REPORTS ON PLANS AND PRIORITIES VOLUME 3 Adopted by the Nevis Island Administration on Wednesday December 9th, 2009 FINANCIAL SUMMARY 2010 2010 Estimates 2009 Estimates 2008 Actual CURRENT ESTIMATES Current Revenue 101,446,000 121,756,500 112,073,984 Current Expenditure 125,830,000 117,687,000 116,012,184 Surplus/Deficit (24,384,000) 4,069,500 (3,938,200) CAPITAL ESTIMATES Capital Revenue Loans 17,574,544 19,000,000 12,040,153 Development Aid 1,817,272 1,446,059 - 19,391,816 20,446,059 12,040,153 Capital Expenditure Revenue 18,325,473 15,250,000 10,106,018 Loans 17,574,544 19,000,000 12,040,153 Development Aid 1,817,272 1,446,059 - 37,717,289 35,696,059 22,146,171 Surplus/Deficit (Current Account) (24,384,000) 4,069,500 (3,938,200) Surplus/Deficit (Capital Account) (18,325,473) (15,250,000) (1,934,135) Total Surplus/ (Deficit) (42,709,473) (11,180,500) (19,565,715) 1 SUMMARY OF TOTAL BUDGET Ministries Recurrent Transfer Capital Revenue DEPUTY GOVERNOR GENERAL 316,000 - - - LEGISLATURE 642,000 45,000 - - AUDIT 327,000 - - - LEGAL 871,000 - 60,000 180,000 PREMIER'S MINISTRY 4,396,000 14,000 2,830,000 1,724,000 MINISTRY OF FINANCE, STATISTICS & ECONOMIC PLANNING 59,707,000 - 1,250,000 84,608,000 MINISTRY OF COMMUNICATIONS, WORKS, PUBLIC UTILITIES, POSTS, PHYSICAL PLANNING, NATURAL RESOURCES AND ENVIRONMENT 9,655,000 35,000 16,560,000 6,522,000 MINISTRY OF AGRICULTURE, LANDS COOPERATIVES & FISHERIES 4,693,000 9,000 1,255,000 746,000 MINISTRY OF HEALTH 12,654,000 650,000 3,124,000 1,695,000 MINISTRY OF TOURISM 1,445,000 902,000 294,000 1,000 MINISTRY OF EDUCATION & LIBRARY SERVICES 16,956,000 140,000 2,304,000 165,000 HUMAN RESOURCES 2,738,000 - - - MINISTRY OF SOCIAL DEVELOPMENT, SPORTS AND COMMUNITY DEVELOPMENT 3,784,000 755,000 9,840,000 - MINISTRY OF TRADE, INDUSTRY & CONSUMER AFFAIRS 5,096,000 - 200,000 5,806,000 TOTALS 123,280,000 2,550,000 37,717,000 101,446,000 2 SUMMARY OF RECURRENT EXPENDITURE 2010 2009 Increase/ Ministries Estimates Estimates Decrease % Change DEPUTY GOVERNOR GENERAL 316,000 320,000 (4,000) (1.25) LEGISLATURE 687,000 687,000 - 0.00 AUDIT 327,000 463,000 (136,000) (29.37) LEGAL 871,000 808,000 63,000 7.80 PREMIER'S MINISTRY 4,410,000 4,278,000 132,000 3.09 MINISTRY OF FINANCE, STATISTICS & ECONOMIC PLANNING 59,707,000 49,515,000 10,192,000 20.58 MINISTRY OF COMMUNICATIONS, WORKS, PUBLIC UTILITIES, POSTS, PHYSICAL PLANNING, NATURAL RESOURCES AND ENVIRONMENT 9,690,000 10,495,000 (805,000) (7.67) MINISTRY OF AGRICULTURE, LANDS COOPERATIVES & FISHERIES 4,702,000 5,072,000 (370,000) (7.29) MINISTRY OF HEALTH 13,304,000 13,532,000 (228,000) (1.68) MINISTRY OF TOURISM 2,347,000 2,457,000 (110,000) (4.48) MINISTRY OF EDUCATION & LIBRARY SERVICES 17,096,000 17,659,000 (563,000) (3.19) HUMAN RESOURCES 2,738,000 2,760,000 (22,000) (0.80) MINISTRY OF SOCIAL DEVELOPMENT, SPORTS AND COMMUNITY DEVELOPMENT 4,539,000 4,567,000 (28,000) (0.61) MINISTRY OF TRADE, INDUSTRY & CONSUMER AFFAIRS 4,623,000 5,074,000 (451,000) 0.00 TOTALS 125,357,000 117,687,000 7,670,000 6.52 3 SUMMARY OF TOTAL REVENUES 2010 2009 Increase/ % Ministries Estimates Estimates Decrease Change DEPUTY GOVERNOR GENERAL - - - - LEGISLATURE - - - - AUDIT - - - - LEGAL 180,000 75,000 105,000 140.00 PREMIER'S MINISTRY 1,724,000 1,739,000 (15,000) (0.86) MINISTRY OF FINANCE, STATISTICS & ECONOMIC PLANNING 84,608,000 104,635,000 (20,027,000) (19.14) MINISTRY OF COMMUNICATIONS, WORKS, PUBLIC UTILITIES, POSTS, PHYSICAL PLANNING, NATURAL RESOURCES AND ENVIRONMENT 6,522,000 8,407,000 (1,885,000) (22.42) MINISTRY OF AGRICULTURE, LANDS COOPERATIVES & FISHERIES 746,000 857,000 (111,000) (12.95) MINISTRY OF HEALTH 1,695,000 1,793,000 (98,000) (5.47) MINISTRY OF TOURISM 1,000 1,500 (500) (33.33) MINISTRY OF EDUCATION & LIBRARY SERVICES 165,000 149,000 16,000 10.74 HUMAN RESOURCES - - - - MINISTRY OF SOCIAL DEVELOPMENT, YOUTHS, SPORTS AND COMMUNITY DEVELOPMENT - - - - MINISTRY OF TRADE, INDUSTRY & CONSUMER AFFAIRS 5,806,000 4,100,000 1,706,000 41.61 TOTALS 101,446,000 121,756,500 (20,309,500) (16.68) 4 EXPENDITURE, REVENUE AND CAPITAL SUMMARY STANDARD OBJECT CODES 2010 2009 Variation % Var RECURRENT EXPENDITURE 01-Personal Emoluments 38,252,823 38,714,848 -462,025 -1.19 02-Wages 14,712,469 14,831,964 -119,495 -0.81 03-Allowances 834,145 746,205 87,940 11.78 04-Retiring Benefits 4,500,000 4,500,000 0 0.00 05-Travel and Subsistence 1,385,200 1,434,980 -49,780 -3.47 06-Office and General Expenses 861,607 995,147 -133,540 -13.42 07-Supplies and Materials 6,257,175 6,679,100 -421,925 -6.32 08-Communications Expenses 912,000 1,083,600 -171,600 -15.84 09-Operating and Maintenance Services 1,962,792 1,913,350 49,442 2.58 10-Grants and Contributions - Grants 1,115,908 343,700 772,208 224.68 11-Commissions 100 500 -400 -80.00 12-Rewards and Incentives 69,500 179,500 -110,000 -61.28 13-Public Assistance 533,400 595,450 -62,050 -10.42 14-Purchase of Tools, Instruments, Equipment 435,625 541,800 -106,175 -19.60 15-Rental of Assets 988,270 1,178,220 -189,950 -16.12 16-Hosting and Entertainment 680,000 723,000 -43,000 -5.95 17-Training 2,580,700 2,808,400 -227,700 -8.11 18-Debt Servicing – Domestic Interest 22,000,000 10,000,000 12,000,000 120.00 19-Debt Servicing – Foreign Interest 16,000,000 16,000,000 0 0.00 20-Refunds 14,000 17,500 -3,500 -20.00 21-Professional and Consultancy Services 1,351,163 1,751,600 -400,437 -22.86 22-Insurance 700,000 750,000 -50,000 -6.67 23-Allowance to Unofficial Members 154,045 154,000 45 0.03 24-Constituency Allowance to Elected Members 120,000 120,000 0 0.00 25-Student Education Learning Fund (S.E.L.F) 35,000 45,000 -10,000 -22.22 26-Claims Against Government 75,000 75,000 0 0.00 27-Production and Marketing Expenses 456,200 1,022,400 -566,200 -55.38 28-Sundry Expenses 33,300 33,200 100 0.30 29-Contingency Fund 750,000 750,000 0 0.00 31-Utilities 5,510,000 7,017,000 -1,507,000 -21.48 123,280,422 115,005,464 8,274,958 -32 TRANSFER 2010 2009 Variation % Var 10-Grants and Contributions - Grants 2,540,700 2,672,000 -131,300 -4.91 13-Public Assistance 9,000 9,000 0 0.00 2,549,700 2,681,000 -131,300 -5 CAPITAL EXPENDITURE 2010 2009 Variation % Var 40-Consultancy Feasibility, Tendering and Specialist Costs 3,745,000 1,730,000 2,015,000 116.47 41-Wages 450,000 680,000 -230,000 -33.82 42-Supplies and Materials 1,445,000 1,540,000 -95,000 -6.17 44-Purchase of Equipment 1,765,000 1,385,000 380,000 27.44 45-Acquisition/Construction of Physical Assets 21,567,687 25,382,200 -3,814,513 -15.03 46-Other costs to be capitalised 2,675,000 3,083,859 -408,859 -13.26 47 Purchase of Assets 60,000 40,000 20,000 50.00 48 Renovation and Upgrade 5,659,403 1,305,000 4,354,403 333.67 49 Vehicles 350,000 250,000 100,000 40.00 37,717,090 35,396,059 2,321,031 499 5 RECURRENT REVENUE 2010 2009 Variation % Var Tax Revenue 50 - Taxes on International Trade and Transaction 34,819,040 38,883,150 -4,064,110 -10.45 51 - Taxes on Domestic Goods and Consumption 21,491,350 33,005,500 -11,514,150 -34.89 52 - Taxes on Income 12,983,500 13,415,000 -431,500 -3.22 53 - Taxes on Property 3,050,000 4,290,000 -1,240,000 -28.90 54 - Fees, Fines and Forfeiture 320,800 46,500 274,300 589.89 55 - Rent of Government Property 209,550 17,000 192,550 1,132.65 59 - Other Revenue 23,052,000 24,709,350 -1,657,350 -6.71 58 - Utilities (Water ) 5,520,000 7,390,000 -1,870,000 -25.30 101,446,240 121,756,500 -20,310,260 1,613 6 SUMMARY OF CAPITAL EXPENDITURE Development Total Capital Revenue Loans Aid by Ministry DEPUTY GOVERNOR GENERAL - - - LEGISLATURE - - - AUDIT - - - LEGAL 60,000 - - 60,000 PREMIER'S MINISTRY 1,480,000 1,350,000 - 2,830,000 MINISTRY OF FINANCE, STATISTICS & ECONOMIC PLANNING 1,250,000 - - 1,250,000 MINISTRY OF COMMUNICATIONS, WORKS, PUBLIC UTILITIES, POSTS, PHYSICAL PLANNING, NATURAL RESOURCES AND ENVIRONMENT 10,611,775 5,250,000 698,623 16,560,398 MINISTRY OF AGRICULTURE, LANDS COOPERATIVES & FISHERIES 605,000 650,000 - 1,255,000 - MINISTRY OF HEALTH 2,000,000 400,000 723,859 3,123,859 - MINISTRY OF TOURISM 40,000 254,423 - 294,423 MINISTRY OF EDUCATION & LIBRARY SERVICES 1,030,000 1,273,821 - 2,303,821 HUMAN RESOURCES - - - - MINISTRY OF SOCIAL DEVELOPMENT, SPORTS AND COMMUNITY DEVELOPMENT 1,048,698 8,396,300 394,790 9,839,788 MINISTRY OF TRADE & INDUSTRY & CONSUMER AFFAIRS 200,000 ` - 200,000 TOTALS 18,325,473 17,574,544 1,817,272 37,717,289 7 ESTIMATES 2010 NEVIS ESTIMATES Fiscal Operations (Economic Classification) In Millions of EC $ Act Jan - Proj.