Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698832624572.pdf (Trinidad and Tobago)
OFFICE OF THE AUDITOR GENERAL REPORT OF THE AUDITOR GENERAL ON THE PUBLIC ACCOUNTS OF THE REPUBLIC OF TRINIDAD AND TOBAGO FOR THE FINANCIAL YEAR 2009 (2008 OCTOBER 01 TO 2009 SEPTEMBER 30) 2010 April 29 TABLE OF CONTENTS AUDITOR‟S REPORT………………………………………………….………….………3-6 PAGE/S TREASURY STATEMENTS…………………………………………….……………….7-68 CHAPTER 1.

Accounts of the Treasury………………………………………………………..71-108 2.

Accounts of Accounting Officers……………………………………………...111-131 3.
Accounts of Receivers of Revenue…………………………………………….133-138 4.

Accounts of Administering Officers………………………………………......141-153 5.
Payments out of Public Moneys to Members of Parliament………….……….155-159 APPENDICES…………………………………………………………………………161-186 1 Auditor General’s Report 2009 2 Auditor General’s Report 2009 AUDITOR’S REPORT REPORT OF THE AUDITOR GENERAL OF THE REPUBLIC OF TRINIDAD AND TOBAGO ON THE PUBLIC ACCOUNTS OF TRINIDAD AND TOBAGO FOR THE FINANCIAL YEAR ENDED 2009 SEPTEMBER 30 REPORT ON THE FINANCIAL STATEMENTS Financial Statements of the Public Accounts of Trinidad and Tobago for the financial year ended 2009 September 30 which were received from the Treasury, Accounting Officers, Receivers of Revenue and Administering Officers have been audited.
The Financial Statements received are listed at Appendices 1 to 4.

RESPONSIBILITY OF THE TREASURY, ACCOUNTING OFFICERS, RECEIVERS OF REVENUE AND ADMINISTERING OFFICERS 2.

The Treasury, Accounting Officers, Receivers of Revenue and Administering Officers respectively are responsible for the preparation and fair presentation of these Financial Statements.
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.

AUDITOR’S RESPONSIBILITY 3.


The Auditor General‟s responsibility is to audit and report on these Financial Statements in accordance with section 116 (2) and (4) of the Constitution of the Republic of Trinidad and Tobago and section 25 (1) of the Exchequer and Audit Act, Chapter 69:01.

The examination was conducted in accordance with generally accepted Auditing Standards.
Those Standards require that ethical requirements be complied with and that the audit be planned and performed to obtain reasonable assurance about whether the Financial Statements are free from material misstatement.

It is my view that the audit evidence obtained is sufficient and appropriate to 4. provide a basis for the opinion expressed at paragraph 14 of this Report.

3 Auditor General’s Report 2009 TREASURY STATEMENTS CARICOM PETROLEUM FUND 5.
The CARICOM Petroleum Fund was established in 2006 November to provide relief to CARICOM states in accordance with the criteria agreed between the Heads of Government and the CARICOM Secretariat.

6.

During the financial year, withdrawals from the Fund were $702,673,494.78.

Of these, four amounts totalling $424,892,180.00 did not appear to be in keeping with the purpose for which the Fund was established.

Paragraphs 1.115 to 1.119 of the Report are relevant.

APPROPRIATION ACCOUNTS 7.


Appropriation Accounts for the financial year ended 2009 September 30 were received from eight Accounting Officers after 2010 January 31.

This was contrary to section 24 (1) (b) of the Exchequer and Audit Act, Chapter 69:01.

Details are given at Appendix 2.

8.

The examination of records and documents revealed that in many instances there was non-compliance with the Financial Instructions 1965, Financial Regulations Chapter 69:01 and other financial directives.
Some comments pertinent to the examination of the Appropriation Accounts and 9. the supporting records and documents have been included at Chapter 2 of the Report under the respective Heads of Expenditure.

STATEMENTS OF RECEIPTS AND DISBURSEMENTS 10.

Statements of Receipts and Disbursements in respect of the financial year ended 2009 September 30 were received after 2010 January 31 from nine Receivers of Revenue.

Statements had not been received from six Receivers of Revenue as at 2010 February 26.
The non-submission of Statements of Receipts and Disbursements for the financial year 2009 by 2010 January 31 was contrary to section 24 (1) (c) of the Exchequer and Audit Act, Chapter 69:01.

Details are given at Appendix 3.

Some comments pertinent to the examination of the Statements of Receipts and 11.

Disbursements and the supporting records are given at Chapter 3 of the Report.

4 Auditor General’s Report 2009 ACCOUNTS OF ADMINISTERING OFFICERS 12.
Financial Statements in respect of the financial year ended 2009 September 30 were received from 22 Administering Officers after 2010 January 31.

As at 2010 February 26, Financial Statements were not received from six Administering Officers.

The non-submission of Financial Statements for the financial year 2009 by 2010 January 31 was contrary to section 24 (2) (a) and (b) of the Exchequer and Audit Act, Chapter 69:01.

Details are given at Appendix 4.


Comments arising from the examination of the Accounts of Administering 13.

Officers have been included at Chapter 4 of the Report.

OPINION 14.
OPINION 14.

In my opinion, the Consolidated Statement of Assets and Liabilities, the Statement of Revenue and the Statement of Expenditure present fairly, in all material respects, the assets and liabilities of the Consolidated Fund and other Funds administered by the Treasury at 2009 September 30 and the revenue and expenditure for the financial year ended 2009 September 30 in accordance with the Cash Basis of Accounting.
REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS PAYMENTS OUT OF PUBLIC MONEYS TO MEMBERS OF PARLIAMENT 15.

Section 25 (2) of the Exchequer and Audit Act, Chapter 69:01 requires the Auditor General to set out in his annual report all payments made out of public moneys to a member of each House of Parliament (other than the salary and any allowances and any pension paid to him as specified in that section).

Details of these payments are given at Chapter 5 of the Report.
EMPHASIS OF MATTER EXCHEQUER ACCOUNT – ($10,789,303,391.50) 16.

Without qualifying the above opinion, the following is brought to attention.

The Exchequer Account is the bank account for the Consolidated Fund.

The Exchequer Account was overdrawn by ($10,789,303,391.50) at 2009 September 30.

This represented an increase of $5,105,943,200.31 or 89.84% when compared to the previous year‟s figure of ($5,683,360,191.19).

5 Auditor General’s Report 2009 SUBMISSION OF REPORT 17.
This Report is being submitted to the Speaker of the House of Representatives, the President of the Senate and the Minister of Finance in accordance with the requirements of section 116 (4) of the Constitution of the Republic of Trinidad and Tobago.
2010 April 29 L 6 Auditor General’s Report 2009 TREASURY STATEMENTS The Treasury Statements referenced TS 2 to TS 60 in this document have been reproduced with the permission of the Treasury (A list of the Treasury Statements is given at Appendix I) 7 Auditor General’s Report 2009 8 Auditor General’s Report 2009 TS 1 9 Auditor General’s Report 2009 EXCHEQUER ACCOUNT AS AT 2009 SEPTEMBER 30 TS 2 RECEIPTS AND PAYMENTS FOR THE FINANCIAL YEAR 2009 Treasury Card balance as at 2008 October 01 Add: Receipts into Exchequer Account for 2008 October 01 to 2009 September 30 $ ¢ (5,683,360,191.19) October 2008 November 2008 December 2008 2009 January 2009 February 2009 March 2009 April 2009 May 2009 June 2009 July 2009 August September 2009 $ ¢ 2,523,613,263.55 3,019,650,552.40 1,441,165,464.28 7,910,778,346.06 184,174,775.56 2,818,169,464.06 4,358,075,267.85 2,454,889,789.19 3,076,066,957.29 4,255,664,747.09 1,798,510,599.77 6,382,090,876.09 Less: Payments from Exchequer Account for 2008 October 01 to 2009 September 30 October 2008 November 2008 December 2008 2009 January 2009 February 2009 March 2009 April 2009 May 2009 June 2009 July August 2009 September 2009 $ ¢ 2,233,089,533.34 3,391,125,175.22 3,719,908,135.39 4,502,103,569.60 2,760,362,442.79 3,757,307,141.87 3,152,068,264.34 3,176,841,319.29 2,642,916,987.90 3,586,362,636.14 3,223,576,046.56 9,183,132,051.06 40,222,850,103.19 34,539,489,912.00 45,328,793,303.50 Treasury Card balance as at 2009 September 30 (10,789,303,391.50) 10 Auditor General’s Report 2009 RECONCILIATION STATEMENT OF THE EXCHEQUER BANK ACCOUNT AS AT 2009 SEPTEMBER 30 TS 3 $ c $ c $ c Treasury Cash Card Balance as at 2009 September 30 (10,789,303,391.50) Add: Unpaid Cheques current year Balance as at 2009 September 30 2,202,887,356.14 Less: (i) Amount short posted as paid cheques on 18/06/80 (288.00) (ii) Amount short posted as paid cheques on 30/04/1982 (7,176.74) (7,464.74) Unpaid Cheque Balance as at 2009 September 30 2,202,879,891.40 Add: Unpaid Balances previous years 2007/2008 NIL Add: Unpaid Cheque Balance as at 2009 September 30 2,202,879,891.40 2,202,879,891.40 Add: Outstanding Credits (Appendix A) Short Charges (Appendix B) 0.60 1.68 Debit Adjustment to be made by Central Bank (App.
G) 3,038,788,269.11 Less: Overcharges (Appendix C) (594.29) Credit Adjustment to be made by Central Bank (App.

H) (5,615,739,173.03) Outstanding Debits (Appendix D) Overposting by Central Bank (Appendix E) Short posting by Treasury (Appendix F) (0.02) (10.00) (0.09) (8,586,423,500.10) 3,038,788,271.39 (5,547,635,228.71) (5,615,739,777.43) (11,163,375,006.14) Less The Cheque No.

P00161622 dated 20.08.09 for $2,247.56 was incorrectly abstracted as $2,257.56 on 2009 August 25.
The amount of $10.00 was overstated.

(Error Book Adjustment) (10.00) (10.00) Less: To adjust an amount which was incorrectly cleared on 15.09.09.

(Client No.

33150440 refers.)
(17,981,693.86) (11,163,375,016.14) (17,981,693.86) (11,181,356,710.00) Less: The Cheques listed hereunder was incorrectly cleared under Paymaster A/C instead of Unemployment Relief Fund A/C AU Cheque No Date Cleared Amount 60/43 P00739860 20.10.08 2,942.50 60/43 P00739864 20.10.08 390.02 60/43 P00739865 20.10.08 66.00 60/43 P00739867 22.10.08 649.99 (4,048.51) (4,048.51) (11,181,360,758.51) 11 Auditor General’s Report 2009 TS 4 12 Auditor General’s Report 2009 TS 5 RECONCILIATION STATEMENT OF THE EXCHEQUER BANK ACCOUNT AS AT 2009, SEPTEMBER 30 APPENDIX A: APPENDIX B: OUTSTANDING CREDITS: SHORT CHARGES: $ c $ c December TOTAL: 1982 0.60 0.60 December 1972 0.60 30th April 1979 0.08 4th February 1980 1.00 TOTAL: 1.68 APPENDIX C: APPENDIX D: OVERCHARGES: OUTSTANDING DEBITS: $ c January 1975 294.26 June 1977 TOTAL: $ c 0.02 0.02 30th September 1982 300.00 March TOTAL: 1979 0.03 594.29 APPENDIX E: APPENDIX F: OVERPOSTING BY CENTRAL BANK: AMOUNT POSTED TO TREASURY CARD BUT NOT REFLECTED ON SUMMARY PAID CHEQUES FOR: $ c $ c 10th September 1977 TOTAL: 10.00 10.00 29th September 1978 0.08 30th October 1978 TOTAL 0.01 0.09 13 Auditor General’s Report 2009 DEBIT ADJUSTMENT TO BE MADE BY CENTRAL BANK TS 6 APPENDIX G: DATE August 2009 September 2009 AMOUNT REMARKS 23,467,105.14 338,092,925.21 3,114,444.32 OSM Transfer IDA Run 2 Transfers OSM Transfers 2,542.30 3,022.02 17,500.00 1,783.66 900.00 81,368.26 91,179,520.99 43,735.85 1,475,229.44 20,124.49 79,232,436.17 8,055.18 51,023,126.71 181,372,309.25 253,752.66 205,318.94 254.15 2,000.00 2,465.33 2,269,188,349.04 3,038,788,269.11 Cash Transaction # 89 Cash Transaction # 87 Cash Transaction # 90 Cash Transaction # 97 Cash Transaction # 102 Other Government Transfers IDA Run 2 Transfers Other Government Transfers Other Government Transfers Other Government Transfers OSM Transfers Other Government Transfers IDA Run I Transfers IDA Run 6 Transfers Cash Transactionn # 119 Cash Transaction # 118 Cash Transaction # 121 Cash Transaction # 122 IDA Run 9 Transfers IDA Run 10 Transfers
 14 Auditor General’s Report 2009 CREDIT ADJUSTMENT TO BE MADE BY CENTRAL BANK TS 7 APPENDIX H: DATE July 2009 August 2009 September 2009 AMOUNT REMARKS 228,239.84 Closing Entries Transfers 3,793.35 3,608,817.84 13.79 Closing Entries Transfers Closing Entries Transfers OSM Transfer COA 28.09.09 COA 29.09.09 Shift I Transfers Shift 2 Transfers Shift 3 Transfers DRS 1st Period DRS 2nd Period Shift 4 Transfer DRS 3rd Period DRS 4th Period Tobago Cash Transaction #94 Cash Transaction # 96 Cash Transaction # 98 Cash Transaction # 99 Cash Transaction # 101 Cash Transaction # 103 Cash Transaction #105 IDA Run 4 Transfers Closing Entries Transfer Closing Entries Transfer IDA Run 3 Transfers OSM Transfers Cash Transaction #107 IDA Run 5 Transfers IDA Run 7 Transfers Cash Transaction # 120 IDA Run 8 Transfers Cash Transaction #123 Cash Transaction #125 OSM Transfers IDA Run II 15 Auditor General’s Report 2009 TS 8 SUMMARY TOTAL OF PUBLIC DEBT AS AT 2009 SEPTEMBER 30 $ ¢ (a) Local Loans 14,877,630,326.20 (b) External Loans 9,729,260,317.65 (c) Loans Serviced under Head 18 24,606,890,643.85 4,934,757,151.76 29,541,647,795.61 16 Auditor General’s Report 2009 (A) LOCAL LOANS LEGAL AUTHORITY (i) Ordinance 15 of 1920 (Chapter 222) (ii) New Loans Ordinance 3 of 1941 Amendment 2 of 1943 Amendment 4 of 1944 (iii) Ordinances 27 of 1941 and 23 of 1942 (iv) Ordinance 30 of 1944 (v) Ordinances 36 of 1956 and 18 of 1959 (vi) Chapter 71:41 Legal Notice #33/87 (vii) Chapter 71:40 Legal Notice #35/87 Legal Notice #26/03 Legal Notice #182/06 (viii) Chapter 71:03 (ix) Chapter
 71:04 Act # 29/94 Legal Notice #15/00 Legal Notice #27/03 Legal Notice #148/08 (x) Act No.7 of 1995 (xi) Act.
No.14 of 1995 Legal Notice #25/03 Legal Notice #182A/06 SUMMARY STATEMENT OF THE PUBLIC DEBT OF TRINIDAD AND TOBAGO AS AT 2009 SEPTEMBER 30 AMOUNT AUTHORISED TO BE RAISED $ ¢ £1,000,000.00 converted at $4.80 4,800,000.00 7,000,000.00 2,100,000.00 5,000,000.00 63,500,000.00 500,000,000.00 15,000,000,000.00 Amount not specified 20,000,000,000.00 (External and Local) 2,000,000,000.00 5,000,000,000.00 TS 9 PRESENT DEBT $ ¢ 480.00 18,992.00 1,056.00 30,144.00 67,900.00 1,819,218.35 800,000,000.00 0.00 13,883,362,797.85 9,329,738.00 183,000,000.00 17 Auditor General’s Report 2009 TOTAL 14,877,630,326.20 SUMMARY STATEMENT OF THE PUBLIC DEBT OF TRINIDAD AND TOBAGO AS AT 2009 SEPTEMBER 30 (B) EXTERNAL LOANS TS 10 LEGAL AUTHORITY AMOUNT AUTHORISED TO BE RAISED PRESENT DEBT (i) Chapter 48:02 (ii) Chapter 71:03 (iii) Chapter 71:04 Act # 29/94 Legal Notice #15/00 Legal Notice #27/03 Legal Notice #148/08 (iv) Chapter 71:05 Legal Notice #111/93 $ ¢ Amount not specified Amount not specified 20,000,000,000.00 (External and Local) $ ¢ 0.00 1,682,102.40 0.00 9,000,000,000.00 7,262,233,547.33 (v) Chapter 71:06 Amount not specified 138,145,064.50 (vi) Chapter 71:07 Amount not specified 2,320,299,296.84 (vii) Chapter 08:02 Amount not specified (viii) Chapter 54:40 Amount not specified 0.00 6,900,306.58 TOTAL 9,729,260,317.65 18 Auditor General’s Report 2009 SUMMARY OF LOANS FROM GENERAL REVENUE REPAYABLE TO THE GOVERNMENT OF TRINIDAD AND TOBAGO AS AT 2009 SEPTEMBER 30 TS 11 TO WHOM MADE LOANS ISSUED AMOUNT REPAID / WRITTEN OFF BALANCE OUTSTANDING AS AT 2009 SEPTEMBER 30 STATE CONTROLLED ENTERPRISES 40,108,520.19 40,108,520.19 0.00 OTHER GOVERNMENTS 127,467,709.24 236,761.94 127,230,947.30 OTHERS 146,549,591.33 23,389,900.46 123,159,690.87 STATUTORY BODIES 1,507,797,057.75 1,778,381.96 1,506,018,675.79 TOTAL 1,821,922,878.51 65,513,564.55 1,756,409,313.96 19 Auditor General’s Report 2009 LOANS FROM GENERAL REVENUE REPAYABLE TO THE GOVERNMENT OF TRINIDAD AND TOBAGO AS AT 2009 SEPTEMBER 30 TO WHOM MADE AMOUNT OF LOAN DATE AUTHORITY TOTAL AMOUNT REPAID/WRITTEN OFF AS AT 2009.09.30 BALANCE OUTSTANDING AS AT 2009.09.30 REMARKS STATE CONTROLLED ENTERPRISES 40,108,520.19 40,108,520.19 0.00 PETROTRIN (Formerly TRINTOC & TRINTOPEC) $ ¢ $ ¢ $ ¢ Design and Construction of MTBE Plant 40,108,520.19 40,108,520.19 0.00 Total amount disbursed $40,108,520.19.
Disbursement for Sept. 1997 in the amount of $1,914,804.60 was brought to account in Aug. 2008.

Total amount was repaid in April 2009 TS 12 40,108,520.19 40,108,520.19 0.00 OTHER GOVERNMENTS 127,467,709.24 236,761.94 127,230,947.30 GOVERNMENT OF BELIZE 250,000.00 Dec. 1975 GOVERNMENT OF GRENADA 103,938,450.00 Dec. 2005 GOVERNMENT OF DOMINICA 23,279,259.24 Aug. 2006 4th S.G.W.

1975 Finance & Audit (Amendment) Act No.


37 of 2000 Cabinet Minute #2738 dated 2004.09.30 236,761.94 13,238.06 Repayable over thirty-five (35) years with a moratorium of ten (10) years on capital repayment.

Interest chargeable at 2 1/2 % per annum.

0.00 103,938,450.00 Bond to be repaid at par in equal semi-annual instalments on February 28 and August 31 commencing 2011 February 28.

Interest chargeable at 2% per annum.

0.00 23,279,259.24 Terms and conditions of repayment to be determined.
CARRIED FORWARD 167,576,229.43 40,345,282.13 127,230,947.30 127,467,709.24 236,761.94 127,230,947.30 20 Auditor General’s Report 2009 LOANS FROM GENERAL REVENUE REPAYABLE TO THE GOVERNMENT OF TRINIDAD AND TOBAGO AS AT 2009 SEPTEMBER 30 TS 13 TO WHOM MADE AMOUNT OF LOAN DATE AUTHORITY TOTAL AMOUNT REPAID/WRITTEN OFF AS AT 2009.09.30 BALANCE OUTSTANDING AS AT 2009.09.30 REMARKS BROUGHT FORWARD 167,576,229.43 40,345,282.13 127,230,947.30 $ ¢ $ ¢ $ ¢ OTHERS 146,549,591.33 23,389,900.46 123,159,690.87 NATIONAL ENERGY SKILLS CENTRE 42,718,239.20 Loan Agreement dated 7.11.00 0.00 42,718,239.20 Loan amount US$7.54Mn.
Drawdown as at 2007.09.30 : US$7,122,347.85, Euro 9,477.22 and TT$ 1,368,475.55 To bear interest at the rate of 7% per annum.

Principal repayment with effect from 2004.12.15.

42,718,239.20 0.00 42,718,239.20 TT POST 71,838,735.07 Loan Agreement dd 14.6.99 0.00 71,838,735.07 Loan Amount US$14,850,000.

Revised to US$11,450,000.

Drawdown as at 2007.09.30 : US$11,450,000.00 Principal and Interest to be paid on 15th Dec. and 15th June .

Principal repayment commenced 15th December,2004.


71,838,735.07 0.00 71,838,735.07 TRINITY CATHEDRAL 250,000.00 Sept. 1991 Cab.

Min.

#2879 dated 6.1.83 217,789.99 32,210.01 Loan to be repaid over a period of twenty (20) yrs, at forty (40) semi-annual instalments with effect from 24th January, 1992.

250,000.00 217,789.99 32,210.01 SUGAR MANUFACTURING COMPANY LIMITED 31,742,617.06 May 21,2005 April 21,2006 Cab.

Min.

#444 dated 12.2.2004 23,172,110.47 8,570,506.59 Loan amount of $30,500,000.00.
Moratorium on principal and interest for one (1) year.

Interest of $1,242,617.06 has been capitalized.

Loan to be repaid in twelve (12) monthly payments of $2,645,218.09 commencing on 2005 May 21 with the final payment due on 2006 April 21.
31,742,617.06 23,172,110.47 8,570,506.59 CARRIED FORWARD 314,125,820.76 63,735,182.59 250,390,638.17 21 Auditor General’s Report 2009 TS 14 LOANS FROM GENERAL REVENUE REPAYABLE TO THE GOVERNMENT OF TRINIDAD AND TOBAGO AS AT 2009 SEPTEMBER 30 TO WHOM MADE AMOUNT OF LOAN DATE AUTHORITY TOTAL AMOUNT REPAID/WRITTEN OFF AS AT 2009.09.30 BALANCE OUTSTANDING AS AT 2009.09.30 REMARKS BROUGHT FORWARD 314,125,820.76 63,735,182.59 250,390,638.17 $ ¢ $ ¢ $ ¢ STATUTORY BODIES: 1,507,797,057.75 1,778,381.96 1,506,018,675.79 TRINIDAD & TOBAGO ELECTRICITY COMMISSION Trinidad and Tobago Electricity Commission 121,924,474.17 2005 Trinidad and Tobago Electricity Commission 282,367,269.00 2006 Warrant #1 of 2005 dated 25.06.2005 Cabinet Minute #2456 dated 22.09.2005 0.00 121,924,474.17 Terms and conditions of repayment to be determined.
0.00 282,367,269.00 Terms and conditions of repayment to be determined 404,291,743.17 0.00 404,291,743.17 .

PORT AUTHORITY 13,897,489.58 1969-1974 3rd S.G.W.

1974 1,778,381.96 12,119,107.62 Loans to be converted to equity vide Cabinet Minute No.

270 (2nd Session) dated 2002/12/05 - do - - do - - do - - do - - do - - do - 262,320.00 Dec. 1975 4th S.G.W.

1975 0.00 262,320.00 3,600,000.00 Dec. 1975 4th S.G.W.

1975 2,922,000.00 Dec. 1975 4th S.G.W.

1975 8,324,777.00 1976 Exp.


Est., 1976 25,085,810.00 Dec. 1976 5th S.G.W.1976 Warrants 5, 21, 29, 36 & 38 of 1976 0.00 0.00 0.00 0.00 3,600,000.00 2,922,000.00 8,324,777.00 25,085,810.00 39,238,491.00 1977 Exp.
Est., 1977 0.00 39,238,491.00 -do- -do- -do- -do- -do- -do- 93,330,887.58 1,778,381.96 91,552,505.62 CARRIED FORWARD 314,125,820.76 63,735,182.59 250,390,638.17 22 Auditor General’s Report 2009 LOANS FROM GENERAL REVENUE REPAYABLE TO THE GOVERNMENT OF TRINIDAD AND TOBAGO AS AT 2009 SEPTEMBER 30 TO WHOM MADE AMOUNT OF LOAN DATE AUTHORITY TOTAL AMOUNT REPAID/WRITTEN OFF AS AT 2009.09.30 BALANCE OUTSTANDING AS AT 2009.09.30 REMARKS BROUGHT FORWARD 314,125,820.76 63,735,182.59 250,390,638.17 $ ¢ $ ¢ $ ¢ TS 15 STATUTORY BODIES (CONT'D) PORT AUTHORITY (CONT'D) - do - - do - - do - - do - - do - - do - - do - - do - - do - - do - TOTAL: 34,008,909.00 1978 Exp.
Est., 1978 116,966,822.00 1979 Exp.

Est., 1979 86,628,572.00 1980 Exp.

Est., 1980 107,521,886.00 1981 Exp.

Est., 1981 102,086,964.00 1982 Exp.

Est., 1982 263,719,897.00 1983 Exp.

Est., 1983 104,984,288.00 1984 Exp.

Est., 1984 120,647,359.00 1985 Exp.

Est., 1985 66,509,730.00 1986 Exp.

Est., 1986 7,100,000.00 1987 Exp.

Est., 1987 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 34,008,909.00 Loans to be converted to equity vide Cabinet Minute No.
116,966,822.00 270 (2nd Session) dated 2002/12/05 refer.
-do- 86,628,572.00 -do- 107,521,886.00 -do- 102,086,964.00 -do- 263,719,897.00 -do- 104,984,288.00 -do- 120,647,359.00 -do- 66,509,730.00 -do- 7,100,000.00 -do- 1,010,174,427.00 0.00 1,010,174,427.00 1,507,797,057.75 1,821,922,878.51 1,778,381.96 1,506,018,675.79 65,513,564.55 1,756,409,313.96 23 Auditor General’s Report 2009 STATEMENT OF REVENUE FOR THE FINANCIAL YEAR 2009 TS 16 HEADS OF REVENUE TAX REVENUE APPROVED ESTIMATES FINANCIAL YEAR 2009 $ ¢ REVISED ESTIMATES FINANCIAL YEAR 2009 $ ¢ ACTUAL REVENUE FINANCIAL YEAR 2009 $ ¢ ACTUAL (LESS)/MORE THAN ORIGINAL ESTIMATES $ ¢ ACTUAL (LESS)/MORE THAN REVISED ESTIMATES $ ¢ 01.
TAXES ON INCOME AND PROFITS 28,479,349,730.00 22,276,149,759.00 22,902,795,635.98 (5,576,554,094.02) 02.

TAXES ON PROPERTY 75,650,000.00 72,768,000.00 71,413,824.19 (4,236,175.81) 626,645,876.98 (1,354,175.81) 03.

TAXES ON GOODS AND SERVICES 9,569,104,248.00 6,232,171,540.00 6,096,859,650.24 (3,472,244,597.76) (135,311,889.76) 04.

TAXES ON INTERNATIONAL TRADE 2,506,550,625.00 1,850,322,601.00 1,828,549,597.43 (678,001,027.57) (21,773,003.57) 05.
OTHER TAXES 348,000,000.00 180,500,000.00 190,131,416.22 (157,868,583.78) 9,631,416.22 TOTAL TAX REVENUE 40,978,654,603.00 30,611,911,900.00 31,089,750,124.06 (9,888,904,478.94) 477,838,224.06 NON-TAX REVENUE 06.

PROPERTY INCOME 6,149,340,663.00 5,392,630,805.00 5,353,163,286.79 (796,177,376.21) (39,467,518.21) 07.

OTHER NON-TAX REVENUE 897,672,180.00 879,336,413.00 1,000,523,514.46 102,851,334.46 08.
REPAYMENT OF PAST LENDING 21,261,625.00 18,830,190.00 121,654,722.92 100,393,097.92 TOTAL NON-TAX REVENUE 7,068,274,468.00 6,290,797,408.00 6,475,341,524.17 (592,932,943.83) SUB-TOTAL 48,046,929,071.00 36,902,709,308.00 37,565,091,648.23 (10,481,837,422.77) 121,187,101.46 102,824,532.92 184,544,116.17 662,382,340.23 CAPITAL RECEIPTS 09.
CAPITAL REVENUE 26,036,300.00 43,633,593.00 51,346,885.18 25,310,585.18 7,713,292.18 TOTAL CAPITAL RECEIPTS 26,036,300.00 43,633,593.00 51,346,885.18 25,310,585.18 7,713,292.18 SUB-TOTAL 48,072,965,371.00 36,946,342,901.00 37,616,438,533.41 (10,456,526,837.59) 670,095,632.41 FINANCING 10.

BORROWING 3,592,420,000.00 2,506,536,132.00 2,547,872,093.65 (1,044,547,906.35) 41,335,961.65 12.
DEBT FINANCING TOTAL FINANCING GRAND TOTAL 0.00 0.00 0.00 0.00 0.00 3,592,420,000.00 2,506,536,132.00 2,547,872,093.65 (1,044,547,906.35) 41,335,961.65 51,665,385,371.00 39,452,879,033.00 40,164,310,627.06 (11,501,074,743.94) 711,431,594.06 24 Auditor General’s Report 2009 STATEMENT OF EXPENDITURE FOR THE FINANCIAL YEAR 2009 TS 17 HEAD OF EXPENDITURE 01 - President 02 - Auditor General 03 - Judiciary 04 - Industrial Court 05 - Parliament 06 - Service Commissions 07 - Statutory Authorities' Service Commission 08 - Elections and Boundaries Commission 09 - Tax Appeal Board 11 - Registration, Recognition and Certification Board 12 - Public Service Appeal Board 13 - Office of The Prime Minister 15 - Tobago House of Assembly 16 - Central Administrative Services, Tobago 17 - Personnel Department 18 - Ministry of Finance ORIGINAL ESTIMATES FINANCIAL YEAR 2009 $ ¢ 33,242,000.00 51,942,630.00 391,886,530.00 43,221,489.00 124,361,000.00 96,193,960.00 6,907,830.00 97,573,570.00 9,135,310.00 3,516,845.00 2,899,936.00 732,132,000.00 1,992,641,735.00 18,768,500.00 58,415,930.00 10,366,900,174.00 SUPPLEMENTARY ESTIMATES AND TRANSFERS TOTAL APPROVED ESTIMATES FINANCIAL YEAR 2009 ACTUAL EXPENDITURE FINANCIAL YEAR 2009 VARIANCE LESS THAN ESTIMATES MORE THAN ESTIMATES $ ¢ $ ¢ $ ¢ $ ¢ $ ¢ 10,366,900,174.00 8,904,114,852.15 1,462,785,321.85 19 - Charges on Account of the Public Debt 4,207,500,000.00
 1,112,397,166.00 5,319,897,166.00 4,952,232,470.70 367,664,695.30 20 - Pensions and Gratuities 1,809,025,000.00 64,367,000.00 1,873,392,000.00 1,848,222,221.84 25,169,778.16 21 - Ministry of Planning, Housing and the Environment 605,888,491.00 605,888,491.00 498,934,666.41 106,953,824.59 22 - Ministry of National Security 23 - Ministry of the Attorney General 24 - Ministry of Legal Affairs 25 - Ministry of Agriculture, Land and Marine Resources 26 - Ministry of Education 28 - Ministry of Health 30 - Ministry of Labour and Small and Micro Enterprise 4,720,379,703.00 15,023,000.00 4,735,402,703.00 4,605,277,226.51 130,125,476.49 219,127,215.00 129,553,915.00 888,545,871.00 3,413,542,684.00 3,620,089,399.00 219,127,215.00 148,332,263.59 70,794,951.41 129,553,915.00 101,489,978.81 28,063,936.19 888,545,871.00 689,790,606.20 198,755,264.80 3,413,542,684.00 3,270,529,936.80 143,012,747.20 3,620,089,399.00 3,216,600,981.31 403,488,417.69 Development 192,360,956.00 192,360,956.00 139,042,563.02 53,318,392.98 Carried Forward 33,835,752,673.00 1,191,791,166.00 35,027,543,839.00 31,374,047,993.35 3,653,495,845.65 25 Auditor General’s Report 2009 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 STATEMENT OF EXPENDITURE FOR THE FINANCIAL YEAR 2009 TS 18 HEAD OF EXPENDITURE ORIGINAL ESTIMATES FINANCIAL YEAR 2009 SUPPLEMENTARY ESTIMATES AND TRANSFERS TOTAL APPROVED ESTIMATES FINANCIAL YEAR 2009 ACTUAL EXPENDITURE FINANCIAL YEAR 2009 VARIANCE LESS THAN ESTIMATES MORE THAN ESTIMATES Brought Forward 33,835,752,673.00 1,191,791,166.00 35,027,543,839.00 31,374,047,993.35 3,653,495,845.65 31 - Ministry of Public Administration 35 - Ministry of Tourism 37 - Integrity Commission 38 - Environmental Commission 39 - Ministry of Public Utilites 40 - Ministry of Energy and Energy Industries 42 - Ministry of Local Government 43 - Ministry of Works and Transport 46 - Ministry of Sport and Youth Affairs 47 -
 Ministry of Foreign Affairs 48 - Ministry of Trade and Industry - Ministry of Science, Technology and Tertiary Education 2,361,258,360.00 2,361,258,360.00 1,913,547,903.79 447,710,456.21 55 - Ministry of Community Development, Culture and Gender Affairs 56 - Ministry of Social Development 57 - Ministry of Information 401,876,359.00 2,564,935,236.00 378,938,479.00 401,876,359.00 334,032,867.29 67,843,491.71 2,564,935,236.00 2,411,162,413.02 153,772,822.98 378,938,479.00 256,110,725.73 122,827,753.27 TOTAL 50,957,115,562.00 1,191,791,166.00 52,148,906,728.00 45,328,777,837.76 6,820,128,890.24 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 26 Auditor General’s Report 2009 LOANS OR CREDIT GUARANTEED BY THE STATE AS AT 2009 SEPTEMBER 30 LENDING AGENCY AMOUNT GUARANTEED 2008 2009 TS 19 STATE ENTERPRISE / STATUTORY BOARD Economic Management Division (EMD) Airports Authority of Trinidad and Tobago Citicorp Merchant Bank Limited $300Mn 300,000,000.00 300,000,000.00 300,000,000.00 Republic Finance and Merchant Bank $300Mn Republic Finance and Merchant Bank 379.3Mn Trinidad and Tobago Unit Trust Corporation $129,121,531 Dresdner Bank Latin-American AG US$26,276,424.00 300,000,000.00 230,000,000.00 210,000,000.00 426,669,792.00 202,048,687.00 167,491,597.00 129,121,531.50
 89,391,830.00 82,770,212.50 165,541,471.20 49,470,096.68 33,484,572.63 1,321,332,794.70 870,910,613.68 793,746,382.13 Port Authority of Trinidad and Tobago RBTT Merchant Bank - Fixed Rate Bond Issue 2001 - 2011 - TT$150Mn.
150,000,000.00 49,999,999.99 33,333,333.33 Citicorp Fixed Rate Bond Issue 2004-2019 -TT340.4Mn.

US Fixed Rate Bond Issue 2007- 2017 - US$66.5Mn.

340,400,000.00 247,530,114.94 224,312,644.00 420,712,250.00 354,728,290.00 317,783,550.00 911,112,250.00 652,258,404.93 575,429,527.33 Public Transport Service Corporation Citicorp - $40Mn.

Bond 40,000,000.00 3,529,411.77 1,176,470.59 Fincor - $75.3Mn.

Bond plus interest capitalised 95,509,423.00 26,530,383.00 21,224,303.36 Citicorp - $130.1Mn.
Bond 185,240,039.06 49,568,634.42 45,258,318.29 First Citizen Bank Ltd TT$93,645,285.79 Fincor - $42Mn.

Bond Scotia Trust & Merchant Bank (T & T) Limited TT$121,384,503 Citibank (T & T) Limited TT$55mn.
93,645,285.79 0.00 68,673,209.55 52,443,414.00 5,826,940.00 0.00 466,838,161.85 85,455,369.19 136,332,301.79 121,384,503.00 43,351,608.21 26,010,964.94 55,000,000.00 23,571,428.56 15,714,285.71 176,384,503.00 66,923,036.77 41,725,250.65 Regional Health Authorities 27 Auditor General’s Report 2009 LOANS OR CREDIT GUARANTEED BY THE STATE AS AT 2009 SEPTEMBER 30 TS 20 STATE ENTERPRISE / STATUTORY BOARD LENDING AGENCY AMOUNT GUARANTEED 2008 2009 The University of the West Indies I.A.D.B.
US$ 22,930,537.00 145,070,042.33 78,690,608.16 69,884,842.94 U.S. AID US$3,870,000 24,483,555.00 9,315,412.78 8,609,987.68 EDF €1,640,246 15,056,474.13 12,958,771.71 10,616,296.22 184,610,071.46 100,964,792.65 89,111,126.84 Water and Sewerage Authority First Citizens, Trust and Asset Management Limited 55Mn 55,000,000.00 26,681,990.00 22,636,560.00 Republic Finance and Merchant Bank Limited 50Mn Republic Finance and Merchant Bank Limited - $78.6Mn.
Plus capitalised interest RBTT Merchant Bank Limited - $300Mn.

Plus capitalised interest Republic Finance and Merchant Bank Limited - $343Mn.

Plus capitalised interest Republic Finance and Merchant Bank Limited - $330Mn.

Plus capitalised interest Citicorp Merchant Bank - $413Mn.

Plus capitalised interest Republic Finance and Merchant Bank Limited - $271.4Mn.
Plus capitalised interest 50,000,000.00 50,000,000.00 50,000,000.00 99,695,097.00 27,693,089.00 22,154,474.00 354,782,658.00 354,782,658.00 354,782,658.00 403,364,940.00 403,364,940.00 403,364,940.00 461,663,500.00 415,497,008.00 384,719,346.00 471,641,641.00 471,641,641.16 377,313,313.00 296,974,125.00 193,857,141.00 168,009,520.00 Citicorp Merchant Bank 145Mn 153,606,557.00 120,690,866.00 109,718,969.10 Republic Finance and Merchant Bank Limited $500Mn 500,000,000.00 412,500,000.00 387,500,000.00 Central Bank of Trinidad and Tobago $420Mn Central Bank of Trinidad and Tobago $360Mn 432,220,000.00 432,220,000.00 432,220,000.00 360,000,000.00 288,000,000.00 252,000,000.00 CBTT - TT$300Mn FRB 2014 300,000,000.00 0.00 300,000,000.00 3,938,948,518.00 3,196,929,333.16 3,264,419,780.10 28 Auditor General’s Report 2009 LOANS OR CREDIT GUARANTEED BY THE STATE AS AT 2009 SEPTEMBER 30 TS 21 STATE ENTERPRISE / STATUTORY BOARD LENDING AGENCY AMOUNT GUARANTEED 2008 2009 Trinidad and Tobago Electricity Commission Republic Finance and Merchant Bank $200Mn 200,000,000.00 27,880,854.00 16,728,498.00 Royal Merchant Bank and Finance Company Limited $500Mn 714,292,720.00 525,215,235.28 483,198,016.00 USD 76Mn.
- 478.8 Mn.
478,800,000.00 476,945,600.00 489,165,005.03 1,393,092,720.00 1,030,041,689.28 989,091,519.03 Housing Development Company CBTT Bond TT306Mn 306,000,000.00 306,000,000.00 306,000,000.00 CBTT Bond TT600.Mn 600,000,000.00 600,000,000.00 600,000,000.00 CBTT Bond TT475.Mn 475,000,000.00 475,000,000.00 475,000,000.00 CBTT Bond TT700.Mn 700,000,000.00 700,000,000.00 700,000,000.00 CBTT Bond TT$500Mn 500,000,000.00 0.00 500,000,000.00 2,581,000,000.00 2,081,000,000.00 2,581,000,000.00 Total EMD Investments Division 10,973,319,019.01 8,084,483,239.66 8,470,855,887.87 Tourism and Industrial Development Company of Trinidad and Tobago First Citizens Bank Limited TT180Mn.
180,000,000.00 112,500,000.00 0.00 First Citizens Bank Limited TT595Mn.

707,259,718.00 610,815,211.00 887,259,718.00 723,315,211.00 0.00 0.00 29 Auditor General’s Report 2009 LOANS OR CREDIT GUARANTEED BY THE STATE AS AT 2009 SEPTEMBER 30 STATE ENTERPRISE / STATUTORY BOARD LENDING AGENCY AMOUNT GUARANTEED 2008 2009 TS 22 Caroni (1975) Limited Republic Finance and Merchant Bank - Fixed Rate Bonds 1999 - 2012 - $100Mn.

Republic Finance and Merchant Bank - Fixed Rate Bonds 1999 - 2012 - $120Mn.
Republic Finance and Merchant Bank - Fixed Rate Bonds 1999 - 2014 - $438.5Mn.

Republic Finance and Merchant Bank - Fixed Rate Bonds 2003 - 2015 - $518.5Mn.

Republic Finance and Merchant Bank - Fixed Rate Bonds 2003 - 2018 - $489.3Mn.

The Mercantile Banking and Financial Corp. - $131Mn.
100,000,000.00 66,808,010.00 0.00 120,000,000.00 68,571,432.00 0.00 438,500,000.00 219,250,000.00 0.00 576,183,690.00 535,027,702.00 0.00 489,300,000.00 329,029,519.00 0.00 131,000,000.00 78,600,000.00 1,854,983,690.00 1,297,286,663.00 0.00 0.00 Export Import Bank of Trinidad and Tobago Scotiabank - Line of Credit (Revolving) TT$44,680,000 44,680,000.00 17,900,000.00 41,752,000.00 44,680,000.00 17,900,000.00 41,752,000.00 First Citizens Holdings Limited TT$86.2Mn 104,281,644.00 72,997,153.00 0.00 Central Bank $61,123,539 Capitalised 61,123,539.00 44,314,571.00 165,405,183.00 117,311,724.00 0.00 0.00 National Maintenance Training and Security Company Limited Citibank of Trinidad and Tobago $174,082,278 175,614,572.00 107,198,034.00 0.00 Republic Bank Limited - Overdraft facility 4.3Mn 4,300,000.00 0.00 179,914,572.00 107,198,034.00 0.00 0.00 Petroleum Company of Trinidad and Tobago Limited Caribbean Development Bank US$18Mn 74,668,528.04 11,804,016.74 6,851,078.38 74,668,528.04 11,804,016.74 6,851,078.38 30 Auditor General’s Report 2009 STATE ENTERPRISE / STATUTORY BOARD Taurus Services Limited LOANS OR CREDIT GUARANTEED BY THE STATE AS AT 2009 SEPTEMBER 30 LENDING AGENCY AMOUNT GUARANTEED 2008 2009 TS 23 First Citizens Bank Limited - $362Mn.
Plus capitalised interest Agricultural Development Bank of Trinidad and Tobago Limited $61.5Mn Republic Merchant Bank Limited - $494Mn.

Plus capitalised interest Republic Merchant Bank Limited - $240,820,014 Plus capitalised interest Republic Merchant Bank Limited - US$31.44Mn.

Plus capitalised interest First Citizens Bank Limited - $268Mn.

Plus capitalised interest First Citizens Bank Limited - $101Mn.
Plus capitalised interest Consolidation of two loans of TT$78Mn and TT$23Mn First Citizens Bank Limited - $60Mn.

Plus capitalised interest First Citizens Bank Limited - $155Mn.

Plus capitalised interest First Citizens Bank Limited - US$32.6Mn.
Trinidad and Tobago Mortgage Finance Company Limited Mercantile Bond Issue $100Mn 100,000,000.00 100,000,000.00 100,000,000.00 National Insurance Board $200Mn 200,000,000.00 120,000,000.00 110,000,000.00 300,000,000.00 220,000,000.00 210,000,000.00 Urban Development Corporation Trinidad and Tobago Limited $150Mn.
(plus capitalised interest) - TT192Mn 192,000,000.00 152,000,000.00 192,000,000.00 152,000,000.00 0.00 0.00 31 Auditor General’s Report 2009 LOANS OR CREDIT GUARANTEED BY THE STATE AS AT 2009 SEPTEMBER 30 TS 24 STATE ENTERPRISE / STATUTORY BOARD LENDING AGENCY AMOUNT GUARANTEED 2008 2009 National Insurance Property Development Company Limited TT$682Mn Fixed Rate Bond 682,000,000.00 682,000,000.00 0.00 0.00 682,000,000.00 682,000,000.00 Total Investments Division 7,090,105,902.90 4,191,316,132.57 952,103,078.38 18,063,424,921.91 12,275,799,372.23 9,422,958,966.25 Grand Total AUTHORITY (a) Guarantee of Loans (Companies Act Chapter 71:82) (b) Guarantee of Loans (Statutory Authorities Act Chapter 71:81) (c) Guarantee of Loans (U.W.I.)
Act 1993 (d) National Development (Inter-American Development Bank) Loans Act Chapter 71:07 NOTE: Balances on Loans or Credit Guaranteed by GORTT totalling $3,530,746,537.17 as detailed below have crystallised and are now recorded as Debt and Serviced under Head 18 - Ministry of Finance: Tourism Industrial Development Co. Ltd. Caroni (1975) Ltd. Taurus Services Limited First Citizens Holdings Ltd. UDECOTT National Maintenance Training & Security Co. Ltd. 682,167,042.00 1,101,381,929.00 1,442,542,589.17 136,000,000.00 70,390,112.00 98,264,865.00 3,530,746,537.17 32 Auditor General’s Report 2009 REPUBLIC OF TRINIDAD AND TOBAGO CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES AS AT 2009 SEPTEMBER 30 TS 25 2008 $ ¢ A S S E T S Note Schedule $ ¢ 107,864,982.16 12,014,740.58 75,049,740.98 18,193,391.42 2,607,109.18 INVESTMENTS General (Treasury Deposits) Special Funds Trust Funds Investment Consolidated Fund 174,815,997.45 2,425,849.84 ADVANCES Treasury Deposits 172,390,147.61 0.00 Advances Fund Contingencies Fund 13,706,431,396.74 (5,683,360,191.19) CASH AND BANK Exchequer Account 7,016,839,703.41 284,596,822.02 5,755,778.18 4,352,206,939.29 154,085,575.75 5,341,829,087.54 4,165,840.90 35,997,875.51 1,593,301,306.74 37,580,195.25 562,609,075.48 823,387.86 13,989,112,376.35 Treasury Deposits Account Treasury Funds Account Treasury Suspense Account Unemployment Fund Road Improvement Fund Infrastructure Development Fund NUGFW Training Fund Government Assistance for Tuition Expenses Fund Green Fund CARICOM Trade Support Fund CARICOM Petroleum Fund Exchequer Suspense Account L I A B I L I T I E S 7,105,046,485.90 DEPOSITS 2,389,145,534.36 Treasury Deposits (General) 4,483,519,468.86 232,381,482.68 Special Funds Trust Funds 6,884,065,890.45 4,352,206,939.29 FUNDS Unemployment Fund 154,085,575.75 5,341,829,087.54 4,165,840.90 35,997,875.51 1,593,301,306.74 37,580,195.25 562,609,075.48 351,500,000.00 100,000,000.00 (5,649,210,006.01) 13,989,112,376.35 Road Improvement Fund Infrastructure Development Fund NUGFW Training Fund Government Assistance for Tuition Expenses Fund Green Fund CARICOM Trade Support Fund CARICOM Petroleum Fund Advances Fund Contingencies Fund Consolidated Fund 3 4,5 4,5 A B C D E F G H I J A B C D E F G H I J 105,848,883.29 12,455,599.56 72,638,340.80 18,147,833.75 2,607,109.18 199,010,796.46 1,619,882.47 197,390,913.99 0.00 6,888,658,953.57 (10,789,303,391.50) 7,125,279,210.01 259,596,055.64 6,453,756.52 4,760,937,248.86 161,372,103.48 3,268,740,194.42 5,240,739.47 105,589,270.36 1,906,841,158.79 38,143,898.18 39,643,299.82 125,409.52 7,193,518,633.32 7,210,663,926.26 3,143,066,450.00 3,829,927,996.93 237,669,479.33 (17,145,292.94) 4,760,937,248.86 161,372,103.48 3,268,740,194.42 5,240,739.47 105,589,270.36 1,906,841,158.79 38,143,898.18 39,643,299.82 351,500,000.00 100,000,000.00 (10,755,153,206.32) 7,193,518,633.32 33 Auditor General’s Report 2009 TS 26 THE CONSOLIDATED FUND FOR THE FINANCIAL YEAR 2009 2008 $ ¢ $ ¢ $ ¢ (5,722,666,025.08) Balance as at 2008 October 01 (5,649,210,006.01) Revenue Expenditure 40,164,310,627.06 (45,328,777,837.76) 95,018,317.52 Excess of revenue over expenditure (5,164,467,210.70) (5,164,467,210.70) (5,627,647,707.56) (10,813,677,216.71) (63,927,557.56) (a) Accounting Adjustments re Previous Years (2,877,794.63) 42,365,259.11 (b) Transfer of Previous Years Unpaid Balances to Consolidated Fund 61,401,805.02 (21,562,298.45) 58,524,010.39 (5,649,210,006.01) Balance as at 2009 September 30 (10,755,153,206.32) 34 Auditor General’s Report 2009 NOTES TO THE ACCOUNTS TS 27 1.
GENERAL The Statement of Revenue, Statement of Expenditure as well as the Statement of Assets and Liabilities constitute the annual statements as identified in Section 24(1) (a) iv, v, and vii respectively of the Exchequer and Audit Act Chapter 69:01 as amended by Act No.

23 of 1998.

2.

ACCOUNTING POLICIES (i) (ii) The accounts are kept on a cash basis.

Accordingly, transactions are recorded when moneys are actually received and paid.
The Statement of Assets and Liabilities does not include the Public Debt of $24,606,890,643.85.

However, the Statutory Sinking Funds for the Public Debt in the totaling incorporated sum of $3,819,220,853.51 are $3,829,927,996.93.

The Public Debt does not include the arrears of emoluments owed to Public Sector Employees which have not yet been satisfied by the use of any mechanism, neither does it include amounts due for goods and services.

the Special Funds in 3.


UNEMPLOYMENT FUND In accordance with the Unemployment Levy Act, Chapter 75:03 Section 15, the balances of the Fund are shown in the general accounts.

The accounts of the Fund are presented as Schedules C (i) and (ii) to the Statement of Assets and Liabilities.

4.

ROAD IMPROVEMENT FUND Part X of the Miscellaneous Taxes Act, Chapter 77:01 was repealed by Part V Section 5 of Act No.

2 of 2006 which was assented to on 2006 February, 08 (Finance Act, 2006).
The Road Improvement Fund (RIF) therefore ceased to be operational.

However, at the time of closure of this Account, legislation in respect of Compressed Natural Gas (CNG) was inadvertently omitted.

The National Petroleum Company Limited (NP) continued to collect and remit receipts to the Treasury.

By Legal Notice No.

169 dated 2008 October 10, the Road Improvement Tax (RIT) component in the price of CNG was removed.

5.
5.

The legislations which repealed the RIT, however, did not address the treatment of the balance of monies in the RIF.

The Ministry of Finance has taken steps to approach the Cabinet on this matter and is awaiting a decision.

The balances of the Road Improvement Fund are shown in the general accounts.

The accounts of the Fund are presented as Schedules D (i) and (ii) to the Statement of Assets and Liabilities.

6.
6.

INFRASTRUCTURE DEVELOPMENT FUND In accordance with the Exchequer and Audit Act, Chapter 69:01 Section 43 (2), the balances of the Infrastructure Development Fund are shown in the general accounts.

The accounts of the Fund are presented as Schedules E (i) and (ii) to the Statement of Assets and Liabilities.

35 Auditor General’s Report 2009 TS 28 7.


NATIONAL UNION OF GOVERNMENT AND FEDERATED WORKERS (NUGFW) TRAINING FUND The National Union of Government and Federated Workers (NUGFW) Training Fund was established under Section 43(2) of the Exchequer and Audit, Act Chapter, 69:01 (Legal Notice No.

280 dated 2004 September, 27).

In accordance with the Exchequer and Audit Act, Chapter 69:01, Section 43(2), the balances of the NUGFW Training Fund are shown in the general accounts.
The accounts of the Fund are presented as Schedules F (i) and (ii) to the Statement of Assets and Liabilities.

8.

GOVERNMENT ASSISTANCE FOR TUITION EXPENSES (GATE) FUND The Government Assistance for Tuition Expenses Fund was established under Section 43(2) of the Exchequer and Audit Act, Chapter 69:01 (Legal Notice No.

329 dated 2004 December, 09).

In accordance with the Exchequer and Audit Act, Chapter 69:01, Section 43(2), the balances of the GATE Fund are shown in the general accounts.
The accounts of the Fund are presented as Schedules G (i) and (ii) to the Statement of Assets and Liabilities.

9.

GREEN FUND The Green fund was established by Section 67(1) of the Miscellaneous Taxes as amended by Part VI Section 8(b) of the Finance Act No.

5 of 2004 dated 2004 January 30.

In accordance with Section 67(1) of the Part XIV of the Miscellaneous Taxes Act, the balances of the Green Fund are shown in the general accounts.
The accounts of the Fund are presented as Schedules H (i) and (ii) to the Statement of Assets and Liabilities.

10.

CARICOM TRADE SUPPORT FUND The CARICOM Trade Support fund was established under Section 43(2) of the Exchequer and Audit Act, Chapter 69:01 (Legal Notice No.

13 dated 2005 January, 12).

In accordance with the Exchequer and Audit Act, Chapter 69:01, Section 43(2), the balances of the CARICOM Trade Support Fund are shown in the general accounts.
The accounts of the Fund are presented as Schedules I (i) and (ii) to the Statement of Assets and Liabilities.

11.

CARICOM PETROLEUM FUND The CARICOM Petroleum Fund was established under Section 43(2) of the Exchequer and Audit Act, Chapter 69:01 (Legal Notice 302 dated 2006 November, 23).

In accordance with the Exchequer and Audit Act, Chapter 69:01, Section 43(2), the balances of the CARICOM Petroleum Fund are shown in the general accounts.
The accounts of the Fund are presented as Schedules J (i) and (ii) to the Statement of Assets and Liabilities.

36 Auditor General’s Report 2009 12.

CONTINGENT LIABILITIES TS 29 (i) Loans or Credits Guaranteed by the Government of Trinidad and Tobago The Contingent Liabilities in respect of Loans or Credits Guaranteed by the Government of Trinidad and Tobago as at 2009 September 30 amount to $9,422,958,966.25.
The details are reflected on the Statement submitted in accordance with Section 24 (1) (a) vi of the Exchequer and Audit Act, Chapter 69:01 as amended by Act No.

23 of 1998.

(ii) Letter of Comfort issued by the Government of Trinidad and Tobago The Contingent Liabilities in respect of Letters of Comfort issued by the Government of Trinidad and Tobago as at 2009 September 30 amount to $5,047,669,880.32.

The details are reflected on a Statement in the Accounts.
(iii) Promissory Notes The contingent liabilities in respect of outstanding Promissory Notes issued by the Government of Trinidad and Tobago as at 2009 September 30 amount to $2,413,961,197.72.

The details are reflected on a statement in the accounts.

(iv) Arrears of Emoluments owed to Public Sector Employees The sum of $453,589.90 was notified the Comptroller of Accounts by Ministry/Departments/Agencies as being utilized to offset mechanism during the financial year ended 2009 September 30.
To date, the sum of $1,901.2 million of the Public Sector employees Liability has been satisfied.

This amount comprises $1,859.1 million in respect of non-cash mechanisms (including Special Compensatory Time) and $ 42.0 million representing cash payments.

to (v) Open Market Operations The amount of treasury securities outstanding for the purpose of open market operations (OMO) returned at the statutory ceiling of $19,200.0 million during the third quarter of 2009.
As at 2009 September 30 the face value of open market bills outstanding remained at $14,200.0 million while treasury notes in issue increased by $50.0 million to $5,000.0 million, as notified by the Central Bank.

13.

BALANCES OUTSTANDING ON BUILD, OPERATE, LEASE AND TRANSFER (BOLT) PROJECTS The balances outstanding on Build, Operate, Lease and Transfer (BOLT) Projects as at 2009 September 30 amount to $ 671,385,811.26.

The details are reflected on a Statement in the Accounts.
37 Auditor General’s Report 2009 TS 30 14.

BALANCES ON LOANS ASSUMED BY THE GOVERNMENT OF TRINIDAD AND TOBAGO The balances outstanding in respect of Loans Assumed by the Government of Trinidad and Tobago as at 2009 September 30 in respect of Companies in which Government has/had a shareholding amount to $10,548,543.98.

The details are reflected on a Statement in the Accounts.

15.
15.

PRODUCTION SHARING CONTRACTS Under the provisions of the Production Sharing Contracts, the Government of the Republic of Trinidad and Tobago is entitled to a share of the production of natural gas and crude oil from the operations of the contractors.

The moneys received are placed in the Deposit Account Head 111/570 (Production Sharing Contract).
From this share of production the Minister of Energy and Energy Industries is responsible for meeting the respective Contractor‟s tax and similar financial obligations to the Government.

Total Payments made to the Board of Inland Revenue in respect of the financial Year 2009 is $2,538,887,651.00.

Revenue collection declined by 66% when compared to the receipts collected in the Financial Year 2008.
Details of payments made in the Financial Year 2009 are shown below:- 31/12/2008 31/03/2009 30/06/2009 30/09/2009 $1,111,944,820.00 521,838,595.00 340,860,918.00 564,243,318.00 $2,538,887,651.00 16.
PETROLEUM SUBSIDY PAID TO CONTRACTORS In accordance with Sub-section (2) of Section 5 of the Petroleum Production Levy and Subsidy Act 1974, Chapter 62:02, the total advances made in the financial year 2009 from the Petroleum Products and Subsidy Fund, for the purpose of subsidizing the prices at which Petroleum Products are sold by persons carrying on marketing business, is $562,964,287.15.

The details are available for Audit scrutiny.

17.


ACCIDENTS VICTIMS COMPENSATION FUND In the 2008 Budget Statement the Prime Minister and the Minister of Finance proposed to use the proceeds of the Insurance Premium Tax to establish an Accident Victims Compensation Fund to compensate victims of accidents caused by uninsured drivers.

18.
18.

It was indicated further that the Central Bank of Trinidad and Tobago in conjunction with the Ministry of Finance and the Association of Trinidad and Tobago Insurance Companies (ATTIC) will establish a proposed structure for the establishment of the Fund with a view to having it operationalised in the next fiscal year.

No allocation was made from the Consolidated Fund in the financial year 2009.

38 Auditor General’s Report 2009 TS 31 19.


HERITAGE AND STABILISATION FUND The Heritage and Stabilisation Fund was established by Act No.

6 of 2007 which was assented to on 2007 March 15.

This Fund is denominated in the currency of the United States of America.
The purpose of the Fund is to save and invest surplus petroleum revenues derived from production business in order to cushion the impact on or sustain public expenditure capacity and generate an alternate stream of income so as to support public expenditure capacity during periods of revenue downturn and provide a heritage for future generations.

In accordance with the formula outlined in Sections 13 of the Act, no deposit was made to the Fund at the Central Bank.

20.
20.

CONTINGENCIES FUND The Exchequer and Audit Act, Chapter 69:01 Part IV No.16 provides for the establishment of a Contingencies Fund not exceeding in aggregate $1.5million or such greater sum as Parliament may by resolution approve.

The Contingencies Fund now stands at $100million.

Over the years there have been increases in the Fund with the most recent being $75million.

Legal Notice No.

203 of 2006 is relevant.


The purpose of the Fund is to defray unforeseen expenditure which has not been provided for by 21. the Appropriation Act relating to that year and where the circumstances are such that the expenditure cannot without injury to the public interest be postponed until adequate provision is made by Parliament.

Supplementary funding must be provided in the same financial year to clear all expenditure incurred in respect of advances from the Contingencies Fund.
The total amount advanced from the Fund in the financial year 2009 was $2.437million.

All 22. advances made in the financial year have been retired.
39 Auditor General’s Report 2009 LETTERS OF COMFORT ISSUED BY THE GOVERNMENT OF THE REPUBLIC OF TRINIDAD AND TOBAGO AS AT 2009 SEPTEMBER 30 TS 32 STATE ENTERPRISE / STATUTORY BOARD Economic Management Division Housing Development Corporation Airports Authority of Trinidad and Tobago LENDING AGENCY LOAN AMOUNT 2008 2009 $ $ First Citizens Bank Ltd. TT$300,000,000.00 TT$150,000,000.00 First Citizens Bank Ltd. TT$193.0 Mn ANSA Merchant Bank US$27.2Mn increase to US$43.5Mn 300,000,000.00 150,000,000.00 450,000,000.00 300,000,000.00 150,000,000.00 450,000,000.00 300,000,000.00 150,000,000.00 450,000,000.00 193,000,000.00 147,966,666.69 135,100,000.00 283,800,000.00 0.00 281,417,643.00 RBTT Merchant Bank Ltd. 148,866,542.50 132,410,108.14 119,498,338.54 US$23,443,550 625,666,542.50 280,376,774.83 536,015,981.54 Port Authority of Trinidad and Tobago Caribbean Money Market Brokers Ltd. US$13.4 Mn 84,775,100.00 84,093,040.00 81,110,468.00 RBTT Merchant Bank Ltd. 71,515,000.00 0.00 71,515,000.00 TT$71,515,000 156,290,100.00 84,093,040.00 152,625,468.00 Public Transport Service Corporation First Citizens Bank Ltd. 25,000,000.00 1,785,714.26 0.00 TT$25 Mn First Citizens Bank Ltd. TT$66,042,900 First Citizens Bank Ltd. TT$93,645,000.00 Republic Bank Ltd TT$14,000,000.00 Ordinary Loan Facility 66,042,900.00 52,834,320.00 39,625,740.00 93,645,285.79 74,916,228.61 0.00 14,000,000.00 198,688,185.79 13,824,885.69 143,361,148.56 13,824,885.69 53,450,625.69 Water & Sewerage Authority First Citizens Bk Limited TT$260Mn.
260,000,000.00 155,711,566.52 103,807,711.02 First Citizens Bank US$60,000.00 Republic Bank Ltd Operating Account $100 Mn Temporary increase of TT$320Mn RBTT US$30 Mn 377,994,000.00 266,713,000.00 238,935,000.00 420,000,000.00 394,884,496.14 180,878,352.99 188,934,000.00 1,246,928,000.00 188,268,000.00 1,005,577,062.66 191,148,000.00 714,769,064.01 40 Auditor General’s Report 2009 LETTERS OF COMFORT ISSUED BY THE GOVERNMENT OF THE REPUBLIC OF TRINIDAD AND TOBAGO AS AT 2009 SEPTEMBER 30 TS 33 STATE ENTERPRISE / STATUTORY BOARD LENDING AGENCY LOAN AMOUNT 2008 2009 $ $ Regional Health Authorities South-West RHA 34,408,140.85 0.00 34,408,140.85 Eastern RHA 15,377,052.00 0.00 15,377,052.00 North Central RHA 56,197,399.00 0.00 56,197,399.00 Total EMD Investments Division Republic Finance & Merchant Bank Limited Caroni(1975) Ltd. TT$400Mn & TT$319Mn 105,982,591.85 2,783,555,420.14 0.00 1,963,408,026.05 105,982,591.85 2,012,843,731.09 719,000,000.00 561,190,476.19 719,000,000.00 561,190,476.19 0.00 0.00 National Maintenance Training & Security Company Limited Trinidad and Tobago Solid Waste Management Company Ltd. Unit Trust Corporation TT$175Mn.
Unit Trust Corporation Bank TT$225Mn.
RBTT Merchant Bank TT$1,361,597 RBTT Merchant Bank TT$74,932,978 175,000,000.00 125,641,025.61 0.00 225,000,000.00 155,769,230.76 400,000,000.00 281,410,256.37 0.00 0.00 1,361,597.00 236,234.92 0.00 74,932,978.00 13,000,752.85 76,294,575.00 13,236,987.77 0.00 0.00 Vehicle Maintenance Corporation First Citizens Trust & Mer Bank US$9,820,000 61,840,468.00 18,487,917.60 6,256,911.20 National Helicopter Services Limited (NHSL) Citibank (Trinidad and Tobago) 40,474,287.50 20,335,125.00 14,620,547.34 61,840,468.00 18,487,917.60 6,256,911.20 Limited - US$6,425,000 Unit Trust Corporation US$6,375,000 Republic Finance & Merchant Bank US$11.5Mn 40,148,475.00 24,212,250.00 16,247,580.00 73,273,400.00 153,896,162.50 0.00 44,547,375.00 71,965,979.54 102,834,106.88 41 Auditor General’s Report 2009 TS 34 LETTERS OF COMFORT ISSUED BY THE GOVERNMENT OF THE REPUBLIC OF TRINIDAD AND TOBAGO AS AT 2009 SEPTEMBER 30 STATE ENTERPRISE / STATUTORY BOARD Urban Development Corporation of Trinidad & Tobago Limited LENDING AGENCY LOAN AMOUNT 2008 2009 Republic Finance & Merchant Bank Ltd. TT$45Mn 46,661,528.49 27,000,000.00 0.00 $ $ Citibank (Trinidad & Tobago) 457,247,810.00 458,746,360.00 465,763,960.00 Ltd.
US $73.1 Mn First Citizens Bank TT$320Mn 320,000,000.00 225,991,346.90 321,068,415.62 First Caribbean International 508,323,600.00 508,323,600.00 0.00 Bank US$81 Mn First Caribbean International 582,750,000.00 0.00 531,183,633.45 Bank US $81 Mn revised to US$92.5 Mn Barclay's Capital Inc - 2,385,637,500.00 0.00 2,394,072,362.31 US$375Mn 4,300,620,438.49 1,220,061,306.90 3,712,088,371.38 Sugar Manufacturing Company Ltd. Republic Bank Limited TT$25Mn 25,000,000.00 18,500,000.00 18,500,000.00 25,000,000.00 18,500,000.00 18,500,000.00 Tourism & Industrial Development Company of Trinidad & Tobago Ltd. First Citizens Trust & Assets 115,128,411.00 26,568,095.00 115,128,411.00 26,568,095.00 Tourism Development Company Limited First Citizens Bank Limited US$10,077,566 63,028,121.03 38,116,160.00 0.00 0.00 0.00 First Citizens Bank Limited 52,339,907.88 41,267,632.00 0.00 US$8,377,200 Evolving TecKnologies & Enterprise Development Company Ltd First Caribbean International Bank-TT $220,000,000 TT$190,000.00 115,368,028.91 79,383,792.00 0.00 220,000,000.00 0.00 233,319,538.00 190,000.00 220,190,000.00 0.00 0.00 0.00 233,319,538.00 42 Auditor General’s Report 2009 LETTERS OF COMFORT ISSUED BY THE GOVERNMENT OF THE REPUBLIC OF TRINIDAD AND TOBAGO AS AT 2009 SEPTEMBER 30 TS 35 STATE ENTERPRISE / STATUTORY BOARD LENDING AGENCY LOAN AMOUNT 2008 2009 $ $ 15,000,000.00 11,250,000.00 9,375,000.00 BWIA West Indies Airways Limited First Citizens Trust & Mer.Bank Ltd. TT$15,000,000 T&T Unit Trust Corp. 222,900,000.00 167,175,000.00 0.00 TT$222.9 Mn 237,900,000.00 178,425,000.00 9,375,000.00 National Infrastruture Development Company Ltd. Scotiabank T&T Limited 74,656,800.00 75,307,200.00 64,773,175.87 US$12Mn Citicorp Merchant Bank- TT$344,750,000 plus capitalised Interest National Insurance Property Development Company Limited (NIPDEC) Republic Finance & Merchant Bank Ltd. T T$265,282,896 Scotia Trust & Merchant Bank Ltd. TT$150Mn.
Scotia Trust & Merchant Bank Ltd. TT$50Mn.
RBTT Merchant Bank Ltd. TT$286,252,764 ANSA Merchant Bank TT$37,400,000 Total Investments Division 517,708,429.76 0.00 517,708,429.76 592,365,229.76 75,307,200.00 582,481,605.63 265,282,896.00 143,694,902.25 150,000,000.00 150,000,000.00 0.00 0.00 50,000,000.00 12,500,000.00 0.00 286,252,764.00 260,948,545.19 0.00 37,400,000.00 0.00 37,400,000.00 788,935,660.00 567,143,447.44 37,400,000.00 7,806,538,973.66 3,084,261,854.27 4,702,255,533.09 Grand Total 10,590,094,393.80 5,047,669,880.32 6,715,099,264.18 NOTE: Balances on Letters of Comfort totalling $1,404,010,614.59 as detailed below have crystallised and are now recorded as Debt and Serviced under Head 18 - Ministry of Finance: Tourism Industrial Development Co. Ltd. Caroni (1975) Ltd. Natonal Insurance Property Development Co. Ltd. National Maintenance Training & Security Co. ltd. British West Indian Airways UDECOTT 8,856,031.61 482,285,714.29 489,871,432.79 260,897,435.90 148,600,000.00 13,500,000.00 1,404,010,614.59 43 Auditor General’s Report 2009 PROMISSORY NOTES AS AT 2009 SEPTEMBER 30 TS 36 Foreign Notes USD 15,687,853.50 @ 6.2756 Local Notes Balance as at 2008 September 30 Less: Drawdowns for Fiscal Year 2009 Add: Promissory Notes for Fiscal Year 2009 Translation USD 15,687,853.50 @ 6.2756 2008 USD 15,687,853.50 @ 6.3716 2009 Translation Gain $ ¢ $ ¢ 98,450,693.43 2,311,508,510.29 2,409,959,203.72 50,000.00 IMF TT$ IDA TT$ CDB TT$ IDA TT$ 858,961.08 1,178,523.00 322,515.00 185,961.00 2,545,960.08 2,412,455,163.80 98,450,693.43 99,956,727.36 1,506,033.93 2,413,961,197.73 44 Auditor General’s Report 2009 PROMISSORY NOTES AS AT 2009 SEPTEMBER 30 TS 37 Institution Currency Promissory Amount Dated Drawdown Period Drawdown Amount $ Balance US$ C.D.B.
US$ I.A.D.B.

US$ 198,022.16 26.01.01 M.I.F.

US$ 240,000.00 30.07.97 M.I.G.A.

US$ 219,646.00 12.12.91 C.D.B.

TT$ I.B.R.D.
TT$ - 31.12.98 - - - - - - - - - - 09-2005 - - - - - - - - 31.12.86 - - - - - - - - - - 30.10.72 - 24.12.92 - - - - - - - - Total USD 15,687,853.50 0.00 0.00 0.00 1,475,382.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Total 1,043,071.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Total 828,007.10 817,783.91 2,156,881.00 983,588.00 828,007.10 817,783.91 3,122,330.00 9,209,939.00 6,600,269.00 4,652,390.00 2,432,146.00 94,363.00 231,106.00 409,143.00 322,515.00 33,506,252.02 2,556,928.90 1,223,995.13 3,456,738.75 9,615,092.04 2,941,201.94 17,772,044.00 12,997,350.00 1,563,802.00 22,845,615.06 74,972,767.82 45 Auditor General’s Report 2009 PROMISSORY NOTES AS AT 2009 SEPTEMBER 30 TS 38 Institution Currency Promissory Amount Dated Drawdown Period Drawdown Amount $ Balance US$ I.D.A TT$ I.M.F TT$ 1,178,523.00 27.11.08 2,658,339.38 26.10.72 155,183.00 07.07.03 216,474.00 26.06.06 127,241.00 22.11.06 185,961.00 17.06.09 - - - - - - - - 07-1980 - 12-1980 - - 02.10.75 - 09.05.84 05.03.76 - 29.05.80 07.02.02 - 24.02.04 - - - - - - - - - - - 0.00 0.00 0.00 0.00 0.00 0.00 Total 0.00 0.00 21,310,338.45 0.00 0.00 27,767,887.22 31,287,296.12 707,238,563.60 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Total 1,178,523.00 2,658,339.38 155,183.00 216,474.00 127,241.00 185,961.00 4,521,721.38 111,906,109.75 335,718,329.26 171,892.93 17,080,128.69 1,350,157.80 732,112.78 2,085,886.87 290,948,159.78 556,052,560.38 187,715,619.29 10,403,253.15 5,455,443.46 35,480,198.06 73,366,445.12 120,022,463.24 13,769,846.35 40,124,654.52 397,761,506.64 858,961.08 2,201,003,729.15 Total TTD 2,314,004,470.37 Summary Promissory amount - Promissory amount - TTD 2,314,004,470.37 USD 15,687,853.50 @ 6.3716 2,314,004,470.37 99,956,727.36 2,413,961,197.73 ` ACRONYMS C.D.B.
I.A.D.B.

I.B.R.D.

I.D.A.

I.M.F.

M.I.F.
M.I.G.A Caribbean Development Bank Inter-American Development Bank International Bank for Reconstruction and Development International Development Association International Monetary Fund Multilateral Investment Fund Multilateral Investment Guarantee Agency Closing Rate - 6.3716 as at 2009 September 30 46 Auditor General’s Report 2009 BALANCES OUTSTANDING ON THE BUILD, OPERATE, LEASE AND TRANSFER (BOLT) PROJECTS AS AT 2009 SEPTEMBER 30 TS 39 PROJECT NAME OUTSTANDING BALANCES 2008 2009 $ c $ c Attorney General Head Office … … … … … … … … 57,057,777.63 51,048,522.45 Industrial Court Building … … … … … … … … … 13,598,591.10 10,733,640.80 Ministry of Works and Transport (Head Office) … … … 50,140,495.21 49,165,227.84 Sangre Grande Police Divisional Headquarters … … … 14,735,495.49 13,901,798.79 San Fernando Police Divisional Headquarters … … … 16,521,828.53 15,587,065.56 Temple Court … … … … … … … … … … … 3,023,289.32 0.00 Stadia Project … … … … … … … … … … … 239,259,267.36 218,856,191.18 Trinity Schools … … … … … … … … … … … 71,303,866.66 68,021,218.03 National Library Building Complex (Building) … … … … 193,827,480.74 186,288,543.59 National Library Building Complex (Furniture & Fittings) … … … … 63,033,743.00 57,783,603.02 TOTAL 722,501,835.04 671,385,811.26 Note: BOLT - Build, Operate, Lease and Transfer, as the acronym implies, is an arrangement whereby Financial Institutions finance the construction of buildings or purchase furniture and equipment required on behalf of the Government.
These Financial Institutions enter into lease arrangements with the respective Ministries/Departments and are paid lease rentals and other fees for the management and maintenance of the buildings etc.

while occupied/used by the lessees.

At the end of the lease agreements, ownership is then transferred to the Government.
47 Auditor General’s Report 2009 TS 40 STATEMENT OF BALANCES ON LOANS ASSUMED BY THE GOVERNMENT OF THE REPUBLIC OF TRINIDAD AND TOBAGO AS AT 2009 SEPTEMBER 30 IN RESPECT OF COMPANIES IN WHICH GOVERNMENT HAS/HAD A SHAREHOLDING COMPANY LIABILITY 2008 2009 West Indies Shipping Corporation $ ¢ $ ¢ 11,106,003.64 10,548,538.98 11,106,003.64 10,548,538.98 48 Auditor General’s Report 2009 Summary of Loans from the Funds for Long-Term Development as at 2009 September 30 TS 41 $ ¢ GRAND TOTAL OF LOANS - ALL FUNDS ... ... ... ... ... ... ... ... ... ... 502,709,602.47 AMOUNT REPAID/WRITTEN-OFF AS AT 2009 SEPTEMBER 30 ... ... ... ... ... ... ... ... ... ... 62,491,875.10 BALANCE OUTSTANDING AS AT 2009 SEPTEMBER 30 ... ... ... ... ... ... ... ... ... ... 440,217,727.37 49 Auditor General’s Report 2009 TS 42 Summary of Loans from the Funds for Long-Term Development as at 2009 September 30 F U N D AMOUNT ADVANCED AMOUNT REPAID/WRITTEN OFF AS AT 2009 SEPTEMBER 30 BALANCE OUTSTANDING AS AT 2009 SEPTEMBER 30 $ ¢ $ ¢ $ ¢ (1) Caribbean Integration Fund (2) (3) (4) Port Development Fund Participation in Commercial Enterprises Fund Sport, Culture and Community Development Fund (5) Housing and Resettlement Fund (6) Long Term Development Fund 229,744,663.70 5,100,000.00 15,158,452.00 160,000.00 32,500,000.00 220,046,486.77 7,633,234.40 0.00 5,261,815.39 79,047.00 11,635,181.03 37,882,597.28 222,111,429.30 5,100,000.00 9,896,636.61 80,953.00 20,864,818.97 182,163,889.49 T O T A L: 502,709,602.47 62,491,875.10 440,217,727.37 50 Auditor General’s Report 2009 TS 43 SCHEDULE A SCHEDULE OF SPECIAL FUNDS APPEARING IN THE CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES AS AT 2009 SEPTEMBER 30 TITLE OF FUND FUND BALANCE $ ¢ Provident Fund Provident Fund -Interest Stock Transfer Stamp Duty Fund 1,288,443.75 0.00 3,961.48 Local Trustees of the Sinking Fund 3,819,220,853.51 Savings Bonds Reserve Fund Seized Assets Fund-Ministry of National Security National Disaster Relief Fund Equipment Fund-Trinidad and Tobago Defence Force Welfare Fund-Trinidad
 and Tobago Defence Force Agriculture Disaster Relief Fund 238,520.00 39,225.00 3,657,835.56 1,427,266.71 3,731,758.88 320,132.04 TOTAL 3,829,927,996.93 51 Auditor General’s Report 2009 TS 44 SCHEDULE B SCHEDULE OF TRUST FUNDS APPEARING IN THE CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES AS AT 2009 SEPTEMBER 30 TITLE OF FUND FUND BALANCE $ ¢ Land Assurance Fund Official Receiver Post Office Savings Bank Public Trustee Sugar Industry Labour Welfare Fund Sugar Industry Price Stabilisation Fund Sugar Industry Rehabilitation Fund Suitors Fund and Money-Registrar and Marshall, P.O.S Suitors Fund and Money-Sub-Registrar, San Fernando Suitors Fund and Money-Sub-Registrar, Tobago Trinidad Assurance Companies Ordinance Cane Farmers' Cess Cane Farmers Rehabilitation Board Comptroller of Accounts-In Trust for B & C Deosaran Petroleum Products Subsidy Fund Mortgage re: Diawantee Nandoo 3,314,357.60 146,543.95 12,242,507.54 5,328,822.13 32,835,225.93 506,873.75 4,442,847.32 1,062,987.72 1,104,980.58 88,856.58 225,389.26 188.59 93,104.94 2,000.00 176,272,249.14 2,544.30 TOTAL 237,669,479.33 52 Auditor General’s Report 2009 THE UNEMPLOYMENT FUND Established under Section 14(2) of the Unemployment Levy Act, Chapter 75:03) STATEMENT OF RECEIPTS AND PAYMENTS FOR THE FINANCIAL YEAR 2009 TS 45 SCHEDULE C(i) Previous Year $ ¢ RECEIPTS $ ¢ $ ¢ Board of Inland Revenue Receipts 850,851,915.82 1,892,191,431.91 Less Adjustments (116,241,727.48) 734,610,188.34 (125.00) Less previous year adjustment :- Dishonoured cheque - 1,892,191,306.91 TOTAL LEVY COLLECTED 734,610,188.34 Add: Interest on Cash Balances: 77,111,927.00 Interest received for the financial year 2009 66,365,939.99 Unspent Balances from Municipal Corporations 69,948.41 for accounting periods prior to the financial year 2009 94,041.07 596,259.10 Miscellaneous Receipts 1,969,969,441.42 TOTAL RECEIPTS PAYMENTS 144,072.01 801,214,241.41 - Ministry of Agriculture, Land and Marine Resources 43,967,114.63 204,017,763.18 Ministry of
 Local Government 43,939,516.35 Minstry of Public Utilities and the Environment - - 108,486,615.97 Ministry of Works and Transport 331,516,817.21 Tobago House of Assembly (Payment by the Ministry of Finance to the Tobago House of Assembly to meet expenditure under Unemployment Relief 18,000,000.00 Programme) 17,000,000.00 392,483,931.84 374,443,895.50 TOTAL PAYMENTS 1,595,525,545.92 the financial year 2009 Excess of Receipts over Payments for 2,756,681,393.37 Add: Balance brought forward from 2008 September 30 4,352,206,939.29 Balance as at 2009 September 30 392,483,931.84 408,730,309.57 4,352,206,939.29 4,760,937,248.86 53 Auditor General’s Report 2009 TS 46 SCHEDULE C(ii) THE UNEMPLOYMENT FUND (Established under Section 14(2) of the Unemployment Levy Act, Chapter 75:03) STATEMENT OF ASSETS AND LIABILITIES AS AT 2009 SEPTEMBER 30 Previous Year $ ¢ ASSETS $ ¢ 4,352,206,939.29 Cash 4,760,937,248.86 4,352,206,939.29 4,760,937,248.86 LIABILITIES Balance brought forward from 2,756,681,393.37 2008 September 30 4,352,206,939.29 1,595,525,545.92 for the financial year 2009 408,730,309.57 Add: Excess of Receipts over Payments 4,352,206,939.29 4,760,937,248.86 54 Auditor General’s Report 2009 TS 47 SCHEDULE D(i) $ ¢ 51,701.03 2,312,726.82 4,922,099.88 7,286,527.73 0.00 0.00 0.00 7,286,527.73 154,085,575.75 161,372,103.48 THE ROAD IMPROVEMENT FUND (Established under Section 44 of the Miscellaneous Taxes Act, Chapter 77:01); Repealed by Part V Section 5 of Act #2 of 2006 dated 2006 February 08 Finance Act, 2006; Repealed re CNG - Legal Notice 169 dated 2008 October 10 STATEMENT OF RECEIPTS AND PAYMENTS FOR THE FINANCIAL YEAR 2009 Previous Year $ ¢ RECEIPTS 599,312.25 Total Road Improvement Tax Collected 3,760,324.99 Interest on Cash Balances: Interest received for the financial year 2009 4,589.89 for accounting periods prior to the financial year 2009 Unspent Balances from the Municipal Corporations 4,364,227.13 TOTAL RECEIPTS PAYMENTS 0.00 0.00 0.00 Ministry of Works and Transport
 Ministry of Local Government TOTAL PAYMENTS 4,364,227.13 financial year 2009 Excess of Receipts over Payments for the 149,721,348.62 Add: Balance brought forward from 2008 September 30 154,085,575.75 Balance as at 2009 September 30 Note: Repealing of RIT legislation In the Fiscal Year 2006, Government took the decision to remove the Road Improvement Tax (RIT).
Pursuant to that decision RIT was removed from all liquid vehicular fuels by legislative amendment to Part X of the Miscellaneous Taxes Act, Chapter 77:01 in the Finance Act No.

2 of 2006.

However, the legislation which introduced RIT on Compressed Natural Gas (CNG) was omitted at the time of the repeal.

This anomaly was addressed by Legal Notice 169 dated 2008 October 10 when the RIT component in the price of CNG was removed.
Since the laws, under which the RIT was collected and the RIF was established, have been repealed and there is no other law stating where the balance remaining in the RIF at the date of the abolishment of the RIT should be transferred, the Ministry of Finance has taken steps to approach Cabinet on this matter and is awaiting a decision.
55 Auditor General’s Report 2009 TS 48 SCHEDULE D(ii) THE ROAD IMPROVEMENT FUND (Established under Section 44 of the Miscellaneous Taxes Act, Chapter 77:01) Repealed by Part V Section 5 of Act #2 of 2006 dated 2006 February 08 (Finance Act, 2006) STATEMENT OF ASSETS AND LIABILITIES AS AT 2009 SEPTEMBER 30 Previous Year $ ¢ ASSETS $ ¢ 154,085,575.75 Cash 161,372,103.48 154,085,575.75 161,372,103.48 LIABILITIES Balance brought forward from 2008 September 30 Add: Excess of Receipts over Payments for the financial year 2009 149,721,348.62 4,364,227.13 154,085,575.75 154,085,575.75 7,286,527.73 161,372,103.48 56 Auditor General’s Report 2009 TS 49 SCHEDULE E (i) INFRASTRUCTURE DEVELOPMENT FUND (Established under Section 43(2) of the Exchequer and Audit Act, Chapter 69:01) Legal Notice No.
347 dated 1997 December 29 STATEMENT OF RECEIPTS AND PAYMENTS FOR THE FINANCIAL YEAR 2009 Previous Year $ ¢ RECEIPTS $ ¢ 71,836,590.19 Interest received for the financial year 2009 78,714,682.39 659,309.23 Add: Unspent Balances from the Municipal Corporations for accounting periods prior to the financial year 2009 7,900,000,000.00 Amount transferred from the Consolidated Fund to the Infrastructure Development Fund in the financial year 2009 1,133,499.13 2,800,000,000.00 7,972,495,899.42 TOTAL RECEIPTS 2,879,848,181.52 PAYMENTS 5,329,634,518.11 See Appendix ( i ) 4,952,937,074.64 5,329,634,518.11 TOTAL PAYMENTS 4,952,937,074.64 2,642,861,381.31 Excess of Payments over Receipts the financial year 2009 (2,073,088,893.12) 2,698,967,706.23 Add: Balance brought forward from 2008 September 30 5,341,829,087.54 5,341,829,087.54 Balance as at 2009 September 30 3,268,740,194.42 57 Auditor General’s Report 2009 INFRASTRUCTURE DEVELOPMENT FUND (Established under Section 43(2) of the Exchequer and Audit Act, Chapter 69:01) Legal Notice No.
347 dated 1997 December 29 STATEMENT OF ASSETS AND LIABILITIES AS AT 2009 SEPTEMBER 30 Previous Year $ ¢ 5,341,829,087.54 5,341,829,087.54 ASSETS Cash LIABILITIES TS 50 SCHEDULE E(ii) $ ¢ 3,268,740,194.42 3,268,740,194.42 2,698,967,706.23 Balance brought forward from 2008 September 30 5,341,829,087.54 2,642,861,381.31 for the financial year 2009 Add: Excess of Payments over Receipts 5,341,829,087.54 (2,073,088,893.12) 3,268,740,194.42 58 Auditor General’s Report 2009 TS 51 SCHEDULE F(I) NATIONAL UNION OF GOVERNMENT AND FEDERATED WORKERS TRAINING FUND (Established under Section 43(2) of the Exchequer and Audit Act, Chapter 69:01) Legal Notice No.
280 dated 2004 September 27 STATEMENT OF RECEIPTS AND PAYMENTS FOR THE FINANCIAL YEAR 2009 Previous Year $ ¢ RECEIPTS $ ¢ Amount transferred from the Consolidated Fund to the National Union of Government and Federated Workers 1,000,000.00 Training Fund in the Financial Year 2009 1,000,000.00 80,963.37 Add: Interest on Cash Balances: 1,080,963.37 TOTAL RECEIPTS Interest received for the financial year 2009 74,898.57 1,074,898.57 PAYMENTS 0.00 TOTAL PAYMENTS 0.00 1,080,963.37 Excess of Receipts over Payments for the financial year 2009 1,074,898.57 3,084,877.53 Add: Balance brought forward from 2008 September 30 4,165,840.90 4,165,840.90 Balance as at 2009 September 30 5,240,739.47 59 Auditor General’s Report 2009 TS 52 SCHEDULE F(ii) NATIONAL UNION OF GOVERNMENT AND FEDERATED WORKERS TRAINING FUND (Established under Section 43(2) of the Exchequer and Audit Act, Chapter 69:01) Legal Notice No.
280 dated 2004 September 27 STATEMENT OF ASSETS AND LIABILITIES AS AT 2009 SEPTEMBER 30 ASSETS Previous Year $ ¢ 4,165,840.90 4,165,840.90 Cash LIABILITIES 3,084,877.53 Balance brought forward from 2008 September 30 1,080,963.37 4,165,840.90 Add: Excess of Receipts over Payments for the financial year 2009 $ ¢ 5,240,739.47 5,240,739.47 4,165,840.90 1,074,898.57 5,240,739.47 60 Auditor General’s Report 2009 TS 53 SCHEDULE G(i) GOVERNMENT ASSISTANCE FOR TUITION EXPENSES (GATE) FUND (Established under Section 43(2) of the Exchequer and Audit Act, Chapter 69:01) Legal Notice No.329 dated 2004 December 09 STATEMENT OF RECEIPTS AND PAYMENTS FOR THE FINANCIAL YEAR 2009 Previous Year $ ¢ RECEIPTS 450,000,000.00 Amount transferred from the Consolidated Fund to the Government Assistance for Tuition Expenses (GATE) Fund in the financial year 2009 633,500,000.00 2,652,571.43 Miscellaneous Receipts 6,582,866.60 2,204,147.81 Interest on Cash Balances: Interest received for the financial year 2009 2,247,445.25 454,856,719.24 TOTAL RECEIPTS 642,330,311.85 PAYMENTS 501,632,539.86 Ministry of Science, Technology and Tertiary Education 572,738,917.00 501,632,539.86 TOTAL PAYMENTS 572,738,917.00 (46,775,820.62) Excess of Receipts over Payments for 69,591,394.85 the financial year 2009 82,773,696.13 Add: Balance brought forward from 2008 September 30 35,997,875.51 35,997,875.51 Balance as at 2009 September 30 105,589,270.36 61 Auditor General’s Report 2009 TS 54 SCHEDULE G(ii) GOVERNMENT ASSISTANCE FOR TUITION EXPENSES (GATE) FUND (Established under Section 43(2) of the Exchequer and Audit Act, Chapter 69:01) Legal Notice No.329 dated 2004 December 09 STATEMENT OF ASSETS AND LIABILITIES AS AT 2009 SEPTEMBER 30 Previous Year $ ¢ ASSETS 35,997,875.51 Cash $ ¢ 105,589,270.36 35,997,875.51 105,589,270.36 LIABILITIES 82,773,696.13 Balance brought forward from 2008 September 30 (46,775,820.62) Add: Excess of Receipts over Payments for the financial year 2009 35,997,875.51 35,997,875.51 69,591,394.85 105,589,270.36 62 Auditor General’s
 Report 2009 TS 55 SCHEDULE H(i) GREEN FUND (Finance Act #5 of 2004 dated 2004 January 30 Part VI Section 8(b)) STATEMENT OF RECEIPTS AND PAYMENTS FOR THE FINANCIAL YEAR 2009 Previous Year $ ¢ RECEIPTS $ ¢ 415,687,226.57 Board of Inland Revenue Receipts Less Adjustments 295,131,582.54 (6,627,623.31) 288,503,959.23 31,422,616.64 Interest received for the financial year 2009 25,035,892.82 Add: Interest on Cash Balances: 447,109,843.21 TOTAL RECEIPTS 313,539,852.05 PAYMENTS 0.00 0.00 TOTAL PAYMENTS 447,109,843.21 the financial year 2009 Excess of Receipts over Payments for 0.00 0.00 313,539,852.05 1,146,191,463.53 Add: Balance brought forward from 2008 September 30 1,593,301,306.74 1,593,301,306.74 Balance as at 2009 September 30 1,906,841,158.79 63 Auditor General’s Report 2009 TS 56 SCHEDULE H(ii) $ ¢ 1,906,841,158.79 1,906,841,158.79 GREEN FUND (Finance Act #5 of 2004 dated 2004 January 30 Part VI Section 8(b)) STATEMENT OF ASSETS AND LIABILITIES AS AT 2009 SEPTEMBER 30 ASSETS Previous Year $ ¢ 1,593,301,306.74 Cash 1,593,301,306.74 LIABILITIES 1,146,191,463.53 Balance brought forward from 2008 September 30 1,593,301,306.74 447,109,843.21 for the financial year 2009 313,539,852.05 Add: Excess of Receipts over Payments 1,593,301,306.74 1,906,841,158.79 64 Auditor General’s Report 2009 TS 57 SCHEDULE I(i) CARICOM TRADE SUPPORT FUND (Established under Section 43(2) of the Exchequer and Audit Act, Chapter 69:01) Legal Notice No.
13 dated 2005 January 12 STATEMENT OF RECEIPTS AND PAYMENTS FOR THE FINANCIAL YEAR 2009 Previous Year $ ¢ RECEIPTS $ ¢ 0.00 Amount transferred from the Consolidated 0.00 Fund 919,039.92 Interest on Cash Balances : Interest received for the financial year 2009 919,039.92 TOTAL RECEIPTS 563,702.93 563,702.93 PAYMENTS 0.00 TOTAL PAYMENTS Excess of Receipts over Payments for 919,039.92 the financial year 2009 0.00 0.00 563,702.93 36,661,155.33 Add: Balance brought forward from 2008 September 30 37,580,195.25 37,580,195.25 Balance as at 2009 September 30 38,143,898.18 65 Auditor General’s Report 2009 TS 58 SCHEDULE I(ii) CARICOM TRADE SUPPORT FUND (Established under Section 43(2) of the Exchequer and Audit Act, Chapter 69:01) Legal Notice No.
13 dated 2005 January 12 STATEMENT OF ASSETS AND LIABILITIES AS AT 2009 SEPTEMBER 30 Previous Year $ ¢ ASSETS 37,580,195.25 Cash 37,580,195.25 LIABILITIES $ ¢ 38,143,898.18 38,143,898.18 36,661,155.33 2008 September 30 37,580,195.25 Balance brought forward from 919,039.92 for the financial year 2009 563,702.93 Add: Excess of Receipts over Payments 37,580,195.25 38,143,898.18 66 Auditor General’s Report 2009 TS 59 SCHEDULE J(i) CARICOM PETROLEUM FUND (Established under Section 43(2) of the Exchequer and Audit Act, Chapter 69:01) Legall Notice No.
302 dated 2006 November 23 STATEMENT OF RECEIPTS AND PAYMENTS FOR THE FINANCIAL YEAR 2009 Previous Year $ ¢ RECEIPTS $ ¢ 459,000,000.00 Amount transferred from the Consolidated Fund in the financial year 2009 to the CARICOM Petroleum Fund 172,000,000.00 19,291,197.48 Add: Interest on Cash Balances : Interest received for the financial year 2009 7,707,719.12 478,291,197.48 TOTAL RECEIPTS 179,707,719.12 PAYMENTS 260,646,656.00 Payments for the financial year 2009 702,673,494.78 260,646,656.00 TOTAL PAYMENTS 702,673,494.78 217,644,541.48 Excess of Payments over Receipts for the financial year 2009 (522,965,775.66) 344,964,534.00 Add: Balance brought forward from 2008 September 30 562,609,075.48 562,609,075.48 Balance as at 2009 September 30 39,643,299.82 67 Auditor General’s Report 2009 TS 60 SCHEDULE J(ii) CARICOM PETROLEUM FUND (Established under Section 43(2) of the Exchequer and Audit Act, Chapter 69:01) Legal Notice No.
302 dated 2006 November 23 STATEMENT OF ASSETS AND LIABILITIES AS AT 2009 SEPTEMBER 30 ASSETS Previous Year $ ¢ 562,609,075.48 Cash 562,609,075.48 LIABILITIES $ ¢ 39,643,299.82 39,643,299.82 344,964,534.00 2008 September 30 562,609,075.48 Balance brought forward from 217,644,541.48 for the financial year 2009 (522,965,775.66) Add: Excess of Payments over Receipts 562,609,075.48 39,643,299.82 68 Auditor General’s Report 2009 69 Auditor General’s Report 2009 70 Auditor General’s Report 2009 CHAPTER 1 THE ACCOUNTS OF THE TREASURY 71 Auditor General’s Report 2009 72 Auditor General’s Report 2009 CHAPTER 1 ACCOUNTS OF THE TREASURY 1.01 Under section 4 (3) of the Exchequer and Audit Act, Chapter 69:01 (the Act) the Treasury is required to “so superintend the expenditure of public moneys as to ensure that proper arrangements for accounting to the House for such expenditure are made.” According to the Act, the Treasury means the Minister responsible for Finance and includes such officer or officers in the Ministry of Finance as may be deputed by the Minister to exercise powers and to perform duties under the Act.
1.02 Section 3 of the Exchequer and Audit Act, Chapter 69:01 states: The Minister shall, subject to the Constitution and this Act, “3.
have the management of the Consolidated Fund and the supervision, control and direction of all matters relating to the financial affairs of the State which are not by law assigned to any other Minister.” In this respect the Minister of Finance is responsible for instituting all accounting 1.03 policies, procedures and processes as well as the system of internal controls and is entitled to inspect all records and documents.
Financial Statements 1.04 Section 24 (1)(a) of the Exchequer and Audit Act, Chapter 69:01 as amended by the Financial Year Act, 1998 requires the Treasury to submit certain statements to the Auditor General.

The Treasury Statements received for audit are listed at Appendix 1 of this Report and are referenced as TS 2 to TS 60.

Comments on the examination of these Financial Statements follow.
73 Auditor General’s Report 2009 THE EXCHEQUER ACCOUNT Exchequer Account – ($10,789,303,391.50) The Exchequer Account is the bank account for the Consolidated Fund.

1.05 According to the records of the Comptroller of Accounts as at 2009 September 30 the Exchequer Account was overdrawn by ($10,789,303,391.50) which was an increase of $5,105,943,200.31 or 89.84% when compared figure of ($5,683,360,191.19).
the previous year‟s to The overall increase in the overdrawn balance in the Exchequer Account was due 1.06 to the fact that for the financial year 2009 payments exceeded receipts.
Movements in the Exchequer Account for the financial year 2009 with the 2008 comparatives are as follows: Financial Year Financial Year 2009 2008 $ $ Receipts for the financial year Less: Payments for the financial year 40,222,850,103.19 (45,328,793,303.50) (5,105,943,200.31) (5,683,360,191.19) (10,789,303,391.50) 55,595,458,083.35 (55,522,002,064.28) 73,456,019.07 (5,756,816,210.26) (5,683,360,191.19) Balance brought forward at October 01 Balance as at September 30 The overdrawn balance of ($10,789,303,391.50) as at 2009 September 30 as per 1.07 the Treasury‟s the debit balance of ($11,181,360,747.43) confirmed by the Central Bank of Trinidad and Tobago (TS 2 to TS 7 refer).
reconciled with records was satisfactorily 1.08 stated below and reflected in Chart 1.
Comparative balances as at the end of the financial years 2005 to 2009 are as Year End Balance $ 2005.09.30 (3,045,920,220.84) 2006.09.30 (4,706,682,610.64) 2007.09.30 (5,756,816,210.26) 2008.09.30 (5,683,360,191.19) (10,789,303,391.50) 2009.09.30 74 Auditor General’s Report 2009 Balances on the Exchequer Account at the end of the Financial Years 2005 to 2009 s r a l l o D f o s n o i l l i B 0.000 -2.000 -4.000 -6.000 -8.000 -10.000 -12.000 2005 2006 2007 2008 2009 $(3.046) Bn $(4.707) Bn $( 5.757) Bn ( ( $(5.683) Bn $(10.789) Bn CHART 1 Paragraph 1.08 refers 75 Auditor General’s Report 2009 STATEMENT OF THE PUBLIC DEBT Public Debt - $29,541,647,795.61 1.09 The records of the Treasury showed that at 2009 September 30 the Public Debt was $29,541,647,795.61.
This figure comprises local and external loans as well as loans serviced under Head 18 – Ministry of Finance as shown below.

Comparative figures for the previous financial year are also shown.

2009 2008 $ $ Local Loans 14,877,630,326.20 12,414,623,023.86 External Loans 9,729,260,317.65 9,289,600,146.54 21,704,223,170.40 24,606,890,643.85 Loans Serviced Under Head 18 4,934,757,151.76 0.00 29,541,647,795.61 21,704,223,170.40 Treasury Statements referenced TS 8 to TS 10 refer.
Local Loans - $14,877,630,326.20 There was a net increase in Local Loans of $2,463,007,302.34 or 19.84% over 1.10 the previous year‟s figure.

This was mainly due to five new loans amounting to $4,003,087,920.00 during the financial year 2009, capitalized interest of $14,308,435.85 and foreign exchange adjustment of $3,855,000.00.
1.11 reflected in the records of the Treasury are as follows: Movements in Local Loans for the financial year ended 2009 September 30, as $ Balance as at 2008 October 01 Add: New Loans Interest capitalized on two loans Adjustment to loan incorrectly stated Foreign Exchange Adjustment 12,414,623,023.86 4,003,087,920.00 14,308,435.85 03 3,855,000.00 Sub-Total 16,435,874,379.74 Less: Repayments TOTAL 1,558,244,053.54 14,877,630,326.20 76 Auditor General’s Report 2009 New Loans - $4,003,087,920.00 1.12 Details of the new loans raised by the issue of Bonds are given below: (i) $1,200,000,000.00 (ii) $1,500,000,000.00 (iii) $285,420,920.00 (iv) $648,504,000.00 (v) $141,704,000.00 (vi) $227,459,000.00 - - - - - - 8.25% Fixed Rate Bonds due 2017 issued 2008 July 02 GORTT 7.75% Fixed Rate Bonds due 2024 April 23 – issued 2009 April 23 Series 1, $280,000,000.00, 6.2% Fixed Rate Bonds due 2016 June 30 – issued 2009 June 30 Series 2, 6.4% Fixed Rate Bonds due 2020 June 30 – issued 2009 June 30 Bond A (up to $180Mn) – 8.5% Fixed Rate Bonds due 2034 July 01 – issued 2009 July 01 Bond B (up to $330 Mn) – 8.5% Fixed Rate Bonds due 2034 July 01 – issued 2009 July 01 External Loans - $9,729,260,317.65 1.13 There was an increase in External Loans of $439,660,171.11 or 4.74% over the previous year‟s figure.
A summary of transactions in respect of External Loans is given below: $ Balance as at 2008 October 01 9,289,600,146.54 Add: Receipts for Financial Year 2009 1,033,563,657.77 Foreign Exchange Adjustment 128,930,989.00 10,452,094,793.31 Less: Repayments for Financial Year 2009 (710,288,263.35) Gain -Transfer to Revenue (12,546,212.31) Balance as at 2009 September 30 9,729,260,317.65 77 Auditor General’s Report 2009 Receipts - $1,033,563,657.77 1.14 Receipts under External Loans consisted of: drawdowns on existing loans totalling $749,070,500.29 and a new loan amounting to $284,493,157.48 Foreign Exchange Adjustment - $128,930,989.00 1.15 as a result of changes in the foreign exchange rates.
The amount of $128,930,989.00 represents the net adjustment on external loans Gain - Transfer to Revenue - $12,546,212.31 The figure of $12,546,212.31 represents savings due to the revaluing of pool 1.16 units prior to the commencement of repayment of a loan.

This loan was repaid on 2009 July 15.


Loans serviced under Head 18 – Ministry of Finance - $4,934,757,151.76 1.17 Credits guaranteed by the Government which have crystallized as follows: This figure represents Letters of Comfort issued by the Government and Loans or Loans or Credits Guaranteed Letters of Comfort - - $3,530,746,537.17 $1,404,010,614.59 The comparative figure at the end of the previous financial year was $5,513,784,819.83.
Loans serviced under Head 18 – Ministry of Finance were not shown previously under Public Debt.

1.18 Finance with respect to the above are given at paragraph 1.42 of this Report.

Details of principal and interest payments made under Head 18 – Ministry of Summary of the Public Debt 1.19 summarized at Table 1 below.
The transactions relative to the Public Debt for the financial year 2009 are 78 Auditor General’s Report 2009 SUMMARY OF TRANSACTIONS OF THE PUBLIC DEBT FOR THE FINANCIAL YEAR 2009 Table 1 Local Loans $ External Loans $ Total $ Balance as at 2008 October 01 12,414,623,023.86 9,289,600,146.54 21,704,223,170.40 Add: Adjustments 0.03 0.00 0.03 Receipts for the financial year 2009 4,003,087,920.00 1,033,563,657.77 5,036,651,577.77 Interest Capitalized 14,308,435.85 0.00 14,308,435.85 Foreign Exchange Adjustments 3,855,000.00 128,930,989.00 132,785,989.00 Sub-total 16,435,874,379.74 10,452,094,793.31 26,887,969,173.05 Less: Repayments for the financial year 2009 (1,558,244,053.54) (710,288,263.35) (2,268,532,316.89) Gain – Transfer to Revenue (0.00) (12,546,212.31) (12,546,212.31) TOTAL 14,877,630,326.20 9,729,260,317.65 24,606,890,643.85 Add: Loans serviced under Head 18 Ministry of Finance (Paragraph 1.17) GRAND TOTAL 4,934,757,151.76 29,541,647,795.61 Movements over the Financial Years 2005 to 2009 1.20 depicted in Table 2 and Chart 2 below.
The year end balance of the Public Debt over the Financial Years 2005 to 2009 is 79 Auditor General’s Report 2009 Table 2 THE PUBLIC DEBT BALANCE AS AT THE END OF THE FINANCIAL YEARS 2005 TO 2009 Financial Year End Description Amount 2005 09 30 2006 09 30 2007 09 30 2008 09 30 2009 09 30 Local Loans External Loans Total Loans Local Loans External Loans Total Loans Local Loans External Loans Total Loans Local Loans External Loans Total Loans Local Loans External Loans Loans serviced under Head 18 – Ministry of Finance (See paragraph 1.17 of this Report) $ 9,889,600,301.14 $ 8,373,130,262.82 $18,262,730,563.96 $10,717,692,275.35 $ 7,953,720,919.07 $18,671,413,194.42 $12,819,966,074.63 $ 8,639,277,346.79 $21,459,243,421.42 $12,414,623,023.86 $ 9,289,600,146.54 $21,704,223,170.40 $14,877,630,326.20 $ 9,729,260,317.65 $ 4,934,757,151.76 Total Loans $29,541,647,795.61 80 Auditor General’s Report 2009 Movements in the Public Debt Balances over the Financial Years 2005 to 2009 s n o i l l i B 30 25 20 15 10 5 0 Local Loans External Loans Loans Serviced Under Hd 18 2005 9.890 8.373 2006 10.718 7.954 2007 12.820 8.639 2008 12.415 9.290 Total Loans 18.263 18.672 21.459 21.704 2009 14.878 9.729 4.935 29.542 CHART 2 Paragraph 1.20 refers 81 Auditor General’s Report 2009 CHARGES ON ACCOUNT OF THE PUBLIC DEBT Charges on Account of the Public Debt - $4,952,232,470.70 Charges on Account of the Public Debt comprise principal repayments, interest 1.21 payments and other payments and are accounted for under Head of Expenditure 19 for which a separate Appropriation Account is submitted.
1.22 The composition of the figure of $4,952,232,470.70 is given below.
Principal Repayments $ Local Loans Foreign Loans Total Principal Loan Repayments (a) 292,627,753.54 415,663,652.15 708,291,405.69 Interest Payments Local Loans Foreign Loans Notes, Debentures and Others Total Interest Payments (b) Other Payments Management Expenses Sinking Fund Contributions Discounts and Other Financial Instruments Expenses of Issues Total Other Payments (c) Total (a) + (b) + (c) $ 366,737,812.22 544,564,796.43 2,088,427,918.94 2,999,730,527.59 $ 90,471,871.83 613,010,960.00 538,732,265.78 1,995,439.81 1,244,210,537.42 4,952,232,470.70 1.23 30.33% when compared to the previous financial year.
Expenditure under this Head of Expenditure increased by $1,152,578,506.02 or 1.24 Expenditure for the five financial years 2005 to 2009.
Table 3 shows Charges on Account of the Public Debt as a percentage of Total 82 Auditor General’s Report 2009 Table 3 CHARGES ON ACCOUNT OF THE PUBLIC DEBT AS A PERCENTAGE OF TOTAL EXPENDITURE FOR THE FINANCIAL YEARS 2005 TO 2009 FINANCIAL YEAR TOTAL EXPENDITURE $’000 CHARGES ON ACCOUNT OF THE PUBLIC DEBT $’000 2005 2006 2007 2008 2009 30,633,751 39,295,564 41,538,808 55,459,763 45,328,778 4,776,054 3,390,344 4,278,667 3,799,654 4,952,232 % 15.59 8.63 10.30 6.85 10.93 1.25 Revenue excluding Capital Receipts and Borrowings for the five financial years 2005 to 2009.
Table 4 shows Charges on Account of the Public Debt as a percentage of Total Table 4 CHARGES ON ACCOUNT OF THE PUBLIC DEBT AS A PERCENTAGE OF TOTAL REVENUE (EXCLUDING CAPITAL RECEIPTS AND BORROWINGS) FOR THE FINANCIAL YEARS 2005 TO 2009 (a) (b) (c) (d) FINANCIAL YEAR TOTAL REVENUE (EXCLUDING CAPITAL RECEIPTS AND BORROWINGS) $’000 2005 2006 2007 2008 2009 28,701,235 37,404,187 38,480,823 54,315,320 37,563,986 CHARGES ON ACCOUNT OF THE PUBLIC DEBT $’000 4,776,054 3,390,344 4,278,667 3,799,654 4,952,232 (c) as a Percentage of (b) 16.64 9.06 11.12 7.00 13.18 83 Auditor General’s Report 2009 STATEMENT OF LOANS FROM GENERAL REVENUE REPAYABLE TO THE GOVERNMENT OF TRINIDAD AND TOBAGO Loans From General Revenue $1,756,409,313.96 The figure of $1,756,409,313.96 representing total balance outstanding as at 1.26 2009 September 30, decreased by $1,943,119.65 or 0.11% from the previous year‟s balance of $1,758,352,433.61.
(Treasury Statements referenced TS 11 to TS 15 refer.)
1.27 The figure of $1,756,409,313.96 is made up as follows: $ 1,758,352,433.61 Balance brought forward 2008 October 01 Less: Principal Repayments (1,013,098.37) 1,757,339,335.24 (930,021.28) 1,756,409,313.96 Less: Prior Year Adjustment Principal Repayments - $1,013,098.37 1.28 were made by the following entities: Principal repayments for the financial year 2009 amounting to $1,013,098.37 Name of Entity Amount $ PETROTRIN in respect of Design and 984,783.32 Construction of MTBE plant Government of Belize Trinity Cathedral Prior Year Adjustment - $930,021.28 12,915.15 15,399.90 1,013,098.37 1.29 The above figure represents an amount that was repaid by PETROTRIN in a prior period which was not reflected as a repayment and is being brought to account in this current period.
1.30 according to the various categories.
Table 5 below shows year-end loan balances for the financial years 2005 to 2009 84 Auditor General’s Report 2009 YEAR-END LOAN BALANCES FOR THE FINANCIAL YEARS 2005 TO 2009 Table 5 Financial Year 2005 $ Financial Year 2006 $ Financial Year 2007 $ Financial Year 2008 $ Financial Year Year 2009 $ 79,833,672.97 78,105,987.00 5,067,357.51 1,914,804.60 0.00 1,101,808,362.54 1,506,100,105.71 1,506,018,675.79 1,506,018,675.79 1,506,018,675.79 105,693,888.66 114,466,922.57 123,543,041.66 123,175,090.77 123,159,690.87 63,039.19 127,268,755.43 127,256,462.60 127,243,862.45 127,230,947.30 Category State Controlled Enterprises Statutory Bodies Other Entities Other Governments Total 1,287,398,963.36 1,825,941,770.71 1,761,885,537.56 1,758,352,433.61 1,756,409,313.96 STATEMENT OF REVENUE Total Revenue Collected - $40,164,310,627.06 1.31 the Treasury was $40,164,310,627.06.
Treasury Statement referenced TS 16 refers.

Actual revenue collected for the financial year 2009 as shown by the records of 1.32 classification.

Table 6 also shows comparative figures for the financial year 2008.
Table 6 and Chart 3 show revenue collected for the financial year 2009 by 85 Auditor General’s Report 2009 Table 6 ACTUAL REVENUE COLLECTED BY CLASSIFICATION FOR THE FINANCIAL YEAR 2009 Classification Tax Revenue Non-Tax Revenue Capital Receipts Financing Actual Revenue Collected for the Financial Year 2009 Percentage of Total Revenue $ 31,089,750,124.06 6,475,341,524.17 51,346,885.18 2,547,872,093.65 % 77.41 16.12 0.13 6.34 Actual Revenue Collected for the Financial Year 2008 $ 49,271,765,712.84 5,043,554,672.71 37,589,516.96 1,201,871,235.86 TOTAL 40,164,310,627.06 100.00 55,554,781,138.37 Actual Revenue Collected for the Financial Year 2009 by Classification 16.12% 6.47% Capital Receipts – 0.13% & Financing – 6.34% 77.41% $ Billion Tax Revenue Non-Tax Revenue Capital Receipts & Financing $31.090 $6.475 $2.599 CHART 3 Paragraph 1.32 refers 86 Auditor General’s Report 2009 Comparison of Revenue Collected for the Financial Years 2008 and 2009 1.33 when compared revealed the following: The Actual Revenue for the financial years 2008 and 2009 displayed at Table 6 ● ● ● ● ● There was an overall decrease of $15,391,575,912.64 in revenue collected in the financial year 2009 Tax Revenue decreased by $18,182,015,588.78 Non-Tax Revenue increased by $1,431,786,851.46 There was an increase in Capital Receipts of $13,757,368.22 Borrowings increased by $1,346,000,857.99 1.34 Total Revenue over the financial years 2005 to 2009 Table 7 and Chart 4 show the relationship between Financing (Borrowings) and Table 7 COMPARISON BETWEEN BORROWINGS AND TOTAL REVENUE OVER THE FINANCIAL YEARS 2005 TO 2009 Financial Year Financing (Borrowings) Tax/Non-Tax Revenue and Capital Receipts Total Revenue $’000 $’000 $’000 1,093,493 28,710,366 29,803,859 205,605 37,408,230 37,613,835 1,956,293 38,510,404 40,466,697 1,201,871 54,352,910 55,554,781 2,547,872 37,616,439 40,164,311 2005 2006 2007 2008 2009 Financing (Borrowings) as a percentage of Total Revenue % Ratio of Financing (Borrowings) to Total Revenue 3.67 0.55 4.83 2.16 6.34 1:28 1:183 1:21 1:46 1:15 87 Auditor General’s Report 2009 COMPARISON BETWEEN BORROWINGS AND TOTAL REVENUE OVER THE YEARS 2005 TO 2009 55 50 45 40 35 30 25 20 15 10 5 0 2005 2006 2007 2008 2009 Borrowings Revenue Collected Total Revenue CHART 4 Paragraph 1.34 refers 88 Auditor General’s Report 2009 STATEMENT OF EXPENDITURE Parliamentary Appropriation and Direct Charges on the Consolidated Fund the For totalling 1.35 $44,206,330,762.00 for meeting expenditure for the service of Trinidad and Tobago.
Direct Charges on the Consolidated Fund totalled $7,942,575,966.00.

Particulars of these allocations are detailed below: financial year 2009, Parliament approved funds (i) Appropriation $ Appropriation Act, 2009 – Act No.

19 of 2008 assented to on 2008 October 10 44,206,330,762.00 (ii) Direct Charges on the Consolidated Fund (in accordance with section 112(2) of the Constitution as set out in the Warrants for the financial year 2009) $ Warrant 1st Suppl.

Warrant 870,394,000.00 2nd Suppl.


Warrant 321,397,166.00 Total Parliamentary Appropriation and Direct Charges $ 6,750,784,800.00 1,191,791,166.00 7,942,575,966.00 52,148,906,728.00 1.36 Details of the total approved Estimates for the financial year are given in the Statement of Expenditure.

Treasury Statements referenced TS 17 and TS 18 refer.

During the financial year, the Minister of Finance authorized issues from the Consolidated Fund totalling $52,148,906,728.00.
Limitation of Expenditure 1.37 In accordance with Section 5(2) of the Exchequer and Audit Act, Chapter 69:01, the Minister of Finance, by Circular No.

2 dated 2009 February 20 limited expenditure that could be incurred by Ministries and Departments by $3,701,120,559.00.

Actual Expenditure 1.38 The records of the Treasury show that the actual expenditure for the year ended 2009 September 30 under 41 Heads of Expenditure was $45,328,777,837.76.
The total of the expenditure shown on 41 Appropriation Accounts received in the Auditor General‟s Department at 2010 February 26 was $45,330,404,107.63.

1.39 adjusted provision” of $48,447,786,169.00.

Paragraph 1.37 above is relevant.


Actual Expenditure by Ministries and Departments was within the “revised 89 Auditor General’s Report 2009 1.40 Table 8 highlights those Ministries/Departments where expenditure was in excess of one billion dollars and reflects the percentage of total expenditure incurred by each of these Ministries/Departments.
Table 8 ACTUAL EXPENDITURE IN EXCESS OF $1Bn INCURRED UNDER CERTAIN HEADS OF EXPENDITURE AND REFLECTED AS A PERCENTAGE OF TOTAL EXPENDITURE Head Ministry/Department Actual Expenditure $ Percentage of Total Expenditure 15 18 19 20 22 26 28 39 40 42 43 54 Tobago House of Assembly 1,754,953,769.17 Finance 8,904,114,852.15 Charges on Account of the Public Debt 4,952,232,470.70 Pensions and Gratuities National Security Education Health Public Utilities 1,848,222,221.84 4,605,277,226.51 3,270,529,936.80 3,216,600,981.31 2,306,321,937.34 Energy and Energy Industries 1,213,630,784.64 Local Government Works and Transport Science, Technology and Tertiary Education 56 Social Development Sub-Total 1,367,494,417.97 2,278,870,150.54 1,913,547,903.79 2,411,162,413.02 40,042,959,065.78 Other Ministries and Departments 5,287,445,041.85 3.87 19.64 10.93 4.08 10.16 7.22 7.10 5.09 2.68 3.02 5.03 4.22 5.31 88.35 11.65 Total 45,330,404,107.63 100.00 The figure of $8,904,114,852.15 shown as expenditure under Head 18 – 1.41 Ministry of Finance includes transfers totalling $3,922,000,000.00 in respect of the under mentioned: 90 Auditor General’s Report 2009 ● Infrastructure Development Fund - $2,800,000,000.00 ● Training Fund – Daily Rated Workers - $1,000,000.00 ● Government Assistance for Tuition Expenses (GATE)Fund - $633,500,000.00 ● CARICOM Petroleum Fund - $50,000,000.00 ● Accident Victims Compensation Fund - $137,500,000.00 ● First Citizens Bank Limited - Increase in Share Capital - $300,000,000.00 The figure also 1.42 totalling $1,188,287,402.26 in respect of Letters of Comfort issued by the Government and Loans or Credits guaranteed by the Government which have crystallized and are being serviced under Head 18.
Details of these payments during the financial year 2009 are reflected in Table 9 below.
includes amounts of principal and interest 91 Auditor General’s Report 2009 Table 9 PAYMENTS IN RESPECT OF LETTERS OF COMFORT ISSUED BY THE GOVERNMENT AND LOANS OR CREDITS GUARANTEED BY THE GOVERNMENT WHICH HAVE CRYSTALLIZED State Enterprise/ Statutory Board Loans/Credits Guaranteed $ Letters of Comfort $ Interest Payments $ Principal Repayments $ Tourism Industrial Development Company Limited Caroni (1975) Limited Taurus Services Limited First Citizens Holdings Limited Urban Development Corporation of Trinidad and Tobago Limited National Maintenance, Training and Security Company Limited National Insurance Property Development Company Limited B.W.I.
A.
West Indies Airways Limited TOTAL 3,530,746,537.17 1,404,010,614.59 499,474,650.99 688,812,751.27 92 Auditor General’s Report 2009 Revenue compared with Expenditure financial year 2009 exceeded 1.43 Expenditure of $45,328,777,837.76 according to the records of the Treasury for revenue collected of $40,163,205,225.73 by the $5,165,572,612.03.
A comparison between Total Revenue and Total Expenditure and the surplus/(deficit) over the five financial years 2005 to 2009 is shown below at Table 10 and Chart 5.
Table 10 COMPARISON BETWEEN TOTAL REVENUE AND TOTAL EXPENDITURE FOR THE FINANCIAL YEARS 2005 TO 2009 Financial year Total Revenue $ Total Expenditure $ Surplus/(Deficit) $ 29,803,859,194.04 30,633,750,515.67 (829,891,321.63) 37,613,834,894.12 39,295,563,742.53 (1,681,728,848.41) 40,466,697,254.48 41,538,807,838.32 (1,072,110,583.84) 55,554,781,138.37 55,459,762,820.85 95,018,317.52 40,163,205,225.73 45,328,777,837.76 (5,165,572,612.03) Comparison between Total Revenue and Total Expenditure for the Financial Years 2005 to 2009 2005 2006 2007 2008 2009 s r a l l o D f o s n o i l l i B 60 50 40 30 20 10 0 2005 2006 2007 2008 2009 Total Revenue Total Expenditure CHART 5 Paragraph 1.43 refers 93 Auditor General’s Report 2009 STATEMENT OF LOANS OR CREDITS GUARANTEED BY THE GOVERNMENT OF TRINIDAD AND TOBAGO Maximum Guaranteed - $18,063,424,921.91 Treasury Statements referenced TS 19 1.44 total of $18,063,424,921.91 as Loans or Credits Guaranteed by the Government of Trinidad and Tobago as at 2009 September 30. to TS 24 reflect a 1.45 as follows: Four new loans were guaranteed by the Government for the financial year 2009 $ Public Transport Service Corporation (PTSC) 93,645,285.79 Water and Sewerage Authority (WASA) 300,000,000.00 Trinidad and Tobago Housing Development Corporation (HDC) National Insurance Property Development Company Limited (NIPDEC) 500,000,000.00 682,000,000.00 1.46 WASA and NIPDEC.
At the time of the audit, documents were not presented for loans guaranteed for 94 Auditor General’s Report 2009 CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES ASSETS INVESTMENTS - $105,848,883.29 1.47 The balance on Investments at 2009 September 30 stood at $105,848,883.29.

This represented a decrease of $2,016,098.87 or 1.9% when compared to the previous year‟s figure of $107,864,982.16.
Investments comprised the following four categories: 2009 09 30 $ 2008 09 30 $ (a) (b) (c) (d) General (Treasury Deposits) Special Funds Trust Funds Investment Consolidated Fund 12,455,599.56 72,638,340.80 18,147,833.75 2,607,109.18 12,014,740.58 75,049,740.98 18,193,391.42 2,607,109.18 TOTAL 105,848,883.29 107,864,982.16 General (Treasury Deposits) - $12,455,599.56 1.48 These Investments comprise fixed deposits held at the Central Bank of Trinidad and Tobago and funds in money market accounts at the Trinidad and Tobago Unit Trust Corporation (TTUTC).
The Investments were held on behalf of the undermentioned: 2009 09 30 $ 2008 09 30 $ Administrator General Pool Betting Deposits (a) (b) (c) Ministry of Energy & Energy Industries 1,202,265.52 1,168,887.36 1,350,000.00 1,350,000.00 9,903,334.04 9,495,853.22 TOTAL 12,455,599.56 12,014,740.58 1.49 The reasons for the change from the previous year were as follows: During the financial year 2009 interest of $35,703.99 was earned on an investment of $635,067.94 at the TTUTC with respect to the Administrator General.
There was also a withdrawal of $2,325.83 from the TTUTC.

There was an increase of $407,480.82 in the figure for Ministry of Energy & Energy Industries which represented capitalized interest.
Special Funds - $72,638,340.80 1.50 the previous year are as shown below: The composition of the figure of $72,638,340.80 and comparative amounts for 95 Auditor General’s Report 2009 (a) (b) (c) Provident Fund Local Trustees of the Sinking Fund Trinidad &Tobago Defence Force Welfare Fund 2009 09 30 $ 2008 09 30 $ 800,000.00 800,000.00 69,136,851.73 71,692,046.38 2,701,489.07 2,557,694.60 TOTAL 72,638,340.80 75,049,740.98 1.51 Local Trustees of the Sinking Fund as a result of the following: There was an overall decrease of $2,555,194.65 in the amount shown for the Redemption of 10.00% Bonds which matured on 2008 October 26 with a market value of $5,391,617.00; Net appreciation of $1,098,132.60 on revaluation of securities; Yen interest of $29,933.73 which was re-invested, and Foreign exchange appreciation of $1,708,356.02.
The figure of $69,136,851.73 relating to Local Trustees of the Sinking Fund is 1.52 understated by $886,270.00, as a result of an Investment of EC$700,000.00 in the Government of Dominica Treasury Bills being stated as TT$700,000.00 instead of TT$1,586,270.00.

The increase in the Trinidad and Tobago Defence Force Welfare Fund of 1.53 $143,794.47 represents interest earned and reinvested in the TT Dollar Income Fund at the TTUTC.
Trust Funds - $18,147,833.75 1.54 The figure of $18,147,833.75 represents amounts invested in mutual funds, fixed deposits, fixed rate bonds and foreign securities.
Details of the composition of the balance as at 2009 September 30, and comparative figures at the end of the previous financial year are as follows: (a) Post Office Savings Bank (b) Public Trustee (c) Sugar Industry Rehabilitation Fund (d) Sugar Industry Price Stabilization Fund (e) Trinidad Assurance Company Limited (f) Cane Farmers‟ Rehabilitation Fund (g) Sugar Industry Labour Welfare Fund 2009 09 30 $ 8,509,597.95 4,254,198.80 140,000.00 164,022.00 50,015.00 30,000.00 5,000,000.00 2008 09 30 $ 8,509,597.95 4,299,756.47 140,000.00 164,022.00 50,015.00 30,000.00 5,000,000.00 TOTAL 18,147,833.75 18,193,391.42 1.55 $45,557.67 from the previous year‟s figure as a result of the following: The investments relating to the Public Trustee showed a net decrease of 96 Auditor General’s Report 2009 (i) (ii) (iii) (iv) purchase of additional units at the TTUTC to the value of $138,400.00; withdrawal of units valued at $181,373.00; redemption of 10.00% Bonds valued at $2,600.78 which matured on 2008 October 26, and appreciation of 10.00% Bonds by $16.11.
Investment Consolidated Fund - $2,607,109.18 1.56 The balance on this Fund as at 2009 September 30 has remained unchanged from the previous year‟s figure and is comprised mainly of fixed deposits with the Central Bank of Trinidad and Tobago.

Valuation of Investments 1.57 as follows: The Investments totalling $105,848,883.29 were valued as at 2009 September 30 Local investments were valued at market rate.
Investments held at the Central Bank of Trinidad and Tobago and the Trinidad and Tobago Unit Trust Corporation were valued at cost.

Yen investment was revalued at the exchange rate at the year end.

ADVANCES - $199,010,796.46 1.58 and the balance on the Advances Fund of $197,390,913.99.
The figure of $199,010,796.46 comprises Treasury Deposits of $1,619,882.47 Treasury Deposits - $1,619,882.47 1.59 2009 September 30 as a result of the following: Treasury Deposits totalling $1,619,882.47 represents amounts due to the State at Advances made to other Governments and Administrations 2009 09 30 $ 2008 09 30 $ 1,252,786.40 1,286,669.97 Advances in respect of payments made on behalf of other Governments 367,096.07 639,179.87 Other (Sugar Industry Labour Welfare Committee) 0.00 500,000.00 TOTAL 1,619,882.47 2,425,849.84 97 Auditor General’s Report 2009 There was a decrease of $805,967.37 or 33.23% from the previous year‟s balance 1.60 of $2,425,849.84.
Part of this decrease is accounted for by the retirement of $500,000.00 which was advanced to the Sugar Industry Labour Welfare Committee to make housing loans to sugar workers and cane farmers.

Advances Fund - $197,390,913.99 The figure of $197,390,913.99 represents balances outstanding on Motor Vehicle 1.61 Loans, Computer Loans and Other Loans made to public officers as well as amounts held as Irredeemable Imprests in accordance with Instruction 178 of the Financial Instructions, 1965.
1.62 year‟s figure of $172,390,147.61.
The figure showed an increase of $25,000,766.38 or 14.51% over the previous 1.63 for the previous year are shown below: The composition of the balance as at 2009 September 30 and comparative figures 2009 09 30 2008 09 30 $ $ Motor Vehicle Loans Computer Loans Irredeemable Imprests Other Advances TOTAL 153,652,114.06 2,371,745.01 40,075,042.60 1,292,012.32 197,390,913.99 150,421,471.91 2,314,247.99 18,583,512.71 1,070,915.00 172,390,147.61 Contingencies Fund $0.00 1.64 Fund during the financial year as under: Two amounts totalling $2,437,000.00 were advanced from the Contingencies (i) (ii) Financial Assistance to the Republic of Honduras and the Republic of Guatemala in the aftermath of devastation caused by heavy rainfall Allocation under Diego Martin Regional Corporation for additional services for emergency cleaning exercises during the severe rainy season in 2008 TOTAL $ 1,270,000.00 1,167,000.00 $ 2,437,000.00 These amounts were retired during the year resulting in a Nil balance at the year end.
98 Auditor General’s Report 2009 CASH AND BANK - $6,888,658,953.57 1.65 Bank when compared with the balance at the end of the previous year.

There was an overall reduction of $6,817,772,443.17 in the figure for Cash and 1.66 Statement of Assets and Liabilities.

Treasury Statement referenced TS 25 refers.


The composition of the figure for Cash and Bank is given on the Consolidated Exchequer Account – ($ 10,789,303,391.50) 1.67 Comments on this account have been included at paragraphs 1.05 to 1.08 of this Report.

The Exchequer Account is the bank account for the Consolidated Fund.

Treasury Deposits Account - $7,125,279,210.01 1.68 Treasury Deposits Account is the asset account for Treasury Deposits.
Receipts of Treasury Deposits are placed in this account and authorized payments are made from this account.

1.69 Treasury Deposits Account when compared to the previous year‟s figure of $7,016,839,703.41.

There was an increase of $108,439,506.60 or 1.55% in the balance on the The balance according to the records of the Treasury of $7,125,279,210.01 was 1.70 satisfactorily reconciled with the balance according to the records of Central Bank of Trinidad and Tobago of $5,538,619,113.05.
Treasury Funds Account - $259,596,055.64 1.71 Contingencies Fund and Advances Fund.

The Treasury Funds Account is the repository for all receipts pertaining to the 1.72 previous year‟s figure of $284,596,822.02.

There was a decrease of $25,000,766.38 or 8.79% when compared to the 1.73 debit balance of ($437,395,855.49) confirmed by the Central Bank of Trinidad and Tobago.
The figure of $259,596,055.64 at 2009 September 30 was reconciled with the Treasury Suspense Account - $6,453,756.52 1.74 The Treasury Suspense Account is a clearing account into which all monies collected on behalf of the Government of Trinidad & Tobago are deposited before being allocated to the other respective bank accounts.

1.75 or 12.13% when compared to the previous year‟s figure of $5,755,778.18.
The balance as at 2009 September 30 of $6,453,756.52 increased by $697,978.34 1.76 $4,270,740,721.64 confirmed by the Central Bank of Trinidad and Tobago.
The figure of $6,453,756.52 was reconciled with the credit balance of 99 Auditor General’s Report 2009 Unemployment Fund - $4,760,937,248.86 Road Improvement Fund - $161,372,103.48 Infrastructure Development Fund - $3,268,740,194.42 NUGFW Training Fund - $5,240,739.47 Government Assistance For Tuition Expenses Fund - $105,589,270.36 Green Fund - $1,906,841,158.79 CARICOM Trade Support Fund - $38,143,898.18 CARICOM Petroleum Fund - $39,643,299.82 1.77 corresponding Funds.
The above amounts represent the balances on the various bank accounts for the Exchequer Suspense Account - $125,409.52 1.78 The Exchequer Suspense Account is an intermediary account into which collections by cashiers from the Comptroller of Accounts, District Revenue Offices and Central Administrative Services, Tobago (with respect to Tobago House of Assembly collections) are lodged before being transferred to the Treasury Suspense Account.
The balance represents mainly amounts deposited by the Tobago House of Assembly totalling $125,731.47 and other minor adjustments.

LIABILITIES DEPOSITS - $7,210,663,926.26 1.79 The figure of $7,210,663,926.26 represents monies held on deposit as at 2009 September 30.

The composition of the figure at 2009 September 30 and comparative figures at the previous year end are shown below.
2009 09 30 2008 09 30 $ $ Treasury Deposits (General) 3,143,066,450.00 Special Funds 3,829,927,996.93 Trust Funds 237,669,479.33 TOTAL 7,210,663,926.26 2,389,145,534.36 4,483,519,468.86 232,381,482.68 7,105,046,485.90 Treasury Deposits (General) - $3,143,066,450.00 1.80 Treasury Deposits (General) are amounts held by the Treasury pending application for repayment in accordance with the purposes for which the deposits were made.
The amount of $3,143,066,450.00 is the total of deposits still on hand at the end of the financial year 2009.
100 Auditor General’s Report 2009 1.81 comparative figures at the end of the financial year 2008 is as follows: The composition of Treasury Deposits (General) at 2009 September 30 with 2009 09 30 $ 2008 09 30 $ General Magistrates‟/High Court Maintenance Payments by Other Governments and Administrations 3,140,903,145.23 679,395.06 2,388,615,155.61 705,205.20 1,483,909.71 (174,826.45) TOTAL 3,143,066,450.00 2,389,145,534.36 1.82 There was an increase of $753,920,915.64 in Treasury Deposits (General) of which $752,287,989.62 or 99.8% represented an increase in General Deposits.
The increase under General Deposits was mainly due to the increase of $691,329,014.18 under the account – Production Sharing Contracts.

Special Funds - $3,829,927,996.93 1.83 Consolidated Statement of Assets and Liabilities.

Treasury Statement referenced TS 43 refers.

The composition of the figure of $3,829,927,996.93 is given at Schedule A to the 1.84 There was a net decrease of $653,591,471.93 or 14.58% from the balance of $4,483,519,468.86 at the end of the previous financial year.
Some comments on those accounts reflecting movement during the financial year are given below.

Provident Fund – $1,288,443.75 1.85 There was a net decrease of $171,211.05 in this Fund due to the fact that contributions to the Fund and interest earned were less than the total withdrawals from the Fund.

Payments amounting to $228,370.42 were made to three depositors who retired during the financial year 2009.
1.86 Financial Statements of the Provident Fund for the financial year ended 2009 September 30 were received in the Auditor General‟s Department on 2010 January 29.

A separate audit report is submitted in respect of these financial statements.

Local Trustees of the Sinking Fund - $3,819,220,853.51 There was a net decrease of $653,563,675.35 or 14.6% from the previous year‟s 1.87 figure of $4,472,784,528.86.

This was due to an excess of payments over receipts.
Three securities amounting to $1,274,819,611.20 were redeemed during the year.

The balance in this Fund was understated by $886,270.00 as a result of an 1.88 investment of EC$700,000.00 Government of Dominica Treasury Bills being stated as TT$700,000.00 instead of TT$1,586,270.00.

101 Auditor General’s Report 2009 Savings Bond Reserve Fund - $238,520.00 1.89 Bondholders.
This Fund decreased by $380.00 which represented interest payments to Welfare Fund – Trinidad and Tobago Defence Force - $3,731,758.88 1.90 reinvested in a money market fund at a financial institution.

The increase of $143,794.47 or 4% in this Fund represents interest earned and Trust Funds - $237,669,479.33 1.91 Treasury Statement referenced TS 44 refers.

The figure of $237,669,479.33 represents the total of balances on 16 Funds.
1.92 There was an overall increase of $5,287,996.65 or 2.28% over the previous year‟s figure of $232,381,482.68.

This was due largely to increases in the Sugar Industry Labour Welfare Fund and the Petroleum Products Subsidy Fund in which there were increases of $3,237,480.05 and $1,842,080.38 respectively.

FUNDS – ($17,145,292.94) 1.93 totalling $10,738,007,913.38 on ($10,755,153,206.32) on the Consolidated Fund.
The figure of ($17,145,292.94) represents the difference between balances the negative balance of several Funds and Unemployment Fund - $4,760,937,248.86 1.94 The balance on the Unemployment Fund showed an increase of $408,730,309.57 or 9.4% over the previous year‟s balance.
This was due to an excess of receipts over payments for the financial year 2009 as follows: Receipts $ Levy collected for 2009 Interest on cash balances Unspent balances from a Municipal Corporation Miscellaneous receipts Payments Ministry of Agriculture, Land and Marine Resources Ministry of Works and Transport Ministry of Finance re Tobago House of Assembly Net Increase 7 34,610,188.34 66,365,939.99 94,041.07 144,072.01 801,214,241.41 43,967,114.63 331,516,817.21 17,000,000.00 392,483,931.84 408,730,309.57 102 Auditor General’s Report 2009 1.95 Movements in the Unemployment Fund were as follows: Balance b/f from 2008 October 01 Add: Receipts for 2009 Less: Payments for 2009 $ 4,352,206,939.29 801,214,241.41 5,153,421,180.70 (392,483,931.84) TOTAL 4,760,937,248.86 Treasury Statements referenced TS 45 and TS 46 refer.
Road Improvement Fund - $161,372,103.48 1.96 of $154,085,575.75.

Receipts for the financial year 2009 comprised the following: The Fund showed an increase of $7,286,527.73 over the previous year‟s balance Tax collected on CNG Interest on cash balances Unspent balances from Municipal Corporations for previous years $ 51,701.03 2,312,726.82 4,922,099.88 Treasury Statements referenced TS 47 and TS 48 refer.
1.97 The Road Improvement Fund ceased to be operational since 2006 February 08 when Part X of the Miscellaneous Taxes Act was repealed by Section 5 Part V of the Finance Act 2006 (Act No.2 of 2006).

However, monies continued to be collected and remitted to the Treasury.

By Legal Notice No.

169 dated 2008 October 10, the Road Improvement Tax component in the price of Compressed Natural Gas (CNG) was removed.

(Note 4 to the Accounts at TS 27 is relevant).


Infrastructure Development Fund - $3,268,740,194.42 1.98 The Fund decreased by $2,073,088,893.12 or 38.8% from the previous year‟s figure of $5,341,829,087.54.

Receipts into the Fund totalling $2,879,848,181.52 comprised the following: Interest earned for 2009 Unspent balances from two Municipal Corporations Transfers from the Consolidated Fund $ 78,714,682.39 1,133,499.13 2,800,000,000.00 1.99 referenced TS 49 and TS 50 refer.
Expenditure from the Fund totalled $4,952,937,074.64.

Treasury Statements 103 Auditor General’s Report 2009 National Union of Government and Federated Workers (NUGFW) Training Fund - $5,240,739.47 1.100 The National Union of Government and Federated Workers (NUGFW) Training Fund was established under Section 43(2) of the Exchequer and Audit Act, Chapter 69:01.

(Legal Notice No.

280 dated 2004 September 27 refers.)

1.101 with effect from 2004 October 01.


The Chief Personnel Officer was appointed Administering Officer for this Fund 1.102 year‟s figure of $4,165,840.90 due to the following: The Fund showed an increase of $1,074,898.57 or 25.8% over the previous An amount of $1,000,000.00 which was transferred from the Consolidated Fund to the NUGFW Training Fund in the financial year 2009, and Interest on cash balances amounting to $74,898.57 which was received for the financial year 2009.
1.103 Statements referenced TS 51 and TS 52 refer.

There were no withdrawals from the Fund in the financial year 2009.

Treasury Government Assistance for Tuition Expenses (GATE) Fund - $105,589,270.36 1.104 The Government Assistance for Tuition Expenses (GATE) Fund was established under Section 43(2) of the Exchequer and Audit Act, Chapter 69:01 (Legal Notice No.

329 dated 2004 December 09 refers.)


1.105 The balance in the Fund of $105,589,270.36 at 2009 September 30 increased by $69,591,394.85 or 193.32% when compared to the balance at 2008 September 30 of $35,997,875.51 due to an excess of receipts over payments for the financial year 2009.

Treasury Statements referenced TS 53 and TS 54 refer.
1.106 Movements in the GATE Fund for the financial year 2009 were as follows: $ Balance b/f at 2008 October 01 Total receipts for financial year 2009 Total payments for financial year 2009 Balance as at 2009 September 30 35,997,875.51 642,330,311.85 678,328,187.36 (572,738,917.00) 105,589,270.36 104 Auditor General’s Report 2009 Green Fund - $1,906,841,158.79 1.107 The Green Fund was established under section 65(1) of the Miscellaneous Taxes Act (the Act).
According to section 64 of the Act, the purpose of the Fund is to financially assist organizations and community groups that are primarily engaged in activities related to the remediation, reforestation and conservation of the environment.

1.108 Levy in accordance with section 62 of the Act.

The Board of Inland Revenue is charged with the collection of the Green Fund 1.109 19.68% over the previous year‟s balance.
The increase is accounted for as follows: The figure of $1,906,841,158.79 represents an increase of $313,539,852.05 or (i) Net receipts from the Board of Inland Revenue of $288,503,959.23 in respect of the Green Fund Levy, and (ii) Interest on cash balances amounting to $25,035,892.82 1.110 Treasury Statements referenced TS 55 and TS 56 refer.

There were no withdrawals from the Fund during the financial year 2009.

CARICOM Trade Support Fund - $38,143,898.18 1.111 Exchequer and Audit Act, Chapter 69:01.
(Legal Notice No.

13 dated 2005 January 12 refers.)

The CARICOM Trade Support Fund was established under Section 43(2) of the 1.112 conditions on the economies of the Member States and to improve regional trade.

The purpose of the Fund is to alleviate the adverse impact of the recessionary The balance in the Fund at 2009 September 30 was $38,143,898.18, an increase 1.113 of $563,702.93 or 1.5% over the previous year‟s figure of $37,580,195.25.

This represented interest for the financial year 2009.
1.114 Statements referenced TS 57 and TS 58 refer.

No withdrawals were made from the Fund for the financial year 2009.
Treasury CARICOM Petroleum Fund - $39,643,299.82 1.115 Cabinet in 2006 September agreed, inter alia, “to the creation of a CARICOM Petroleum Fund under section 43(2) of the Exchequer and Audit Act, Chapter 69:01 to provide relief to CARICOM States in accordance with the criteria agreed to between the Heads of Government and the CARICOM Secretariat.” The criteria agreed to, according to information provided, are poverty alleviation, 1.116 disaster mitigation, disaster recovery efforts in emergency cases, national security and infrastructure development programmes in the OECS in very special circumstances.
105 Auditor General’s Report 2009 This Fund decreased by $522,965,775.66 or 93% from the previous year‟s figure.

1.117 Receipts into the Fund for the financial year 2009 totalled $179,707,719.12.

This figure comprised transfers from the Consolidated Fund amounting to $172,000,000.00 and interest earned on cash balances of $7,707,719.12.

1.118 Payments made from the Fund for 2009 amounted to $702,673,494.78, resulting in the balance at 2009 September 30 being $39,643,299.82.
Four payments totalling $424,892,180.00 did not appear to be in keeping with the purpose of the Fund.

These are as follows: (1) $1,889,820.00 – To the CARICOM Secretariat – To advance the preparatory work for the Strategic Plan for Regional Development (SPRD), that was mandated by the CARICOM Heads of Government at their 28th Meeting in Bridgetown, Barbados.
(2) $11,349,360.00 – To the Government of Guyana – In support of an application made by that country for a one-off payment to fill a shortfall in counterpart contributions under the Caribbean Multilateral Clearing Facility, in keeping with the requirements of Guyana‟s E-HIPC Programme.

(3) $94,578,000.00 – To the Government of Guyana – For the benefit of the CL Financial Group subsidiaries based in Guyana.
(4) $317,075,000.00 – To CL Financial Group Subsidiaries – For the benefit of the CL Financial Group subsidiaries based in the OECS.

1.119 Treasury Statements referenced TS 59 and TS 60 refer.

Advances Fund - $351,500,000.00 This Fund consists of amounts set aside from the Consolidated Fund to provide 1.120 loans to public officers for certain purposes as well as to fund irredeemable imprests.

Movements in the Fund are reflected on the asset side of the Statement of Assets and Liabilities.
1.121 There were no changes to the Fund amount for the financial year 2009.

1.122 were not produced for audit.

Honour certificates in respect of Irredeemable Imprests totalling $1,105,000.00 Contingencies Fund -$100,000,000.00 1.123 Exchequer and Audit Act, Chapter 69:01 to defray unforeseen expenditure.

The Contingencies Fund was established in accordance with section 16 (1) of the By Legal Notice No.
203 dated 2006 September 21, the previous authorized limit 1.124 of $25,000,000.00 for the Contingencies Fund was increased to $100,000,000.00.

The value of the Fund remained unchanged for the financial year 2009.

106 Auditor General’s Report 2009 Amounts totalling $2,437,000.00 were advanced from the Fund in the financial 1.125 year 2009.

All advances made in the financial year were retired.

Note 22 of the Notes to the Accounts at TS 31 refers.
Consolidated Fund – ($10,755,153,206.32) 1.126 The balance on the Consolidated Fund of ($10,755,153,206.32) as at 2009 September 30 increased by ($5,105,943,200.31) or 90.38% when compared to the balance as at 2008 September 30 of ($5,649,210,006.01).
1.127 year 2009 of ($5,164,467,210.70) and net adjustments of $58,524,010.39 as follows: This increase was due to an excess of expenditure over revenue for the financial Revenue for the financial year 2009 Less: Expenditure for the financial year 2009 Add: Unpaid cheques for 2007/2008 written back Less: Prior year‟s adjustments $ 40,164,310,627.06 (45,328,777,837.76) (5,164,467,210.70) 61,401,805.02 (2,877,794.63) (5,105,943,200.31) 1.128 follows: Movements in the Consolidated Fund for the financial year 2009 were as $ Balance as at 2008 October 01 (5,649,210,006.01) Add: Excess of Expenditure over Revenue Add: Net Adjustments (5,164,467,210.70) (10,813,677,216.71) 58,524,010.39 Balance as at 2009 September 30 (10,755,153,206.32) Treasury Statement referenced TS 26 refers.
107 Auditor General’s Report 2009 STATEMENT OF LOANS FROM THE FUNDS FOR LONG TERM DEVELOPMENT Loans from the Funds for Long Term Development - $440,217,727.37 1.129 The Statement of Loans from the Funds for Long Term Development as at 2009 September 30 reflected balances totalling $440,217,727.37.

Treasury Statements referenced TS 41 and TS 42 refer.
1.130 There was a decrease of $6,566,720.38 or 1.47% from the previous year‟s balance of $446,784,447.75 as a result of principal repayments totalling $9,868,353.73, and an increase of $3,301,633.35 due to the conversion of a United States dollar denominated loan at the exchange rate at the year end.

The figure of $440,217,727.37 comprises balances on loans under several Funds 1.131 as shown below.
$ Caribbean Integration Fund Government of St. Vincent 3,215,756.04 Government of Guyana 218,895,673.26 Port Development Fund Port Authority of Trinidad and Tobago 5,100,000.00 Participation in Commercial Enterprises Fund Trinidad and Tobago Mortgage Finance Company Limited 9,896,636.61 Sport, Culture and Community Development Fund Naparima Star Lodge and Pride of Naparima Lodge 80,953.00 Housing and Resettlement Fund Trinidad and Tobago Mortgage Finance Company Limited 20,864,818.97 Long-Term Development Fund Trinidad and Tobago Mortgage Finance Company Limited 182,163,889.49 TOTAL 440,217,727.37 1.132 Total repayments for the financial year 2009 amounted to $9,868,353.73 and were made by the Caribbean Development Bank ($661,876.89), the Government of Guyana ($2,608,221.97) and the Trinidad and Tobago Mortgage Finance Company Limited ($6,598,254.87).
108 Auditor General’s Report 2009 109 Auditor General’s Report 2009 110 Auditor General’s Report 2009 CHAPTER 2 ACCOUNTS OF ACCOUNTING OFFICERS 111 Auditor General’s Report 2009 112 Auditor General’s Report 2009 CHAPTER 2 ACCOUNTS OF ACCOUNTING OFFICERS EXPENDITURE Parliamentary Approval Appropriation 2.01 Parliament, by means of the Appropriation Act, 2009 (Act No.
19 of 2008) which was assented to on 2008 October 10, approved an amount of $44,206,330,762.00 for meeting expenditure for the service of Trinidad and Tobago for the financial year ending 2009 September 30.

Direct Charges 2.02 The Minister of Finance, by Warrant dated 2008 September 29, authorized the withdrawal from the Consolidated Fund for the financial year ending 2009 September 30, sums not exceeding in aggregate the sum of $6,750,784,800.00 for the service of Trinidad and Tobago.
Subsequent to the Warrant dated 2008 September 29, there were two Supplementary Warrants totalling $1,191,791,166.00.

Consequently the amount authorized to be withdrawn from the Consolidated Fund was $7,942,575,966.00.

Details are given at paragraph 1.35 of Chapter 1 of this Report.

Total Authorized Expenditure Total authorized expenditure 2.03 financial year 2009 was $52,148,906,728.00 comprising Appropriations of $44,206,330,762.00 and Direct Charges of $7,942,575,966.00.
the for Limitation of Expenditure In accordance with Section 5(2) of the Exchequer and Audit Act, Chapter 2.04 69:01, the Minister of Finance by Circular No.

2 dated 2009 February 20 limited expenditure that could be incurred by Ministries and Departments by $3,701,120,559.00.

Total Expenditure Incurred 2.05 An amount of $45,328,777,837.76 is shown as total expenditure incurred under 41 Heads of Expenditure on the Statement of Expenditure.

Details are shown at Treasury Statements TS 17 and TS 18.
113 Auditor General’s Report 2009 Appropriation Accounts 2.06 Appropriation Accounts in respect of 32 Heads of Expenditure were received in the Auditor General‟s Department at 2010 January 31.

Appropriation Accounts were received in respect of eight Heads of Expenditure after 2010 January 31.

Details are given at Appendix 2 to this Report.


Expenditure by Classification 2.07 The total expenditure shown on 41 Appropriation Accounts received in the Auditor General‟s Department at 2010 February 26 was $45,330,404,107.63.

An analysis of this expenditure according to classification is shown at Table 11 and Chart 6 below.
Table 11 ANALYSIS OF ACTUAL EXPENDITURE ACCORDING TO CLASSIFICATION FOR THE FINANCIAL YEAR 2009 AS REFLECTED IN THE APPROPRIATION ACCOUNTS RECEIVED IN THE AUDITOR GENERAL'S DEPARTMENT Sub Head - Classification Expenditure Incurred $ Percentage % Personnel Expenditure 6,227,885,659.66 13.74 Goods and Services 5,126,993,975.71 11.31 Minor Equipment Purchases 264,756,389.10 0.58 Current Transfers and Subsidies 19,005,788,206.29 41.93 Current Transfers to Statutory Boards and Similar Bodies 5,150,954,003.79 11.36 Acquisition of Physical Capital Assets 209,987,385.54 0.46 Debt Servicing Development Programme TOTAL 6,154,445,746.88 13.58 3,189,592,740.66 7.04 45,330,404,107.63 100.00 114 Auditor General’s Report 2009 Analysis of Actual Expenditure incurred by Ministries/Departments for the Financial Year 2009 by Classification 7.04% 13.74% 13.58% 0.46% 11.36% 11.31% 0.58% 41.93% Personnel Expenditure Goods and Services Minor Equipment Purchases Current Transfers and Subsidies Current Transfers to Statutory Boards and Similar Bodies Acquisition of Physical Capital Assets Debt Servicing Development Programme Chart 6 Paragraph 2.07 refers Audit Scope 2.08 The audit examination included a review of the system of internal control applicable to the Public Accounts including the internal audit function.
The audit also included the examination of the subsidiary books and records of the various Ministries and Departments in order to verify the correctness of amounts shown in the Appropriation Accounts.

Subsidiary books and records include documents showing particulars of 2.09 Financial Management, Human Resource information, procurement of Goods and Services and Assets and Stores Management.

2.10 employed in the assessment of internal controls at Ministries and Departments.
Sample testing together with physical verification and site visits were 2.11 Financial Statements presented by the Accounting Officers.

The integrity of the subsidiary records contributes to the reliability of the 115 Auditor General’s Report 2009 HEADS OF EXPENDITURE – 2009 2.12 The audit findings recorded in this Chapter focus on Heads of Expenditure and the allocations approved by Parliament in respect of the financial year 2009.
These include examples of weaknesses in the system of internal control, as well as non- compliance with legislative requirements and/or financial directives.

Comments also include the lack of proper maintenance of the relevant subsidiary books and records.

2.13 Audit findings have been discussed with Accounting personnel and accountable officers at Exit Meetings and communicated in writing by way of Management Letters addressed to the Permanent Secretary or Head of Department (Accounting Officer).
In certain instances, responses indicating corrective measures taken were received from Accounting Officers.

2.14 expenditure under various Heads of Expenditure as indicated.

The following are observations arising from the examination of Financial Statement 03 – JUDICIARY Expenditure of $288,064,948.94 reflected in the Appropriation Account 2.15 did not agree with that of $287,864,047.85 according to the records of the Treasury.

The reason for the difference was not ascertained.


Commitments 2.16 Account did not agree with that of $4,147,899.23 shown in the records.

The figure of $3,851,440.00 shown at Note 2K to the Appropriation 05 – PARLIAMENT Operations of Constituency Offices 2.17 in respect of which a monthly rental of $3,000.00 was being paid.
Authority was not seen for the establishment of a Constituency Sub Office 2.18 Two bank accounts were established in the name of the Member of Parliament and not in the name of the Constituency, contrary to the provisions of the Constituency Operations Manual.

In four other instances evidence was not seen that bank accounts were established as required.

2.19 required by the provisions of the Constituency Operations Manual.
In one instance the Member of Parliament was not the sole signatory as 116 Auditor General’s Report 2009 05 – PARLIAMENT (cont’d) Financial Statement According 2.20 total expenditure was $89,089,556.02.

This figure differed from that of $89,343,030.63 shown on the Final Expenditure Notification received in the Auditor General‟s Department..

The reason for the difference of $253,474.61 was not ascertained.
the Appropriation Account, to 2.21 Further, the actual expenditure figures shown in the Appropriation Account for Goods and Services of $56,213,208.74 and for Development Programme of $10,318,644.85 differed from those of $56,210,008.02 and $10,416,326.55 respectively shown at Note 3 to the Appropriation Account.

The reasons for these differences were not ascertained.
16 – CENTRAL ADMINISTRATIVE SERVICES, TOBAGO Contract Employment 2.22 Signed agreements for two officers employed at the Meteorological Division were not presented for audit examination.

As a result, the terms and conditions of employment for these officers were not ascertained.

Internal Audit 2.23 Evidence of Internal Audit check was not seen on the records examined.
18 – MINISTRY OF FINANCE CUSTOMS AND EXCISE DIVISION Contract Employment 2.24 terms and conditions of employment for these officers could not be determined.

Signed contract agreements were not produced for 14 officers.

As a result, Other Contracted Services Signed contracts were not seen 2.25 totalling $17,297,129.95 to two service providers.

As a result, the terms and conditions of the arrangements were not ascertained.
to support payments 117 Auditor General’s Report 2009 18 – MINISTRY OF FINANCE (cont’d) Janitorial Services 2.26 Signed contract agreements were not produced for audit with respect to Janitorial Services provided by three service providers.

As a result, the terms and conditions of these arrangements were not ascertained.

COMPTROLLER OF ACCOUNTS Contract Employment 2.27 terms and conditions of employment could not be determined.
Contracts of employment were not produced for 14 officers and as such 21 – MINISTRY OF PLANNING, HOUSING AND THE ENVIRONMENT Financial Statement Examination of the records at one of the two accounting units under this 2.28 Ministry, revealed that expenditure exceeded the approved amount (credit) by $708,738.92.

Also expenditure plus commitments for both Accounting Units exceeded amounts released by $1,284,396.71.

These situations highlighted are contrary to financial directives.
2.29 Further, with respect to one of the Units, expenditure according to the Final Expenditure Notification received in the Auditor General‟s Department was $460,102,368.52 which did not agree with the figure of $460,987,966.92 according to the records of the Treasury.

Rent/Lease – Office Accommodation and Storage 2.30 Signed lease agreements for the rental of three properties were not produced for audit.

As such, it was not possible to verify the terms and conditions of rental of these properties.
CENTRAL STATISTICAL OFFICE Contract Employment Formal contracts of employment were not seen for 10 of the 11 officers in 2.31 the audit sample.

As a result, terms and conditions of employment for these officers were not ascertained.

118 Auditor General’s Report 2009 21 – MINISTRY OF PLANNING, HOUSING AND THE ENVIRONMENT (cont’d) Minor Equipment Purchases 2.32 recorded in the Inventory Register contrary to financial directives.
Purchases during the financial year with a value of $296,026.56 were not Development Programme 2.33 At the time of audit in 2009 November, two cheques dated 2009 September 11 and 2009 September 30 respectively totalling $735,621.30 were seen on hand, although the relevant items had not been received.

This is contrary to financial directives.


22 – MINISTRY OF NATIONAL SECURITY GENERAL ADMINISTRATION Internal Control 2.34 There was a lack of segregation of duties in the area of revenue collection in that the Cashier received cash from the public, prepared and issued receipts and maintained the Cash Book, contrary to principles of good internal control.

Also receipts were recorded in batches in the Cash Book, contrary to financial directives.
Consequently cancelled receipts were not accounted for individually.

PRISON SERVICE Personnel Expenditure – Salaries and Cost of Living Allowance 2.35 Letters of Assumption of Duty were not produced for audit.

Further, evidence was not seen of the monthly „Return of Personnel‟ as required by financial directives.

Also there was no evidence of internal audit examination of the Pay Record Cards.
Overpayments Overpayment Registers were not maintained in accordance with financial 2.36 directives as pertinent information such as nature of overpayment, date of overpayment, total amount overpaid and terms of repayment were not entered in the Registers.

2.37 overpayments.

Personal files bore no evidence that officers were informed of the 119 Auditor General’s Report 2009 22 – MINISTRY OF NATIONAL SECURITY (cont’d) PRISON SERVICE (cont‟d.)
2.38 Comptroller of Accounts and the Auditor General as required by financial directives.

There was no evidence that overpayments were reported to the POLICE SERVICE Personnel Expenditure – Salaries and Cost of Living Allowance 2.39 The Pay Record Cards were not properly maintained in that information such as Salary Ranges, approved acting Range, incremental dates and authority for acting appointments were not recorded on the cards.
Maintenance of Vehicles 2.40 observed: From the sample of vouchers selected for examination the following were Gasolene chits continue to be prepared without reference to Regimental Numbers of Police Officers/Drivers.

Evidence of departmental check was not seen on many of the vouchers presented for audit.

DEFENCE FORCE - REGIMENT Food At Institutions 2.41 Quotations from suppliers in respect of payments for food purchases totalling $2,889,003.87 were not produced for audit scrutiny.
Further, certain Quarterly Price Lists of suppliers of food items, as approved by Management were not produced for audit.

2.42 Departmental checking prior to certification.

Vouchers were not signed as „Passed for Payment‟ as evidence of Internal Audit 2.43 at this Accounting Unit.
There was no evidence of internal audit checks on the accounting records 120 Auditor General’s Report 2009 22 – MINISTRY OF NATIONAL SECURITY (cont’d) IMMIGRATION Personnel Expenditure – Salaries and Cost of Living Allowance 2.44 Several files selected for audit examination were not produced.

Monthly Returns of Personnel to support payment of emoluments to officers were also not produced.
24 –MINISTRY OF LEGAL AFFAIRS Rent/Lease - Office Accommodation and Storage Signed agreements were not produced for 12 of the 13 premises being 2.45 rented.

As such, it was not possible to verify the terms and conditions of rental of these premises.

25 – MINISTRY OF AGRICULTURE, LAND AND MARINE RESOURCES Rent/Lease – Office Accommodation and Storage Signed agreements for six premises occupied by the Ministry were not 2.46 produced for audit examination.
As such, it was not possible to verify the terms and conditions of rental of these properties.

Maintenance of Vehicles 2.47 not being maintained in accordance with Ministry of Finance directives.
The vehicle records examined at three divisions revealed that records were 26 – MINISTRY OF EDUCATION Personnel Expenditure – Salaries and Cost of Living Allowance Overpayments 2.48 According to the records of the Ministry there were 811 cases of overpayment totalling $7,962,602.24 which were discovered during the financial year.

The reports stated that no officer was responsible for the overpayments.
121 Auditor General’s Report 2009 26 – MINISTRY OF EDUCATION (cont’d) Personnel Expenditure – Salaries and Cost of Living Allowance (cont’d) Overpayments (cont‟d) The reasons given for these overpayments and the amounts in the various categories are given below.

Officer paid at incorrect point on salary scale - $819,281.95 Abandonment of office - $102,234.53 Retired/resigned/stop salary/died - $1,204,018.09 Late authorization to stop salary - $1,453,835.05 Late classification of Leave - $4,383,232.62.
2.49 This situation is brought to attention in light of the increasing incidence of overpayments.

According to the records of the Ministry for the five years ended 2009 September 30, 2,271 cases of overpayment totalling $26,480,715.31 were discovered.

2.50 The Permanent Secretary has indicated that the matter is being addressed.

St. Joseph East Secondary School (formerly Curepe Junior Secondary School) 2.51 valued at $95,367.40 were not produced for audit.
During a site visit to the abovementioned school in 2009 August, items 2.52 Registers, Invoice Order Books and Materials Received Book were also not produced.

Several records such as the Vote Book, Stores Register, Inventory 2.53 The loss of several items, the property of the Government of Trinidad and Tobago were not reported to the Auditor General in accordance with Instruction 164 of the Financial Instructions, 1965.
2.54 Duplicate payments totalling $25,500.00 were made for labour costs to a contractor.

Further, it was observed that the charge bills on which the payment was based were copies of bills from previous years with the dates crossed out and replaced by the current year‟s dates.

Princes Town East Secondary School (formerly Princes Town Junior Secondary School) 2.55 produced for audit.
Musical instruments and supplies to a value of $15,020.10 were not 122 Auditor General’s Report 2009 40 – MINISTRY OF ENERGY AND ENERGY INDUSTRIES Rent/Lease – Office Accommodation and Storage Formal lease agreements for the rental of two properties were not 2.56 produced for audit.

As a result it was not possible to verify the terms and conditions of rental of the properties.

Contract Employment 2.57 terms and conditions of service for several officers were not ascertained.
Signed contract agreements were not produced for audit.

As a result, the Security Services 2.58 As a result, the terms and conditions of these arrangements were not ascertained.

Formal contracts for two service providers were not produced for audit.

42 – MINISTRY OF LOCAL GOVERNMENT Personnel Expenditure – Salaries and Cost of Living Allowance 2.59 Ministry of Local Government were not produced for audit.
Returns of Personnel for officers stationed at the Head Office of the Accounting Records 2.60 Statements showing reconciliation of Monthly Abstract of Payments and List of Unpaid Cheques for the financial year were not received in the Auditor General‟s Department.

2.61 Several payment vouchers were not filed in numerical sequence as required by financial directives.

Further, several payment vouchers requested were not produced for audit.
2.62 noted: (i) (ii) Where payment vouchers were seen, the following weaknesses were Initials of the Check Staff were not inserted on the vouchers.

Full particulars of the service rendered were not detailed on the payment vouchers and in the Vote Book.

(iii) Vouchers pertaining to previous years were not signed by the Accounting Officer.
123 Auditor General’s Report 2009 (iv) 42 – MINISTRY OF LOCAL GOVERNMENT (cont’d) (v) Voucher numbers, cheque numbers and dates of payment were not always inserted on vouchers.

Financial Statement Total expenditure the Appropriation Account of reflected on 2.63 $1,367,494,417.97 exceeded credits granted of $1,366,242,257.00 by $1,252,160.97.

Also total expenditure and commitments exceeded total credits granted by $1,334,143.31.

These situations are contrary to financial directives.
46 – MINISTRY OF SPORT AND YOUTH AFFAIRS Personnel Expenditure – Salaries and Cost of Living Allowances 2.64 the Ministry were not produced for audit.

Monthly Returns of Personnel for officers stationed at the Head Office of 2.65 Pay record cards were not properly maintained in that information such as incremental dates, the authority for the payment of acting allowances as well as for the grant of increments was not reflected on the cards.

This resulted in unauthorized payments to officers.
Security Services 2.66 Signed contract agreements for the provision of security services at four sporting facilities in respect of which amounts totalling $332,904.30 per month were paid, were not produced for audit.

In addition, contracts for security services for seven sporting facilities which were produced had expired.

Monthly payments in respect of these facilities totalled $657,792.50.
Financial Statements Note 2C – Overpayments discovered during the year According to Note 2C to the Financial Statements, 13 cases of 2.67 overpayment totalling $60,764.43 were discovered and reported to the Comptroller of Accounts and the Auditor General.

It was stated that of this figure amounts totalling $4,825.01 were recovered.

2.68 However, the records of the Ministry revealed that 19 cases of overpayment totalling $115,861.56 were discovered of which $26,465.31 was recovered.
Only eight of these cases were reported to the Auditor General.

Further, two cases totalling $7,189.08 reported to the Auditor General were not seen in the Ministry‟s records.
124 Auditor General’s Report 2009 46 – MINISTRY OF SPORT AND YOUTH AFFAIRS (cont’d) Financial Statements (cont‟d) Note 3 – Comparative Statement of Expenditure for the last five (5) financial years 2005 – 2009 The expenditure balances at Note 3 to the Appropriation Account in 2.69 respect of the financial year 2009 did not agree with those at Section A of the Appropriation Account.

Details are given below.


Sub Head Section A $ Note 3 $ 01 Personnel Expenditure 02 Goods and Services 04 Current Transfers and Subsidies 09 Development Programme TOTAL 30,701,702.91 110,228,306.92 30,698,102.91 106,668,524.73 153,714,657.95 23,327,057.41 318,695,378.70 151,516,463.72 23,328,045.92 312,936,790.79 47 – MINISTRY OF FOREIGN AFFAIRS Personnel Expenditure – Salaries and Cost of Living Allowance Authority was not seen for the payment of $3,049.00 to an individual in 2.70 2008 October.
The individual was not an employee of the Ministry and the individual‟s name was not seen on the Return of Personnel for the month of 2008 October.

Contract Employment 2.71 a result, terms and conditions of employment were not determined.

Signed contracts of employment were not produced for six officers and as Other Contracted Services 2.72 consultants and the procurement of goods and services were not followed.
The procedures of the Central Tenders Board with respect to the hiring of Deposit Accounts 2.73 The Ministry is responsible for 21 deposit accounts.

Accounting records such as Deposit Register, Deposit Receipts, Cash Books and Vouchers were not produced for audit.

Reconciliation Statements were also not received for audit.

The amount on deposit totalled $8,279,611.17.


125 Auditor General’s Report 2009 47 – MINISTRY OF FOREIGN AFFAIRS (cont’d) Financial Statement 2.74 Total Expenditure in the Appropriation Account of $384,159,035.55 was not in agreement with the amount of $379,257,388.67 shown in the Ministry‟s Abstract of Payments and the amount of $278,359,482.18 shown in the Final Expenditure Notification.
Total Expenditure was also not in agreement with the balance of $382,535,409.99 according to the records of the Treasury.

2.75 Further, Final Schedules of Accounts were not presented for audit.

Statements reconciling these differences were not presented for audit.
Overpayments 2.76 The Overpayment Register produced for audit was not properly maintained in that 11 cases of overpayment totalling $32,962.07 discovered and reported to the Comptroller of Accounts and the Auditor General were not recorded therein.

Also one overpayment of $104,937.79 recorded in the Register was not reported to the Comptroller of Accounts and the Auditor General and was not included in the figure of $34,418.08 stated at Note 2C to the Appropriation Account.
Outstanding Commitments 2.77 Outstanding Commitments were reported at Note 2K to the Appropriation Account as “Nil”.

However, Commitments totalling $1,023,256.89 were reported in the response to the Auditor General‟s Circular Memorandum No.

6 of 2009.

This sum was not in agreement with the records of the Ministry as it did not include invoices totalling $277,547.35 which were outstanding at 2009 September 30 and which were paid subsequent to that date.
HIGH COMMISSION - LONDON Rent/Lease – Office Accommodation and Storage 2.78 occupied by the Chancery.

A formal lease agreement was not seen for the rental of two properties Stores – Liquor Bin cards to record receipts, issues and balances on hand of liquor stores 2.79 were not being utilized.

Also, evidence of independent checks of the liquor stock was not seen.

Overtime 2.80 an “On Call” allowance to be introduced for certain members of staff.
Authority was not seen for the payment of overtime to be discontinued and 126 Auditor General’s Report 2009 48 – MINISTRY OF TRADE AND INDUSTRY Telephones Expenditure under Telephones included charges for 18 mobile telephones 2.81 purchased by the Ministry for use by members of staff.

There was no evidence that instructions and procedures for the use of these telephones were issued by the Permanent Secretary as stipulated in a Cabinet directive.
Also, there were no formal agreements with the holders of these mobile telephones specifying policy/instructions/procedures when these telephones were assigned.

Contract Employment 2.82 Signed agreements were not produced for 11 officers employed on contract and thus terms and conditions of employment were not determined.

Also the authority of the Cabinet for the continued employment of contract officers and for the extension of periods of contracts was not produced for audit.
Current Transfers and Subsidies 2.83 amounts totalling $10,000,000.00 were released during the financial year.

Monthly status reports were not seen from a State enterprise to which 54 – MINISTRY OF SCIENCE, TECHNOLOGY AND TERTIARY EDUCATON Personnel Expenditure – Salaries and Cost of Living Allowance Pay Record Cards were not maintained in accordance with financial 2.84 directives in that incremental dates of officers and details of overpayments recovered were not entered on the cards.
2.85 period 2008 October to 2009 April were not produced for audit.

Receipts in respect of payment of PAYE and Health Surcharge for the Contract Employment 2.86 Chief Personnel Officer and the Minister responsible were not produced for audit.

In several instances, terms and conditions of employment approved by the 127 Auditor General’s Report 2009 54 – MINISTRY OF SCIENCE, TECHNOLOGY AND TERTIARY EDUCATION (cont’d) Minor Equipment Purchases 2.87 An Inventory Register was not produced for audit.
Also, there were no departmental identification marks affixed to furniture and equipment as required by financial directives.

Development Programme With respect to four of the five projects in the audit sample, project files 2.88 were not properly maintained.

Further, certain project documents requested were not produced.

2.89 actual expenditure plus outstanding commitments exceeded $5,044,099.00 contrary to financial directives.
With respect to one project, it was observed that as at 2009 May 31 total releases by total Financial Statement 2.90 The Appropriation Account submitted was not in accordance with the relevant Comptroller of Accounts Circular in that Section D – “Statement showing the effect of the Limitation on Expenditure” was not presented separately as required.
The Appropriation Account incorrectly reflected the limitation of expenditure by the Minister of Finance of $387,966,250.00 as adjustments to the Original Provision.

(Minister of Finance Circular No.

2 dated 2009 February 20 refers.)

2.91 Consequently, the amount of $1,973,292,110.06 shown as Estimates of Expenditure at Section A of the Appropriation Account was understated by Further, the variance of $347,710,456.21 between Estimated $387,966,250.00.
Expenditure of $2,361,258,360.00 and Actual Expenditure of $1,913,547,903.79 was understated by a similar amount and should have read $735,676,706.21.

128 Auditor General’s Report 2009 GENERAL 2.92 The Auditor General by Circular Memorandum No.

6 of 2009 dated 2009 December 02 requested all Permanent Secretaries and Heads of Departments to submit on or before 2010 January 29 the following information for the financial year ended 2009 September 30.
(i) (ii) (iii) (iv) (v) Outstanding Commitments Particulars of trust and other moneys held Particulars of all gifts and/or donations agencies/entities whether monetary or in kind Particulars of the total number of persons employed in contract positions and the total amount paid to such persons during the financial year Action taken in respect of pension and leave records in response to circulars issued by the Comptroller of Accounts.
received from Outstanding Commitments 2.93 Commitments represent amounts relating to goods and services that have been ordered but not yet delivered at the end of the financial year and in respect of which payments have not been made.

Outstanding Commitments as reported totalled $20,055,497.76.

Responses were not received from ten Permanent Secretaries/Heads of Departments.

Appendix 5 refers.
Appendix 5 refers.

Trust and/or other Monies held 2.94 Responses indicating that no monies were held on trust as at 2009 September 30 were received from 27 Permanent Secretaries/Heads of Departments.

Responses were not received from 11 Permanent Secretaries/Heads of Departments.

Gifts and/or Donations received from agencies/entities 2.95 Twenty-six Permanent Secretaries/Heads of Departments replied that no gifts and/or donations were received during the year.
Responses were not received from 12 Permanent Secretaries/Heads of Departments.

Contract Positions received Replies were from 25 Permanent Secretaries/Heads of 2.96 Departments indicating that amounts totalling $211,619,981.75 were paid to 1,955 persons employed in contract positions during the financial year ended 2009 September 30.

The audit highlighted that duly executed contracts were not produced for several of these officers and as such the various terms of engagement could not be verified.
129 Auditor General’s Report 2009 Pension and Leave GENERAL (cont’d) 2.97 Responses were received from 24 Permanent Secretaries/Heads of Departments which indicated that action is being taken to have Pension and Leave records updated and submitted in a timely manner to the Comptroller of Accounts as required by financial directives.

This procedure was observed during the conduct of audits at Ministries and Departments.
However, at some Ministries and Departments it was found that delays in submitting completed records still occurred.

Deposit Accounts Ministries and Departments are given approval by the Comptroller of 2.98 Accounts to maintain Deposit Accounts.

Monies accepted as deposits are lodged with the Treasury for safekeeping and are referred to as “Treasury Deposits”.

The amounts in the Treasury Deposit accounts are temporary lodgements and are shown as liabilities in the records of the Treasury.
2.99 The Financial Instructions 1965, Part XIII, paragraph 212 (2) states that “Departments shall prepare a reconciliation statement with details of the composition of the balance and such statement shall fully explain any difference between the departmental and Comptroller of Accounts balances of the account.” Reconciliation Statements of Deposit Accounts and/or supporting analyses of balances where necessary were not received from 19 Accounting Officers in respect of 159 deposit accounts.
Appendix 6 refers.

The Financial Instructions 1965, Part XIII, paragraph 213 (1) states that 2.100 “Unless the Treasury otherwise directs, all deposits which have remained unclaimed for three years shall be transferred to revenue.” Reconciliation Statements received by the Auditor General in respect of balances held on Deposit Accounts as at 2009 September 30 revealed that amounts totalling $302,402,152.74 remained on deposit for periods in excess of three years on 42 deposit accounts.
The approval of the Comptroller of Accounts to the various Accounting Officers to retain these amounts on deposit beyond a three - year period was not seen.

Appendix 7 to this Report refers.
Cases of Overpayment and Recoveries The Financial Regulations, Chapter, 69:01, Part IX, paragraph 83 states 2.101 that “Every unauthorised payment and overpayment of salary, pension, allowance, wages or other moneys constitutes a debt which is recoverable in full from the payee.” Further, at Part IX of the Financial Instructions, 1965 guidelines are given for the preparation of a report on an unauthorized payment or overpayment and submission of copies of such report to the Comptroller of Accounts and the Auditor General.
130 Auditor General’s Report 2009 Cases of Overpayment and Recoveries (cont‟d.)

GENERAL (cont’d) 2.102 Certified Appropriation Accounts received for the financial year 2009 revealed that 5,622 cases of overpayment were discovered during the financial year, an increase of 1,943 over the previous year.

The value of the cases totalled $21,523,728.10 an increase of $7,434,804.51 or 52% over the previous year‟s figure.

Appendix 8 refers.
Appendix 8 refers.

Of the amount overpaid, amounts totalling $8,689,044.38 (40.37%) were recovered within the year.

2.103 A comparison of this information with the records of the Auditor General‟s Department revealed that reports were not received in the Department in several instances.
Cases of Theft and Losses Reported 2.104 In accordance with Part XIX of the Financial Regulations, Chapter 69:01, Accounting Officers are required to investigate and report all losses of state assets to the Comptroller of Accounts and the Auditor General.

According to reports received in the Auditor General‟s Department for the financial year 2009, there were 154 cases of thefts and losses of state property totalling $2,192,986.31.
The figure comprised 46 cases, each under $5,000.00 in value totalling $149,215.67 and 108 cases totalling $2,043,770.64 each in excess of $5,000.00 in value.

Appendices 9/1 and 9/2 respectively refer.

Inventories An aspect of internal control requires that assets be safeguarded.

Part of 2.105 this control necessitates that adequate records be kept with regard to items of furniture and equipment.
A check of this area revealed that in many instances adequate records are not being maintained to allow for proper control to be exercised over state property.
131 Auditor General’s Report 2009 132 Auditor General’s Report 2009 CHAPTER 3 ACCOUNTS OF RECEIVERS OF REVENUE 133 Auditor General’s Report 2009 134 Auditor General’s Report 2009 CHAPTER 3 ACCOUNTS OF RECEIVERS OF REVENUE 3.01 Receivers of Revenue are responsible for all aspects of the collection of revenue and for rendering proper account of the sums received under specific Heads of Revenue assigned to them.
The Letter of Appointment which is issued to each Receiver of Revenue details the responsibility of a Receiver of Revenue as follows: “In order that there may be no misunderstanding, it is emphasized that under the heading of collection your responsibility covers all the following stages:- Ascertaining the existence of liabilities Ensuring that correct charges are levied Establishing written records of sums due and paid Taking proper steps to secure payment.” Revenue Collectible The approved estimated revenue to be collected for the financial year 2009 3.02 was $51,665,385,371.00.
These revenues were authorized to be collected under the following Heads of Revenue.
CLASSIFICATION HEAD OF REVENUE Tax Revenue TOTAL TAX REVENUE Non-Tax Revenue 01 Taxes on Income and Profits 02 Taxes on Property 03 Taxes on Goods and Services 04 Taxes on International Trade 05 Other Taxes 06 Property Income 07 Other Non-Tax Revenue 08 Repayment of Past Lending TOTAL NON-TAX REVENUE Capital Receipts 09 Capital Revenue Financing TOTAL FINANCING GRAND TOTAL 10 Borrowing 12 Debt Financing 2009 ESTIMATE $ 28,479,349,730.00 75,650,000.00 9,569,104,248.00 2,506,550,625.00 348,000,000.00 40,978,654,603.00 6,149,340,663.00 897,672,180.00 21,261,625.00 7,068,274,468.00 26,036,300.00 3,592,420,000.00 0.00 3,592,420,000.00 51,665,385,371.00 135 Auditor General’s Report 2009 Revenue Collected 3.03 The Statement of Revenue submitted by the Treasury showed that the total actual revenue collected during the financial year ended 2009 September 30 was $40,164,310,627.06.
Paragraph 1.31 of this Report refers.

This amount was collected under the various categories as shown below: Tax Revenue Non-Tax Revenue Capital Receipts Financing $ 31,089,750,124.06 6,475,341,524.17 51,346,885.18 2,547,872,093.65 40,164,310,627.06 During the year, the estimated revenue of $51,665,385,371.00 was 3.04 adjusted downwards to $39,452,879,033.00.
As at 2009 September 30, actual revenue collected totalling $40,164,310,627.06 according to the Statement of Revenue submitted by the Treasury, fell below the original estimated revenue but exceeded the revised estimated revenue.

3.05 A comparison of the figures reflected in the Statement of Revenue submitted by the Treasury and the amounts in the various Statements of Receipts and Disbursements received in the Auditor General‟s Department from Receivers of Revenue showed certain differences.
Details of these differences are given at Appendix 10.

Statements of Receipts and Disbursements 3.06 In accordance with section 24 (1) (c) of the Exchequer and Audit Act, Chapter 69:01 as amended by the Financial Year Act, 1998, Receivers of Revenue were required to prepare and transmit to the Auditor General, statements of their receipts and disbursements for the financial year ended 2009 September 30 by 2010 January 31.

Comptroller of Accounts Circular No.

8 dated 2009 August 24 is relevant.


Statements of Receipts and Disbursements were received from 31 of the 3.07 53 Receivers of Revenue within the deadline date.

Subsequent to the deadline date, statements were received from eight Receivers of Revenue up to 2010 February 26.

Appendix 3 to this Report refers.

As at 2010 February 26, Statements of Receipts and Disbursements were not received from certain Receivers of Revenue for all items of Revenue collectible under their portfolio as detailed below.
136 Auditor General’s Report 2009 Statements of Receipts and Disbursements (cont’d) Code Receiver of Revenue Sub-Item No of Accounts FA 1 Permanent Secretary, Ministry of Foreign Affairs 07/01(002,004) 07/06(001) LA 1 Registrar General, Ministry of Legal Affairs 07/01 (001-004) LA 2 Controller, Intellectual Property Office, Ministry of Legal Affairs 07/01(001) RO 8 Revenue Officer IV, Tobago 02/01 (001) WT 2 Transport Commissioner, Ministry of Works and Transport WT 3 Director, Maritime Services, Ministry of Works and Transport 03/05(001-026) 07/01(001-006) 07/02(001-002) 07/04(001-002) 03/06(001-007) 06/01(001) 07/01(001) 07/04(001-002) 07/06(001-003) 3 4 1 1 36 14 Examination of Revenue Records The following observations were noted during the examination of the 3.08 systems and procedures for revenue accounting at the undermentioned Ministries and Departments.
ELECTIONS AND BOUNDARIES COMMISSION 3.09 The figure of $308,390.00 shown on the Statement of Receipts and Disbursements did not agree with that of $319,719.00 according to the records of the Commission or the amount of $322,494.00 according to the records of the Treasury.

Statements reconciling these balances were not produced for audit.
JUDICIARY – SUPREME COURT There was a difference of $694,123.42 between 3.10 the figure of $2,164,214.44 shown on the Statement of Receipts and Disbursements and in the records of the Treasury and that of $1,522,893.21 shown in the records of the Judiciary.

A statement reconciling these two amounts was not produced for audit.
137 Auditor General’s Report 2009 JUDICIARY – MAGISTRACY 3.11 the figure of There was a difference of $7,142,299.33 between $28,601,950.61 shown in the Statement of Receipts and Disbursements and in the records of the Treasury and that of $21,459,651.28 shown in the records of the Magistracy.

A statement reconciling these two amounts was not produced for audit.
Further, the total revenue arrived at by Audit was $21,293,881.28, a 3.12 difference of $165,770.00 from the balance of $21,459,651.28 according to the entity‟s records.
RETURNS OF ARREARS OF REVENUE 3.13 amended, states as follows: Regulation 56 (2) of the Financial Regulations, Chapter 69:01, as “Accounting Officers and Receivers of Revenue shall submit the original returns of arrears of revenue for the half year ending 31st March and 30th September to the Treasury and copies thereof shall be sent to the Auditor General not later than six weeks after the date to which they relate.” 3.14 As at 2010 February 26, Returns of Arrears of Revenue as at 2009 September 30 were not received by this Department from 24 Receivers of Revenue in respect of 136 items of revenue.
Appendix 11 to this Report refers.

CONSOLIDATED STATEMENT OF ARREARS OF REVENUE 3.15 A Consolidated Statement of Arrears of Revenue at 2009 September 30 submitted by the Permanent Secretary, Ministry of Finance shows Arrears of Revenue totalling $3,457,796,504.00.

The comparative balance as at 2008 September 30 was $3,301,523,612.00.
It was noted however, that the Statement reflected several instances where 3.16 arrears of revenue information was not received by the Permanent Secretary, Ministry of Finance from Receivers of Revenue.
138 Auditor General’s Report 2009 139 Auditor General’s Report 2009 140 Auditor General’s Report 2009 CHAPTER 4 ACCOUNTS OF ADMINISTERING OFFICERS 141 Auditor General’s Report 2009 142 Auditor General’s Report 2009 CHAPTER 4 ACCOUNTS OF ADMINISTERING OFFICERS Appointment of Administering Officers Administering Officers are appointed by the Minister of Finance to 4.01 administer all moneys disbursed from Funds established under section 43 of the Exchequer and Audit Act, Chapter 69:01 and/or from Funds established by other legislative authority.
This responsibility includes disbursements from Funds for projects that have been contracted out to special purpose state enterprises.

4.02 Administering Officers are required to keep separate books of account and separate bank accounts in respect of each Fund and to ensure that a proper system of accounting as approved by the Treasury is established and maintained.
4.03 Administering Officers are also required, inter alia, to: prepare financial statements in a format approved by the Treasury for submission to the Auditor General four months after the close of the financial year in accordance with section 24(2) (a) and (b) of the Exchequer and Audit Act, Chapter 69:01, and ensure that the funds entrusted to their care are properly safeguarded and applied only for the purposes specified on the Schedule to the Warrant for withdrawal from the Funds.
Funds Disbursed to Administering Officers 4.04 During the financial year ended 2009 September 30, the Minister of Finance, by Warrants, authorized withdrawals totalling $6,663,312,142.00 from four Funds.

Certified Financial Statements totalling $1,851,792,740.35 have not been received for audit from six Administering Officers.

Table 12 which follows refers.

respect of withdrawals in Financial Statements 4.05 The Comptroller of Accounts by Circular No.
10 dated 2009 August 24 provided Administering Officers with guidelines for the preparation and submission of financial statements.

Administering Officers were required to submit certified financial statements for the year ended 2009 September 30 for each Fund to the Comptroller of Accounts by 2009 November 30 to enable the Comptroller of Accounts to examine and transmit the statements to the Auditor General, on or before 2010 January 31.
Financial Statements have not been received from several Administering Officers.

Details are given at Appendix 4.
143 Auditor General’s Report 2009 TABLE 12 Funds authorized to be disbursed to Administering Officers during the financial year ended 2009 September 30 Administering Officer Unemployment Fund Permanent Secretary Ministry of Works Permanent Secretary, Ministry of Finance (2009 Unemployment Relief Programme – THA) Amount Authorized $ Amount Withdrawn (Treasury) $ Expenditure As Per Financial Statement $ 365,000,000.00 331,516,817.21 Not Received 17,000,000.00 17,000,000.00 17,000,000.00 Ministry of Agriculture, Land and Marine Resources 44,000,000.00 43,967,114.63 43,967,114.63 Total 426,000,000.00 392,483,931.84 Government Assistance for Tuition Expenses (GATE) Fund Permanent Secretary, Ministry of Science, Technology and Tertiary Education CARICOM Petroleum Fund Permanent Secretary, Ministry of Finance Infrastructure Development Fund Permanent Secretary, Office of the Prime Minister Permanent Secretary, Ministry of Finance Permanent Secretary, Ministry of Planning, Housing and the Environment Permanent Secretary, Ministry of the Attorney General Infrastructure Development Fund Balance Carried Forward 575,109,467.00 572,738,917.00 572,738,917.00 705,024,925.00 702,673,494.78 702,673,494.78 20,789,651.00 20,789,651.00 20,789,651.00 471,358,677.00 471,358,677.00 471,358,677.00 1,155,000,000.00 1,154,716,286.61 Not Received 2,280,404.00 2,280,403.11 2,280,403.11 1,649,428,732.00 1,649,145,017.72 144 Auditor General’s Report 2009 Funds authorized to be disbursed to Administering Officers during the financial year ended 2009 September 30 (cont’d) TABLE 12 (cont’d.)
Administering Officer Infrastructure Development Fund Balance Brought Forward Permanent Secretary, Ministry of Agriculture, Land and Marine Resources Permanent Secretary, Ministry of Education Permanent Secretary, Ministry of Health Permanent Secretary, Ministry of Labour and Small and Micro Enterprise Development Permanent Secretary, Ministry of Public Administration Permanent Secretary, Ministry of Tourism Permanent Secretary, Ministry of Public Utilities Permanent Secretary, Ministry of Energy and Energy Industries Permanent Secretary, Ministry of Local Government Permanent Secretary, Ministry of Works and Transport Amount Authorized $ Amount Withdrawn (Treasury) $ Expenditure As Per Financial Statement $ 1,649,428,732.00 1,649,145,017.72 53,678,390.00 53,678,390.00 53,678,390.00 1,007,752,469.00 1,007,752,363.95 1,007,752,363.95 214,783,354.00 212,166,849.34 212,166,849.34 2,112,898.00 2,112,898.00 2,112,898.00 20,139,047.00 20,139,045.22 20,139,045.22 4,958,168.00 4,958,168.00 4,958,168.00 66,962,485.00 66,962,485.00 Not Received 426,633,490.00 426,633,490.00 1,033,218,429.00 134,838,995.00 134,838,979.43 Not Received 738,776,041.00 737,698,988.56 737,698,988.56 Infrastructure Development Fund Balance Carried Forward 4,320,064,069.00 4,316,086,675.22 145 Auditor General’s Report 2009 TABLE 12 (cont’d.)
Funds authorized to be disbursed to Administering Officers during the financial year ended 2009 September 30 (cont’d) Administering Officer Infrastructure Development Fund Balance Brought Forward Permanent Secretary, Ministry of Sport and Youth Affairs Permanent Secretary, Ministry of Trade and Industry Permanent Secretary, Ministry of Science, Technology and Tertiary Education Permanent Secretary, Ministry of Community Development, Culture and Gender Affairs Permanent Secretary, Ministry of Information Amount Authorized $ Amount Withdrawn (Treasury) $ Expenditure As Per Financial Statement $ 4,320,064,069.00 4,316,086,675.22 36,498,649.00 36,235,370.10 Not Received 127,522,802.00 127,522,802.00 Not Received 171,873,078.00 171,873,078.00 171,873,078.00 296,690,456.00 296,690,453.68 296,690,453.68 4,528,696.00 4,528,695.64 4,528,695.64 Infrastructure Development Fund Total 4,957,177,750.00 4,952,937,074.64 GRAND TOTAL 6,663,312,142.00 6,620,833,418.26 146 Auditor General’s Report 2009 UNEMPLOYMENT FUND MINISTRY OF WORKS AND TRANSPORT A Financial Statement in respect of disbursements made under the 4.06 Unemployment Fund for the Unemployment Relief Programme as required by the directive of the Comptroller of Accounts was not received in the Auditor General‟s Department.
4.07 not recorded in the Expenditure Abstract as required by financial directives.
Payments made for the months of 2009 March to 2009 September were 4.08 with respect to expenditure at the financial year end as under: There were differences in the records of the Ministry and the Treasury Ministry‟s Vote Book and Schedule of Accounts Ministry‟s Notification of Disbursement - - $330,293,593.98 $331,550,680.57 Treasury‟s Records $331,516,817.21 Statements reconciling the above amounts were not presented for audit.
PERMANENT SECRETARY, MINISTRY OF FINANCE (2009 UNEMPLOYMENT RELIEF PROGRAMME – TOBAGO HOUSE OF ASSEMBLY 4.09 Actual expenditure of $16,823,124.75 and outstanding commitments of $647,785.56 incurred under Head 206/1 (i) URP – 16 totalled $17,570,910.31 and exceeded releases of $17,000,000.00 by $570,910.31.
This was contrary to section 67 of the Exchequer and Audit Act, Chapter 69:01 which states in part that “Accounting officers shall ensure that at all times votes are sufficient to meet all commitments,….” Further, evidence of internal audit check was not seen on the records examined.

147 Auditor General’s Report 2009 GOVERNMENT ASSISTANCE FOR TUITION EXPENSES (GATE) FUND 4.10 Government Assistance for Tuition Expenses (GATE) Fund.
Government agreed in 2004 January to the establishment of the In 2005 December, Government agreed to increase its funding from 50% 4.11 to 100% of the cost of tuition for any citizen of Trinidad and Tobago pursuing undergraduate programmes at local and regional public tertiary institutions, including distance learning programmes.
In addition, the Government also agreed to fund 50% of the cost of tuition, up to a maximum of $10,000.00 per year, for students pursuing accredited postgraduate programmes at approved local private tertiary educational institutions.

4.12 For the financial year 2009, amounts totalling $575,109,467.00 were authorized to be withdrawn from the Fund, of which $333,758,087.00 was for 16 public institutions and $241,351,380.00 for 28 private institutions.
4.13 The Financial Statements presented by the Ministry of Science, Technology and Tertiary Education reflected actual expenditure of $572,738,917.00 which was in agreement with the figure reflected in the records of the Treasury.

CARICOM PETROLEUM FUND 4.14 Legal Notice No.

302 dated 2006 November 23 amended the First Schedule to the Exchequer and Audit Act, Chapter 69:01 to include the CARICOM Petroleum Fund.
The purpose of this Fund is to provide relief to CARICOM States in accordance with the criteria agreed to between the Heads of Government and the CARICOM Secretariat.

4.15 During the financial year ended 2009 September 30, amounts totalling $705,024,925.00 were authorized to be released by Warrants to the Permanent Secretary, Ministry of Finance as the Administering Officer of this Fund.
A certified Financial Statement has been received from the Administering 4.16 Officer in respect of this Fund indicating that expenditure for the financial year was $702,673,494.78.

4.17 the purpose of the Fund.

Paragraph 1.118 of this Report refers.
Amounts totalling $424,892,180.00 did not appear to be in keeping with 148 Auditor General’s Report 2009 INFRASTRUCTURE DEVELOPMENT FUND GENERAL Comptroller of Accounts Circular No.12 dated 2005 November 09 on the 4.18 subject “Accounting Arrangements for Disbursement of Funds from the Infrastructure Development Fund” sets out guidelines to be followed to ensure accountability and transparency with respect to projects undertaken by special purpose state enterprises on behalf of Ministries and Departments.
4.19 compliance with the abovementioned guidelines.

Highlighted below are certain instances where there was not full MINISTRY OF PLANNING, HOUSING AND THE ENVIRONMENT A Certified Financial Statement as required by Comptroller of Accounts 4.20 Circular No.10 dated 2009 August 24 has not been received from the Permanent Secretary, Ministry of Planning, Housing and the Environment in respect of expenditure under this Fund.
4.21 According to Draft Estimates of Expenditure for the financial year 2009, amounts totalling $800,000,000.00 were approved for the Ministry of Planning, Housing and the Environment under this Fund.

This amount was limited by the Minister of Finance to $700,000,000.00 by Circular No.2 dated 2009 February 20.

4.22 However, it was noted that amounts totalling $1,155,000,000.00 were authorized to be released to the Permanent Secretary, Ministry of Planning, Housing and the Environment from this Fund.
This was $355,000,000.00 in excess of the amount authorized by Parliament.

Amounts totalling $1,127,000,000.00 were to meet commitments incurred by the Housing Development Corporation (the Corporation) in respect of the Accelerated Housing Programme and $28,000,000.00 was to reduce the Corporation‟s overdraft facility held at a commercial bank.

MINISTRY OF LOCAL GOVERNMENT 4.23 Accounts was not received in the Auditor General‟s Department.
A signed financial statement in the format required by the Comptroller of 4.24 The provisions of the Comptroller of Accounts Circular No.
12 dated 2005 November 09 with respect to the disbursement of funds under the Infrastructure Development Fund were not satisfactorily complied with, in that: 149 Auditor General’s Report 2009 INFRASTRUCTURE DEVELOPMENT FUND (cont’d) MINISTRY OF LOCAL GOVERNMENT (cont’d) (i) The project execution function was contracted out to Special Purpose State Enterprises (SPSEs), but contracts executed between the Ministry and these Agencies were not produced for audit examination; (ii) Statements from the Ministry indicating measures put in place to manage the executing agencies were not provided for audit review, and (iii) Documents such as the Agency‟s Corporate and Business Plans, Organisational Structure and Statements demonstrating its capacity to undertake the projects were not provided for audit.
MINISTRY OF WORKS AND TRANSPORT Commitments According to the records of the Ministry, actual expenditure of totalling $766,036,586.18 4.25 $737,698,988.56 and commitments of $28,337,597.62 exceeded total amounts released by Warrant of $738,776,041.00 by $27,260,545.18.

This was contrary to a financial directive which states that actual expenditure and commitments must not exceed releases.

MINISTRY OF SPORT AND YOUTH AFFAIRS 4.26 not received in the Auditor General‟s Department.
A signed financial statement for the Infrastructure Development Fund was MINISTRY OF COMMUNITY DEVELOPMENT, CULTURE AND GENDER AFFAIRS 4.27 format required by the Comptroller of Accounts.
The Financial Statement submitted for audit was not prepared in the MUNICIPAL CORPORATIONS San Fernando City Corporation Unspent Balance Evidence was not seen that the unspent balance as at 2009 September 30 4.28 was remitted to the Comptroller of Accounts as required by Comptroller of Accounts Circular dated 1999 January 15.

150 Auditor General’s Report 2009 INFRASTRUCTURE DEVELOPMENT FUND (cont’d) San Fernando City Corporation (cont’d) Commitments 4.29 amount represents commitments dating back to 2005.
Commitments as at 2009 September 30 totalled $218,923.27.

This Diego Martin Regional Corporation Unspent Balance 4.30 deposited with the Comptroller of Accounts in accordance with Treasury directives.

Evidence was not seen that the unspent balance of $46,235.26 was Siparia Regional Corporation Unspent Balance 4.31 The unspent balance of $261,990.92 for the year ended 2009 September 30 was not remitted to the Comptroller of Accounts as required by Comptroller of Accounts Circular dated 1999 January 15.
Commitments 4.32 01 remained outstanding as at 2009 September 30.

Commitments totalling $373,632.11 brought forward as at 2008 October Point Fortin Borough Corporation Cash at Bank 4.33 An amount of $122,686.70 was remitted to the Comptroller of Accounts prior to deducting bank interest and charges of $3,787.20.

As a result the account reflected a deficit of $3,787.20 contrary to financial directives.
Sangre Grande Regional Corporation Unspent Balance 4.34 deposited with the Comptroller of Accounts in accordance with Treasury directives.
Evidence was not seen that the unspent balance of $168,525.83 was 151 Auditor General’s Report 2009 ROAD IMPROVMENT FUND MUNICIPAL CORPORATIONS San Fernando City Corporation Unspent Balance 4.35 Evidence was not seen that the unspent balance of $499,738.75 at 2009 September 30 was remitted to the Comptroller of Accounts as required by Comptroller of Accounts Circular dated 1999 January 15.

4.36 Infrastructure Development Fund contrary to financial directives.
Further, this amount continued to be held in a bank account for the Point Fortin Borough Corporation Commitments Commitments totalling $14,217.00 in respect of financial years 2003/2004 4.37 and 2004/2005 remained outstanding as at 2009 September 30.

Provision was not made for these commitments when the bank balance of $210,170.10 at 2009 August 11 was deposited in the Treasury.
GREEN FUND 4.38 The Green Fund was established under section 65 (1) of the Miscellaneous Taxes Act (the Act), which was amended by the Finance Act 2004 (Act No.

5 of 2004), which was assented to on 2004 January 30.

According to section 64 of the Act, the purpose of the Fund is to financially assist organizations and community groups that are primarily engaged in activities related to the remediation, reforestation and conservation of the environment.

4.39 with the collection of the Green Fund Levy.


Under section 62 (1) of the Act, the Board of Inland Revenue is charged 4.40 system for disbursement of funds from the Green Fund.

On 2005 April 26, the Comptroller of Accounts established the accounting 4.41 Regulations made under section 69 of the Act.
On 2007 January 18, the Minister of Finance signed the Green Fund 152 Auditor General’s Report 2009 GREEN FUND (cont’d) 4.42 The Green Fund Executing Unit was established within the Ministry of Planning, Housing and the Environment with effect from 2008 June.
This followed the realignment of portfolios as notified in the Trinidad and Tobago Gazette Volume 46 dated 2007 December 18, where the Environment Division of the former Ministry of Public, Utilities and the Environment was transferred to the Ministry of Planning, Housing and the Environment with effect from 2007 December 18.

There were no withdrawals from the Fund for the financial year 2009.

4.43 Details of movements in the Fund are given at Treasury Statements referenced TS 55 and TS 56.
NATIONAL UNION OF GOVERNMENT AND FEDERATED WORKERS (NUGFW) TRAINING FUND Cabinet in 2004 August agreed to the establishment of the National Union 4.44 of Government and Federated Workers (NUGFW) Training Fund from 2004 October to provide training and re-training of hourly, daily and weekly-rated workers of Central Government, the Tobago House of Assembly and certain Municipal Corporations where NUGFW is the certified bargaining agent.
4.45 The Fund was established under Section 43(2) of the Exchequer and Audit Act, Chapter 69:01 (the Act) and by Legal Notice No.

280 dated 2004 September 27, which amended the First Schedule to the Act to include the National Union of Government and Federated Workers Training Fund.

4.46 Fund with effect from 2004 October 01.

The Chief Personnel Officer was appointed Administering Officer for the 4.47 There were no withdrawals from the Fund in the financial year 2009.
Details of movements in the Fund are given at Treasury Statements referenced TS 51 and TS 52.

CARICOM TRADE SUPPORT FUND 4.48 The CARICOM Trade Support Fund was established under section 43 (2) of the Exchequer and Audit Act, Chapter 69:01.

Legal Notice No.

13 dated 2005 January 12 refers.

No monies were authorized to be released under this Fund for the financial 4.49 year 2009.

Details of movements in the Fund are given at Treasury Statements referenced TS 57 and TS 58.
153 Auditor General’s Report 2009 154 Auditor General’s Report 2009 CHAPTER 5 PAYMENTS OUT OF PUBLIC MONEYS TO MEMBERS OF PARLIAMENT 155 Auditor General’s Report 2009 156 Auditor General’s Report 2009 CHAPTER 5 PAYMENTS OUT OF PUBLIC MONEYS TO MEMBERS OF PARLIAMENT 5.01 Section 25(2) of the Exchequer and Audit Act, Chapter 69:01 stipulates that: “The Auditor General shall set out in his annual report all payments made out of public moneys to a member of each House of Parliament (other than the salary and any allowances paid to him as a Minister, President or Deputy President of the Senate, Speaker or Deputy Speaker of the House, Parliamentary Secretary or as a member, and any pension paid to such member) by stating the name of the member receiving the payment, the total amount which he has received and the service or services in respect of which the payment was made.” 5.02 By Auditor General‟s Circular Memorandum No.
5 of 2009 dated 2009 December 02 all Permanent Secretaries and Heads of Departments were requested to submit particulars of all payments made out of public moneys to Members of Parliament as required by section 25(2) of the Exchequer and Audit Act.

“Nil” responses were received in several instances.

However, the following information was received from the Ministry of the Attorney General and was also included at Note 4 to the Appropriation Account of that Ministry.
Name of Member Receiving Payment Amount Received $ Service or Services for which Payment was made Dana S. Seetahal 135,000.00 Dana S. Seetahal 720,000.00 Dana S. Seetahal 15,000.00 Total Carried Forward 870,000.00 Professional Services Re: Cpl.

Marcelle, Bruce Rezende Professional Services Re: Snr.

Supt.
Khan vs S. Peters & others Professional Services Re: Return of Richard De Four & others 157 Auditor General’s Report 2009 Name of Member Receiving Payment Amount Received $ Service or Services for which Payment was made Total Brought Forward 870,000.00 Dana S. Seetahal 18,750.00 Professional Services Re: State vs V. Mangaroo Dana S. Seetahal 35,000.00 Dana S. Seetahal 241,750.00 Professional fees: Leave of Appeal to the Privy Council for R. De Four, L. Nurse, K. Demerieux & Z. Clarke Professional Services Re: Appearance Magistrate Court for Cpl.
Marcelle vs Bruce Rezende Dana S. Seetahal 150,000.00 Professional fees: Criminal Appeals Dana S. Seetahal 37,500.00 Professional fees: Criminal Appeals Dana S. Seetahal 23,000.00 Dana S. Seetahal 112,500.00 Dana S. Seetahal 32,000.00 Dana S. Seetahal 37,500.00 Dana S. Seetahal 37,500.00 Professional Services Re: Matter Benjaminbooks & Production, J. Benjamin vs T & T Gov‟t Professional Services Re: Criminal Appeals Professional Services Re: Requisition in The State vs S. Mohammed Professional Services Re: Criminal Appeals Professional Services Re: L. Pittman vs The State, O. Mc Carthy vs The State, J. Ramdeen & D. Abraham vs The State Dana S. Seetahal 60,000.00 Professional Services Re: The State vs Dane Lewis Total Carried Forward 1,655,500.00 158 Auditor General’s Report 2009 Name of Member Receiving Payment Amount Received $ Service or Services for which Payment was made Total Brought Forward 1,655,500.00 Dana S. Seetahal 37,500.00 Dana S. Seetahal 37,500.00 Dana S. Seetahal 180,000.00 Professional Services Re: Criminal Appeals Professional Services Re: Criminal Appeals Professional Services Re: Retainer in H.C.A.
2292 of 1994 AG vs Jamaat Al Muslimeen Dana S. Seetahal 40,000.00 Professional Services Re: Mano Sakal & Surengra Sakal vs Her Worship Magistrate B. Earle Caddle Dana S. Seetahal 80,000.00 Professional Services Re: Snr.

Supt.
Virgil vs Finbar Ganga Dana S. Seetahal 37,500.00 Professional Services Re: Criminal Appeals Dana S. Seetahal 37,500.00 Professional Services Re: Criminal Appeals Dana S. Seetahal 6,000.00 Professional Services Re: De Four, Nurse, K. Demerieux and Z. Clarke Request for disclosure TOTAL 2,111,500.00 159 Auditor General’s Report 2009 160 Auditor General’s Report 2009 APPENDICES 161 Auditor General’s Report 2009 162 Auditor General’s Report 2009 APPENDIX 1 In accordance with section 24 (1) (a) of the Exchequer and Audit Act, Chapter 69:01 as amended by the Financial Year Act, 1998, the Treasury was required to submit Financial Statements for the financial year ended 2009 September 30 by 2010 January 31.
Listed below are the Financial Statements received from the Treasury which have been reproduced in this document.

STATEMENTS RECEIVED DATE RECEIVED 1.

The Exchequer Account (TS 2-TS 7) 2.

Statement of the Public Debt (TS 8-TS 10) 2010 January 29 2010 January 29 3.

Statement of Loans from General Revenue (TS 11-TS 15) 2010 January 29 4.

Statement of Revenue (TS 16) 5.

Statement of Expenditure (TS 17-TS 18) 6.


The Statement of the Loans or Credits guaranteed by the State (TS 19-TS 24) 2010 January 29 2010 January 29 2010 January 29 7.

Consolidated Statement of Assets and Liabilities (TS 25) 2010 January 29 8.

The Consolidated Fund (TS 26) 9.

Notes to the Accounts (TS 27-TS 31) 10. Letters of Comfort issued by the Government of Trinidad and Tobago (TS 32-TS 35) 11.

Statement of Promissory Notes (TS 36-TS 38) 12.


Balances outstanding on the Build, Operate, Lease and Transfer (BOLT) Projects (TS 39) 13.

Statement of Balances on Loans assumed by the Government of the Republic of Trinidad and Tobago (TS 40) 14.

Statement of Loans from the Funds for Long-Term Development (TS 41-TS 42) 15.

Schedule of Special Funds appearing in the Consolidated Statements of Assets and Liabilities (TS 43) 16.
Schedule of Trust Funds appearing in the Consolidated Statement of Assets and Liabilities (TS 44) 2010 January 29 2010 January 29 2010 January 29 2010 January 29 2010 January 29 2010 January 29 2010 January 29 2010 January 29 2010 January 29 163 Auditor General’s Report 2009 APPENDIX 1 (cont’d) 17.

The Unemployment Fund (TS 45-TS 46) 18.

The Road Improvement Fund (TS 47-TS 48) 19.

Infrastructure Development Fund (TS 49-TS 50) 20.


National Union of Government and Federated Workers Training Fund (TS 51-TS 52) 21.

Government Assistance for Tuition Expenses (GATE) Fund (TS 53-TS 54) 22.

Green Fund (TS 55-TS 56) 23.

CARICOM Trade Support Fund (TS 57-TS 58) 24.
CARICOM Petroleum Fund (TS 59-TS 60) 2010 January 29 2010 January 29 2010 January 29 2010 January 29 2010 January 29 2010 January 29 2010 January 29 2010 January 29 164 Auditor General’s Report 2009 APPENDIX 2 In accordance with section 24 (1) (b) of the Exchequer and Audit Act, Chapter 69:01 as amended by the Financial Year Act, 1998, Accounting Officers were required to prepare and transmit to the Auditor General, Appropriation Accounts for the financial year ended 2009 September 30 by 2010 January 31.
Listed below are the Appropriation Accounts received from Accounting Officers and the date of their receipt.

(Paragraph 2.06 of the Report refers.)
HEAD OF EXPENDITURE MINISTRY/DEPARTMENT DATE RECEIVED 01 03 04 05 06 07 08 09 11 12 13 President Judiciary Industrial Court Parliament Service Commissions Statutory Authorities‟ Service Commission Elections and Boundaries Commission Tax Appeal Board 2010 January 29 2010 January 29 2010 January 26 2010 January 29 2010 January 28 2010 January 29 2010 January 29 2010 January 29 Registration Recognition and Certification Board 2010 January 29 Public Service Appeal Board 2010 February 02 Office of the Prime Minister Tobago House of Assembly Central Administrative Services, Tobago Personnel Department Ministry of Finance 2010 January 29 2010 January 28 2010 January 28 2010 January 29 2010 January 29 Charges on Account of the Public Debt 2010 January 29 Pensions and Gratuities 2010 January 29 Ministry of Planning, Housing and the Environment 2010 January 28 Ministry of National Security 2010 January 29 Ministry of the Attorney General 2010 January 29 Ministry of Legal Affairs 2010 January 27 165 Auditor General’s Report 2009 APPENDIX 2 (cont’d) HEAD OF EXPENDITURE MINISTRY/DEPARTMENT DATE RECEIVED 25 26 28 Ministry of Agriculture, Land and Marine Resources 2010 January 29 Ministry of Education Ministry of Health 2010 January 29 2010 January 28 30 Ministry of Labour and Small and Micro Enterprise Development 2010 February 01 31 35 37 38 39 40 42 43 46 47 48 Ministry of Public Administration Ministry of Tourism Integrity Commission Environmental Commission Ministry of Public Utilities Ministry of Energy and Energy Industries Ministry of Local Government Ministry of Works and Transport Ministry of Sport and Youth Affairs Ministry of Foreign Affairs 2010 January 28 2010 January 22 2010 January 27 2010 January 29 2010 January 26 2010 January 29 2010 January 29 2010 February 02 2010 February 19 2010 January 29 Ministry of Trade and Industry 2010 February 01 54 Ministry of Science, Technology and Tertiary Education 55 56 57 Ministry of Community Development, Culture and Gender Affairs Ministry of
 Social Development Ministry of Information 2010 February 01 2010 February 01 2010 January 29 2010 February 01 166 Auditor General’s Report 2009 APPENDIX 3 List of Statements of Receipts and Disbursements received from Receivers of Revenue and the date of their receipt (Statements received after 2010 February 26 were not included) (Paragraph 3.07 of the Report refers) RECEIVER OF REVENUE DATE RECEIVED CODE AL 1 AL 2 AL 3 Permanent Secretary, Ministry of Agriculture, Land and Marine Resources Director of Surveys, Ministry of Agriculture, Land and Marine Resources Commissioner of State Lands, Ministry of Agriculture, Land and Marine Resources AT 4 Chief State Solicitor, Ministry of the Attorney General 2010 January 29 2010 January 26 2010 January 26 2010 January 28 CD 1 Permanent Secretary, Ministry of Community Development, Culture and Gender Affairs 2010 February 01 EB 1 Chief Election Officer, Elections and Boundaries Commission ED 1 Permanent Secretary, Ministry of Education EN 1 Permanent Secretary, Ministry of Energy and Energy Industries FA 1 FN 1 FN 2 FN 3 FN 5 FN 6 HE 1 IC 1 IN 1 JM 1 JS 1 Permanent Secretary, Ministry of Foreign Affairs Comptroller of Accounts, Ministry of Finance Chairman, Board of Inland Revenue, Ministry of Finance Comptroller of Customs and Excise, Ministry of Finance Permanent Secretary, Ministry of Finance (Investment Division) Permanent Secretary, Ministry of Finance Permanent Secretary, Ministry of Health Registrar, Industrial Court Permanent Secretary, Ministry of Information Chief Magistrate, Judiciary - Magistracy Registrar, Judiciary – Supreme Court 2010 January 29 2010 January 29 2010 January 29 Not Received 2010 January 29 2010 January 29 2010 January 27 2010 January 29 2010 January 29 2010 January 29 2010 January 26 2010 February 01 2010 January 19 2010 January 19 167 Auditor General’s Report 2009 APPENDIX 3 Cont’d APPENDIX 3 Cont’d APPENDIX 3 (cont’d) CODE RECEIVER OF REVENUE DATE RECEIVED LA 1 Registrar General, Ministry of Legal
 Affairs Not Received LA 2 Controller, Intellectual Property Office, Ministry of Legal Affairs LA 3 Permanent Secretary, Ministry of Legal Affairs Permanent Secretary, Ministry of Labour and Small and Micro Enterprise Development Permanent Secretary, Ministry of National Security Chief Immigration Officer, Ministry of National Security Commissioner of Police, Ministry of National Security Chief Fire Officer, Ministry of National Security Not Received 2010 January 22 2010 February 01 2010 January 27 2010 January 29 2010 January 29 2010 January 28 Commissioner of Prisons, Ministry of National Security 2010 February 05 Permanent Secretary, Ministry of Public Administration Permanent Secretary, Ministry of Public Administration Permanent Secretary, Ministry of Planning, Housing and the Environment Director of Statistics, Ministry of Planning, Housing and the Environment Permanent Secretary, Ministry of Public Utilities Revenue Officer V, St. George West – Ministry of Finance Revenue Officer IV, St. George East – Ministry of Finance Revenue Officer IV, Caroni / Chaguanas Ministry of Finance Revenue Officer IV, St. Andrew/St.
David Ministry of Finance Revenue Officer IV, St. Patrick – Ministry of Finance Revenue Officer IV, Nariva / Mayaro -Ministry of Finance 2010 January 28 2010 January 28 2010 February 01 2010 February 09 2010 January 26 2010 February 08 2010 January 29 2010 February 02 2010 January 28 2010 January 19 2010 January 29 LE 1 NS 1 NS 2 NS 3 NS 4 NS 5 PA 1 PA 3 PH 1 PH 2 PU 1 RO 1 RO 2 RO 3 RO 4 RO 5 RO 6 168 Auditor General’s Report 2009 APPENDIX 3 (cont’d) CODE RECEIVER OF REVENUE DATE RECEIVED RO 7 Revenue Officer IV, Victoria - Ministry of Finance 2010 February 05 RO 8 Revenue Officer IV, Tobago Not Received SC 1 Director of Personnel Administration, Service Commissions Department 2010 January 28 SY 1 Permanent Secretary, Ministry of Sport and Youth Affairs 2010 January 27 TA 1 TR 1 WT 2 WT 3 Registrar, Tax Appeal Board Permanent Secretary, Ministry of Trade and Industry 2010 January 29 2010 January 29 Transport Commissioner, Ministry of Works and Transport Not Received Director, Maritime Services, Ministry of Works and Transport Not Received 169 Auditor General’s Report 2009 APPENDIX 4 In accordance with section 24 (2) (a) and (b) of the Exchequer and Audit Act, Chapter 69:01 as amended by the Financial Year Act, 1998, officers administering a fund established under section 43 of the Act or any trust or other fund were required to prepare, sign and transmit to the Auditor General an account for the financial year ended 2009 September 30 by 2010 January 31.
Listed below are the Accounts received from Administering Officers and the date of their receipt.

(Financial Statements received after 2010 February 26 were not included).

(Paragraph 4.05 of the Report refers.)

ADMINISTERING OFFICERS DATE RECEIVED 1.


THE UNEMPLOYMENT FUND Permanent Secretary, Ministry of Agriculture, Land and Marine Resources Permanent Secretary, Ministry of Finance ( 2009 Unemployment Relief Programme, Tobago House of Assembly) 2010 February 09 2010 February 09 Permanent Secretary, Ministry of Works and Transport Not Received 2.

3.

4.

5.
3.

4.

5.

GOVERNMENT ASSISTANCE FOR TUITION EXPENSES (GATE) FUND Permanent Secretary, Ministry of Science, Technology and Tertiary Education NATIONAL UNION OF GOVERNMENT AND FEDERATED WORKERS TRAINING FUND Chief Personnel Officer CARICOM TRADE SUPPORT FUND Permanent Secretary, Ministry of Trade and Industry CARICOM PETROLEUM FUND Permanent Secretary, Ministry of Finance 6.

ROAD IMPROVEMENT FUND Chief Executive Officer, Couva/Tabaquite/Talparo 7.
INFRASTRUCTURE DEVELOPMENT FUND 2010 February 09 2010 February 09 2010 February 09 2010 February 09 2010 February 03 Permanent Secretary, Office of the Prime Minister 2010 February 09 Permanent Secretary, Ministry of Finance 2010 February 09 170 Auditor General’s Report 2009 APPENDIX 4 (cont’d) Permanent Secretary, Ministry of Planning, Housing and the Environment Not Received Permanent Secretary, Ministry of National Security 2010 February 09 Permanent Secretary, Ministry of the Attorney General 2010 February 09 Permanent Secretary, Ministry of Agriculture, Land and Marine Resources Permanent Secretary, Ministry of Education Permanent Secretary, Ministry of Health Permanent Secretary, Ministry of Labour and Small and Micro Enterprise Development 2010 February 09 2010 February 09 2010 February 09 2010 January 28 Permanent Secretary, Ministry of Public Administration 2010 February 09 Permanent Secretary, Ministry of Tourism 2010 February 09 Permanent Secretary, Ministry of Public Utilities Not Received Permanent Secretary, Ministry of Energy and Energy Industries 2010 February 09 Permanent Secretary, Ministry of Local Government Not Received Chief Executive Officer, Couva/Tabaquite/Talparo 2010 February 03 Permanent Secretary, Ministry of Works and Transport 2010 February 09 Permanent Secretary, Ministry of Sport and Youth Affairs Not Received Permanent Secretary, Ministry of Trade and Industry Not Received Permanent Secretary, Ministry of Science, Technology and Tertiary Education 2010 February 09 Permanent Secretary, Ministry of Community Development, Culture and Gender Affairs 2010 February 09 Permanent Secretary, Ministry of Information 2010 February 09 171 Auditor General’s Report 2009 APPENDIX 5 Outstanding Commitments Reported as at 2009 September 30 (Paragraph 2.93 of the Report refers) Head of Expenditure Ministry/Department Outstanding Commitments Reported $ 01 03 04 05 06 07 08 09 11 12 13 15 16 17 18 26 28 30 President Judiciary Industrial Court Parliament Service Commissions Statutory
 Authorities‟ Service Commission Elections and Boundaries Commission Tax Appeal Board Registration Recognition and Certification Board Public Service Appeal Board Office of the Prime Minister Tobago House of Assembly Central Administrative Services, Tobago Personnel Department Ministry of Finance Customs and Excise Division Inland Revenue and Valuation Division Treasury Division Ministry of Planning, Housing and the Environment Ministry of National Security Police - - Ministry of National Security Ministry of the Attorney General Ministry of Legal Affairs Ministry of Agriculture, Land and Marine Resources Ministry of Education Ministry of Health Ministry of Labour and Small and Micro Enterprise Development 31 35 Ministry of Public Administration Ministry of Tourism - General Administration - LifeGuard Services Integrity Commission Environmental Commission Ministry of Public Utilities Ministry of Energy and Energy Industries Ministry of Local Government Ministry of Works and Transport Ministry of Sport and Youth Affairs 37 38 39 40 42 43 46 0.00 3,954,937.00 250.00 211,791.12 17,300.00 288.00 0.00 NR 0.00 NR 0.00 NR 15,446.00 25,946.75 494,836.61 2,062,322.48 4,883,933.15 1,374,782.80 NR NR 273,720.52 174,908.00 NR 4,799,382.00 1,622,535.18 NR 251,794.05 429,031.00 55,930.00 NR 0.00 221,942.61 915,134.00 NR 338,039.70 NR Carried Forward 14,683,158.73 172 Auditor General’s Report 2009 APPENDIX 5 (cont’d) Head of Expenditure Ministry/Department Outstanding Commitments Reported $ Brought Forward 47 48 54 55 56 57 Ministry Foreign Affairs Ministry of Trade and Industry Ministry of Science, Technology and Tertiary Education Ministry of Community Development, Culture and Gender Affairs Ministry of Social Development Ministry of Information TOTAL NR – Not Received 14,683,158.73 1,022,656.89 389,469.00 NR 443,495.00 3,516,718.14 NR 20,055,497.76 173 Auditor General’s Report 2009 APPENDIX 6 Summary of Deposit Accounts in respect of which Reconciliation Statements and/or
 Analyses of Balances as at 2009 September 30 were not received (Paragraph 2.99 of the Report refers) NAME OF MINISTRY/DEPARTMENT NO.
OF ACCOUNTS Judiciary Supreme Court  St Patrick, Point Fortin  St. Patrick, La Brea  Caroni, Chaguanas  Caroni, Couva  Victoria , San Fernando  Victoria, Princes Town        Tobago St. George East, Tunapuna St George East, Arima St. George West, Port of Spain St. George West, Chaguaramas South Eastern Counties, Mayaro/Rio Claro St. Andrew/St.
David, Sangre Grande Parliament Personnel Department Ministry of Finance Inland Revenue Revenue Officer IV – St. George West Revenue Officer IV – Tobago Customs and Excise Comptroller of Accounts Ministry of Planning, Housing and the Environment Central Statistical Office 6 1 2 4 4 4 4 4 4 4 4 4 4 4 1 1 1 1 1 2 1 2 3 Carried Forward 73 174 Auditor General’s Report 2009 APPENDIX 6 (cont’d) NAME OF MINISTRY/DEPARTMENT NO.

OF ACCOUNTS Brought Forward….
Ministry of National Security General Administration Police Defence Force Immigration Prisons Ministry of Legal Affairs Ministry of Agriculture, Land and Marine Resources Ministry of Education Ministry of Health Ministry of Labour and Small and Micro Enterprise Development Ministry of Public Utilities Ministry of Local Government Ministry of Works and Transport Ministry of Sport and Youth Affairs Ministry of Foreign Affairs Ministry of Science, Technology and Tertiary Education Ministry of Information (Government Printery) Ministry of Trade and Industry TOTAL 73 6 4 4 3 4 2 5 8 12 1 2 1 6 1 21 4 1 1 159 175 Auditor General’s Report 2009 APPENDIX 7 Particulars of Deposits that have not been transferred to revenue after three (3) years (Paragraph 2.100 of the Report refers) Ministry/Department No.
of Accounts Amount $ Judiciary Mayaro Ministry of Finance 1 148.50 Inland Revenue Comptroller of Accounts Elections and Boundaries Commission Ministry of Legal Affairs 6 18 1 1 Ministry of Agriculture, Land and Marine Resources 2 Ministry of Public Utilities Ministry of Energy and Energy Industries Ministry of Sport and Youth Affairs Ministry of Public Administration Ministry of Labour and Small and Micro Enterprise Development TOTAL 1 4 2 3 3 42 803.76 163,329,971.22 186.45 840,164.53 1,091,700.67 104,700.00 98,919,563.84 7,897.69 37,418,268.84 688,747.24 302,402,152.74 176 Auditor General’s Report 2009 APPENDIX 8 Cases of Overpayments and Recoveries Reflected in the 2009 Appropriation Accounts received as at 2010 February 26 (Paragraph 2.102 of the Report refers) HEAD MINISTRY/DEPARTMENT NO.
OF CASES AMOUNT OVERPAID $ AMOUNT RECOVERED $ 01 03 04 05 06 07 08 09 11 12 13 15 16 17 18 President Judiciary Industrial Court Parliament 2 34 12 43 649.67 649.67 98,443.58 16,880.93 25,013.41 25,013.41 122,567.93 122,567.93 Service Commissions 177 92,312.41 59,460.15 Statutory Authorities Service Commission NIL 0.00 0.00 Elections and Boundaries Commission 91 80,482.91 47,803.69 Tax Appeal Board Registration Recognition and Certification Board Public Service Appeal Board Office of the Prime Minister Tobago House of Assembly Central Administrative Services, Tobago Personnel Department Ministry of Finance - Customs and Excise Division - Inland Revenue and Valuation Divisions - Treasury Division 2 2 NIL 63 NIL 9 10 51 166 66 1,341.00 377.38 101.00 373.35 0.00 0.00 45,604.24 27,210.34 0.00 0.00 6,497.06 1,932.86 15,223.85 12,457.19 131,886.31 313,964.16 83,339.80 192,732.10 146,997.01 62,864.68 20 Pensions and Gratuities - Works and Transport 17 36,792.05 5,792.18 Carried Forward 800 1,118,152.97 659,179.28 177 Auditor General’s Report 2009 APPENDIX 8 (cont’d) HEAD MINISTRY/DEPARTMENT NO.
OF CASES AMOUNT OVERPAID $ AMOUNT RECOVERED $ Brought Forward 800 1,118,152.97 659,179.28 21 Ministry of Planning, Housing and the Environment 22 Ministry of National Security 55 160,905.35 86,167.04 - General Administration - Fire Service - Prison Service - Police Service - Regiment - Coast Guard - Immigration - Forensic Science Centre - Office of Disaster Preparedness and Management - Forensic Science Centre 23 24 25 26 28 30 31 35 37 38 Ministry of the Attorney General Ministry of Legal Affairs Ministry of Agriculture, Land and Marine Resources Ministry of Education Ministry of Health Ministry of Labour and Small and Micro Enterprise Development Ministry of Public Administration Ministry of Tourism - General Administration - LifeGuard Services Integrity Commission Environmental Commission Carried Forward 3,655 16,467,062.88 5,743,925.33 178 Auditor General’s Report 2009 APPENDIX 8 (cont’d) HEAD MINISTRY/DEPARTMENT NO.
OF CASES AMOUNT OVERPAID $ AMOUNT RECOVERED $ Brought Forward 3,655 16,467,062.88 5,743,925.33 39 40 Ministry of Public Utilities Ministry of Energy and Energy Industries 42 Ministry of Local Government 43 46 47 Ministry of Works and Transport Ministry of Sport and Youth Affairs Ministry of Foreign Affairs 48 Ministry of Trade and Industry 13 21 18 199 13 17 13 38,333.71 7,034.83 70,668.47 29,648.78 64,169.90 30,298.03 273,125.39 142,359.81 60,764.43 4,825.01 34,418.08 14,412.47 41,815.16 39,836.95 54 55 56 57 Ministry of Science, Technology and Tertiary Education Ministry of Community Development, Culture and Gender Affairs 754 1,973,491.14 1,955,502.90 52 186,127.31 36,330.62 Ministry of Social Development 860 2,226,570.75 674,795.81 Ministry of Information 7 87,180.88 10,073.84 TOTAL 5,622 21,523,728.10 8,689,044.38 179 Auditor General’s Report 2009 APPENDIX 9/1 Cases of Theft and Losses – Less than or equal to $5,000.00 New cases reported and still outstanding as at 2009 September 30 (Paragraph 2.104 of this Report refers) MINISTRY/DEPARTMENT NO.
OF CASES AMOUNT $ Attorney General Judiciary Legal Affairs Education National Security Works and Transport Public Administration Science, Technology and Tertiary Education Agriculture, Land and Marine Resources Central Administrative Services, Tobago Information Local Government TOTAL 3 1 1 19 3 3 1 2 4 6 1 2 3,882.00 200.00 895.00 104,076.19 987.30 12,254.00 1,500.00 2,957.85 9,398.33 10,555.00 0.00 2,510.00 46 149,215.67 180 Auditor General’s Report 2009 APPENDIX 9/2 Cases of Theft and Losses – More than $5,000.00 New cases reported and still outstanding as at 2009 September 30 (Paragraph 2.104 of this Report refers) MINISTRY/DEPARTMENT NO.
OF CASES Foreign Affairs Community Development, Culture and Gender Affairs National Security Works and Transport Public Administration Science, Technology and Tertiary Education Education Health Labour and Small and Micro Enterprise Development Public Utilities Agriculture, Land and Marine Resources Legal Affairs Attorney General Tobago House of Assembly Local Government Finance Social Development TOTAL AMOUNT $ Auditor General’s Report 2009 APPENDIX 10 Schedule showing differences between revenue collected as reflected in the Statement of Revenue and the respective Statements of Receipts and Disbursements (Paragraph 3.05 of the Report refers) Receiver of Revenue Permanent Secretary Ministry of Agriculture, Land and Marine Resources - AL 1 Chief Election Officer, Elections and Boundaries Commission - EB 1 Statement of Revenue $ Statement of Receipts and Disbursements $ Difference $ 9,260,190.16 11,434,536.13 2,174,345.97 322,494.00 308,390.00 14,104.00 Chairman, Board of Inland Revenue - FN 2 28,232,128,722.87 28,239,780,277.07 7,651,554.20 Chief Magistrate Judiciary Magistracy - JM 1 Permanent Secretary, Ministry of Health - HE 1 Permanent Secretary, Ministry of Public Utilities - PU 1 Director of Statistics, Ministry of Planning, Housing and The Environment - PH 2 Permanent Secretary, Ministry of Information - IN 1 Permanent Secretary, Ministry of Public Administration - PA 1 Permanent Secretary, Ministry of National Security - NS 1 Chief Immigration Officer, Ministry of National Security - NS 2 28,607,730.61 28,601,950.61 5,780.00 3,016,272.63 2,995,738.64 20,533.99 154,454,012.77 154,454,637.77 625.00 95,414.00 95,244.00 170.00 380,956.46 379,764.46 1,192.00 313,690.08 312,922.08 768.00 34,015,402.06 34,082,083.67 66,681.61 50,143,116.93 51,396,622.52 1,253,505.59 Commissioner of Police, Ministry of National Security - NS 3 Permanent Secretary, Ministry of Sport and Youth Affairs – SY 1 4,814,059.59 4,710,499.22 4,811,119.59 2,940.00 4,723,464.71 12,965.49 182 Auditor General’s Report 2009 APPENDIX 11 Revenue Items for which Return of Arrears of Revenue as at 2009 September 30 were not received (Paragraph 3.14 of the Report refers) Receiver of Revenue Head/ Sub Head Item No.
of Items Permanent Secretary Ministry of Agriculture, Land and Marine Resources - AL1 03/06 07/01 07/04 Director of Surveys Ministry of Agriculture, Land and Marine Resources – AL2 Commissioner of State Lands Ministry of Agriculture, Land and Marine Resources – AL3 Permanent Secretary Ministry of Community Development, Culture and Gender Affairs - CDI Chief Election Officer Elections and Boundaries Commission – EB1 Permanent Secretary Ministry of Foreign Affairs – FA1 Chairman Board of Inland Revenue Ministry of Finance – FN 2 Registrar Industrial Court – IC1 07/04 06/01 06/06 07/01 09/02 06/01 07/04 07/06 07/04 07/01 07/06 01/05 01/09 03/06 05/01 07/01 07/02 07/04 001 – 007 001-010 001, 004-006, 008- 010, 012, 014, 016- 021 001 - 004 001 -003, 005- 006 001, 004 002 -007 001 001 001-002 002 002 002, 004 001 05, 09 001,004-006, 019-020 - 001-003 001 001 Permanent Secretary, Ministry of Information – IN 1 07/01 003 Carried forward 32 4 14 4 1 3 12 2 1 73 183 Auditor General’s Report 2009 APPENDIX 11 (cont’d) Receiver of Revenue Head/ Sub Head Item Brought forward Chief Magistrate Judiciary – Magistracy – JM1 Registrar Judiciary – Supreme Court – JS 1 Controller, Intellectual Property Office Ministry of Legal Affairs – LA 2 Permanent Secretary Ministry of Legal Affairs – LA 3 Permanent Secretary Ministry of National Security – NS 1 Chief Fire Officer Ministry of National Security – NS4 Permanent Secretary Ministry of Public Administration –PA 1 Permanent Secretary Ministry of Public Administration – PA3 Permanent Secretary Ministry of Planning, Housing and the Environment – PH 1 Director of Statistics Ministry of Planning, Housing and the Environment – PH 2 Permanent Secretary Ministry of Public Utilities - PU 1 03/04 03/06 07/01 07/02 07/06 03/06 07/01 07/02 07/04 001-002 002-010 001-004 001-005 001 001 001-004 001-002 001 07/01 001 07/01 001-002 07/04 001 07/01 001-002 03/06 07/01 06/01 06/06 09/02 06/06 07/04 08/03 07/01 03/06 07/01 07/06 001 001, 004 001-003 001 001-002 001, 003 001-002 003 001-002 007 003- 005 001-002 Registrar Tax Appeal Board – TA 1 07/04 001 No.
of Items 73 21 8 1 2 1 2 3 6 5 2 6 1 Carried forward 131 184 Auditor General’s Report 2009 APPENDIX 11 (cont’d) Receiver of Revenue Head/ Sub Head Item Brought forward Permanent Secretary Ministry of Works and Transport - WT 1 Director of Personnel Administration Service Commissions Department – SC1 Permanent Secretary Ministry of Science, Technology and Tertiary Education –ST 1 TOTAL ITEMS 03/06 001 07/01 001 07/01 001-003 No.
of Items 131 1 1 3 136 185 Auditor General’s Report 2009 186 Auditor General’s Report 2009