the deficit votsd" Expenditure Operating Expens es Admi nistrative Expenses 1nterest Cha r ges I(e pl a cement Char ges Less neve nu-J $ 90 ; 817 .

92 2 , 602 ; 00 17; 250.

00 12 , 000 .

00 Deficit ~~ 122 ~ 669 ; 92 64 , 842 .71 f, 57 .

827..:11 3 .

It i s important to notP that tho1 u:":i-1 the defic it f or t he year was ~?
57 , 027 ~ 21 int ere s t c · 1rgcs and r ~pl A. cement charges amounting to 0 29 , 250 t 00 were :: 1cluded in tl.a t fi gure c:tnd paid into r e venue o A d - 4 .

Equi pment purchased at a v alue c i: t~17 , 222 58 i., al so included in the de:..'icit .

5. '

During c,hr,, y :,1r 991; 271 pound s of fi sh were purchasud for 29 1, 353 a67 corqxred ~o 485 , 992 pounds valued at ,~164, 245 .

69 in 1957 .

The above figur es int;J.ude f i sh pur("ha s ed fr om the R. V. Cape ST .

Ma:.:·y.

6.
Ma:.:·y.

6.

A detailed stateme nt showing f i sh purchased from fi s hermen and t h e R. V. Cape ST .

M~ry is herewith atta che d ~ ( Sundry Credi tor~ ~ 12 ,742 .

24 Ope:-i 1\ccounts Govt .

Processin~ Factory Unclaimed Wages ~ 12 ,720.36 6000 l.2A8 t, 9 wncce::::rr::::ro: J2 , 742 .
24 GOVETINMi.~NT FISH Mful.KET AND CENTRE- GEIB GE TOWN B1\Lfl.NC:S SHEET hS li.T 31st DECEMBER 21958 9n7 CADN/IS ... ~ L I A B I L I T I E S Accountant General Wor king Capi tal Current Account • • • ... ••• • • • • • • • •• ~~ 47, 357.

07 ~~ 7 5 ~ 000.

00 27 , 642 .

93 I :) 47,357 .

07 Petty Cash Cash on Hand Cash in Bank ••• • •• ••• • •• STOCKS Fish Gasol ene & Oils Fishing Gea r Refri ger at i on Plant Supplies Stock of Cuprinol ••••• • ••• ••• Sundn:; Debtors pen Accounts Govt.
Produce Depot Ham & Bacon Fa ctory Milk Cont r ol Or~anisation M. V .

Cap e ST .

J.VIa ry Fishe r i es Division, Govt .

Produce Depot , N. A.

Transport & Ha rbours Dept .

(> fl.SSE T -S '50 .

00 '358.

69 ~ 11,922 .

68 ~ 12, 3-31.37 $ 10, 055.

55 · , ~ 1,900 .

80 790 .

78 · '404.

59 5; 955 ~75 _1 2003 .,63 ~ 10~055<>55 ~ ~\ 22 , 073.

81 .'

35 , 862.

29 7, 590 .

21 665 .

96 i.. - 2, 297~56 ' 92 .

94 3,109 .

35 - -- 32.

46 1ZJ_862 .

29 ~ 1, 843 .

20 , 6 • .9Q $60, 099 .


31 ✓~ $ Deposi t A/c Arrnnonia Cylinder'; Advances Cash Short ~ 60 ,099 .

31 CERTIJ I ED CORlcECT :- • CJ.DN/IS GOVERNI4E NT FISH M.JlKE T & CENTi?E - G/TOWN J;.CC OUNT.,~)T GENE~Li.L 1.ccou.1,~ .

..i.:..8-.i~ 3l s~ DEC::MBEn, J.95~ Bal ance as at 30th S~pterr.be_:: ••• By Cash ••• .., .... 0 • • o e c. • 0 • ... .. " • 0 Operating Lo ss Refri ~er ati on Pl ant fo~oQua.t~r October - December ••• ••• Operating Loss Market Services for quart er • •• 0 . '

15 , 282 .
15 , 282 .

50 .. i Ended October - December f.dj .

Voachers Carnegi e Trade School M. V. Cape St .

Mary Advances ••• ii ii I?

11 11 0 • 0 Less: - 24, 248 .

95 ••• ••• • • • • •• • •• ••• 308~21 566 .

24 918.~ Inte re st Char ges •• • ••• • •• neplacement Cha r ges • • • Crown lgent schedule of payment No .

• •• (1) Ic e Crushing Machine • • • • • • Freig ht on above M. V. Cape St. Mary {Revenue ) •• o • • • • • • ••• ••• • •• 7 one ••• • •• ••• ~ 4 , 312.50 3 , 000 .

00 1, 392 .

00 , 71 .


76 ~1204.25 989 ~ 30 , 813.11 30 , 813 .11 , e 39 , 531.45 1,792.69 , A ~.> 41 , 3 2L,- .14 ~~ 1 3 , 6810 21 , ~ 27, 642 .

93