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FINANCIAL INFORMATION-HISTORICALSTATEMENT OF SIGNIFICANT ACCOUNTING POLICIESThe following are the significant accounting policies adopted by the State Government in its preparation ofthe financial statements:1 Basis of Accounting 1The accounts have been prepared under the cash basis of accounting except as modified to accommodatethe disclosure of outstanding long term obligations and investments. This means that transactions arerecorded only when monies are received and paid within the given period, whether or not the receipts andpayments are in respect of goods supplied or services rendered during that period and whether they relateto recurrent or capital expenditure or revenue.2 Investments 3Investments held under Ministry of Finance Incorporated (“MOFI”) are stated at cost. Investments whichform part of Capital Development Fund which are expensed under the cash basis of accounting are restatedand disclosed in the statement of assets and liabilities.3 Long Term Loans 3Long term internal and external loans written off under the cash basis of accounting are re-stated in thestatement of assets and liabilities to accommodate their full disclosure in line with the standardisedreporting format for Federal, States and Local governments4 Capital CostIn line with the cash basis of accounting, capital expenditures are recognised in the year of occurrenceonly. No cumulative value of fixed assets and depreciation are disclosed in the financial statements.1 The State’s historical accounts have been adjusted where stated accounting policies do not align with generally accepted accounting practice for thepublic sector.60
FINANCIAL INFORMATION-HISTORICALSTATEMENT OF ASSETS AND LIABILITIES AS AT:Sept. 2010Dec.2009Dec.2008Dec.2007Dec.2006Dec. 2005Notes N'm N'm N'm N'm N'm N'mASSETSCash & other liquidassets1 17,595(4,623)7,773 11,938 6,800 802Contributory pension yetto be remitted (cash)1,922 10,230 6,456 - - -Other balances 2 - - 649 751 1,312 1,330Investments 3 6,552 5,774 5,774 5,441 24,844 36,316Loans and advances 4 4,208 3,428 2,928 1,637 1,446 2,38730,277 14,809 23,580 19,767 34,402 40,835LIABILITIESCapital developmentfund5 20,335 4,841 13,431 6,827 24,486 30,707Deposit for shares 6 - - - 3,075 - -Special deposit accounts 7 4 4 4 4 4 4Other government funds 9,599 9,599 9,599 9,599 9,599 9,599Treasury clearanceaccounts8 339 365 546 262 313 52530,277 14,809 23,580 19,767 34,402 40,83561
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DEFINITIONSUnless the context other
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DEFINITIONS“Revenue”“SEC” o
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ISSUE OF PRICING SUPPLEMENTS (SUPPL
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Page 30 and 31: INFORMATION ON NIGERIANational Asse
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Page 38 and 39: INFORMATION ON NIGERIAThe Asset Man
Page 40 and 41: INFORMATION ON DELTA STATEDelta Sta
Page 42 and 43: INFORMATION ON DELTA STATETOPOGRAPH
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Page 46 and 47: INFORMATION ON DELTA STATE Inadequa
Page 48 and 49: INFORMATION ON DELTA STATEBrief Pro
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Page 52 and 53: INFORMATION ON DELTA STATEPaulinus
Page 54 and 55: INFORMATION ON DELTA STATEMr. Ifean
Page 56 and 57: RISK AND MITIGATING FACTORS FOR THE
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Page 62 and 63: FINANCIAL INFORMATION-HISTORICALSTA
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Page 76 and 77: The balances for 31 December 2010 r
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Page 80 and 81: BOND RATING (EXTRACTED FROM THE RAT
Page 82 and 83: STATUTORY AND GENERAL INFORMATIONIN
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Page 86 and 87: FORM OF PRICING SUPPLEMENTSet out b
Page 88 and 89: FORM OF PRICING SUPPLEMENT17. Float
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