CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER,2003. (ABRIDGED VERSION)
A. GROSS REVENUE ACCRUED TO THE STATE
NOTE
1. Capital Development Fund Brought Forward 1,499,990,452.20
2. Statutory Allocation From Federation Accounts 1 8,757,270,467.43
3. Value Added Tax 2 1,289,227,467.37
4. Fund from Excess Crude Oil Account 3 277,394,458.95
5. Loan/Call paper 4 1,470,334,000.00
6. Internally Generated Revenue/Others 5 744,507,058.10
7. Capital Receipts 6 500,000,000.00
TOTAL 14,538,723,904.05
B. EXPENDITURE
1. Salary and Allowances 7 4,091,950,312.61
2. Pensions and Gratuity 8 613,637,754.50
3. Other Charges 9 1,100,786,404.62
4. Capital Expenditure 10 2,348,933,328.65
5. Subvention to Parastatals and Tertiary Institutions 11 1,903,381,920.31
6. Servicing of Inherited Loans 12
- Contractual obligation 1,644,000,000.00
- Loan repayment and Interest: Local 1,929,201,228.51
- Loan repayment and Interest: Foreign 389,561,614.18
- Processing fee on Loan 14,000,000.00
7. Capital Development fund carried Forward 503,271,340.67
14,538,723,904.05
Signed:
D.T. Ibikunle
Acting Accountant General
Office of the Accountant General
Ado-Ekiti
26TH April, 2004
AUDITOR CERTIFICATE
The financial Summary of Ekiti State for the year 2003 (1st January to 31st December, 2003) has been examined in accordance with section125920 of the Constitution of the federal republic of Nigeria.
I have obtained all the information and explanations that I required and I certify, subject to audit Inspection report issued for the attention of the honourable commissioner for finance and the accountant general, that in my opinion and to the best of my knowledge and belief, the annexed Financial Summary gives a true and fair view of the transaction of the government of Ekiti State of Nigeria for the period.
Office of the Auditor General, Signed:
P.M.B. 5354, A. G. Ajayi
Ado-Ekiti Auditor General
Ekiti State
26th April, 2004
Directorate of Information Technology, Ekiti State, Nigeria.