Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698929421023.pdf (Trinidad and Tobago)
NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 2017-2018 who is iGovTT?

The National Information and Communication Technology Company Limited, branded iGovTT, was incorporated in July 2009.
It is a State Enterprise responsible for the provision of ICT consulting and support services to government ministries, divisions and agencies in order to ensure effective alignment, co-ordination, security, interoperability and cost effectiveness across Government for ICT related projects and initiatives.

ANNUAL REPORT i NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2016-2017 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H What do we offer?
iGovTT provides a number of umbrella specialist consultative services to the Government of the Republic of Trinidad and Tobago.
These services include: • Government Data Centre Services • ICT Technical Solutions and ICT Outsourcing • End Point Security Management • Software Licensing and Management • Technical Advisory Services • Policy Research and Measurement • ICT Project Management Services • ICT Contract Management Services • ICT Procurement Services • Security and Assurance Advisory Services ii ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 2017-2018 What do we stand for?
Operational Excellence iGovTT will strive to deliver cutting-edge, ICT solutions that meet or exceed industry standards.

Collaboration/Teamwork We actively engage in cross-functional teamwork to leverage knowledge, skills and diversity for greater impact.

Enabling We will continuously explore and exploit new technologies in delivering value.

Service Excellence We listen attentively and provide proactive, high quality, cost effective and timely services that exceed expectations.
ANNUAL REPORT iii NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H iv ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 2017-2018 2017-2018 A N N U A L R E P O R T CONTENTS Notice of Meeting Abbreviations Minister’s Foreword Message from the Chairman Message from the Chief Executive Officer Corporate Governance Management Discussion and Analysis The Year in Photo Review Audited Financial Statements PGS 1 3 5 7 9 12 16 38 42 ANNUAL REPORT v NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H THE COMPANIES ACT 1995, Chap: 81:01 NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS OF NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED TO: Minister of Finance Corporation Sole Ministry of Finance Level 8, Eric Williams Financial Complex Independence Square Port-of-Spain NOTICE IS HEREBY GIVEN that the Annual General Meeting of shareholders of the NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED (the "Company") will be held at Level 1 Conference Room #52 Lord Harris Court, Pembroke Street, Port of Spain on 25th day of January, 2019 at 10:00 a.m. for the following purposes: 1.
2.

3.
To confirm the Minutes of the Annual General Meeting held on 25 January, 2018 To confirm the Minutes of the Special Meeting of the Shareholders held on 25 January, 2018 To receive and consider the financial statements of the Company for the fiscal year ended September 30, 2018, together with the report of the auditors thereon; To consider and if thought fit to pass the following as an ordinary resolution: “THAT the financial statements of the Company for the fiscal year ended 30 September, 2018 and the auditors’ report thereon be received.” 4.
5.

6.

7.
To reappoint the incumbent auditors for the ensuing year, at a remuneration to be fixed by the Directors of the Company To receive the Annual Report of the Company; To receive the Directors’ report; To re-elect the Directors; The following persons were appointed as members of the Board of Directors of the Company on July 18, 2016 and hold office in accordance with the By-Laws of the Company: - - - - - - Ms. Esther Le Gendre Chairman Dr. Sean Rocke Ms. Jacqueline Morris Ms. Anastacia Samuel-James Ms. Vashti Maharaj Mr. Deepak Maharaj Deputy Chairman Director Director Director Director 1 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 2017-2018 Mr. Howard Dottin was subsequently appointed as a member of the Board of Directors of the Company on 17 August, 2017 to hold office for period of two (2) years in accordance with the By-Laws of the Company.
The By-Laws provide inter-alia that “A director’s term of office (subject to the provisions, if any, of the Company’s articles and subject to his election for an expressly stated term) shall be from the date of the meeting at which he is elected or appointed until (close of the annual meeting of shareholders next following) his election or appointment or until his successor is elected or appointed”.
To consider and if thought fit to pass the following as an ordinary resolution: “THAT the following persons be re-elected as members of the Board of Directors of the Company and to hold office in accordance with the By-Laws of the Company: - Ms. Esther Le Gendre - Dr. Sean Rocke - Ms. Jacqueline Morris - Ms. Anastacia Samuel-James - Ms. Vashti Maharaj - Mr. Deepak Maharaj Chairman Deputy Chairman Director Director Director Director 8.
To transact such further or other business as may properly come before the meeting and any adjournments thereof.

DATED at Lord Harris Court, No.

52 Pembroke Street, Port of Spain, this 18th day of December 2018.
By Order of the Board, ____________________________ JANET PETERS Corporate Secretary ANNUAL REPORT 2 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H ABBREVIATIONS EA Enterprise Agreement EAP Employee Assistance Programm GoRTT Government of the Republic of Trinidad and Tobago HRIS Human Resource Information System ICT Information, Communication and Technology MEA Microsoft Enterprise Agreement RFI SEP Request for Information Symantec Endpoint Protection 3 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 2017-2018 ANNUAL REPORT 4 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H THE HONOURABLE MARLENE MC DONALD Minister of Public Administration and Communications Minister’s Foreword As Minister with responsibility for Information and The National ICT Plan, dubbed the ICT Blueprint Communications Technology (ICT), it is my pleasure 2018-2022, is a roadmap for meeting the country’s to present the Annual Report of the National anticipated social and economic needs and will Information and Communication Technology focus on improving connectivity, enhancing ICT Company Limited (iGovTT) for the period 2017 infrastructure and strengthening ICT legislation.
In -2018. essence, it is vital to the growth and development of the National ICT landscape.

The Government of the Republic of Trinidad and Tobago’s Vision for Trinidad and Tobago is: The Plan is laid out, through five (5) Strategic Thrusts, “By 2030, Trinidad and Tobago will be able to sustain namely: its own development and provide a high quality of • Improving Connectivity, life for all its citizens, for generations to come”.
• Increasing Human Capacity, • Digital Government, To make this vision a reality, Government has • Fostering Economic Development; and identified ICT as a critical success factor and • Advancing the Environment for Societal Benefit.

enabler in securing the country’s social and economic development objectives.
To follow Each of the five is also specifically applied to through on this, Cabinet, in 2018, approved the Tobago, and reflects issues generated out of several National ICT Plan 2018-2022 which provides the stakeholder consultations from the sister isle.
impetus for ICTs to serve as the digital enabler of Government’s National Development Strategy, iGovTT therefore has a particularly important role to Vision 2030. play given its primary responsibility for the implementation and execution of the This move has solidified the potential of ICTs in the Government’s enterprise-wide ICT programmes, realisation of the Government of the Republic of and the provision of support for the streamlining of Trinidad and Tobago’s (GoRTT) national ICT processes and activities.
Its role is all the more development objectives, including economic important given the many potential benefits that diversification, increased economic the country can reap through greater integration of competitiveness, and improved living standards for ICT processes, lower costs and enhanced all citizens.

efficiencies.
5 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 2017-2018 Permit me to acknowledge the tremendous work that the iGovTT team has been able to accomplish during this reporting period, from research on an environmentally conscious approach to ICT, to the support and delivery of high quality, integrated and standardised ICT infrastructure across the GoRTT, to the delivery of new e-government services namely TTGovChat and the MusicTT online platform.
Each one of these solutions has provided greater efficiencies to end-users, the citizens of Trinidad and Tobago.

I look forward to the other pioneering initiatives to come from iGovTT, such as GovPayTT, which will make it easy for Ministries, Departments and Agencies across government to accept payments.

The platform will be able to connect government services to different payment service providers (PSPs).
I am confident that with the continued commitment and industriousness of the National Information and Communication Technology Company Limited we can attain that which we are all working towards - a high quality of life for all of us in this twin-island nation.

__________________________________ THE HONOURABLE MARLENE MC DONALD M.P.
Minister of Public Administration Trinidad and Tobago ANNUAL REPORT 6 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H Message from the Chairman ESTHER LE GENDRE Chairman of the Board of Directors ICT is a key enabler of economic progress and a ICTs in Government and, by extension, the wider driving force for product, process and service population.

The company maintained a strong innovation.


Organisations that have mastered the strategic product focus, the goal of which was to application of next-generation technologies have impact the country’s strategic objectives directly as been making strides in market disruption across the these relate to improving Trinidad and Tobago’s global globe.
The Government of Trinidad and Tobago also competitiveness by enhancing the ease of doing recognises the importance of ICT and in August 2018, business with Government.
Over the last fiscal year, the Cabinet approved the National ICT Plan 2017-2021. company has delivered on its strategic objectives and The plan goes to the heart of Trinidad and Tobago’s mandate, ensuring the right level of engagement, social and economic development with direct collaboration and networking with clients and other implications for the operations of the public sector key stakeholders.

While our greatest challenge was and the welfare of the citizens of our country.
managing the infrastructure that underpins the portal, In spite of a challenging economic climate, the manage these challenges.

In the near future, we company largely delivered on its mandate in the face expect to implement certain improvements that will of a 26.83% reduction in its subvention for fiscal 2018 extend the life and availability of the service even as over 2017: 2018 $29Mn vs 2017 $39.635Mn.
GoRTT moves to realise a replacement to the aged we continued to work with all stakeholders involved to Additionally, recognising the need for fiscal prudence, facilities.

administrative expenditure for the period was reduced by $2.89Mn (6.9%) with salaries and wages In our quest to add value to the national landscape, and security services being the major contributors.
we delivered three new e-government services – an Salary expense was reduced by 11.8% (2018 $25.77Mn IPO acknowledgment system and payment gateway, vs 2017 $29.22Mn), while the expenditure associated an online music technology platform for MusicTT and a with security services was reduced after negotiation live chat system ttGovChat – all of which are directly by $1.05Mn.
During the year, the company also aligned with the Government’s thrust to increase ICT conducted remedial works to its Lord Harris Court uptake and utilisation within the public and private Head Office at a cost of $2.167Mn.

Capital sector and to generate value for citizens.

We also expenditure for the fiscal year was $1.0Mn, which implemented an Enterprise Risk Management system, included improvements to the ttconnect Curepe to effectively identify and manage risk inherent in our office of $416K.
business.

The National Information and Communication We continued to provide enhancements to the Technology Company Limited (iGovTT), as an delivery of government information and services important contributor in the implementation of the through ttconnect, the arm of iGovTT that most directly National ICT Plan, continued to drive the uptake of impacts the lives of citizens both locally and abroad.
7 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 2017-2018 In the area of corporate governance, the company Such a dynamic start has created the impetus for achieved full compliance with all statutory, sustained momentum in the delivery of five regulatory and financial reporting requirements.

e-government services in the new fiscal year.


The Collaborative ventures such as the signing of a company will further add to the ICT ecosystem by Memorandum of Understanding (MOU) with TSTT to hosting a Hackathon in 2018/2019.

The aim is to market e-Tender Software as a Service will reform create an enabling environment for ICT driven procurement and yield tremendous benefits for all.
development to thrive, to drive innovation and An MOU was also signed with the Judiciary for the incubate young talent within Trinidad and Tobago.

development and expansion of the Court Pay platform currently accessed via ttconnect.

In an environment of renewed interest in the diversification agenda, government funding is of Having charted a revised strategic direction to paramount importance to progress the company’s maintain alignment with the National ICT Plan in strategic objectives.
The company is well poised to January 2018, in the upcoming fiscal year, we will deliver on its strategic agenda within the ambit of a continue to look closely at areas such as ICT strong governance framework.

With the infrastructure, e-government services and engagement of dynamic, new leadership, the performance management within the company as a company is working consistently towards ensuring driver of service delivery.
This direction entails full that we have the right balance of ICT leadership and exploitation of our place in the ICT market place, a high performing team in support.

continuous upgrading of the skills base of our people and leveraging our expertise to deliver an enhanced The Board of Directors remain committed to suite of secure, customer-focused, cutting-edge supporting the mandate and strategic goals of the e-government services to ministries, departments company.
We applaud the leadership and and agencies.

All of this, we expect, will translate into employees as we all labour to shape an organisation greater levels of service quality and higher utilisation that ultimately wants to be known for its rates of our products within the government arena.

performance, innovation, integrity and value added to our valued clients the citizens of Trinidad and While much has been accomplished, there is still a lot Tobago.
to be done with respect to ensuring that our people are fit for purpose, managing portal downtimes and ensuring that we have a robust business continuity plan in place for the organisation.

In the coming year the company will implement an HRIS aimed at strengthening the human resource capital __________________________________ management function.
ESTHER LE GENDRE Chairman of the Board of Directors iGovTT anticipates an exciting year ahead, with a dynamic start to the new fiscal year, as it hosted its fifth ICT Symposium.

Policy makers, industry decision makers and ICT professionals from across the world were engaged to exchange ideas, debate the latest trends and developments and devise solutions for advancing national ICT development.
ANNUAL REPORT 8 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H Message from the CEO KIRK HENRY Chief Executive Officer, iGovTT As global energy prices and improved uptime and availability of its infrastructure capital investments continue to (GovNeTT and Portal); improve its reputation, image lower and governments feel the and brand; three new e-government services and impact of decreased revenues strengthen internal capability to support the from the country’s backbone execution of our plan and improve service to our sector, the significance of customers.
I am happy to report that we have “made information and communication good on our promises” and not only delivered, but in technology as a pillar for economic many respects exceeded expectation for year one of diversification becomes more our strategic plan.

relevant and topical.
Therefore, it is against this backdrop that the National Our successes have contributed towards the ease of Information and Communication access to government services by our citizens; Technology Company (iGovTT) must significantly improved GovNeTT availability and focus on demonstrating the performance; resulted in the delivery of circa $5M in potential for ICT to transform market value of works and improved the number of the way we do business - as e-government services now available to our various we seek to modernize the public stakeholders.
This enhanced and brought sector in keeping with the country’s tremendous benefit and value to the public service national developmental strategy.

sector and by extension the citizens of Trinidad and Tobago.

This was achieved in spite of the reality of Our 2017-2018 Annual Report showcases the challenging economic times.
collaborative effort, determination and delivery of a collective group (Board of Directors, Management Allow me to highlight a few of these achievements: and staff of iGovTT), who worked tirelessly over the The Operations Unit worked tirelessly to optimise past months to deliver on the company’s strategic performance and availability of our legacy GovNeTT objectives and mandate and ensured the right level infrastructure and delivered an impressive 99.45% of engagement, collaboration and networking with reliability over the reporting period - exceeding our full clients and other key stakeholders to drive year target of 98%.
Our ttconnect channel saw a 54% organisational success.

increase in the number of ttconnect IDs by circa 5,000.

With regards to reputation, the company I joined the company at the start of the third quarter of achieved 92% positive media mentions - an almost fiscal 2017-2018 with an approved Strategic Plan in 100% increase from the prior year.

Additionally, place and several key organisational objectives and representatives of the company (executives and activities identified for delivery.
Here the company management alike) attended various conferences, had set forth a commitment to deliver seminars and interviews and led discussions as subject 9 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 2017-2018 matter experts on ICT and the transformative impact of allow us to plan for and manage all risk associated with a digitally ready society.
This helped to position the any disruption to our operations.

This will form part of company as a respected voice within the Trinidad and our deliverables for fiscal 2018 -2019 as we seek to build Tobago ICT landscape.

This was especially important as on the momentum of our 2017-2018 delivery.

our ICT Symposium was upcoming in the next fiscal and attracted ICT thought leaders from all around the world Overall the past year represented a point of inflection to our shores.
Under the strategic objective of for the company as the organisation moved from “strengthening iGovTT's internal capability for being only an ICT procurement company to that of a enhanced service delivery and customer satisfaction”, full stack ICT services provider to GoRTT.
We have been the company identified core competencies for 100% of proactively pursuing business that can add value to the its employees and delivered on target with respect to internal processes within ministries, departments and employee satisfaction and improved the average agencies as well as improvements to government’s ranking and performance of all employees by 10% - a customer-centric focused services.

This represents a 100% increase on prior year.

paradigm shift for our organisation.


Our push towards greater use of shared services will create efficiency and On the project progression front, noteworthy, was the result in cost savings within government.
development of three new e-government services - online music technology platform for MUSICTT; Much has been accomplished over the past year and Intellectual Property Office acknowledgement system the organisation has been laser focused on delivering and payment gateway and TTGovChaTT, a live chat with pride, resilience and purpose.

However, we do function on the ttconnect portal - with an additional recognise that this is just the tip of the iceberg.
As we two in the pipeline utilising the GovPayTT solution, a continue to operate in this digital space and witness the payment platform designed to facilitate online transformative impact of ICT within our public, social payment to government agencies.

The company also and business sectors we recognise the value of our role delivered 100% on-time compliance reporting to the as the implementers of government’s ICT and the various statutory and regulatory bodies.
We also unique opportunity that comes with this in implemented an Enterprise Risk Management System revolutionising and exposing the benefits and value of which allows us as an organisation, to proactively a digital society to our valued stakeholders.

manage risk to business delivery - a critical factor in the overall process maturity of the organisation.
Thanks to We have over the past year gained the confidence prudent and sound fiscal management, the company and buy-in of key decision makers in progressing our ICT was able to reduce its administrative expenditure for agenda on behalf of Trinidad and Tobago and can the period by 6.9% which resulted in a savings of boldly and proudly say that we are well on the way to $2.89Mn.

becoming more than the “trusted advisor to government on ICT matters”.
Rest assured, we’ve only Though 2017-2018 saw several wins for the organisation just begun to see the potential for ICT growth and by way of efficiency, project delivery and compliance, development in Trinidad and Tobago – the best is yet to we did experience some challenges with our portal come!

which underperformed over the period due to outages in December 2017 following a firewall failure.
As such, we are working to ensure that we prioritize our focus and resources to those channels with the highest impact and value for money as well as ensuring that we work with our line Ministry to implement a viable solution for improving portal uptime.
Additionally, we intend to implement a robust Business Continuity Plan which will __________________________________ KIRK HENRY Chief Executive Officer, iGovTT ANNUAL REPORT 10 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 11 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 2017-2018 Corporate Governance What do we offer?
ANNUAL REPORT 12 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H Corporate Governance Organisational Chart BOARD OF DIRECTORS CHIEF EXECUTIVE OFFICER Internal Audit Legal/Corporate Secretary Finance & Administration Human Resources Finance Administration Corporate Communications & Marketing Office of the CEO Policy, Research & Measurement Security & Assurance Consulting & Business Development Business Development Business Transformation Solution Architect Office DEPUTY CHIEF EXECUTIVE OFFICER Delivery Operations Procurement ttconnect Contract Management Government Data Centre Programme Management Technical Support Application Support Internal IT 13 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 2017-2018 Corporate Corporate Governance Governance Board of Directors Organisational Chart DR SEAN ROCKE Deputy Chairman JACQUELINE MORRIS Director DEEPAK MAHARAJ Director HOWARD DOTTIN Director VASHTI MAHARAJ Director ESTHER LE GENDRE Chairman ANASTACIA SAMUEL-JAMES Director ANNUAL REPORT 14 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H Corporate Governance Management Team KIRK HENRY CEO CHARLES BOBB-SEMPLE Deputy CEO SHERWYN CAMBRIDGE Head, Delivery EDSON EASTMOND Head, ttconnect CHRISTINE FERREIRA Head, Finance & Administration JOHN OUTRIDGE Head,
 Consulting JANET PETERS Corporate Secretary / Head, Legal SHERWIN RAGOONANAN Head, Operations TYRONE RODULFO Head, Human Resources 15 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 2017-2018 Management Discussion and Analysis 17 18 22 Our Vision, Mission and Strategy Analysis of Financial Operations Business Review 2017-2018 ANNUAL REPORT 16 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H Management Discussion and Analysis Our Vision, Mission and Strategy Our Vision is to be the premier ICT solution provider to GoRTT, enabling efficiency, increasing productivity and transforming the delivery of government services to the citizens of Trinidad and Tobago.
VISION MISSION Our Mission is to implement superior ICT infrastructure, projects and programmes in alignment with the National ICT Plan.

STRATEGY Our Strategy focuses on strengthening internal capability and transforming the way we deliver ICT solutions to Ministries, Departments and Agencies across government.

Our strategic objectives for the period 2017-2020 are designed to: 1.

Support the delivery of high quality, integrated and standardised ICT infrastructure across GoRTT 2.
Strengthen iGovTT’s internal capability in its core competencies for enhanced service delivery and customer satisfaction 3.

Facilitate the delivery of citizen-centric e-government services 4.
Improve iGovTT’s reputation and performance - Become the trusted advisor on ICT to GoRTT 17 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 2017-2018 Management Discussion and Analysis Analysis of Financial Operations Income The company’s operations are financed primarily through the system of Parliamentary appropriations, where approved funds are identified under various FIGURE 1 Composition of Income for Fiscal Year 2018 Recurrent Subvention Project Grant sub-heads and are disbursed through our line Recognition of Deferred Income Ministry, the Ministry of Public Administration.
Other Income Income earned for the financial year ending 3.33% 4.70% September 30, 2018 inclusive of interest and other income amounted to $42,119,063.

There was a reduction in the company’s subvention of 26.83% 23.12% from fiscal 2017.

The composition of income for the 68.85% period is shown in Figure 1 below.

Table 1 below, summarizes the four types of income against budgetary allocation for the year under review.
TABLE 1 Income and Subvention for Fiscal Year 2018 INCOME CATEGORY Recurrent Subvention BUDGETED ALLOCATION ACTUAL INCOME VARIANCE 37,700,000 29,000,000 (8,700,000) Recognition of Deferred Income Project Grant ** Other Income - - 1,402,417 1,402,417 9,739,047 9,739,047 963,513 1,977,599 1,014,086 TOTAL INCOME & SUBVENTION $38,663,513 $42,119,063 $3,455,550 ** This relates to non-budgeted income received from the Ministry of Public Administration for the Microsoft 0365 subscription licenses of $4.69Mn and $5.04Mn from the Ministry of Trade and Industry for the SEW BOM I & II Projects.
ANNUAL REPORT 18 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H Management Discussion and Analysis Analysis of Financial Operations Expenditure Total expenditure inclusive of projects, operating costs, taxes and capital expenditure for the financial year was $51,088,343 representing an increase of 12.63% over the prior period of 2017.

This increase is attributable to project expenditure as shown in Table 2.
FIGURE 2 Analysis of Expenses for Fiscal Year 2017 Project Expenditure Staff Costs There was an overall 11.4% reduction on administrative Marketing and Advertising expenditure from $42.29Mn in fiscal 2017 to $37.46Mn in Other Administrative Expenses fiscal 2018.

Capital Expenditure 18.67% 1.97% 0.13% 24.70% 54.53% Figure 2 shows an analysis of expenses for the period.
19 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 2017-2018 Management Discussion and Analysis Analysis of Financial Operations Table 2 summarizes the expenditure items compared with the budgetary allocations for the period.
TABLE 2 Expenditure for Fiscal Year 2018 INCOME CATEGORY BUDGETED ALLOCATION ACTUAL EXPENDITURE VARIANCE Project Expenditure** - 12,619,086 (12,619,086) Staff Costs Marketing and Advertising Other Administrative Expenses Total Administrative Expenses 30,742,572 602,000 10,799,518 42,144,090 27,856,141 68,410 9,536,645 37,461,196 2,886,431 533,591 1,262,873 4,682,894 Capital Expenditure 650,000 1,008,061 (358,061) TOTAL EXPENDITURE $42,794,090 $51,088,343 $(8,294,253) ** These include pass throughs for the Microsoft 0365 subscription licenses of $4.69Mn and $5.04Mn from the Ministry of Trade and Industry for the SEW BOM I & II Projects.
Capital Expenditure A total of $1,008,061 was expended on the purchase of fixed assets for the period.

An analysis of the capital items purchased is set out in Table 3 below.
TABLE 3 Analysis of Capital Expenditure for Fiscal Year 2018 CAPITAL CLASSIFICATION ACTUAL EXPENDITURE Motor Vehicles Furniture and Fixtures Computer Equipment Office Equipment Leasehold Improvements Work in Progress 340,000 35,399 41,598 154,754 416,150 20,160 TOTAL CAPITAL EXPENDITURE $1,008,061 The Audited Financial Statements for the year ended September 30, 2018 are provided on pages 46 to 82.
ANNUAL REPORT 20 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 21 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 2017-2018 Business Review 2017-2018 ANNUAL REPORT 22 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H iGovTT has been identified as an important contributor in the implementation of the National ICT Plan 2017-2021.
The company continues to support its line Ministry, the Ministry of Public Administration in the delivery of e-government services to GoRTT.

During the fiscal year 2017-2018, improving governance and the overall delivery of core services and programmes to ministries, departments and agencies across GoRTT, has been the focus of the company.
Several notable accomplishments for this period include: ICT TRANSFORMATION PROJECTS The implementation of state of the art alert monitoring tools for both GovNeTT and ttconnect environments to allow for quicker response times for outages.

An online chat facility for ttconnect customers to be able to interact with a customer agent from any PC or smartphone device.

The Live Chat service, ttGovChat, provides users with instant communication via the instant messaging feature on www.ttconnect.gov.tt.
Live chat allows ttconnect client service specialists to respond quicker to questions about services and to solve problems faster.

The piloting of an ePayment platform, GovPayTT, which will allow ministries, departments and agencies to receive online payments from citizens and companies both locally and internationally.
Work has progressed on the implementation of this online payment platform for both the Ministry of the Attorney General (The Registrar General Department – Civil Registry and Business Review 2017-2018 the Intellectual Property Office) as well as the Ministry of Works and Transport Licensing Division in relation to providing an online payment facility for the renewal of driver’s permits.
Technical advisory and project management services for an Enterprise Content Management system to enhance personnel records management for the Service Commission Department.

Technical advisory and project management services for the Ministry of Trade’s project with the Treasury on the implementation of an electronic funds transfer framework for Government.

The project details how Government can utilise various electronic funds transfer methods to modernise the financial ecosystem within Government.
23 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 2017-2018 Creative TT - Creation of an online Music Technology Platform for MusicTT iGovTT has successfully completed a procurement exercise for the Trinidad and Tobago Music Company Limited (MusicTT) in terms of selecting a suitable partner for the development of a Music Tech Platform.
The project is a vehicle for the development of a national music ecosystem and the Music Tech Platform will act a “one-stop shop” for all things music locally.

It is envisioned that local stakeholders will be able to leverage their ttconnect ID as an authentication method to the service, allowing for a more convenient onboarding process.
Ministry of National Security - Skype for Business The Ministry of National Security requested the services of iGovTT to upgrade its internal telephone system to Skype for Business for Unified Communication.

iGovTT provided project management to oversee the successful completion of the upgrade on behalf of the Ministry.

This upgrade provided the Ministry with facilities such as Skype across devices, Skype’s Complete Meeting Solution as well as Skype’s Security Control and Compliance.
The project was successfully completed on 03 November 2017.

Ministry of National Security - Electronic Monitoring Solution iGovTT completed a technical procurement exercise for the Ministry of National Security, to obtain a suitable vendor to provide an electronic monitoring solution.

This solution is a part of wide-ranging reforms that will among other things, promote public safety through the active control and supervising of offenders and provide opportunities for offender rehabilitation.
The implementation of this electronic monitoring solution will be a major initiative that will deal with the challenges plaguing the criminal justice system whilst transforming and modernising the criminal justice landscape within Trinidad and Tobago.
ANNUAL REPORT 24 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H iGovTT Lord Harris Court Office, Remedial Works The company undertook remedial works to its Lord Harris Court office on 52 Pembroke Street, Port of Spain.

The work was undertaken in March 2018 and successfully completed in July 2018.

These works were necessary to ensure a safe place to work for employees.
Strategic Partnerships The company partnered with TSTT to reform Government procurement through the deployment of an eProcurement solution, e-Tender Software as a Service, that will allow for persons to both view, submit and pay for RFP packages online.

iGovTT in its efforts to develop the local ICT sector partnered with the University of the West Indies and COSTAATT, to provide graduating students with an internship opportunity at the company.
The students worked on various ICT development projects throughout the Public Sector, gaining first-hand experience in the ICT sector and leveraging their critical thinking to transform service delivery.

iGovTT and the Judiciary signed an MOU for the development and expansion of the Court Pay platform.

The project looks at using the platform for additional services such as the payment of fees and fines.
Corporate Social Responsibility and Brand Building ttconnect conducted an outreach in the Greenvale community which was affected by severe flooding.

The unit provided its services to persons in need of retrieving documentation.
25 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 2017-2018 Operational Performance 2017-2018 41 individual Requests for Approval of Information Systems/Information Technology hardware and software 19 individual Requests for Approval of hardware specifications 1491 Symantec installations on client computers 23 Symantec Endpoint (SEP) Managers* 3,206 client software installations inclusive of software new licenses, replacements, re-installations and upgrades* 357 Server software installations* *Completed in direct association to the Microsoft Enterprise Agreement (EA), a volume licensing agreement between the Government of Trinidad and Tobago (GoRTT) and the American multinational technology company, Microsoft Corporation.
The Operations Unit facilitated specialised IT training for 95 government participants from 19 different ministries, departments, agencies and statutory bodies over the course of five Microsoft Premier Workshops.

This training served to foster proactive maintenance of Microsoft server solution deployments within their respective institutions.
Additionally, iGovTT administered and managed support for the opening and closing of 87 Reactive Support cases via Microsoft Premier Hours on behalf of GoRTT stakeholders.

The following charts provide the breakdown of cases and the associated severity.

ANNUAL REPORT 26 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H Premier Reactive Case Utilization Summary: i.
Case Utilization By Severity: CASE SEVERITY Problem Resolution Hourly A - Critical Azure Exchange ISA Server O365 Windows NT Windows Server B - Urgent Azure Business Solutions Exchange Internet Server O365 Outlook SharePoint Portal Server Skype SQL Server Windows NT Windows Server C - Important Azure Exchange SharePoint Portal Server SQL Server Windows Server Support Assistance Hours B - Urgent SQL Server C - Important Azure Exchange Non Products O365 SharePoint Portal Server Windows Server Microsoft Online A - Critical O365 Online Systems B - Urgent Online Systems GRAND TOTAL Case Count Application Support 3,029,714 visits made to the ttconnect portal 513,736,462 hits 90.98% availability of the ttconnect portal over the reporting period 14,074 ttconnect IDs created 78 Tender Notices Online published Government Data Centre 99.45% availability of GovNeTT 64% ticket closure rate, GovNeTT 27 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 2017-2018 GovNeTT is the Wide Area Communications network commissioned for the government of Trinidad and Tobago, to seamlessly connect government ministries and state agencies.
GovNeTT Service Desk • Successfully closed approximately 6175 tickets to the GovNeTT Service Desk.

Gov.TT DNS • Registration and administration of an additional 55 GOV.TT DNS records.

GovNeTT Data Centre Co-locations • Data centre co-location services are utilised by 14 government ministries and agencies.
- Ministry of Trade and Industry - The Ministry of Education - Ministry of Finance - Auditor General - Ministry of Public Administration - iGovTT - Ministry of Health - Ministry of Public Utilities - Ministry of Foreign and CARICOM Affairs - Ministry of Rural Development and Local Government - Chief Personnel Officer - Trinidad and Tobago National Research & Education Network (TTRENT) - College of Science, Technology and Applied Arts of Trinidad and Tobago (COSTATT) - Tourism Development Company (TDC) ANNUAL REPORT 28 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H RACK DISTRIBUTION BY MINISTRY (40 Available) Unallocated 6, 15% GoRTT DC1, 7, 18% TDC 2, 5% COSTAATT 1, 3% Aud Gen /MOFA/eTeck 1, 3% MOH 1, 3% MOF 2, 5% MPU 1, 3% MOE (TTRENT/MTEST) 1, 3% TEST/MPA/MLG/CPO/OPM 1, 3% iGovTT 5, 13% IAP 1, 1, 3% IAP 4, 1, 3% GISL 2, 5% MTI, 7, 18% IAP 3, 1, 3% GovNeTT Usage With the increased utilisation of GovNeTT services over the period, several bandwidth redistribution exercises have taken place, to ensure that the services provided meet the needs of the users.
To this end, more than 30 bandwidth redistribution requests were completed over the course of the year.

GovNeTT Relocations • 25 GovNeTT Kit relocations were completed.

Gov.tt e-mail One of our mainstay service offerings continues to be that of Enterprise Exchange Mail via our Exchange 2007 platform.

Over the period, there has been over 1500 requests for User Account Administration, which includes, password resets, account creation and migrations.
29 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 2017-2018 ttconnect, a division of iGovTT, provides public access to Government information, services and programmes offered by the Government and state agencies.
This is done through various channels which includes the ttconnect Service Centres, ttconnect Online, ttconnect Express buses, ttconnect Self-Service Kiosks, ttconnect mobile, ttconnect Hotline through its Toll Free Contact number (800-8826), email addresses and its latest channel, ttGovChat.
ttconnect Channels and Utilisation 1. ttconnect Service Centres With seven convenient locations nationwide - Arima, Bon Accord, Chaguanas, Curepe, Princes Town, Sangre Grande and St. James, ttconnect Service Centres offer an alternative to traveling to Ministries in order to access and submit application forms for government services.

The satellite office at the Ministry of Trade and Industry in Port-of-Spain, only facilitates ttconnect ID and TTBizLink services.
During the period, the Service Centres facilitated: 34,725 applications for GoRTT services 11,785 general enquiries from citizens 48,385 service interactions 5,549 client feedback responses received 99.7% of clients reporting that they were satisfied with the service 95.3% of clients advised that they were attended to within ten minutes of entering the Service Centre 76.9% of clients completing their transaction within ten minutes ANNUAL REPORT 30 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 2. ttconnect Portal/Online ttconnect Online is an e-portal that provides 24/7 access to government information and services.
The e-portal is accessible via www.ttconnect.gov.tt and persons can search the website as a citizen, business or non-resident user.

During 2017-2018 fiscal year, 2,782,065 visits were made to the portal.

The portal provides the authentication engine for the ttconnect ID for all GoRTT eServices.

Single sign-on or SSO authentication has been implemented and is being used for e-Tax, a portal provided by the Inland Revenue Division for taxpayers to manage their tax accounts online.
Over the period 14,074 ttconnect IDs were created and associated with this authentication service.

3. ttconnect Express The ttconnect Express is our internet-enabled fleet of buses.

These buses offer all the services of a ttconnect service centre, but are mobile, allowing ttconnect staff to reach citizens directly in their communities.
During 2017-2018 fiscal year, the fleet made 69 trips to communities throughout Trinidad, facilitating 2,220 GoRTT service applications, distributing 307 government service forms and 1,954 general enquires were received.

4,481 service interactions were made.

Table 4 provides a sample of communities visited by the ttconnect Express.

March 2018 heralded the onset of e-Tax application initiatives via the Express buses.
The fleet visited commercial organisations to assist with the adoption of the e-Tax online service and more than 600 employees benefitted from this initiative.
31 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 2017-2018 TABLE 4 Sample of Communities visited by ttconnect Express fleet in 2017 - 2018 Barataria Five Rivers Maracas, St. Joseph Rio Claro California Fyzabad Palo Seco Sangre Grande Chaguanas La Romain Penal San Fernando Couva Macoya Point Lisas San Juan El Socorro Marabella Port of Spain St. Augustine 4. ttconnect Self-Serve Kiosks ttconnect Self-Serve Kiosks provide convenient access to Government information and services through a self-service user experience similar to that of an automated teller machine.
The kiosks are located at the Piarco International Airport, PTSC’s Deluxe Coach Lounge, San Fernando, ttconnect Service Centre Chaguanas, and Gulf City Mall, Lowlands, Tobago.

Users can connect to ttconnect Online on the kiosks and view and print application forms.

During 2017-2018 fiscal year, the kiosks facilitated 3,086 user sessions.

5. ttconnect Mobile ttconnect Mobile allows users to access a mobile-enabled version of ttconnect Online by entering ‘ttconnect.gov.tt’ into their phone’s browser.
During 2017-2018 fiscal year, ttconnect Mobile experienced 247,649 visits.

6. ttconnect Toll Free Contact Number The toll free contact number 800-TTCN (800-8826) allows the public to gain immediate telephone access to ttconnect Service Centres nationwide at no cost.

The ttconnect Hotline also provides an avenue for citizens to send their requests for information on GoRTT related services to the ttconnect email accounts: info.ttconnect@gov.tt and feedback@gov.tt.
During 2017-2018 fiscal year, 12,143 email requests were received and addressed.

ANNUAL REPORT 32 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H LIVE CHAT 7. ttGovChat Launched in July 2018, ttGovChat is a live chat platform where customers’ queries on government information and services are answered almost immediately.
Operational hours for ttGovChat are Monday to Friday 8:00am to 6:00pm, and Saturdays 8:00am to 12:00pm, except public holidays.

During the period July to September 2018, 12,215 ttGovChat interactions were completed with an average of 74% for chat satisfaction and 78% for ticket satisfaction.

ttconnect Partnerships ttconnect has partnered with various Ministries and Agencies to offer their services via the various ttconnect channels.
Pension Services Life Certificate Attestation Through its visiting officers’ model and in collaboration with the Treasury Division of the Ministry of Finance, ttconnect facilitated the Life Certificate Attestation service.

The initiative took place over the course of four days in October 2017.

A total of 1,127 pensioners were served within the Chaguanas community thus resulting in time and cost savings.
Filing Your Taxes Online The Ministry of Finance’s Division of Inland Revenue electronic tax filing system, e-Tax, was piloted through ttconnect in August 2015.

During the period October 1, 2017 to September 30, 2018, 14,074 individuals were given access to the e-Tax service with their ttconnect IDs.
33 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 2017-2018 Contracts Enterprise Agreement The Enterprise Agreement (EA) is the most strategic direct relationship a government can have with Microsoft.

In addition to the benefits inherent in a strategic partnership, the EA provides cash flow, cost savings and leverages economies of scale.
Under the agreement, GoRTT receives Microsoft product upgrades, technical support and resolution to issues, training and access to consultancy hours for Microsoft projects.

During the fiscal period, GoRTT continued to manage the Microsoft Enterprise Agreement (MEA).

The MEA, which expires June 2019, has resulted in cost reductions through preferred Government pricing and negotiated terms.
Endpoint Security for GoRTT GoRTT’s enterprise-wide contract for the provision of an information security “products and services” solution provides a comprehensive solution to protect endpoints deployed across GoRTT.

The management of this ensures that GoRTT continues to operate effectively and efficiently within a safe environment, that will assist in mitigating the risk of security breaches.
Endpoint security protects against: Virus and malware events which may potentially result in a complete halt to GoRTT’s electronic processing activities.

GoRTT users may find themselves unable to send and receive emails for an indeterminate period.

Ransom ware events that could potentially disable access to computing services and make unavailable associated GoRTT business processing activities.

Data breaches resulting from malware that gain access to unprotected systems and leak data to malicious actors.
ANNUAL REPORT 34 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H TTBizLink iGovTT continues to provide support to the TTBizLink platform, through the management of the Service Level Agreements, on behalf of the Ministry of Trade and Industry.
Training & Development In fiscal 2017-2018, training funds were allocated in line with the strategic objective of “Strengthening iGovTT’s internal capability in its core competencies for enhanced service delivery and customer satisfaction”.

During the period, 25% of persons (22 employees) were identified for training and participated in training initiatives.
These initiatives included training of the Solution Architect Office in Building World Class Dashboards, Security and Assurance staff in Certified ISO Internal Controls Architecture and a further 17 employees participated in developmental training initiatives.

14 Client Service Specialists benefitted from training in Customer Service offered by the Ministry of Public Administration’s Government Training Centre at no cost to the organisation.
Further, due to the imminent procurement requirements, members of the Procurement Unit were nominated to attend a seminar on the New Procurement Regulatory Framework hosted by the Coalition of Service Industries.

As the company moves forward in achieving its strategic objectives, increased training opportunities are expected to ensure that the staff are well equipped to deliver excellent service to iGovTT stakeholders.
35 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 2017-2018 Employee Relations Employee Engagement Events Several events were held during this fiscal period aimed at engendering espirit-de-corps.
These were: • iGovTT Christmas Celebrations • iGovTT Town Hall Meeting • Carnival Soiree and Extempo competition • Strategic Plan Roll Out and Launch • World Down Syndrome Day • Administrative Professional Day • Indian Arrival Day celebrations • Emancipation Day celebrations • ICT People Who Can Cook Cookout and Fun Events • Independence Day celebrations • Republic Day celebrations iGovTT's After School Care Facility The Company launched an after school care facility in January 2018.
Its aim is to promote workplace productivity via satisying the personal commitments of employees.

Student Vacation Internship Programme Nine tertiary-level undergraduate students embarked on an intensive eight-week internship at iGovTT.

During the eight-week programme, the interns were integrated into various areas in the company including IT project management, systems architecting, solution development, and production shared services operations.
The programme equipped the students with skills, knowledge and capabilities to ensure that they evolve into well-rounded individuals and future leaders.

The programme enabled the interns to gain first-hand experience in the ICT sector that complements their academic course of study and assisted in developing life skills.
ANNUAL REPORT 36 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H Employee Assistance Programme (EAP) The Company engaged the services of an EAP service provider and the contract was signed in June 2018.
Petortrin Employee Assistance Programme (PEAPSL) an agency that provides professional consultancy to individuals in areas that may affect productivity such as stress, substance abuse, conflicts within departments, as well as personal issues have been retained as the company’s provider of EAP services.

These services are available to iGovTT employees and their dependents and include counselling services and a 24 hour hotline available in cases of emergency and after working hours.
They also provide assistance to help employees to regain a functional level of operating after situations of crisis.

Employee Opinion Survey Employee Opinion Survey was conducted during the period.

After experiencing a steep decline in 2017 where employee satisfaction was 33%, overall satisfaction working at the company increased by almost half with approximately 64% responding positively.

The average for 2018 was 3.76, up from 2.98 in 2017.
Employees were pleased with the leadership and governance aspects of the company.

For example, the indicator, ‘The company’s mission, vision, values and strategic direction are clearly defined’, there was a marked increase of 69% in 2018 who ‘Agreed’ and ‘Strongly Agreed’ as compared to only 16% in 2017.

This may have been as a result of the communication of the strategic plan to all employees, via an internal launch in Jaunary 2018.
37 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 2017-2018 Year in Photos ANNUAL REPORT 38 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H Year in Photos iGovTT’s Strategic Plan launch Emancipation Day celebrations Employees at the company’s ICT People Who Can Cook Cookout and Fun Events 39 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 2017-2018 Year in Photos iGovTT’s Chairman Esther Le Gendre and CEO Kirk Henry with Dr Permanand Mohan, Head, Computer and IT Department UWI, alongside participants of the 2017/2018 internship programme ttconnect Client Service Representatives at the Trinidad and Tobago Regiment’s Mortgage Fair 2018 L-R: PS Joan Mendez - MPA, Senator the Hon.
Robert Le Hunte, Gerry Brooks, Chairman of TSTT’s Tender Committee and Esther Le Gendre, iGovTT Chairman at the eTender MOU Signing ANNUAL REPORT 40 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H Year in Photos iGovTT’s ICT Symposium entitled “Transforming Government ICT in a Changing Landscape” CEO, Kirk Henry speaks to students at UWI’s Department of Computing and IT, Boot Camp iGovTT’s representative at CANTO’s Girls in ICT Day event 41 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H 2017-2018 Audited Financial Statements ANNUAL REPORT 42 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11” H NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED F I N A N C I A L S T A T E M E N T S YEAR ENDING 30 SEPTEMBER 2018 CONTENTS PAGE Statement of Management’s Responsibilities Independent Auditor’s Report Statement of Financial Position Statement of Comprehensive Income Statement of Changes in Shareholder’s Equity Statement of Cash Flows 44 45 47 48 49 50 Notes to the Financial Statements 51 – 78 43 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11 M
A T I O N T E C H N O L O G Y C O M P A N Y L I M I T E D 2017-2018 F I N A N C I A L S T A T E M E N T S STATEMENT OF MANAGEMENT’S RESPONSIBILITIES Management is responsible for the following: Preparing and fairly presenting the accompanying financial statements of National Information and Communication Technology Company Limited, which comprise the statement of financial position as at 30 September 2018, the statements of comprehensive income, changes in equity and cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information; Ensuring that the company keeps proper accounting records; Selecting appropriate accounting policies and applying them in a consistent manner; Implementing, monitoring and evaluating the system of internal control that assures security of the company’s assets, detection/prevention of fraud, and the achievement of company operational efficiencies; Ensuring that the system of internal control operated effectively during the reporting period; Producing reliable financial reporting that comply with laws and regulations, including the Companies Act; and Using reasonable and prudent judgement in the determination of estimates.
In preparing these audited financial statements, management utilised the International Financial Reporting Standards, as issued by the International Accounting Standards Board and adopted by the Institute of Chartered Accountants of Trinidad and Tobago.

Where International Financial Reporting Standards presented alternative accounting treatments, management chose those considered most appropriate in the circumstances.
Nothing has come to the attention of management to indicate that the Company will not remain a going concern for next twelve months from the reporting date; or up to the date the accompanying financial statements have been authorised for issue, if later.

Management affirms that it has carried out its responsibilities as outlined above.
________________________________ _____________________________ Chief Executive Officer 18 December 2018 Chief Financial Officer 18 December 2018 ANNUAL REPORT 44 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11 INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF National Information and Communication Technology Company Limited The Members National Information and Communication Technology Company Limited Opinion We have audited the financial statements of National Information and Communication Technology Company Limited, which comprise the statement of financial position as at 30 September 2018, the statement of comprehensive income, changes in equity and cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies.
In our opinion, the financial statements present fairly, in all material respects, the financial position of National Information and Communication Technology Company Limited as at 30 September 2018 and its financial performance and its cash flows for the year then ended in accordance with International Financial Reporting Standards (‘IFRSs’).

Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (‘ISA’s).
Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report.

We are independent of National Information and Communication Technology Company Limited in accordance with the International Ethics Standards Board for Accountants’ Code of Ethics for Professional Accountants (‘IESBA Code’), and we have fulfilled our other ethical responsibilities in accordance with the IESBA code.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Responsibilities of Management and the Board of Directors for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with IFRSs, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and using the going concern basis of accounting unless management either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors is responsible for overseeing the company’s financial reporting process.
45 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11 2017-2018 F I N A N C I A L S T A T E M E N T S INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF National Information and Communication Technology Company Limited Auditors’ Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee than an audit conducted in accordance with ISAs will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with ISAs, we exercise professional judgement and maintain professional skepticism throughout the audit.

We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error; design and perform audit procedures responsive to those risks; and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.
The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Obtain an understanding of internal control relevant to the audit, in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

Conclude on the appropriateness of management’s use of the going concern basis of accounting, and based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern.
If we conclude that a material uncertainty exists, we are required to draw attention in our auditors’ report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion.

Our conclusions are based on the audit evidence obtained up to the date of our auditors’ report.

However, future events or conditions may cause the company to ceases to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with the Board of Directors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
The previous year’s accounts were audited by another firm of Chartered Accountants.
_______________ PKF Chartered Accountants & Business Advisors Barataria Trinidad 18 December 2018 ANNUAL REPORT 46 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11 STATEMENT OF FINANCIAL POSITION Current Assets: Cash and cash equivalents Accounts receivable and prepayments Taxation recoverable ASSETS Notes 5 6 30 September 2018 ($) 2017 ($) 114,903,172 21,559,770 324,912 124,249,114 21,036,122 66,538 Total Current Assets 136,787,854 145,351,774 Non-Current Assets Property, plant and equipment 7 8,071,220 9,010,050 Total Assets 144,859,074 154,361,824 LIABILITIES AND SHAREHOLDER’S EQUITY Current Liabilities: Accounts payable and accruals Taxation payable Deferred income 8 9 12,667,057 - 2,560,227 10,124,170 1,878,092 4,823,683 Total Current Liabilities 15,227,284 16,825,945 Non-Current Liabilities: Deferred taxation Total Liabilities Shareholders’ Equity: Contributed capital Accumulated surplus 10 958,152 901,023 16,185,436 17,726,968 11 5,393,923 123,279,715 5,393,923 131,240,933 Total Shareholder’s Equity 128,673,638 136,634,856 Total Liabilities and Shareholder’s Equity 144,859,074 154,361,824 These financial statements were approved by the Board of Directors and authorised for issue on 18 December 2018 and signed on their behalf by: ____________________ Director
 ___________________ Director (The accompanying notes form an integral part of these financial statements) 47 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11 2017-2018 F I N A N C I A L S T A T E M E N T S STATEMENT OF COMPREHENSIVE INCOME Notes For the year ended 30 September 2018 ($) 2017 ($) 16 17 18 19
 22 29,000,000 (161,005) 122,727 13,128,209 39,635,500 416,228 26,929 1,823,419 42,089,931 (12,619,086) 41,902,076 (2,184,910) 29,470,845 39,717,166 28 29,104 51 157,238 29,499,977 39,874,455 39,332,684 (6,954) 42,229,099 6,421 39,325,730 42,235,520 (9,825,753) 1,864,535 (2,361,065) (60,568) (7,961,218) (2,421,633) Income: Operating Income: Subvention Project management fees Tender fees Project income Less: Operating costs Operating surplus Other income: Interest income Other income Total Income Expenditure: Administrative expenses (Gain)/loss on foreign exchange translation Total Expenditure Net loss before taxation Taxation Net loss for the year Other comprehensive loss: Items that may not be reclassified subsequently to profit or loss: Prior year adjustment Depreciation on Vested Assets - - (1,521,786) 169,000 Total Comprehensive Loss for the year (7,961,218) (3,774,419) (The accompanying notes form an integral part of these financial statements) ANNUAL REPORT 48 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11 STATEMENT OF CHANGES IN EQUITY Stated Capital ($) Accumulated Surplus ($) Total Equity ($) Balance as at 1 October 2016 22,293,923 135,015,352 157,309,275 Share application – vested assets rescinded (16,900,000) 169,000
 (16,731,000) Prior year adjustment - (1,521,786) (1,521,786) Total Comprehensive Loss for the year - (2,421,633) (2,421,633) Balance as at 30 September 2017 5,393,923 131,240,933 136,634,856 Balance as at 1 October 2017 5,393,923 131,240,933 136,634,856 Total Comprehensive Loss for the year - (7,961,218) (7,961,218) Balance as at 30 September 2018 5,393,923 123,279,715 128,673,638 (The accompanying notes form an integral part of these financial statements) 49 ANNUAL REPORT NATIONAL INFORMATION AND
 COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11 2017-2018 F I N A N C I A L S T A T E M E N T S STATEMENT OF CASH FLOWS Operating Activities: Net loss before taxation Adjustment for: Depreciation (Gain)/loss on disposal of property, plant and equipment Prior year adjustment For the year ended 30 September 2018 ($) 2017 ($) (9,825,753) (2,361,065) 1,666,621 (63,449) - 1,719,891 3,716 (1,521,786) (8,222,581) (2,159,244) Changes in non-cash working capital changes: Net change in accounts receivables and prepayments Net change in accounts payable and accruals Net change in deferred income Taxation paid (net) (523,648) 2,542,887 (2,263,456) (214,802) 48,370,463 (33,561,007) (19,907,512) (982,901) Cash used in operating activities (8,681,600) (8,240,201) Financing Activities: Proceeds from disposal of property, plant and equipment Purchase of property, plant and equipment 343,719 (1,008,061) 1,624 (971,724) Cash used in financing activities (664,342) (970,100) Net change in cash resources (9,345,942) (9,210,301) Cash resources, beginning of year 124,249,114 133,459,415 Cash resources, end of year 114,903,172 124,249,114 Represented by: Cash and cash equivalents 114,903,172 124,249,114 (The accompanying notes form an integral part of these financial statements) ANNUAL REPORT 50 NATIONAL INFORMATION AND
 COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11 NOTES TO THE FINANCIAL STATEMENTS - 30 SEPTEMBER 2018 1.
Incorporation and Principal Business Activity: The National Information and Communication Technology Company Limited (“the company” or iGovTT) was incorporated in the Republic of Trinidad and Tobago on the 20 July 2009 and is wholly owned by the Government of the Republic of Trinidad and Tobago.

The registered office is situated at Lord Harris Court, #52 Pembroke Street, Port- of-Spain.
The principal activity of the organisation is the execution and administration of enterprise- wide Information and Communication Technology (ICT) Strategies and Programmes for Ministry Departments, Divisions and Agencies.

The objective is to ensure more effective alignment, coordination, integration, consistency, security, inter-operability and cost effectiveness of ICT-related projects and initiatives.
It also managed ttConnect – a Government portal that allows the public to access a myriad of Government services.

2.

Summary of Significant Accounting Policies: a) Basis of Financial Statements Preparation - These financial statements are prepared in accordance with International Financial Reporting Standards (IFRSs) as issued by the International Accounting Standards Board (IASB).

They are stated in Trinidad and Tobago dollars, expressed in whole dollars and prepared on the historical cost basis.
b) Fair Value Fair value is the price that would be received to sell an asset or paid to transfer a liability the measurement date.
transaction between market participants at in an orderly For financial reporting purposes, fair value measurements are categorised into Levels 1, 2 or 3 based on the degree to which the inputs to the fair value measurements are observable: • • • Level 1 inputs are considered the most reliable evidence of fair value and consist of quoted prices in active markets for identical assets or liabilities; Level 2 inputs are inputs (other than quoted prices within Level 1) that are either directly or indirectly observable.
They are used when quoted prices for the identical asset or liability are not available; and Level 3 inputs are unobservable inputs and are used if little or no market activity occurs for the asset or liability.
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Summary of Significant Accounting Policies (Cont’d): c) New Accounting Standards and Interpretations - The company has not applied the following standards, revised standards and interpretations that have been issued but are not yet effective as they either do not apply to the activities of the company or have no material impact on its financial statements.
IFRS 1 IFRS 2 IFRS 4 IFRS 9 IFRS 9 IFRS 9 First-time Adoption of Financial Reporting Standards - Amendments regarding the deletion of short-term exemptions for first-time adopters (effective for accounting periods beginning on or after 1 January 2018).

Share-based Payment - Amendments regarding the classification and measurement of share-based payment transactions (effective for accounting periods beginning on or after 1 January 2018).
Insurance Contracts - Amendments regarding the application of IFRS 9 ‘Financial Instruments’ with IFRS 4 ‘Insurance Contracts’ (effective for accounting periods beginning on or after 1 January 2018).

Financial Instruments (effective for accounting periods beginning on or after 1 January 2018).

Financial Instruments - Amendments regarding the application of IFRS 9 ‘Financial Instruments’ with IFRS 4 ‘Insurance Contracts’ (effective for accounting periods beginning on or after 1 January 2018).
Financial Instruments - Amendments regarding prepayment features for accounting periods with negative compensation (effective beginning on or after 1 January 2019).

IFRS 15 Revenue from Contracts with Customers (effective for accounting periods beginning on or after 1 January 2018).

IFRS 16 Leases (effective for accounting periods beginning on or after 1 January 2019).

IFRS 17 Insurance Contracts (effective for accounting periods beginning on or after 1 January 2021).
IAS 28 IAS 40 Investment in Associates - Amendments regarding the long-term interests in associates and Joint Ventures (effective for accounting periods beginning on or after 1 January 2019).

Investment Property transfer of investment property (effective for accounting periods beginning on or after 1 July 2018).
- Amendments regarding the ANNUAL REPORT 52 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11 NOTES TO THE FINANCIAL STATEMENTS - 30 SEPTEMBER 2018 2.
Significant Accounting Policies (Cont’d): c) New Accounting Standards and Interpretations (cont’d) - IFRIC 22 Foreign Currency Transactions and Advance Consideration (effective for accounting periods beginning on or after 1 January 2018).

IFRIC 23 Uncertainty over accounting periods beginning on or after 1 January 2019).

Income Tax Treatments (effective for The company has not applied IFRS 9 which has been issued but is not yet effective.
Although its effect is likely to be significant, the impact cannot be determined with any degree of certainty, particularly with regard to twelve-month and life-time expected credit loss.

d) Property, plant and equipment - Property, plant and equipment are stated at historical cost less accumulated depreciation and accumulated impairment losses.

Cost includes expenditure that is directly attributable to the acquisition of the asset.
The cost of self-constructed assets includes the cost of materials and direct labour, any other costs directly attributable to bringing the assets to a working condition for their intended use, the costs of dismantling and removing the items and restoring the site on which they are located, and capitalised borrowing costs.

Purchased software that is integral to the functionality of the related equipment is capitalised as part of the equipment.
When parts of an item of property, plant and equipment have different useful lives, they are accounted for as separated items of property, plant and equipment.

The assets’ residual values and useful lives are reviewed and adjusted if appropriate, at each reporting date.

An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.
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Significant Accounting Policies (Cont’d): d) Property, plant and equipment (cont’d) - Depreciation is provided using the reducing balance method (buildings straight- line method).

The following rates considered appropriate to write-off the assets over their estimated useful lives are applied: Buildings Office Equipment Motor Vehicles - - - 2% 12.5% 25% Furniture and Fittings Computers Equipment - - 12.5% 25% Leasehold Improvements - 12.5% No depreciation is provided on Work-in-Progress.
e) Financial Instruments - Financial assets and financial liabilities are recognised on the company’s Statement of Financial Position when the company becomes a party to the contractual provisions of the instrument.

Financial assets Classification The company classified its financial assets in the following categories: • • • • Loans and receivables: These are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market.
Held-to-maturity: These are non-derivative financial assets fixed or determinable payments and fixed maturity dates where management has the positive intention and the ability to hold to maturity.

At fair value through profit and loss: These are irrevocable designated upon initial recognition and changes in fair value are recognised in profit and loss.

Available for sale: These are those not classified as loans and receivables, held-to-maturity investments or at fair value through profit or loss.
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Significant Accounting Policies (Cont’d): e) Financial Instruments (cont’d) - Recognition and Measurement Financial assets are initially recognised at fair value plus transactions costs except for financial assets at fair value through profit and loss, which are recognised at fair value.

Transaction costs for financial assets at fair value through profit and loss are recognised immediately as expenses.
Regular purchases and sales of financial assets are recognised on the trade date – date on which the company commits to purchase or sell the asset.

Derecognition Financial assets are derecognised when the contractual right to receive the cash flows from these assets have ceased to exist or the assets have been transferred and substantially all the risks and rewards of ownership of the assets are also transferred.
Cash and Cash Equivalents Cash and cash equivalents consist of highly liquid investments with original maturities of three months or less and are carried at cost, which approximates market value.

Accounts Receivable and Prepayments Accounts receivable are measured at initial recognition at fair value, and are subsequently measured at amortised cost using the effective interest rate method.
Appropriate allowances for estimated irrecoverable amounts are recognised in the Statement of Comprehensive Income when there is objective evidence that the asset is impaired.

The allowance recognised is measured as the difference between the asset’s carrying amount and the present value of estimated future cash flows discounted at the effective interest rate computed at initial recognition.
Accounts Payable and Accruals Accounts payable and accruals are initially measured at fair value, and are subsequently measured at amortised cost, using the effective interest rate method.
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Significant Accounting Policies (Cont’d): f) Taxation - Current Tax Current tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from or paid to the taxation authorities.

The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the date of the Statement of Financial Position.
Deferred Tax Deferred income tax is provided, using the liability method on all temporary differences at the date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes.

Deferred tax liabilities are recognised for all taxable temporary differences except where the timing of the reversal of the temporary difference can be controlled and it is probable that the temporary difference will not reverse in the foreseeable future.
g) Government subvention - Grants from the Government of the Republic of Trinidad and Tobago are recognised at their fair value where there is a reasonable assurance that the grant will be received and the company will comply with all the attached conditions.

Unconditional grants related to the on-going operations of the company are recognised when the amount can be reliably measured and it is probable that future economic benefits will flow to the company.
Grants that relate to recurrent costs are deferred as liabilities and recognised in the Statement of Comprehensive Income over the period necessary to match them with the costs they are intended to compensate.

Grants in excess of recurrent costs are deferred.

in the Statement of Grants that relate to capital costs are recognised Comprehensive Income as revenue on a systematic basis over the life of the asset.
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Significant Accounting Policies (Cont’d): h) Stated capital - The stated capital consists of a $5,000,010 capital investment by the Government of the Republic of Trinidad and Tobago.

During the fiscal year 2016 and 2017, there was a transfer of capital investment in accordance with Cabinet decision dated 23 April 2009 of vested assets, which instructed the company to treat said assets as stated capital.
The company has recognised as a capital injection, the transfer of two motor vehicles for use in the operations of the company.

The value of the capital injection is the fair value of the assets at the date of transfer.

The value was determined by an external independent valuator.
Although the initial transfer was for two motor vehicles and a building, the decision to transfer the building was rescinded on 13 July 2017 through Cabinet Minute Note 127. i) Operating leases - The leases entered into by the company which do not transfer substantially all the risk and benefits of ownership are classified as operating leases.

The total payments made under operating leases are charged to other operating expenses in income on a straight-line basis over the period of the lease.
When an operating lease is terminated before the lease period has expired, any payment required to be made to the lessor by way of penalty is recognised as an expense in the period in which termination takes place.

j) Provisions - A provision is recognised if, as a result of a past event, the company has a present legal or constructive obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation.
k) Borrowings - Borrowings are initially measured at transaction price (that is the present value of cash payable to the lender, including transaction costs).

Borrowings are subsequently stated at amortised cost.

Interest expense is recognised on the basis of the effective interest rate method and is included in finance costs.

Borrowings costs are recognised in profit and loss in the period in which they are incurred.
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Significant Accounting Policies (Cont’d): l) Impairment - The carrying amounts of the company’s assets are reviewed at each reporting date to determine whether there is any indication of impairment.

If such an indication exists, the asset’s recoverable amount is estimated.

An impairment loss is recognised whenever the carrying amount of an asset exceeds its recoverable amount.

Impairment losses are recognised in the Statement of Comprehensive Income.
An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount.

An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortisation, if no impairment loss had been recognised.
m) Revenue Recognition - Subvention This pertains to grants from the Government of the Republic of Trinidad and Tobago (“GORTT”) to fund the operations of the company and GORTT ICT-wide projects.

Project Management Fees This pertains to fees for managing projects and consultation on ICT procurement performed for GORTT and state entities.

Other Income This pertains to income from various sources including interest income and tender fees.
n) Foreign Currency Transactions - Foreign currency transactions are translated at the exchange rates ruling at the date of the transactions and any gains or losses arising are taken into the Statement of Comprehensive Income.

Assets and liabilities denominated in foreign currencies are expressed in Trinidad and Tobago currency at rates of exchange ruling at the reporting date.
o) Comparative Information - Where necessary, comparative amounts have been adjusted to conform with the changes in presentation in the current year.

ANNUAL REPORT 58 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11 NOTES TO THE FINANCIAL STATEMENTS - 30 SEPTEMBER 2018 3.
Financial Risk Management: Risk Management The risk management process is an integral part of management and it is vital in the health and safety of employees and members of the public.

Risk management structure The company’s risk management structure assigns responsibilities to the following as outlined in the State Enterprises Performance Monitoring Manual.

Role of the Board The Board of Directors, under the Companies Act 1995, directs the management of the business and affairs for the company.
The Board performs a set of specific functions aimed at meeting the mission of the company.

Its main responsibility lies in planning, monitoring and controlling the activities of the company so as to ensure optimal utilisation of its resources and the achievement of its corporate objectives.

It ensures that policies and business decisions taken at the Board level are implemented.
The Board also ensures that the policies and objectives of the company reflect the policies of the Government of the Republic of Trinidad and Tobago (GORTT).

It is the Board’s responsibility to ensure the company is staffed by competent senior management personnel, to set standards and to review managerial performance in the context of the company’s objectives.
Role of Internal Audit Internal audit is an independent, objective, assurance and consulting activity designed to add value and improve the company’s operations.

It helps the company to achieve its objectives by evaluating the effectiveness of risk management, control and governance processes.

Role of the Finance Committee This Committee is appointed by the Board to act in an advisory capacity.
The Committee’s primary duties and responsibilities are to formulate and recommend policies and procedures to the Board for approval.

The Committee also continually reviews policies and procedures in light of economic and business conditions, to ensure relevance to the company and where needed, make recommendations for Board approval.
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Financial Risk Management (Cont’d): The following table summarises the carrying amounts and fair values of the company’s financial assets and liabilities: 2018 Carrying Value ($) Fair Value ($) Financial Assets Cash and cash equivalents Accounts receivable and prepayments 114,903,172 21,559,770 114,903,172 21,559,770 Financial Liabilities Accounts payable and accruals 12,667,057 12,667,057 2017 Carrying Value ($) Fair Value ($) Financial Assets Cash and cash equivalents Accounts receivable and prepayments 124,249,114 21,036,122 124,249,114 21,036,122 Financial Liabilities Accounts payable and accruals 10,124,170 10,124,170 The company is exposed to interest rate risk, credit risk, liquidity risk, currency risk, operational risk, compliance risk and reputation risk.
The risk management policies employed by the company to manage these risks are discussed below: a) Interest Rate Risk - Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates.

The company is exposed to interest rate risk through the effect of fluctuations in the prevailing levels of interest rates on interest bearing financial assets and liabilities.
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Financial Risk Management (Cont’d): a) Interest Rate Risk (cont’d) - Interest Rate Sensitivity Analysis The company’s exposure to interest rate risk is summarised in the table below, which analyses assets and liabilities at their carrying amounts categorised according to their maturity dates.
2018 Interest Rate ($) Up to 1 year ($) 1 to 5 years ($) Over 5 years ($) Non- Interest Bearing ($) Total ($) Financial Assets Cash and cash equivalents Accounts receivable and prepayments 0.08% 114,895,172 - - 8,000 114,903,172 0.00% - - - 21,559,770 21,559,770 114,895,172 - - 21,567,770 136,462,942 Financial Liabilities Accounts payable and accruals 0.00% - - - 12,667,057 12,667,057 - - - 12,667,057 12,667,057 2017 Interest Rate ($) Up to 1 year ($) 1 to 5 years ($) Over 5 years ($) Non- Interest Bearing ($) Total ($) Financial Assets Cash and cash equivalents Accounts receivable and prepayments 0.08% 124,241,144 - - 8,000 124,249,114 0.00% - - - 21,036,122 21,036,122 124,241,114 - - 21,044,122 145,285,236 Financial Liabilities Accounts payable and accruals 0.00% - - - 10,124,170 10,124,170 - - - 10,124,170 10,124,170 61 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11 2017-2018 F I N A N C I A L S T A T E M E N T S NOTES TO THE FINANCIAL STATEMENTS - 30 SEPTEMBER 2018 3.
Financial Risk Management (Cont’d): b) Credit Risk - Credit risk arises when a failure by counter parties to discharge their obligations could reduce the future cash inflows from financial assets on hand at the reporting date.

The company relies on its policies and guidelines on trade debtor management, which establishes the policies governing the granting of credit to customers and provides a comprehensive framework for prudent risk management of the credit function.
These guidelines communicate the company’s credit philosophy; provide policy guidelines to team members involved in granting credit; establish minimum standards for credit analysis, documentation, decision making and post-disbursement administration; and create the foundation for a sound credit portfolio.

The company’s debtor’ portfolio is managed and consistently monitored by management and where necessary, provisions have been established for potential credit losses on delinquent accounts.
Cash balances are held with high credit quality financial institutions and the company has policies to limit the amount of exposure to any single financial institution.

The company also actively monitors global economic developments and government policies.
The maximum exposure to credit risk at year end was: Trade receivables, net Cash Credit risk The aging of trade receivables at year-end was: Current 1-30 days due 31-90 days due Over 90 days due 30 September 2018 ($) 2017 ($) 14,728,951 114,903,172 8,848,890 124,249,114 129,632,123 133,098,004 1,384,208 178,275 5,481,698 8,199,600 786,566 344,284 (91,995) 9,199,099 15,243,781 10,237,954 No impairment losses were recognised for trade receivables in 2018 (2017: Nil).
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Financial Risk Management (Cont’d): c) Liquidity Risk - Liquidity risk is the risk that arises when there is a mismatch in the maturity of assets and liabilities.

Although an unmatched position can enhance profitability, it also increases the risk of losses.

To minimise such losses, the company maintaining sufficient cash and other highly liquid current assets and has credit facilities available.
Liquidity Gap The table below, which analyses assets and liabilities based on the remaining period from the reporting date to the contractual maturity date, summarises the company’s exposure to liquidity risk: 2018 Up to 1 year ($) 1 to 5 years ($) Over 5 Years ($) Total ($) Financial Assets Cash and cash equivalents Accounts receivable prepayments and 114,903,172 - - 114,903,172 21,559,770 - - 21,559,770 136,462,942 - - 136,462,942 Financial Liabilities Accounts payable and accruals 12,667,057 - - 12,667,057 12,667,057 - - 12,667,057 2017 Up to 1 year ($) 1 to 5 years ($) Over 5 Years ($) Total ($) Financial Assets Cash and cash equivalents Accounts receivable prepayments and 21,036,122 124,249,114 - - - 124,249,114 - 21,036,122 145,285,236 - - 145,285,236 Financial Liabilities Accounts payable and accruals 10,124,170 - - 10,124,170 10,124,170 - - 10,124,170 63 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11 2017-2018 F I N A N C I A L S T A T E M E N T S NOTES TO THE FINANCIAL STATEMENTS - 30 SEPTEMBER 2018 3.
Financial Risk Management (Cont’d): d) Currency Risk - Currency risk is the risk that the value of financial instruments will fluctuate due to changes in foreign exchange rates.

Currency risk arises when future commercial transactions and recognised assets and liabilities are denominated in a currency that is not the company’s measurement currency.

The company is exposed to foreign exchange risk arising from various currency exposures primarily with respect to the United States Dollar.
The company’s management monitors the exchange rate fluctuations on a continuous basis and acts accordingly.

e) Operational Risk - Operational risk is the risk that derives from deficiencies relating to the company’s information technology and control systems, as well as the risk of human error and natural disasters.

The company’s systems are evaluated, maintained and upgraded continuously.
f) Compliance Risk - Compliance risk is the risk of financial loss, including fines and other penalties, which arise from non-compliance with laws and regulations of the state.

The risk is limited to the extent of monitoring controls applied by the company.

g) Reputation Risk - The risk of loss of reputation arising from the negative publicity relating to the company’s operations (whether true or false) may result in a reduction of its clientele, reduction in revenue and legal cases against the company.
The company applies a strategy of public relations exercises to minimise this risk.

4.

Critical Accounting Estimates and Judgments: The preparation of financial statements in conformity with IFRSs requires the use of certain critical accounting estimates and requires management to exercise its judgment in the process of applying the company’s accounting policies.
It also requires the use of assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.

Although these estimates are based on management’s best knowledge of current events and actions, actual results may ultimately differ from those estimates.
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Critical Accounting Estimates and Judgments (Cont’d): Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Actual results could differ from those estimates and assumptions concerning the future.
Changes in accounting estimates are recognised in the Statement of Comprehensive Income in the period in which the estimate is changed, if the change affects that period only, or in the period of the change and future periods if the change affects both current and future periods.
The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date (requiring management’s most difficult, subjective or complex judgements) that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: i) Impairment of assets Management assesses at each reporting date whether assets are impaired.
An asset is impaired when the carrying value is greater than its recoverable amount and there is objective evidence of impairment.

Recoverable amount is the present value of the future cash flows.

Provisions are made for the excess of the carrying value over its recoverable amount.
ii) Property, plant and equipment Management exercises judgement in determining (i) whether future economic benefits can be derived from expenditures to be capitalised; and (ii) the useful lives and residual values of these assets.

iii) Provisions The recognition of provisions involves assumptions about the probability, amount and timing of an outflow of resources embodying economic benefits.
A provision is recognised to the extent that an outflow of resources embodying economic benefits is probable and a reliable estimate can be made.

iv) Contingent liabilities Management applies its judgement to the facts and advice it receives from its attorneys, advocates and other advisors in assessing if an obligation is probable, more likely than not, or remote.

Such judgement is used to determine if the obligation is recognised as a liability or disclosed as a contingent liability.
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Critical Accounting Estimates and Judgments (Cont’d): v) Revenue The organisation recognises revenue when the value can be reliably measured and when it is probable that future economic benefit will flow to the organisation.

vi) Income taxes Estimates are required in determining the charge for income taxes.

There are some transactions and calculations for which the ultimate tax determination is uncertain during the ordinary course of business.
The company recognises liabilities for anticipated tax issues based on estimates of whether additional taxes will be due.

Where the final outcome of these matters is different from the amounts that were initially recorded, such differences will impact the income tax and deferred tax liabilities in the period in which such determination is made 5.
Cash and Cash Equivalents: Cash in hand Cash at bank – iGovTT Cash at bank – ttConnect 30 September 2018 ($) 2017 ($) 8,000 109,466,863 5,428,309 8,000 119,894,528 4,346,586 114,903,172 124,249,114 ANNUAL REPORT 66 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11 NOTES TO THE FINANCIAL STATEMENTS - 30 SEPTEMBER 2018 6.
Accounts Receivable and Prepayments: Trade receivables Provision for doubtful debts Deferred expenses VAT recoverable Other receivable Provision for Doubtful Debts Balance at beginning of year Bad debts recovered 30 September 2018 ($) 2017 ($) 15,243,781 (514,830) 10,237,954 (1,389,064) 14,728,951 8,848,890 1,869,972 4,823,958 136,889 4,716,655 4,061,074 3,409,503 21,559,770 21,036,122 1,389,064 (874,234) 1,437,552 (48,488) Balance at end of year 514,830 1,389,064 67 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11 2017-2018 F I N A N C I A L S T A T E M E N T S NOTES TO THE FINANCIAL STATEMENTS - 30 SEPTEMBER 2018 7.
Property, Plant and Equipment : Cost Furniture and Fittings ($) Office Equipment ($) Computer Equipment ($) Motor Vehicles ($) Leasehold Improvements ($) Work in Progress ($) Total ($) Balance as at 1 October 2017 Additions Reclassifications Disposals 5,834,726 35,399 (5,584,785) - 3,404,126 154,754 - - 6,732,302 41,598 - (5,954) 2,653,825 340,000 - (563,251) - 416,150 5,584,785 - 150,796 20,160 - - 18,775,775 1,008,061 - (569,205) Balance as at 30 September 2018 285,340 3,558,880 6,767,946 2,430,574 6,000,935 170,956 19,214,631 Accumulated Depreciation Balance as at 1 October 2017 Charge for the year Reclassifications Disposals 1,740,868 21,891 (1,650,574) - 1,816,470 235,947 - - 4,301,349 750,117 - (1,477) 1,907,038 149,550 - (287,458) - 509,116 1,650,574 - - - - - 9,765,725 1,666,621 - (288,935) Balance as at 30 September 2018 112,185 2,052,417 5,049,989 1,769,130 2,159,690 - 11,143,411 Net Book Value Balance as at 30 September 2018 173,155 1,506,463 1,717,957 661,444 3,841,245 170,956 8,071,220 Balance as at 30 September 2017 4,093,858 1,587,656 2,430,953 746,787 - 150,796 9,010,050 ANNUAL REPORT 68 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11 NOTES TO THE FINANCIAL STATEMENTS - 30 SEPTEMBER 2018 7.
Property, Plant and Equipment (Cont’d): Cost Building ($) Furniture and Fittings ($) Office Equipment ($) Computer Equipment ($) Motor Vehicles ($) Work in Progress ($) Total ($) Balance as at 1 October 2016 Additions Disposals 16,900,000 - (16,900,000) 5,830,722 4,004 - 3,292,052 112,074 - 6,293,016 461,276 (21,990) 2,410,250 243,575 - - 150,796 - 34,726,040 971,725 (16,921,990) Balance as at 30 September 2017 - 5,834,726 3,404,126 6,732,302 2,653,825 150,796 18,775,775 Accumulated Depreciation Balance as at 1 October 2016 Charge for the year Disposals 169,000 - (169,000) 1,156,424 584,444 1,596,790 219,680 - - 3,637,628 680,370 (16,649) 1,671,641 235,397 - - - - 8,231,483 1,719,891 (185,649) Balance as at 30 September 2017 - 1,740,868 1,816,470 4,301,349 1,907,038 - 9,765,725 Net Book Value Balance as at 30 September 2017 - 4,093,858 1,587,656 2,430,953 746,787 150,796 9,010,050 Balance as at 30 September 2016 16,731,000 4,674,298 1,695,262 2,655,388 738,609 - 26,494,557 69 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11 2017-2018 F I N A N C I A L S T A T E M E N T S NOTES TO THE FINANCIAL STATEMENTS - 30 SEPTEMBER 2018 8.
Accounts Payable and Accruals: Trade payables Accruals Other 9.
Deferred Income: 30 September 2018 ($) 2017 ($) 8,583,980 2,979,558 1,103,519 3,981,011 3,947,237 2,195,922 12,667,057 10,124,170 30 September 2018 ($) 2017 ($) Advance Payments - Balance at beginning of the year Advanced billings Transfer to Statement of Comprehensive Income 4,823,683 - (2,263,456) 3,526,106 15,761,219 (14,463,642) Balance as at end of the year 2,560,227 4,823,683 Microsoft Agreement - Balance at beginning of the year Increases Reversals during the year - - - - 21,205,089 (21,205,089) Balance as at end of the year - - 2,560,227 1,823,419 4,823,683 ANNUAL REPORT 70 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11 NOTES TO THE FINANCIAL STATEMENTS - 30 SEPTEMBER 2018 10.
Deferred Taxation: 30 September 2018 ($) 2017 ($) Balance at beginning of year Effect on Statement of Comprehensive Income 901,023 57,129 1,196,772 (295,749) Balance at end of year 958,152 901,023 Deferred taxation is attributable to the following item: Excess of net-book-value over written-down value 958,152 901,023 11.
Stated Capital: Authorised Unlimited number of shares at no par value Issued and outstanding 10 shares at no par value Issued and fully paid 5,000,000 shares at no par value 30 September 2018 ($) 2017 ($) 10 10 5,000,000 5,000,000 Share application * 393,913 393,913 5,393,923 5,393,923 * This relates to assets vested to the company by the Government of the Republic of Trinidad and Tobago (GORTT), which forms part of the company’s stated capital as instructed by Cabinet decision dated 23 April 2009.
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Related Party Transactions: As the company is wholly owned by the Government of the Republic of Trinidad and Tobago (GORTT) and given its mandate, these are the significant transactions entered into with other government controlled entities (Ministries and State Agencies): • • Contracts for Procurement Contract Management government ministries.
for enterprise wide government agreements for Key management personnel Key management personnel receive compensation in the form of short-term, employee benefits and post-employment benefits.

Short-term benefits: Directors Executive Management Post employment benefits: Executive Management 13.
Fair Values: 30 September 2018 ($) 2017 ($) 561,000 6,089,181 474,777 6,780,860 1,325,258 1,212,019 7,975,439 8,467,656 Fair value is the amount for which an asset could be exchanged, or a liability settled between knowledgeable, willing parties in an arm’s length transaction.

The existence of published price quotation in an active market is the best evidence of fair value.
Where market prices are not available, fair values are estimated using various valuation techniques, transactions between knowledgeable, willing parties, if available, current fair value of another financial instrument that is substantially the same and discounted cash flow analysis.
including using length market recent arm’s The following methods have been used to estimate the fair values of various classes of financial assets and liabilities: Current Assets and Liabilities The carrying amounts of current assets and liabilities are a reasonable approximation of the fair values because of their short-term nature.
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Capital Risk Management: The company manages its capital to ensure that it will be able to continue as a going concern while maximising the return to its shareholder, whilst providing value to the clients.

The company’s overall strategy remains unchanged from previous years.

The capital structure of the company consists of equity attributable to its shareholder, and comprises stated capital and accumulated surplus.

15.
15.

Operating Leases: Non-cancellable operating payable as follows: Less than one year Between one and five years 30 September 2018 ($) 2017 ($) lease rentals are 1,952,400 7,809,600 2,143,029 8,572,118 9,762,000 10,715,147 During the year, $1,920,969 (2017: $2,202,163) was recognized as an expense in the Statement of Comprehensive Income in respect of operating leases.

16.
16.

Subvention: 30 September 2018 ($) 2017 ($) Balance, beginning of the year Subventions received during the year – iGovTT Subventions received during the year – ttConnect Recognised in Statement of Comprehensive Income - 21,000,000 8,000,000 - 31,100,000 8,535,500 (29,000,000) (39,635,000) Balance, end of the year - - Funding for the operations of the company is provided through Government subvention.
During the year the company received subventions for recurrent expenditure in the sum for the year ended 30 September 2018 (2017: $39,635,500 ).
of $29,000,000 73 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11 2017-2018 F I N A N C I A L S T A T E M E N T S NOTES TO THE FINANCIAL STATEMENTS - 30 SEPTEMBER 2018 17.

Project Income: Advance Payments Microsoft Agreement iGovTT ttConnect 18.
Operating Costs: Contracted Services - Local Contracted Services - Foreign 30 September 2018 ($) 2017 ($) 8,431,097 4,697,112 8,891,783 (7,068,364) 13,128,209 1,823,419 12,870,209 258,000 1,565,419 258,000 13,128,209 1,823,419 30 September 2018 ($) 2017 ($) 3,934,556 8,684,530 1,560,011 624,899 12,619,086 2,184,910 iGovTT 12,619,086 2,184,910 Operating costs comprise expenses incurred by the company in engaging service providers with respect to the physical infrastructure, software and maintenance services associated with the provision of ICT services to the GORTT for projects such as Government Wide Area Network (GovNeTT), Single Electronic Window (SEW), Portal, Microsoft and others.
19.
Administrative Expenses: iGovTT (Note 20) ttConnect (Note 21) 30 September 2018 ($) 2017 ($) 32,927,830 6,404,854 34,336,982 7,892,117 39,332,684 42,229,099 ANNUAL REPORT 74 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11 NOTES TO THE FINANCIAL STATEMENTS - 30 SEPTEMBER 2018 20.
Administrative Expenses - iGovTT: Advertising Audit fees Bad debt expense Bank charges Board expenses Building maintenance Depreciation Director expenses Donations Electricity Equipment repairs and maintenance Functions (Gain)/loss on disposal of property, plant and equipment Insurance Janitorial Laundry Legal fees Meeting expenses Motor vehicle expenses NIS – Employer’s contributions Office expenses Postage Printing and stationery Professional fees Publications Publicity and promotion Recruitment expense Rental – equipment Rental – property Rental – vehicles Salaries and wages Short-term employment Security Specialised ICT equipment Staff and organisational development Software licences Subscriptions Telephone Training Travel and accommodation – Local Travel and accommodation – Foreign Transportation and storage Utilities Workshops and seminars 30 September 2018 ($) 2017 ($) 21,061 210,000 (874,234) 14,058 59,595 2,467,500 1,666,621 561,000 - 245,567 44,866 - (63,449) 127,910 458,513 - 241,402 8,872 30,754 1,129,206 136,717 1,439 47,597 1,480,189 41,439 16,415 171,808 112,446 780,000 - 22,063,996 112,623 421,682 37,824 62,636 192,955 10,427 543,999 84,282 5,231 9,021 136,329 12,933 96,600 49,526 212,450 (48,488) 11,529 62,526 302,377 1,719,891 473,446 (1,000) 327,935 17,871 (534) 3,716 143,315 466,168 4,896 197,557 5,964 38,777 1,317,608 176,589 6,220 46,096 875,372 34,149 (7,950) 180,893 192,311 845,000 18,330 24,779,726 36,523 832,472 9,875 65,574 374,871 11,937 529,340 (143,850) (465) 20,051 129,422 18,966
 - 32,927,830 34,336,982 75 ANNUAL REPORT NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11 2017-2018 F I N A N C I A L S T A T E M E N T S NOTES TO THE FINANCIAL STATEMENTS - 30 SEPTEMBER 2018 21.
Administrative Expenses - ttConnect: Building maintenance Electricity Equipment repairs and maintenance Insurance Janitorial Meeting expenses Motor vehicle expenses NIS – Employer’s contributions Office expenses Postage Printing and stationery Professional fees Publications Publicity and promotion Rental – equipment Rental – property Salaries and wages Security Staff and organisational development Software licences Telephone Training Travel and accommodation – Local Transportation and storage 30 September 2018 ($) 2017 ($) 96,467 123,388 2,030 25,937 303,024 (1,045) 23,326 282,796 71,148 225 72,821 (600) - 30,934 112,294 916,229 3,706,520 524,853 - 58,102 51,501 - 4,904 - 44,678 117,949 9,513 27,874 311,783 2,225 (6,168) 308,892 122,447 26,320 18,836 - (972) (18,000) 97,892 1,048,630 4,436,999 1,165,385 6,589 31,085 140,850 390 (1,440) 360 6,404,854 7,892,117 ANNUAL REPORT 76 NATIONAL INFORMATION AND COMMUNICATION TECHNOLOGY COMPANY LIMITED - iGovTT 2017-2018 ANNUAL REPORT INSIDE PAGES SIZE: 8.5”W x 11 NOTES TO THE FINANCIAL STATEMENTS - 30 SEPTEMBER 2018 22.
Taxation: Business Levy Green Fund Levy Deferred taxation Adjustment for prior year tax payable 30 September 2018 ($) 2017 ($) (912) (456) (57,129) 1,923,032 (245,837) (110,480) 295,749 - 1,864,535 (60,568) Net loss before taxation (9,825,753) (2,361,065) Theoretical tax calculated at 30% Expenses not deductible for tax purposes Business Levy Green Fund Levy Change in Corporation tax rate from 25% to 30% Tax losses impaired Adjustment to deferred tax Other 2,947,726 14,728 (912) (456) (180,205) (2,839,378) - 1,923,032 - - (245,837) (110,480) - - 295,749 - 1,864,535 (60,568) 23.
Contingencies: Contingent liabilities: Details and estimates of maximum amounts of contingent liabilities are as follows: a) Gratuities are payable to eligible employees pursuant to fulfilment of the following two criteria: i) ii) The employee must be in the employed with the company to the end of employment contract; and The employee’s performance assessments during the contract period must have been deemed satisfactory.
At the close of the financial year, the estimated gratuity payable equates to $4,196,389 for its existing staff complement of 109 staff members.
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Contingencies (Cont’d): b) Legal Claims - • • • A former employee who was assigned to the Corporate Communication Unit, contract was terminated on the grounds of negligently dealing with company funds submitted a claim on 24 May 2016.

The company submitted witness statements to the Industrial Court on 21 June 2018.

The matter was adjourned to 29 March 2019.


Legal advice obtained indicates that it is unlikely any significant liability will arise and the company is not mindful to settle given the nature of the termination.

A former employee who was assigned to the Operations Unit, whose contract of employment was not renewed, submitted a claim on 15 September 2017.

A conciliation meeting was held on 4 October 2017, which was unsuccessful.

The matter remained unresolved and is to be referred to the Industrial Court.
Nineteen (19) ttConnect employees submitted a claim on 15 March 2018 on the ground of outstanding gratuity, vacations and sick leave during the period in which the Unit was not assigned to the company.

The company attended a conciliation meeting on 26 March 2018, which was unresolved and an extension of time for conclusion of the matter was granted to 30 April 2018.

The company has since retained legal counsel in this matter.
The company awaits the extended date for the conciliation meeting from the Ministry of Labour and Small Enterprise Development (MOLSED).

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