You have just been posted to the Office of the Accountant General Expenditure Unit. The Unit is responsible for the consolidation of the Government of CR’s accounts. You have been asked to analyze the information given below in the Trial Balance of the Consolidated Fund for the year ended 31 December, 2023. Dr. ($m) Cr. ($m) Salaries – Established scale 6,760 Salaries – Division 1 & 2 2,010 Salaries - Division 3 230 Administration cost 3,350 Conferences & seminars 1,260 Foreign travel 750 Social benefits 1,040 Domestic debt interest 1,450 External debt interest 1,740 Purchase of vehicles 250 Purchase of equipment 410 Construction of infrastructure 560 Cash and bank 2,470 Sale of building 2,050 PAYE 7,330 Corporate tax 5,010 VAT 2,320 Fines 150 Fees 310 Fuel Levy 700 Grants 430 Treasury bills 11,120 Bonds 13,460 Euro Bond 7,460 Bilateral & multilateral debt 19,660 Other expenditure 2,960 Accumulated Fund 44,760 70,000 70,000 Additional information: The Current Chart of Accounts based on the GFS 2001 is used to classify revenues and expenditure. VAT of $50m was due to the Government but was not received by the Government as at December 31, 2023. A grant agreement signed in 2022 by the Government of CR and the French Embassy for the purchase of various medical supplies for CR’s Health Centre was received and paid for in 2023. Required: Using the information from the Trial Balance prepare the Statement of Financial Performance for the Consolidated Fund of the Government of CR for the year ended 31 December 2023. (Include workings)
You have just been posted to the Office of the Accountant General Expenditure Unit. The Unit is responsible for the consolidation of the Government of CR’s accounts. You have been asked to analyze the information given below in the Trial Balance of the Consolidated Fund for the year ended 31 December, 2023.
|
|
Dr. ($m) |
Cr. ($m) |
|
Salaries – Established scale |
6,760 |
|
|
Salaries – Division 1 & 2 |
2,010 |
|
|
Salaries - Division 3 |
230 |
|
|
Administration cost |
3,350 |
|
|
Conferences & seminars |
1,260 |
|
|
Foreign travel |
750 |
|
|
Social benefits |
1,040 |
|
|
Domestic debt interest |
1,450 |
|
|
External debt interest |
1,740 |
|
|
Purchase of vehicles |
250 |
|
|
Purchase of equipment |
410 |
|
|
Construction of infrastructure |
560 |
|
|
Cash and bank |
2,470 |
|
|
Sale of building |
|
2,050 |
|
PAYE |
|
7,330 |
|
Corporate tax |
|
5,010 |
|
VAT |
|
2,320 |
|
Fines |
|
150 |
|
Fees |
|
310 |
|
Fuel Levy |
|
700 |
|
Grants |
|
430 |
|
Treasury bills |
|
11,120 |
|
Bonds |
|
13,460 |
|
Euro Bond |
|
7,460 |
|
Bilateral & multilateral debt |
|
19,660 |
|
Other expenditure |
2,960 |
|
|
Accumulated Fund |
44,760 |
|
|
|
70,000 |
70,000 |
Additional information:
- The Current Chart of Accounts based on the GFS 2001 is used to classify revenues and expenditure.
- VAT of $50m was due to the Government but was not received by the Government as at December 31, 2023.
- A grant agreement signed in 2022 by the Government of CR and the French Embassy for the purchase of various medical supplies for CR’s Health Centre was received and paid for in 2023.
Required:
Using the information from the Trial Balance prepare the Statement of Financial Performance for the Consolidated Fund of the Government of CR for the year ended 31 December 2023. (Include workings)
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