Appendix G: Net Worth

Notes Rs M Rs M Rs M Rs M Notes Rs M Rs M Rs M Rs M (Restated) (Restated) Liabilities: (Restated) (Restated) Borrowings: - Short-Term 9(i) 38,016 33,724 - Medium-Term 9(i) 52,338 49,381 - Long-Term 9(i) 166,315 256,669 159,505 242,610 - 2 129,311 126,988 Other Liabilities: Non-Produced Assets - Deposits and Deferred Income 9(ii) 2,172 1,790 - Land 3 339,068 338,420 - Accrued Passage Benefit 9(iii) 2,645 2,516 - Public Service Pension Inventories 4 1,626 1,636 Obligations 9(iv) 109,030 118,964 - Sick Leave Liability 9(v) 6,189 5,631 - Vacation Leave Liability 9(vi) 157 152 Financial Assets - IMF SDR Allocations 7 4,639 4,804 - Cash and Bank Balances 5(i) 25,842 27,854 - Accounts Payable 9(vii) 4,969 4,529 - Investments 5(ii) 22,091 17,343 129,801 138,386 - Advances 5(iii) 3,451 3,036 - Loans 5(iv) 11,005 11,791 - Arrears of Revenue 6 9,910 8,179 - IMF SDR Deposit 7 3,399 3,519 - 8 1,206 76,904 2,036 73,758 160,439 159,806 546,909 540,802 546,909 540,802 Notes: 1 2 3 4 5 (i) (ii) (iii) (iv) 6 7 8 9 Financial Assets are taken from the Annual Financial Statements of the Government. Arrears of Revenue represents amounts due and receivable as at 30 June 2017. IMF SDR Deposit and IMF SDR Allocations respectively represent international reserve assets (SDR Holdings) allocated to the Republic of Mauritius by the IMF and the related obligations which arise through participation of the country in the SDR Department of the IMF. The figures for IMF SDR Deposit and IMF SDR Allocations shown in the statement represent the MUR equivalent of the respective balances in SDR as at 30 June 2017. IMF Reserve Tranche Position represents that portion of the quota of the Republic of Mauritius in IMF that has been paid in reserve assets, i.e SDRs or foreign currency acceptable to the IMF. As at 30 June 2017, the Reserve Tranche Position of the Republic of Mauritius with IMF stood at SDR 25,154,380 whilst the Quota amounted to SDR 142,200,200. Liabilities are taken from the Annual Statements of the Government, except for Accrued Passsage Benefit, Pension Liability, Sick Leave Liability and Vacation Leave Liability. Investments comprise of government's investments in shares and equity stated at cost price, and bank deposits. Cash and Bank Balances includes balances held in foreign currencies which have been translated at year-end exchange rates. The above Statement of Net Worth is in respect of Budgetary Central Government which comprises of only Ministries and Government Departments. The statement has been prepared in accordance with generally accepted accounting principles and under the accrual basis of accounting. The Fixed Assets figure has been estimated by Statistics Mauritius using the Perpetual Inventory Method which includes Intangible Assets and excludes assets (such as furniture) acquired under a recurrrent expenditure item. The figure is net of accumulated capital The value of Land has been calculated using the total acreage figure of State Lands and the estimated market value as at 31 December 2009 obtained from the Ministry of Housing and Lands plus the cost of acquisitions made during the period 01 January 2010 to 30 June Inventories represents the cost of consumable goods held by Ministries/Departments. Table G1: Statement of Net Worth as at 30 June 2017 30-Jun-17 30-Jun-16 30-Jun-17 30-Jun-16 Assets: Non-Financial Assets Fixed Assets: Total Liabilities Buildings, Property, Plant and Equipment 380,996 Net Worth Total Assets Total Liabilities & Net Worth 386,470 IMF Reserve Tranche Position Advances represents advances made under the authority of warrants issued under Section 6(1) of the Finance and Audit Act and are recoverable within specific periods. Loans represents the outstanding balance of loans made by Government to Statutory and Other Bodies. APPENDIX G: NET WORTH 393 (i) (ii) (iii) (iv) (v) (vi) (vii) 10 (i) (ii) (iii) Vacation Leave Liability represents the amount payable to public officers who are expected to retire in the course of the next financial year. Borrowings are shown at cost. Long-Term Borrowings as at 30 June 2017 includes a sum of Rs 41,245M, which represents external loans balances translated at year-end exchange rates. Deposits and Deferred Income comprise of Grants, Donations, Other Deposits and Premium on Government Bonds and Treasury Notes. Accrued Passage Benefit represents the estimated liability of the Government in respect of passage benefits accrued to public officers on permanent and pensionable establishment drawing a minimum monthly salary of Rs 25,525 or reckoning at least five years' service. Passage benefits are earned at the rate of 5% of the gross salaries annually. Public Service Pension Obligations represents the estimated pension obligations of Government in respect of public officers who joined service before 01 January 2013 and public service pensioners. Sick Leave Liability represents the monetary value of both the "bank" sick leave and the annual sick leave due to serving officers. the reclassification of Premium on debt instruments from Accounts Payable to Deposits and Deferred Income for the year ended 30 June 2016. Accounts Payable comprises of interest payable on Government Debt and capital expenditure carried over in accordance with the Finance and Audit Act. an adjustment in respect of capital repayment amounting to Rs 1,145M under Arrears of Revenue as at 30 June 2016; remeasurement of the Long-Term Borrowings at cost instead of nominal value; and The restatements for the year ended 30 June 2016 relate to: APPENDIX G: NET WORTH 394