Annual Report 2008 - Ministry of Finance and Planning

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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
8. Financial Statements - 2008 313 A) STATEMENT OF BANK GUARANTEES ISSUED BY THE TREASURY UP TO 31.12.2008. (Contd.) 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) 18 Mihin Lanka (Pvt) Ltd. Bank of Ceylon 250.00 2007.04.16 2009.10.16 248.52 19 Ipologama Housing Project Bank of Ceylon 2,268.00 2007.07.27 2009.07.27 898.68 20 West Coast Power (Pvt) Ltd. Hongkong & Shanghai Banking Co. 11,060.00 2007.06.28 2022.06.28 11,060.00 21 State Trading (Co-operative Whole) Company Ltd. People’s Bank 113.14 2008.03.13 2009.03.11 90.18 22 Ceylon Electricity Board People’s Bank 4,116.00 2008.05.07 2023.03.03 4,116.00 23 Ceylon Electricity Board People’s Bank 1,675.19 2008.06.11 2023.10.09 1,675.19 24 Ceylon Petrolem Coporation People’s Bank 79,198.00 2008.09.09 2009.12.31 63,675.19 25 Ceylon Electricity Board People’s Bank 2,572.44 2008.09.29 2011.12.31 2,572.44 Total 127,982.60 110,309.05 (B) STATEMENT OF LETTERS OF COMFORT ISSUED TO LOCAL BANKS AND THE LIABILITY AS AT 31.12.2008 Total Value of Letters of Liability as at Comfort Date of 31.12.2008 S. No. Name of Institution Name of Bank Currency Issued Issue (Rs. in Million) 1 Sri Lanka Air Force People’s Bank USD 19.21 21.12.2004 1,141.35 2 Sri Lanka Air Force People’s Bank USD 10.33 08.07.2005 226.59 3 Sri Lanka Air Force People’s Bank USD 5.15 11.07.2005 251.39 4 Sri Lanka Air Force People’s Bank USD 13.98 17.08.2006 520.49 5 Sri Lanka Air Force People’s Bank USD 1.18 28.12.2006 38.87 6 Sri Lanka Air Force People’s Bank USD 2.10 17.09.2007 193.56 7 Sri Lanka Air Force People’s Bank USD 46.86 19.09.2007 3,589.15 8 Sri Lanka Air Force People’s Bank USD 0.90 11.06.2008 103.62 9 Sri Lanka Air Force People’s Bank USD 5.58 30.06.2008 641.21 10 Sri Lanka Air Force People’s Bank USD 8.52 24.09.2008 979.41 11 Sri Lanka Air Force People’s Bank USD 8.50 24.12.2008 977.50 12 Sri Lanka Navy Bank of Ceylon USD 29.50 10.05.2005 1,594.48 13 Sri Lanka Navy Bank of Ceylon USD 6.24 18.10.2006 356.04 14 Sri Lanka Navy Bank of Ceylon USD 2.81 20.04.2007 157.48 15 Sri Lanka Navy Bank of Ceylon Euro 3.62 06.06.2007 28.40 16 Sri Lanka Navy Bank of Ceylon USD 0.72 06.06.2007 4.14 17 Sri Lanka Navy Bank of Ceylon USD 4.84 14.06.2007 389.91 18 Sri Lanka Navy Bank of Ceylon USD 2.55 18.03.2008 293.80 19 Sri Lanka Navy Bank of Ceylon USD 3.05 18.03.2008 350.49 20 Sri Lanka Navy Bank of Ceylon USD 1.23 13.10.2008 141.59 21 Sri Lanka Navy Bank of Ceylon USD 46.77 11.12.2008 5,378.55 22 Sri Lanka Army Bank of Ceylon USD 41.84 20.06.2007 3,866.46 23 Sri Lanka Army Bank of Ceylon USD 45.04 31.07.2007 2,838.95 24 Sri Lanka Army Bank of Ceylon USD 5.51 22.08.2008 633.30 25 Sri Lanka Army Bank of Ceylon USD 2.05 18.11.2008 235.98 Total 318.07 24,932.70 Ministry of Finance and Planning Sri Lanka Annual Report 2008
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2008 Annual Report Ministry of Fina
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2 This Report is Published in terms
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4 Heads of Treasury Departments (as
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6 Heads of Statutory Boards / State
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8 Contents Chapter 1 - Macro Econom
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10 Contents Contd. Table 3.9 - Key
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12 Contents Contd. Table 7.8 - Valu
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14 Contents Contd. Chart 3.1 - Accu
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16 Sri Lanka at a Glance - 2008 KEY
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18 Sri Lanka at a Glance - 2008 Con
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1. Macro Economic Perspectives 20 E
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1. Macro Economic Perspectives 22 T
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1. Macro Economic Perspectives 24 O
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1. Macro Economic Perspectives 26 C
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1. Macro Economic Perspectives 30 G
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1. Macro Economic Perspectives 32 M
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1. Macro Economic Perspectives 36 W
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1. Macro Economic Perspectives 38 B
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1. Macro Economic Perspectives 40 B
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1. Macro Economic Perspectives 42 L
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1. Macro Economic Perspectives 44 i
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2. Fiscal Developments - 2008 46 An
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2. Fiscal Developments - 2008 48 Ta
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2. Fiscal Developments - 2008 50 Go
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2. Fiscal Developments - 2008 100 B
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2. Fiscal Developments - 2008 106 I
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2. Fiscal Developments - 2008 114 P
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2. Fiscal Developments - 2008 134 D
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138 Ministry of Finance and Plannin
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3. Performance of Public Enterprise
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4. Reform Initiatives 174 An Overvi
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4. Reform Initiatives 176 also prov
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4. Reform Initiatives 178 Finance/R
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4. Reform Initiatives 180 Environme
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4. Reform Initiatives 182 Pradeshiy
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4. Reform Initiatives 184 SALIENT F
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4. Reform Initiatives 186 The Credi
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4. Reform Initiatives 188 Name of t
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4. Reform Initiatives 190 Project P
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4. Reform Initiatives 192 TERMS OF
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4. Reform Initiatives 194 Table 4.8
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4. Reform Initiatives 196 grounds,
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5. Foreign Financing of the Budget
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6. A Sectoral Perspective 236 An Ov
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6. A Sectoral Perspective 240 Agric
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6. A Sectoral Perspective 242 Shift
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6. A Sectoral Perspective 250 Lives
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6. A Sectoral Perspective 254 Box 6
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7. Development Finance 260 An Overv
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Annual Report 2008 - Ministry of Finance and Planning

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