Annual Report 2008 - Ministry of Finance and Planning

8. Financial Statements - 2008
312
Notes to Financial Statements Contd.
Explanatory Note on Note- 28
Accumulated Total Investment and Accumulated Revenue Deficit
There are difficulties for making a presentation of the composition of the figure in the Statement of Financial Position by giving the accumulated
revenue deficit prior to 2004 separately as that figure could not be ascertained for this newly designed formats, introduced in 2006 in respect of
2005 as relevant information had not been compiled.
Total investments in physical assets includes the accumulated value of property, plant and equipment held by Ministries, Departments and
Statutory Boards, at cost.
Among other physical assets held in the form of property, plant and equipment, major items included are the accumulated value of physical assets
of the infrastructure facilities provided by the State over the years in Transport, Irrigation, Health, Education etc., at cost.
Therefore, there are difficulties associated in presenting the detailed itemized composition of such assets held by or prevailed under the supervision
of the relevant Ministries, Departments and other Institutions as a detailed system of documentation and information had not been maintaining to
itemize the total value of the such assets, in the Cash Based Accounting System adopted.
Total accumulated depreciation on those assets is also not calculated in the Cash Based Accounting System.
However for the fulfillment of requirements on the accountability on those physical assets in property, plant and equipment held by Ministries and
Departments, specially in respect of movable physical assets, Annual Verification Procedure is followed for reporting the position to the Auditor
General in terms of provisions in Section 3 of Chapter XIII of Government Financial Regulations, for securitization.
Note - 29 : Statement of Contingent Liabilities
(A) STATEMENT OF BANK GUARANTEES ISSUED BY THE TREASURY UP TO 31.12.2008.
GUARANTEE
CAPITAL
NAME OF NAME OF BANK AMOUNT DATE OF DATE OF OUTSTANDING
S. NO: INSTITUTION OR INSTITUTION (Rs. Million) ISSUE EXPIRY (Rs. in Million)
1 Merchant Bank of Sri Lanka Employee’s trust Fund Board 430.00 2008.01.10 2010.01.10 430.00
2 Lakdanavi Ltd. West Coast Power (Pvt.) Ltd. Employee’s trust Fund Board 2,992.00 2007.03.01 2022.03.31 2,992.00
3 Merchant Bank of Sri Lanka National Saving Bank 400.00 2002.12.27 2009.12.05 400.00
4 Urban Development Authority National Saving Bank 500.00 1999.08.17 2010.07.01 87.50
5 Lakdanavi Ltd. West Coast Power (Pvt) Ltd. National Saving Bank 2,992.00 2007.02.22 2022.03.31 2,992.00
6 Co-operative Whole Sale Establishment People’s Bank 407.10 2005.02.02 2009.07.31 207.10
7 Sri Lanka Consumer
Co-operative Societies Federation Ltd. People’s Bank 50.00 2006.07.31 2009.07.31 50.00
8 Ceylon Petrolem Coporation People’s Bank 17,000.00 1995.04.26 2001.12.31 17,000.00
9 Grayline International (Pvt) Ltd. People’s Bank 351.00 1994.08.11 1996.08.08 351.00
10 Sri Lanka Consumer
Co-operative Societies Federation Ltd. People’s Bank 50.00 2007.12.03 2009.03.30 50.00
11 Sri Lanka Co-operative Marketing Federation People’s Bank 113.14 2007.12.06 2008.02.29 113.14
12 Sri Lanka Co-operative Marketing Federation People’s Bank 305.48 2007.12.06 2008.02.29 305.48
13 Overseas Reality Ceylon (Pvt) Ltd. SR &CC & Terriorism Fund 500.00 2000.02.14 2007.12.31 445.83
14 Galadari Hotel Lanka Ltd. SR &CC & Terriorism Fund 350.00 2000.02.14 2007.12.31 350.00
15 Hospitality International (Pvt) Ltd. SR &CC & Terriorism Fund 7.03 2000.02.14 2007.12.31 4.22
16 Galadari Hotel Lanka Ltd. SR &CC & Terriorism Fund 45.83 2000.02.14 2007.12.31 45.83
17 Hotel Developer’s Lanka Ltd. SR &CC & Terriorism Fund 236.25 2000.02.14 2007.12.31 148.75
Ministry of Finance and Planning Sri Lanka
Annual Report 2008