Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1697795921811.pdf (Guyana)
REPORT OF THE DIRECTORS OF THE nFPFNiri Wm" PcNclinN ii iii FOR 1":9- fT yEAR Z012 REPORT OF THE DIRECTORS OF THE DEPENDANTS' PENSION FUND FOR THE YEAR 2012 In accordance with Section 16 of the Dependants' Pension Fund Act, Chapter 27:08 the Directors of the Dependants' Pension Fund have the honour to report on the management and operations of the Fund for the year 2012.
BOARD OF DIRECTORS By virtue of Section 11(1) of the Act, the Accountant General is ex-officio a Director and Chairman of the Board of Directors of the Fund.
The other members were appointed from the following:- (a) Two persons, who, in the Minister's opinion, are qualified for appointment by reason of their experience of and shown capacity in matters relating to the functions of the Board of Directors; (b) Three persons, who, in the Minister's opinion, respectively represent the following trade unions:- (i) (ii) (iii) the Guyana Public Service Union the Guyana Teachers Union; and the Guyana Trades Union Congress; and (c) One person, who, in the Minister's opinion, represents the Police Association.
The persons who functioned during the year were:- (a) Colonel Jawahar Persaud- Chairman (b) Mr. Patrick.

Yarde- Director (c) Mr. Lance.

Baptiste- Director (d) Mr. Omar Shariff- Director (e) Ms. Amanda Hermonstine- Director (g) Ms. Lillawattie Dass Director-Secretary/Manager 1 CURRENT CONTRIBUTORS 3.

The number of contributors at the end of 2011 was 50,449 (fifty thousand, four hundred and ninety-nine).
During the year, 1,725 (one thousand seven hundred and twenty-five) now contributors were admitted, 2 (two) died and 158 (one hundred and fifty-eight) ceased to contribute for various reasons and retain no interest and 269 (two hundred and sixty-nine) ceased to contribute and retain an interest in the Fund.

The number of contributors at the end of 2012 was 51,745 (fifty-one thousand, seven hundred and forty-five).

FORMER CONTRIBUTORS WITH INTEREST 4.


32 (thirty two) of the former contributors who had ceased to contribute and retained an interest in the Fund died and 269 (two hundred and sixty-nine) were added making a total of 8,057 (eight thousand and fifty-seven) at the end of the year.

REJECTED OFFICERS 5.

There were no new Rejected Officers during the year.
The number of accounts on the Register of Rejected Officers was 21(twenty-one) at the end of the year, all of whom ceased contributing, but retained an interest.

PENSIONERS 6.
PENSIONERS 6.

32 (thirty-two) pensioners were added to the Register of Pensioners while 21 (twenty-one) were taken off due to death or expiration of pensions during the year, thereby realising a total of 2,202 (two thousand two hundred and two) pensioners on the register of the Fund at the end of 2012 as compared with 2,191 (two thousand, one hundred and ninety-one) for 2011.

2 SUMMARY TABLES OF CONTRIBUTORS REJECTED OFFICERS AND PENSIONERS 7.
riereun,:ec :s comparative table of current and former contributors.

contributors without interest, rejected officers and pensioners at 31' December, 2012 and at the end of the tour previous years.
2008 2009 2010 2011 2012 Contributors contributing 46,897 48,747 49,418 50,449 51,745 Contributors with retained interest 7,188 7,418 7,592 7,820 8,057 Contributors who ceased during the year and retained no interest Rejected Officers with retained interest 94 141 162 119 158 21 21 21 21 21 Pensioners 2.104 2,135 2,178 2,191 101 INCOME AND EXPENDITURE 8.

9.
9.

The total income reflected in the accounts of the Fund during the year amounted to $15096 i .389.00 or $51,197,19).00 more titan in the preceding year.

Expenses and other charges amounted to $74,555,025.00.

The surplus of income over expenditure was $85,496,364.00 as compared with $32,005,720.00 in 2011, an increase of $53,400,644.00.

A sum of $27,675,007.00 was receivable from Government in respect of interest on the monthly balances held on deposit by the Accountant General on behalf of the Fund.
The interest rate was 5.25-5.50% throughout the year.

Interest on Mortgages was $1 1,902.309.00 Contributions from members increased by $1,582,889.00 against the 2011 figure to $23,950,601.00 for the year.

Government's 1% contributions in respect of the disciplinary services as required by Section 20 (c) of the Act was $46,715,083.00 as compared to :;47,0)8,195.00 ;n 3 11.
Refund of contributions amounted to $987,082.00 mainly in respect of bachelor/spinster contributors who resigned their appointments, died or were transferred from the Public Service and those not liable to contribute.

The amounts refunded in 2011 were $798,160.00.

12.

Pensions paid and payable were $17,013,932.00 at the end of 2012 as compared with $18,516,467.00 at the end of 2011.

The other charges against revenue are shown on the table hereunder.

13.
Summary tables of income and expenditure for year 2012 as compared with the ibur previous years are shown hereunder:- INCOME 2008 2009 RESTATED RESTATED RESTATED 2010 OPERATING REVENUE 2011 REST &TED RESTATED 2012 ---, Contributions 47,990,926 71,594,582 65,358,157 I 69,465.907 70,665,684 Interest on Mortgages 23,113,431 20,205,087 17,234,927 14,369,340 11,902,309 Total 71,104,357 91,799,669 82,593,084 I 83,835,247 82,567,993 OTHER REVENUE Interest on Loan 52,500 21,000 Interest on Investment 49,920,000 - 17,329,371 - 48,617,1 89 Government Interest 41,748,582 46,591,215 46,068,987 23,796,445 27,675,007 Rent Total - - 720,000 1,080,000 1,080,000 91,668,582 46,591,215 64,118,358 24,928,945 77,393,396 4 EXPENDITURE 2008 2009 2010 2011 2012 RESTATED RESTATED R.ESTATED RESTATED RESTATED TING EXPENDITURE Dis , osal of Assets - - - 586,208 - Administration & General Expenses ,.. Other Operating Expenses 38,907,036 40,550,485 42,019,081 43,414,443 45,062,331 8,881,664 9,865,743 8,859,741 10,530,770 8,779,181 Depreciation 2,920,876 3,238,171 3,096,442 2,912,424 .., 1 71"?
499 ...., Pension Refund of Contributions 12- ‘" 14.

 1.5, 15,350.135 17.248,032 18 128,661 18,516,467 17,013,932 854,005 624,908 718,911 798,160 1 987,082 66,913,716 71,527,339 72,822,836 76,758.472 74,555,025 The aggregate administration and general expenses along with other operating expenses showed a decrease over the figures of 2011.

The isrvestments held on behalf of the Fund amounted to $45,125,477.00 at the end of the year.
The value of the Securities of the Guyana Government and other Investments including Mortgages totalled $519,477,104.00 representing 35.66 % of the total assets of the Fund.

In addition the Accountant General held a net sum of $687,014,179.00 at the end of 2012 on behalf of the Fund.

5 MORTGAGES 16.

 No Mortgage Loans were approved during the year.

The following is a table of applications received and Mortgages executed for the four previous years.
YEARS APPLICATIONS RECEIVED 2008 2009 2010 2011 2012 2 3 0 0 0 MORTGAGES EXECUTED 2 1 0 0 0 VALUE OF MORTGAGES EXECUTED $ 3,119,600.00 $ 967,339.00 0 0 0 The amount outstanding (including interest) as at 31.12.2012 was $150,021,676.00 The rate of interest remained at 10% for all amounts borrowed.

The lending limit remained at $1,500,000.00 per applicant.

17.

 A table of the Assets of the Fund at 31't December, 2012 as compared with those of the four previous years is shown hereunder.
ASSETS 2008 2009 ASSETS 2010 2011 RESTATED RESTATED RESTATED 2012 Non Current Assets 97,571,749 94,057,372 92,013,344 88,942j343 86,770,271 INVESTMENTS Other Investments CURRENT ASSETS Inventory Receivables & Prepayments Due from Accountant General Cash at Bank 597,692,713 570,632,972 543,137,064 522,654,853 519,477,104 679,661 693,915 550,449 384,832 335.16 83,725,339 100,431,015 129,388,687 138,901.395 158,2.47,149 497,450,027 585,339,729 666,376,317 627,542,544 687,014,179 ............__.
7,146,077 3,196,706 4,205,333 3,827,903 4,813,443 Total 1,284,265,566 1,354,351,409 1,435,671,194 1,382,254,370 1,456,657,430 R. (a) DEI3TORS The balances reflected under this account were due mainly to officers leaving their employment for various reasons and the relevant information was not received by the Fund on time so that the necessary adjustments can be effected.
(b) CREDITORS The balance under this account were due to inadequate and in most cases no information being received from various Ministries/Departments / Regions in respect of new contributors as set out in circulars sent by Secretary to the Treasury and Accountant General respectively.

As a result.
As a result.

deductions were made from persons not liable to contribute and in cases where persons were liable, the necessary information for the purpose of registering officers as contributors was not submitted on a timely basis to facilitate allocation of contributions.

COST OF LIVING ALLOWANCE 19.

The amount paid during 2012 in respect of Cost of Living Allowances to pensioners of the Fund was $825.00.

STAFF 20.
STAFF 20.

The Board of Directors wishes to express their appreciation for the dedication and diligence of the management and staff in the performance of their duties during the year.

The follow;ng statements for 2Q12 are attached:- A.

B. C. D. F. F. The Report of the Auditor General and the Audit Certificate.

Statement of Comprehensive Income as at 31" December, 2012.

Statement of Financial Position as at 31' December, 2012.

Rejected Officers' Account as at 31' December, 2012.
Schedule of Investments as at 31" December, 2012.

Schedule of Interest payable by Government on monthly balances L. Duns Secretary/Manager Dependants' Pension Fund F Colonel J.Persaud, ACCA Chairman Dependants' Pension Fund 7 1())/fice (-)jel yetika 46.10".

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• //e(ww, we/elW.,- 132/2013 31 October2013 REPORT OF THE AUDITOR GENERAL ON THE FINANCIAL STATEMENTS OF THE DEPENDANTS' PENSION FUND FOR THE YEAR ENDED 31 DECEMBER 2012 I have audited the accompanying financial statements of Dependants' Pension Fund (DPF), which comprise the statement of financial position as at 31 December 2012, the statement of comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information.
The audit was conducted in accordance with the Audit Act 2004.

Management's responsibility for the financial statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with the International Financial Reporting Standards 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.
Auditor's responsibility My responsibility is to express an opinion on these financial statements based on my audit.

I conducted my audit in accordance with International Standards on Auditing issued by the International Federation of Accountants (IFAC) and those of the International Organization of Supreme Audit Institutions (INTOSAI).
Those standards require that I comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements.

The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements 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 entity's internal control.
An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

8 I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit opinion.
Opinion In my opinion, the financial statements give a true and fair view, in all material respects of the fmancial position of Dependants' Pension Fund as at 31 December, 2012, and of its financial performance and cash flows for the year then ended in accordance with International Financial Reporting Standards.

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 1°‘ • Gy.fs, R !ARM-A Iii:JNIMitig0.
A I AUDIT OFFICE 63 HIGH STREET KINGSTON GEORGETOWN GUYANA 9 DEPENDANTS' PENSION FUND STATEMENT OF FINANCIAL POSITION AS AT 31 ST DECEMBER, 2012 2011 S ASSETS NOTE $ 2012 $ 3 4 5 8 335,281 158,247,149 687,014,179 4,813,443 NON CURRENT ASSETS 88,942,843 Property, Plant and Machinery 522,654,853 Investments 611,597,696 Total non current asset CURRENT ASSETS 384,832 Inventory 138,901,395 Receivables and Prepayments 627,542,544 Due from Accountant General 3,827,903 Cash at Bank 1,382,254,370 EQUITY AND LIABILITIES EQUITY 1,260,967,243 Accumulated Fund Balance 3,444,434 Reserve 1,264,411,677 Liabilities 86,770,274 519,477,104 606,247,378 850,410,052 1,456,657,430 1,329,427,854 4,429,974 1,333,857,828 111 849,558 CREDITORS:Amount tatting due 7 116,806,467 within 1 year CREDITORS:Amount falling due after 1 year 5,088,641 Unregistered Contributors 904,494 Due to Expatriate officers 8 9 5,088,641 904,494 1,382,254,370 122,799,602 1,456,657,420 These Financial Statements were approved for issuance on behalf of the Board of Directors on 2013-10-30 L. Dass Secretary/Manager Dependents' Pension Fund Persaud, ACCA Chairman Dependants' Pension Fund 10 2012 $ 70,665,684 11,902,309 82,567,993 21,000 48,617,389 27,675,007 1,080,000 159,961,389 13 17,013,932 987,082 (74,555,025) 85,406,364 DEPENDANTS' PENSION FUND STATEMENT CF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31ST DECEMBER, 2012 2011 OPERATING REVENUE NOTE 69,465.907 14,369,340 83,835,247 52,500 0 23,796,445 1,080,000 108,764.192 586,208 43,414,443 10,530, (70 2,912 424 18,516,467 798,160 (76,758,472) 32,005,720 Contributions
 Interest on Mortgages 10 OTHER REVENUE Interest on Loan-Staff Interest on Investments-Clico/Crown Agents Government Interest Rental of Property OPERATING EXPENDITURE/OTHER EXPENSE Disposal of Assets Admin.
and General Expenses Other Operating Expenses 11 12 0 45,062,331 8,779,181 2,712,499 Depreciation Pensions Refund of Contributions Surplus for the year 11 DEPENDANTS' PENSION FUN!)

STATEMENT OF CASH FLOW FOR THE YEAR ENDED 31ST OECI:MBER.
2012 2011 Rest?.ted Cash flows from operating activities 32,005,720 Profit from operations (90,426,457) (58,420,737) 32,237 (58,388,500) Less: Government Interest /Contributions Receivable (Adjustment) Add: Government Interest/Contributions Receivable (Adjustment) Add: Accountant General (Adjustment) Add: Audit Fees Payable (Adjustment) Less: Interest Receivable Clic.° (Adjustment) 9,919.424 Depreciation charge 586,208 Loss on Disposal of Assets (54,889,868) 165,617 5,349,106 (9,512.708) (3,99,,985) (58,887,853) Decrease in Inventory Increase in Payables Increase in Receivables/ Prepayments 49,551 4,956,909 (19,345,754) 20.432,211 Decrease in Mortgage 21.795.13 (38,405,642) Net cash from operating activities Cash flow from investing activities 38,833,773 Increase in Due from Accountant General (428,131) Acquisition of Fixed Assets Return on Investment-Clico (59,471,635) (539,930) 25,590,049 0 0 38,405,642 (377,430) (377,430) 4,205,333 Appreciation and Interest on Investment-Crown Agents (44,207,438) Cash flow from financing activities (Decrease)/Increase in reserve (Decrease)/Increase in cash and cash equivalent Cash and cash equivalent as at 01.01.2012 3,827,903 Cash and cash equivalent as at 31.12.2012 12 2012 85,406,364 85,406,364 a 5,406,364 39.375 c.;:5.,1,15,739 344.243 85,78:3.982 17.329.371 0 71.173,110 (14,339,294) 56,833.816 21,795,138 78.628,954 (78,628.954) 985,540 985,540 3,827,903 4,g13,443 DEPENDANTS' PENSION FUND STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 315T DECEMBER 2012 Year 2011 2012 Retained Earnings at the Adjustments Surplus Reserve Accumulated Fund beginning of the year $ ',228,961,523 $ 0 $ $ Balance $ 32,005,720 3,444,434 1,264,411,677 ,260,967,243 (16,945,753) 85,406,364
 4,429,974 1,333,857,828 13 DEPENDANTS' PENSION FUND NOTES TO THE ACCOUNTS 1 BACKGROUND INFORMATION The Fund was first established by Ordinance No.14 of 1923 as Chapter 207 of the Laws of British Guiana.
Chapter 27:08 now governs the Dependants Pension Fund.

The objective of the Fund is to provide for pensions payable to Widowers/Widows and children of Public Officers who were contributors to the Fund.

Other benefits include the grant of mortgages to Contributors to enable them to acquire a home or to renovate existing homes.

2 PRINCIPAL ACCOUNTING POLICIES (A) Accounting Convention The Financial statements have been prepared in accordance with and comply with international Financial Reporting Standards.
The Financial Statements have been prepared under the historical cost convention.

(B) The main sources of income are Contributions and interest cn Investments including Mortgages as shown below: (1) (II) (iii) Only actual contributions received from members are accounted for due to the fact that contributors accounts are not updated.

1% Government Contributions are recognised on the accrual basis of accounting.

Interest on Mortgages accrue from the date of advance.
Government's interest is calculated at the prevailing overdraft bank rate and interest on investment is calculated on the number of days it is held.

(C) Fixed Assets and Depreciation.


Fixed Assets are depreciated on the reducing balance method on balenees at December of each year, and proportionately for assets acquired in the current year Fixed Assets Building Furniture, Fittings Equipment Vehicle Rate 5% 5% 10% 10% (D) Stock Values Stocks are valued at the lower of cost and net realisable valurJ.

14 (E) Key Management Personnels, Chairman and Directors Remunerations Colonel ,law.

char Persaud.
char Persaud.

ACCA Mrs. Lillawattie Dass Mr Lanceiot Baptiste Mr.Omar Shariff Mr.Roy Hughes Mr.Patrick Yarde Ms.Amanda Hermonstine Ms.1-tilary Walcott 2012 132,000 102,000 102,000 '02,000 76,500 02,000 102,000 28,138 Managernenl Personnels (3 personnels) 11.357,844 3 PROPERTY.
PL ANT AND MACHINERY OFFICE FURNITURE LAND BUILDING MACHINES & FITTINGS VEHICLE TOTAL Net Book Value I 1 2012 45,000,000 33,216,721 4,678,117 1,028,839 5,019,166 Additions 0 20,500 467,103 52,327 0 88,942,843 539,930 45,000,000 33,237,221 5,145,220 1,081,166 5,019,166 89,482,773 Depreciation Charges for year 1,661,861 494,809 53,912 501,917 2,712,499 Net Book Value 31.12.2012 2011 $ 349,920,000 618.039 300,000 171,816,814 522,654,853 45,000,000 31,575,360 4.650,411 1,027,254 4,517,249 86,770,274 4 iNVESTivIENTS Colonial Life Insurance Company Crown Agents Guyana Government Bonds Mortgages 2012 $ 324,329,951 44 525,477 300,000 150,021,676 519,477,104 On the 10th September, 2010 the Court ordered that Clico be liquidated.
However, payment of $30,000,000.00 has been received.

Crown Agents Account was reviewed with a view to ascertain its real/current value with appreciation and interest on investment.
15 2011 5 RECEIVABLES AND PREPAYMENTS $-,, 17,329,371 102,541,035 17,901,215 Interest Receivable (Clico) Contributions Receivable Interest Receivable (Mortgages) 0 Insurance Premium (Mortgages) 1,129,774 0 138,901,395 780,410,281 162,170,748 11,515 942,592,544 315,050,000 627,542,544 65,681,661 371,535 409,031 0 45,387,331 111,849,558 Miscellaneous Insurance Charge from G.C.I.S 6 DUE FROM ACCOUNTANT GENERAL Cash at Accountant General Interest Receivable from Accountant General Vouchers Less: Advance for Imprest 7 CREDITORS Insurance Charges Rejected Officers Audit Fees Payable Mortgage Insurance Pensions Payable 8.
UNREGISTERED CONTRIBUTORS - $5,088,641 This figure represents contributions received from officers not registered with the Fund.

Upon registration the relevant amounts would be transferred to revenue.

9.

DUE TO EXPATRIATE OFFICERS - $904,494 This amount relates to a prior year adjustment pertaining to an agreement between the Government of Guyana and the British Government that the liability for the payment of benefits to expatriate officers should be taken over by the British Government.
The liability in respect of the widows of those expatriates who contributed to the Fund has boen established at $904,494 by the Actuaries, Bacon Woodrow and DeSouza of Trinidad and Tobago.

Settlement is on a Government to Government basis.
22,367,712 47,098,195 69.465,907 10 CONTRIBUTIONS Contributions from Members 1% Government Contributions 16 2012 0 138.088,084 19,1115,052 0 1.044,013 0 156,247 149 841.8-4,075 160,247,789 11,515 1,002.064,17:4 o t 687,014,179 68,343,352 371,535 0 0 48,091,580 116,806,467 23,950,601 46,715 083 70,665,684 2011 $ 0 607,306 36,546,308 8,200 6,252,629 43,414,443 1,693,392 7,329,273 1,263;224 244,881 10,530,770 11,636.713 6,879,754 18.516,467 1,228,961,523 32,005,720 1.260.967.243 3,444,434 1,264,411,677 11 ADMINISTRATION AND GENERAL EXPENSES Audit Fees Directors Fees Salaries and Wages Valuation and Inspection Fees Miscellaneous 12 OTHER OPERATING EXPENSES Electricity Miscellaneous Stationery Travelling 13 PENSIONS Pensions Pensions (Staff Superannuation Benefits) 14 Open Accumulated Fund Balance 01.01.2012 Surplus Reserve 2012 $ 253,286 746,638 37,486,508 600 6,575,299 45,062,331 1,532,946 5,965,937 1,054,298 226,000 8,779,181 12,413,300 4,600,632 17,013,932 1,244,021,490 85,406,364 1,329,427,854 4,429,974 1,333,857,828 17 DEPENDANTS' PENSION FUND REJECTED OFFICERS ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER, 2012 Balance as at 1.1.2011 Add: Interest Less: Bank Charges Balance as at 31.12.2012 $373,444.00 00.00 $ $373,444.00 _ 00.00 $ $373,444.00 18 DEPENDANTS' PENSION FUND INTEREST PAYABLE BY THE GOVERNMENT ON MONTHLY BALANCES HELD AT THE ACCOUNTANT GENERAL'S DEPARTMENT FOR THE PERIOD ENDING 31ST DECEMBER 2012 MCNTI4r.
PARTICULARS MONTHLY MONTHLY QUARTERLY BALANCES INTEREST INTEREST January Balances as at 2011-12-31 780.410,281 Add Interest Receivable Accountant General Less Reserve t tor January.
2012 A R.O 5 50:•0 on balance as at 31 12.2011 0 780,410,281 315 000.000 465.410.281 February Receipts for January, 2012 47,141.185 Add balance as at 31.12.2011 465,410,281 512,551,466 Less Payments for January, 2012 5.007,232 507,544,234 Interest for February, 2012 A.R.O 5 50% on balance as at 31.01.2012 Mach Pe..:,,N2 for February 2012 4.060.883 AJi oalarce at 31.1.2012 507,544.234 511,605,117 Less payments for February,2012 8,728.970 502.876,147 2.168.100 2,211,839 Interest for March.
2012 A.R.O 5 50% on balance as at 28.2.2012 April Receipts for March, 2012 Add bc.!

;n7f, F)t 28.2.2012 Add Interest for Quarter ended 31.3.2012 Less Payments for March, 2012 Interest for April, 2012 A.R.O 5.50% on balance as at 31.3.2012 2,342,633 6,722,572 4,917,871 502,876.147 6,722,572 514,516,590 5,799,704 508,716 886 May Re.ccJpts for April.
2012 4,347.152 Add balance as at 31.3.2012 508,716,886 513,064.038 Less Plyments for April, 2012 5,263,244 507,800.794 Inte,ei.

; for May, 2012 A R.O 5.50% on balance as at 30.4.2012 2,293,39(.

2,365,575 June Receipts for May, 2012 7,813,307 Add 17,11ance as at 30.4.2012 507.800.794 515.1314.1Ui Less Payments for May.
2012 intereiil for June, 2012 A.R rl 5 50% car oatance as at 31.5.2012 5,671,620 509,942,481 4298,92 i 6,957.892 19 MONTHS PARTICULARS July Receipts for June, 2012 Add balance as at 31.5.2012 Add Interest for Quarter ended 30.6.2012 Less Payments for June, 2012 Interest for July, 2012 A.R.0.5.25% on balance as at 30.6,2012 August Receipts for July, 2012 Add balance as at 301, 2012 Less Payments for July, 2012 Interest for August 2012 A.R.0.5.25% on balance as at 31.7.2012 2.J12 Add baiance as at 31.7.2012 Less Payments for August, 2012 Interest for September, 2012 A.R.O.5.25% on balance as at 31.8.2012 MONTHLY MONTHLY QUARTERLY BAl ANCES INTEREST INTEREST 6,391,466 509,942,481 6,957,892 523,291,839 5,628,847 517,662,992 3,909,562 517,662,992 521,572,554 5,731,406 515,841.148 2,301,903 /../,33,802 521,055,619 5,952,518 515,103,101 2.216,632 6.812.337 October Receipts for September, 2012 Add balance as at 31.8.2012 Add Interest for Quarter ended 30.9.2012 4,537,818 515,103,101 6,812,337 526,453,256 Less Payments for September 2012 5,351,964 521,101,292 Interest for October, 2012 A.R.0.5.25% on balance as at 30.9.2012 November Receipts for October, 2012 5,737,318 Add balance as at 30.9.2012 Less Payments for October, 2012 Interest for November, 2012 A.R.O.5.25% on balance as at 31.10.2012 521,101,292 526.838,610 5,733,552 521,105,052 December Receipts for November, 2012 74,748.714 Add balance as at 31.10.2012 521,105,052 595,853,766 Less Payments for November 2012 6,081,188 589,772,578 Interest for December, 2012 A.R.0.5.25"/".
on balance 2,317.192 2,242.46`2 2,622.554 7 182,200 `,75,007 27,675.,J07 20 DEPENDANTS' PENSION FUND INVESTMENTS HELD BY CROWN AGENTS AND LOCALLY AS AT 31ST DECEMBER, 2012 FOLIO INVESTMENTS PER CENTUM FACE VALUE LEDGER VALUE COST 8 British Guiana Demerara Railway Perpetuals 9 British Guiana Demerara Railway Penn Annuities 67 Joint Miscellaneous Fund Sub-total 4 nil Per 3,008.27 94,136.10 976,948.00 30,571,075.00 23 6 40,885.96 13,277,454.00 138,030.33 44,825.477.00 20 British Guiana Government Bonds 1973/88 51/2 300,000.00 300,000.00 438,030.33 45,125,477.00 9,561.72 73,300.51 40,885.96 123.748.19 300,000.00 423,748.19 21