Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1697795911671.pdf (Guyana)
REPORT OF THE DIRECTORS OF THE DEPENDANTS' PENSION FUND FOR THE YEAR 2.010 REPORT OF THE DIRECTORS OF THE DEPENDANTS' PEN 510 N FUND FOR THE YEAR 2.410 REPORT OF °MEC FORS OF THE DEPENDANTS' PENSION FUND FOR THE YEAR 2010 1.

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 2010.

BOARD OF DIRECTORS 2.


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) Dr. N. K. Gopaul-Director (b) Mr. P. Yarde-Director (c) Mr. L. Baptiste-Director (d) Mr. R. Hughes, A.A.-Director Mr. K. Parris-Director (I) Mrs. Lillawattie T)ass — Secretary/Manager 3.

The number of contributors at the end of 2009 was 49,275 (forty-nine thousand, two hundred and seventy-live).
During the year, 1,059 (one thousand and fifty-nine) new contributors were admitted, and 162 (one hundred and sixty-two) ceased to contribute lbr various reasons and retained no interest and 226 (two hundred and twenty-six) ceased to contribute and retained an interest in the Fund.

The number of Contributors at the end of 2010 was 50,398 (fifty thousand., three hundred and ninety eight).
FORMER CONTRIBUTORS WITH INTEREST 52 (fifty-two) of the former contributors who had ceased to contribute and retained interest in the Fund died and 226 (two hundred and twenty-six) were added making a to al of 7,592 (seven thousand five hundred and ninety-two) at the end of the year.

REJECTED OFFICERS 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.

 53(fifly-three) pensioners were added to the Register of Pensioners while 10(ten) were taken off due to death or expiration of pensions during the year, thereby realising a total of 2,178(two thousand one hundred and seventy-eight) pensioners on the Register of the Fund at the end of 2010 as compared with 2,135 (two thousand, one hundred and thirty- five) for 2009.

2 UNINIARY TABLES OF CONTIZi17./..;7.91ZS REJECTED OFFICERS AND PENSIONERS 7.
Hereunder is a comparative table of current and former contributors, contributors without interest rejected officers and pensioners at 31si December 2010 and at the end of the four previous years.
2006 2007 2008 2009 2010 Contributors contributing 45,296 45,748 46,897 49,275 50,398 Contributors with retained interest 6,826 7,006 7,188 7,418 7,592 Contributors who ceased during the year and retained no interes Rejected Officers with retained interest 50 21 113 94 141 162 21 21 21 21 Pensioners 2,050 2,084 2,104 2,135 2,178 INCOME AND EXPENDITURE o.
The total income reflected in the accounts of the Fund during the year amounted to S146,71 i,442.00 or $ 8,320,558.00 more than in the preceding year.

Expenses and other charges amounted to $72,822,836.00 the surplus of income over expenditure was $73,888,606.00 as compared with $66,863,545_00 in 2009, an increase of $7,025,061.00.
filece was no need for a Government's contribution under Section 3(2) of the Act to ensure a return of six percent per annum on the cost price of investments as the rate of return on Investments exceeded six percent.

A sum of $46,068,987.00 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 6.75 - 6.25 % throughout the year.
Interest on Mortgages was $17,234.927.00 ;n Contributions from members increased by $226,103.00 against the 2009 figure to $23)028,404.00 for the year.

Government's 1% contributions in respect of the disciplined services as required by Section 20(c) of the Act was $42329,753,00 as compared to !.48.79::',7F.1 .00 in 2009.

3 • .iniributions amounted to 5718,911.00 mainly in.

restic.

:Tt who resigned their appointments, died or were transferred from the t'ubbc bac1‘.
: tr Service and those not liable to contribute.

The amounts refunded in 2009 were $624,908.00.

12.

Pensions paid and payable were $18,128,661.00 at the end of 2010 as compared with $17,248,032.00 at the end of 2009.

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

13.

Summary Tables of Income and Expenditure for year 2010 as compared with the four previous years are shown hereunder:- INCOME 2006 2007 2008 7009 2010 RESTATED ICESTATEDESTATED =STATED.
RvET..t.7.17k OPERATING REVENUE Contributions 55,524,163 54,641,268 47,990,926 71,594,582 65,358,157 1 interest on Mortgages 32,491,626 29,039,887 23,113,431 20,205,087 17,234,927 L OTHER REVENUE 88,015,789 83,681,155 71,104,357 91,799,669 82,593,084 Interest on Investment - - 49,920,000 - 17,329,371 Government Interest 29,984,723 39,442,536 41,748,582 46,591,215 Rent 1,440,000 720,000 Miscellaneous Income - - - - - - L ._ _ 31,424,723 40,162,536 91,668,582 46,591,215 46,068,98/ 1 720,000 j - 1 146,711,442 j 4 EXPENDITURE 2006 iii RESTATED RESTA'fED ItESTATm RESTATED RESTATED 2409 2041 2010 Administration & General Expenses 35,517,882 40,999,642 38,907,036 40,550,485 42,019,081 Other Operating Expenses 8,071,282 7,511,698 8,881,664 9,865,743 8,859,741 Depreciation Pensions 1,124,011 1,068,306 2,920,876 3,238,171 3,096,442 13,913,344 16,448,670 15,350,135 17,248,032 18,128,661 Refund of Contributions 462,149 1,332,261 854,005 624,908 718,911 59,088,668 67, 160, 577 66,913,716 I 71,527,339 72,822,8.36 14.
15.

The aggregate administration and general expenses along with other operating expenses showed an increase over the figures of 2009.

The Investments held on behalf of the Fund amounted to $918,039.16 at the end of the year.

The Mean Market value was $369,935.75 a sum of $548,103.41 below ledger value.

The value of the Securities of the Guyana Government and Other Investments including Mortgages totalled $543,137,064.00 representing 37.83 % of the total assets of the Fund.
In addition the Accountant General held a net sum of $666,376,317.00 at the end of 2010 on behalf of the Fund.

MORTGAGES 10, 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 MORTGAGES EXECUTED VALUE OF MORTGAGES EXECUTED 2006 2007 2008 2009 2010 2 0 2 3 0 $ 2,474,957.00 $ 1,179,627.00 $ 3,119,600.00 967,339.00 $ 0 2 2 2 1 0 5 uts :c,?
:.,:r-,;:st) as The rate of interest remained a i 0% i;or all amounts borrowed.

Thc lending lirnit at $1,500,000.00 per applicant.

.12.

Ni I 0 \VW; , i 17.

A table of the Assets of the Fund at 31' December, 2010 as compared with (hos,!‘ of the four previous years is shown hereunder.
ASSETS 2006 2008 RESTATED RESTATED RESTATED RESTATED IR ES I' A T 2007 2009 2010 --1 FIXED ASSETS Tangible Assets INVESTMENTS Other Investments CURRENT ASSETS Stock 14,828,859 2 1,875,225 97,571.749 94,057,372 92,013,344 622,187,286 575,180,146 597,692,713 570,632,972 543,137,064 567,871 668,324 679,661 693,915 550449 Debtors & Prepayments 75,135,887 86,464,627 83,725,339 100,431,015 129,388,687 Due from Accountant General 319,801,344 413,092,398 497,450,027 585,339,729 666,376,317 Cash at Bank 5,640.936 2,161,361 7,146,077 3,196,706 4.205,332 1,038,162,183 1,099.442,081 1,284,265,566 1,354,351,409 1 435,671,194 18.
(a) DEBTORS 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.
6 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 2010 in respect of Cost of Living Allowances to pensioners of the Fund was $1,545.00 STAFF 20.
The Board of Directors expresses their appreciation for the commitment and diligence of Management and Staff in the performance of their duties during the year.

21.

The following statements for 2010 are attached:- A.

B. C. D. E. F. Statement of Comprehensive Income as at 31st December, 2010.

Statement of Financial Position as at 31st December, 2010.

The Report of the Auditor General and the Audit Certificate.

Rejected Officers' Account.

Schedule of Investments.


Schedule of Interest payable by Government on monthly balances.

Z.

'13a44- Director-Secretary/Manager Dependants' Pension Fund Per:Fatteb Chairman Dependants' Pension Fund 7 OW- .-"P Mr,..?
Alt)/ , 611 r ,--3'tt iro, r':4/.• 5.9,e , (1;z1 .5.9,t- .11,"- 71S 7 4/1A / lincvew, AG: 80/2011 26 September 201 l REPORT OF THE AUDITOR GENERAL ON THE FINANCIAL STATEMENTS OF THE DEPENDANTS' PENSION FUND FOR THE YEAR ENDED 31 DECEMBER 2010 I have audited the accompanying financial statements of the Dependants' Pension Fund (I)PF) which comprised of the statement of financial position as at 31 December 2010, and We statement of comprehensive income and statement of cash flow for the year then ended, and a summary of significant accounting policies and other explanatory notes.
Management 's responsibility for the financial statements Management is responsible for the preparation and fair presentation of these financial ontements in accordance with the International Financial Reporting Standards.
This responsibility includes: designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.

Auditor 's responsibility My responsibility is to express an opinion on these financial statements based on the audit.
conducted the audit in accordance with International Standards on Auditing issued by the International Federation of Accountants (IFAC) and those of the International Organisation of Supreme Audit Institutions (INTOSAI).

Those standards require that I comply with ethical requirements and plan and perform the audit to obtain reasonable assurance 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 misstatemen: of the financial statements, whether due to fraud and 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 arc 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 the accounting policies used 8 and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit (minion, ()pin ion In my opinion, the financial statements give a true and lair view of the financial position of the Dependants' Pensions Fund as of 31 December 2010, and of its financial performance and its cash flows for the year then ended in accordance with International Financial Reporting Standards.

PP/c-r(, -A-Vr fkitttik ( .41DITOR GEN AI, fag.}


AUDIT OFFICE 6 1ETGI I STREET KINGSTON (TFORGFIOWN IYANA 9 2009 OPERATING REVENUE.
NOTES DECEMBER,2010 71,594,582 20,205,087 91,799,669 0 46,591,215 0 138,390,884 40,550,485 9,865,743 3,238,171 17,248,032 624,908 (71,527,339) 66,863,545 Contributions Interest on Mortgages 3 OTHER REVENUE Interest on Investments Government Interest Rental of Property OPERATING EXPENDITURE Admin.
and General Expenses Other Operating Expenses Depreciation Pensions Refund of Contributions 4 5 13 47.019,081 8,859,74 3,096,442 18,128,661 718,911 STATEMENT OF RETAINED EARNINGS 1,178,603,592 66,863,545 1,245,467,137 2,813.237 1,248,280,374 Balance B/F Add: Surplus for the Year Reserve 10 2010 S 65,358,157 17,234,927.
82,693,084 17,329.71 46,068,987 720,000 145.711,442 (72,822,836) 73,838.50E 1,245,467,137 73,888.606 x,355,7"3 3,821,664 1 ,373 17 7.60 2009 5!
45,000,000 36,618,231 5,261,008 981,632 6,196,501 94,057,372 570.632,972 664,690,344 693,615 100 431.015 585.339,729 3,196,706 1,354.351 409 DEPENDANTS' PENSION FUND STATEMENT OF FINANCIAL POSITION AS AT 31ST DECEMBER, 2010 FIXED ASSETS NOTES 6 7 8 9 Land Building Office Machinery Furniture & Fittings Motor Vehicle Investments CURRENT ASSETS Stock Debtors and Prepayments Due from Accountant General Cash at Bank EQUITY AND LIABILITIES Equity $ 45,000,000 34,787,319 5,566,703 1,082,471 5,576,851 2010 $ 92,013,344 543,137,064 635,150,408 550,449 129,370,687 666,376,317 4,205,333 800,520,786 1,435,671,194 1,245,467 137 2.813,237 .246.280.374 Accumulated Fund Balance Reserve 1,319,355,743 3,821,864 1,323,177,607 Liabilities 100.077,900 Creditors: Amount falling due within one year 10 106,500,452 Creditors: Amount falling due after one year 5,088,641 904,494 1.354,351,409 Unregistered Contributors Due to Expatriate Officers 11 12 5,088,641 904,494 112,493,587 1,435,671,194 I..Dass Director-Secretary/Manager Dependants' Pension Fund J. Persaud Chairman Dependants' Pension Fun( 11 DEPENDANTS' PENSION FUND STATEMENT OF CASHFLOW FOR THE YEAR ENDED 31ST DECEMBER, 2010 2009 $ 66,863,545 Profit from Operations Add Non Cash Items Depreciation 3,238,171 70,101,716 Operating Activities Working Capital Decrease in Stock Increase in Creditors (13,954) 6,575,749 (16,705,676) Increase Debtors/Prepayments 59,957,835 143,166 6,422,552.00 (289,957,672.00) Other Operating Activities Decrease in Mortgages Investing Activities
 Sale of Motor Vehicle Increase in Due from Accountant General Acquisition of Fixed Assets 0 (81,036,588) (1.052,414) 27,059,741 87,017,576 1.450,000 (87,889,702) (577,874) (87,017,576) 0 2010 $ 73,888.606 3,096,442 76,985,048 (22,391 954) 54,593 094 27,495,908 82.089,002 (82,089,002) 0 DEPENDANTS' PENSION FUND STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31ST DECEMBER 2010 At the beginning of the year Adjustments to Equity Surplus Reserve Retained Earnings 2009 $ 1,178,603,592 2010 $ 1,245,467,137 66,863,545 2,813,237 1,248,280,374 73,888,606 3,821,864 1,323,177,607 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 1.3WS 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.
2.

PRINCIPAL ACCOUNTING POLICIES (A) Accounting Convention These accounts have been prepared using the historical cost convention.

(B) The main sources of income are Contributions and Interest on Investments including, Mortgages as shown below: (i) 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.
(ii) Interest on Mortgages accrue from the date of advance.

(iii) 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 balances at December of each year, and proportionately for assets acquired in the current y.ear.

Fixed Assets Building Furniture.


Fittings Equipment Vehicle (0) Stock Values Rate 5% 5% 10% 10% Stocks are valued at the lower of cost and net realisable value.

2009 3 CONTRIBUTIONS 22,802,301 48.792,281 71.594,582 Contributions from Members 1% Government Contributions 14 2010 S 23,018.404 42,329,753 65,358,157 4.

Ail NIINISTRATION AN?)


(..:ENEIZAL EXPENSES 2009 9,155 1,000,000 668,816 32,875,500 (3,500) 6,000,514 40,550,485 Architect Fees Audit Fees Directors Fees Salaries and Wages Valuation and Inspection Fees Miscellaneous 5.

OTHER OPERATING EXPENSES 1.844,440 5.482,857 2,291,151 247,295 9,865,743 Electricity Miscellaneous Stationery Travelling 6.
TANGIBLE FIXED ASSETS LAND BUILDING MACHINES & FITTINGS VEHICLE OFFICE FURNITURE Nei Value 1.1.2010 45,000,000 36,618,231 5,261,008 R99,794 981,632 153,120 6,196,501 0 45,000,000 36,618.231 6,160,302 1,134,752 6,196,501 0 740,000 624,949 34,420,879 4,000 6,229,253 42,019,081 1,812,021 5,411,909 1,379,811 256,000 8,859,741 TOTAL S 94,057,372 1,052,414 95,109,786 Depreciation Chars for year 0 1.830.912 593.599 52,281 619,650 3,096,442 31 12.201(1 45,000,000 34,787,319 5,566,703 1,082,471 5,576,851 92,013,344 7.
OTHER INVESTMENTS 349,920.00r) ft •,e, P 300,03G 219.794 570,632.977 Colonial Life Insurance Company Age.nts Guyana Government Bonds Mortgages 15 $ 349,920,000 618,039 300,000 192,299,025 543.137,064 2009 DERTORS (CL;CO) Gor1tritiu0ons Receivable interest Receivable (Mortgages) Insurance Premium (Mortgages) Miscellaneous Insurance Charge from G.C.I.S Office Machinery & Equipment 9.
DUE FROM ACCOUNTANT GENERAL Cash at Accountant General Interest Receivable from Accountant General Vouchers t,4,72,24 .1 13,865,142 177,166 1,052,599 117,101 646,766 100,431,015 712,377,832 188,000,382 11,515 900,389,729 al 5,050,000 Less: Advance for trnprest 585,339,729 60,756,996 371,535 671,975 38,277,394 100,077,900 10.
CREDITORS Insurance Charges Rejected Officers Audit Fees Payable Pensions Payable 2010 94,44 i ,99i 15,960,48'3 0 1,256,839 0 0 129.388,687 752.345,432, -i19,069 ,369 11.515 li15 050 000 666,376,31 •t 63,480.216 371,535 975.771 41,672,930 106,500,452 11.

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.

12.
12.

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 whose contributions to the Fund has been established at $904,494 by the Actuaries.

Bacon Woodrow and DeSouza of Trinidad and Tobago.


Settlement is on a Government to Government basis.
16 940 1F'7 Pensions 4,30/.845 Pensions (Staff Superannuation Benefits) 248 032 17" 14 Open Accumulated Fund Balance 01-01.-2010 Surplus Reserve 2010 12,772,374 5,356,287 18,128,661 1,245,467,137 73,888,606 1,319,355,743 3,821,864 1,323,177,607 I i iPrii,TENDANTS' PENSION FUND REJECTED OFFICERS ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER, 2010 Balance as at 1.1.2010 Add: Interest Less: Bank Charges Balance as at 31.12.2010 $373,444.00 00.00 $ $373,444.00 00.00 $ $373,444.00 18 iNVESTMENTS HELD lily" CROWN A CENP-, AND LOCALLY AS AT 31S1 DECTAIREP 1701.10 INV F.',,TMENTS PER CENTUM 8 British Guiana Demerara Railway Perpetuals 9 British Guiana Demerara Railway Penn Annuities 67 Joint Miscellaneous Fund Sil li-total 4 nil Per 131,681.66 58,627.47 93,636.09 23 6 519.930.58 4,472.49 4,472.49 30.286.78 35,176.48 4,472.49 194,781.62 618,039.16 69,935.75 20 British Guiana Government Bonds 1973/88 5 1/2 300,000.00 300,000.00 " 300,000.00 494,781.62 918.039.16 369,935.75 19 DEFENDANTS' PENSIC,'N FUND INTEREST PAYABLE BY THE GOVERMADif ON MONTHLY BALANCES HELD AT THE ACCOUNTANT GENERAL'S DEPARTMENT FOR THE YEAR ENDED 31ST DECEMBER 20iii MONTHS PARTICULARS January Balances as at 2009-12-31 712,377,832 MONTHLY MONTHLY QUARTERLY BALANCES INTEREST YAFFE-REST $ Add Interest Receivable Accountant General Less Reserve Interest for January, 2010 A.R.0 6.75% on balance as at 3 i, 12.2009 0 712,377,832 15,000,000 697,377,832 February Receipts for January, 2010 6,391,041 Add balance as at 31.122009 Less Payments for January, 2009 interest for February, 2010 R.0 6.50% on balance as at 31.01.2010 897,377,832 703,768,873 5,459,249 698,309,624 March REcespts for February 2010 Add balance at 31.1.2010 4,553,870 698,309,624 702,863,494 Less payments for February,2010 8,038,929 694,824,565 3,997,98 i 3,481,952 Interest for March, 2010 A.R.O.
6.50% on balance as at 28.2.2010 April Receipts for March, 2010 Add balance as at 29.2.2010 Add Interest for Quarter ended 31.3.2010 Less Payments for March, 2010 Interest for April, 2010 A.R.0.6.50% on balance as at 31.3.2010 3,835,812 11,315,775 7,635,318 694,824,565 11,315,775 713,775,658 5,509,033 708,266,625 May Receipts for April, 2010 7,646,339 Add balance as at 31.3.2010 Less Payments for April, 2010 Interest for May 2010 A.R.0 6.50% on balance as at 30.4.2010 708,266,625 715,912,964 5,221,367 710,691,597 June Receipts kr May, 2010 7,228,213 Add balance as at 30,4.2010 Less Payments for May, 2010 Interest for June, 2010 A, R.0.6.50% on 17,q1.9.PCF, bit ;70.
31.5.2010 710,691,597 717,919.810 5,247,839 712,671,971 70 3,783,890 3,923,407 3.307,<:€ 11,5•14:/23 fl,lt)NTHLY QUARTER:2:' 3A ',ANGUS INTEREST INTERES T 201c nalanc€: al 31 5.2010 (12,671,97; tr !merest for Cloarter 30.6 2010 11,514,723 730,002,727 Payments for June, 2010 5,011,098 724,991,629 !nte.rost for July, 2010 AR.0.6.50% on balance as at 30.6.2010 August Recipts for July, 2010 8,067,040 Add balance as at 30.6.2010 724,991,529 733,058,669 Les Payments for July, 2010 Interest for August 2010 Lolanco as at 31.7.2010 5,469,904 727,588,765 4,002,351 3,862,201 September Receipts for August, 2010 5,408,422 Add balance as at 31 7 2010 727,588,765 732,997,187 Less Payments for August.
2010 lnterc5t for September.
2010 R 0 6 25% on balance as at 31.8.2010 5,768,523 727.228,664 3,735,764 11,600,316 October Receipts for September, 2010 Add balance as at 31.8.2010 Add Interest for Quarter ended 30.92010 5,776,377 727,228,664 11,600,316 744,605,357 Less Payments for September 2010 4,910,001 739,686,356 Interest for October, 2010 AR 0.6.25% on balance as at 30.9.2010 for ::debar, 2010 4,522,872. iv.ie balance as at 30.9.2010 739,686,356 744,216,234 Less Payments for October, 2010 5,153,884 739,062,350 1,110(est tor November, 2010 A P 0.6.25% on balance as 31.10.2010 December Receipts for November, 2010 4,716,512 Add balance as at 31.10.2010 739,062,350 743,778,862 Less Payments for November 2010 6,205,223 737,573,639 Int,,lrest for December, 2010 A.P.0.6.25% on balance as at 30.
11.2010 3,926,417 3,796.553 3,915,203 11,638,173 46,068,987 46,068,987 21