S

1

F nd -

Sau," noCt1 Years

o

de

andS - •amoun

y

$1f4- 676.79

$ 8 3 8.31

$56 9 8.97

$58,801 92

ance 0Fund at end of

inancial Y ar

is held 'n Go ern

ad~e and T levis'on

a pI' nice.

added 0 e c

ye rs 1972/7

i

d

nc

n I'~d. 0 d 68'1 c rici ... .

19 rnd s i 1 Pide

1962'

giv n

nd c sh.

5 a 1ish d' 1955 u de La' 5Sec ion of the

ra1n~n st dards'orking condit'o 5

A prenticeship 0

a e s'n e ee made pre-

te n el .-- ot cchanic Tr

achinist nd Tu~ner ~-

lect 'ci a e Orde

ra eS

:\ d Mason T adrescr ing a r de

oy or pa hereo of each

deductions mon hly he Gover'Th oard is 0 e advised a~

e r

1;

rder

i P er s ow he r cei 5 a d a n's

7 /7 com i h he

1

u dancd 5 o. )

w g

daIs

dd' ion 1 0

rade to d

o

e is

to

972/

i e elo

ces ~

es c of eac

e in 0 so e rned d'v'de d

Th dividend declared or the 0 d hal - rly.

a t 5 paid t

d

i

cents

nd to lod

c:' di f

a e i

ec a c

s Fund.

ef n

ld r ad

d 0 de

on 1 c

T

e 1 nc

m nt 5ecur'~'e6 ( 0 a

Lod ements b

Y ar players-1 70/7 2 ) 83.2 22,221 08

7 172 23 8 5.7 ,7 8.1

1972/73 $29 0.9 $2 51.7

1973/7 $27 7 .38 $ 8 961.87

ng cr d't 0:when h's P ic

3. The Ap

or t e r'na c

0 e 0 e

54 ex rcis 0

ad teA p en icesh'p

period a a pr n ices i mini

or t e ot' r

Co lsory Sav'

ser in a to

Or e, 9 9;1961 i te

9

o

, ,•

2.

5. At the 31st March, 1974, the balance of $58,801.92 owing to

apprentices coneisted of $35,653.40 in Local Registered Stock and the

remainder $23,1~B.52 in cash. An amount of $52,439.10, representsactual deductions from the wages along with dividend accruing to 31st

March, 1974, of those apprentices who had not yet been paid their savings.

6. The amount of $387.84 lodged by Public Works Department, was

in respect of a deposit made by that employer to the Fund but at the time

the Balance Sheet was prepared, the statement identifying the severalapprentices had not been received.7. The amount of $20.48 shown as unidentified receipts was in

respect of deposits made to the fund by employers who did not identifythemselves up to the time of the preparation of the Balance Sheet. They

have not since been identified.8. Undistributed interest of $5,953.90 ...-~ented 1"'h.co .......... .: ..... -.

amount accruing over a long period fram earning on Stock and interestreceived on deposits after the annual dividend declared had been paid

to the apprentices.9. In accordance with Section 33 (3) of the Financial Administra­

tion and Audit Law, the Auditor General is required to transmit his report

on his examination and audit of the account of any statutory bodyaudited by him to the appropriate Minister for presentation to Parliament.10. The accounts of the Apprenticeship Board Compulsory Savings

Fund have been audited by the Auditor General and he has now submitted

his report. This together with the audited accounts are now presented

to Pa~iament for information.

(HUGH SMALL)Minister of Youth and

Sports,7th March, 1977.

MYS 13/8511

#'1O;:T"'TUTENc~' I 01... REFOF JAMAICA ~

ERI:NCE UBRARI'

AUDITED ACCOUNTS

of the

APPRENTICESHIP BOARD COMPULSORY SAVINGS FUND

for the Financial Year

1972/73

(THE APPRENTICESHIP LAW, 1954, SECTION 5(1)(;»

APPENDIX I

. . , ..-

Period 1st ApriJI

<1 Paymen

'.972 to 31r c

\I

'!"ch, 1973

RECEIPTS PAYMENTS It- ,

Lodgements by G.S.B. L.R.S. Refund to Investment OtherEmployers Interest Interest Total Apprentices Costs Charges Total

Bank Balances B/F1/4/72

G.S.B.:- $11,163.09R.B.J.:- 571.75 $11,734.84

April 1972 $2,266.70 98.80 2,365.50 $1,639.66 - .98 $1,640.64

May " 2,838.88 171.63 3,010.51 1,599.10 .88 1,599.98--June " 2,434.29 63.75 2,498.04 1,012.65 - . 56 1,013.21

JUly " 2,007.45 130.00 2,137.45 860.63 .61 861. 30-August " 1,892.44 506.25 2,398.69 2,069.29 - 1. 46 2,010.15

September " 2,988.13 $132.73 382.50 3,503.36 1,395.77 1.02 1,396.19-October " 2,958.83 33.80 2,992.63 2,889.24 .11 2,890.01-November " 2,147.21 111. 63 2,918.84 3,438.16 .28 3,438.44-December " 1,825.32 63.15 1,889.07 - - 2.05 2.05

January 1913 2,441. 01 455.00 2,896.01 4,838.83 - .11 3,404.62

February " 2,391.16 181. 25 2,572.41 2,319.55 1. 21 3,755.14,-

March " 2,739.52 $177.62 382.50 3,299.64 2,288.85 .63 2,289.48 I-

Cheques stale dated not cashed now written back$29,530.94 6310.35 $2,640.86 $44,216.99

460.92

$44,677.91

$24,351.73 $10.68

Bank Balances as at 31/3/73G.S.B.:- 618,845.24R.B .J.:- 1,470.26

$24,362.41

$20,315.5~

$44,677.91•

I have examined the above account and attached statements 1n accordance with a Resolution

passed by the House of Representatives on the 18th July, 1961 t under the provisions of Section 33 of

the Pinanci~ Administration and Audit Act. I have obtained all the information and explanations

that 1 have required and I certify as a result of my audit that, in my opinion the records of the

Apprenticeship Board Compulsory Savings Fund have been properly kept, and the above account and

stateme~ts are correct.

/5/ A.P. Strachan,Actinge Auditor General.

Amount owing 0 appren~ices:-­

U dis i ed I eres .-

. .

niden ied eceip s

$Sl)G .71

5 328.26

6.00

B, anc( of Fund as /7

1.0 .al eg . stered S oek ~os pr.:e)

Gov rnmen Savings Bank

oyal Bank 0 J aica L" ited

36 633. 7

18 845.2

1, 10.26

$S ,948 97$56 948.97

1.0 Be en"ta id if'ed m loy s

Bank of J

Balance as peLess 0 tsta di

Dif nee due

an St e en

ch ques

o conve sio

$4 96 74

2, 2 .51

$1, 70.23.03

B 1 nce in asS ook 3 /3/73

,6 5.2

1/3/73

7 .2

55 Lcd e eO' .J. L' i d

o k b 1 ceC 5Wl.

5.2

29,530.9~

2, 0.86

310.35

~on of G.S. . asS BOOK a

$ 3

3 I /7

loye 5 1/ /723 I /73

Pas 00 B anc

To D os Y

L. . S. n e s

G S. . In eres

STATEMENT OF INVESTMENTSHELD BY

APPRENTICESHIP BOARDAS AT 31ST MARCH, 1973

.

JAMAICA LOCAL FINALREGISTERf STOCK REDEMPTION DATE NOMINAL VALUE COST • (cml. DIVIDEND)

6\ Stock 1971/73 15th December, 1973 $1,000.00 $980.07

6\ Stock 1972/75 15th July, 1975 2,000.00 *1,938.54

6"\ " 1972176 30th March, 1976 2,000.00 {'1,988.326 3/4%" 1978/82 1st August, 1982 1,000.00 970.00

6"% " 1978/83 27th November, 1983 1,000.00 986.446 3/4%" 1981/83 15th March, 1983 1,000.00 962.50

6"% " 1980/84 1st August, 1984 10,000.00 *9,702.45

6"% " 1982186 15th October, 1986 1,040.00 973.706 3/4\" 1985/89 15th February, 1989 1,000.00 938.656 3/4\" 1990/93 1st Jiarch, 1993 1,000.00 930.006 3/4\" 1986/88 15th December, 1988 1,000.00 947.50

6"% " 1979/80 15th March, 1980 4,000.00 3,760.007% " 1988/89 15th July, 1989 2,000.00 1,860.007% " 1978179 15th November, 1979 3,000.00 2,932.508% " 1989/91 1st March, 1991 3,000.00 2,857.007% " 1978/79 15th November, 1979 975.00 *988.096 3/4%" 1977 15th February, 1977 1,000.00 997.218% " 1992 15th February, 1992 2,000.00 1,920.00

$38,015.00 $36,633.47

,INSTlTUTE OF JAMAICA

EST INDIA REFERENCE UBRARY .-

PRJ T Cc.. HI

AUD ED ACCOU TS

of he

OA 0 co U ORY S VI GS F

A E DIX 1°

for in nc -1 Ye r

973/7

(T E L " ... 5 CT 0

APPREf" _"~ ,<0 COMPL'LS NGS F'UNLI

Receipts and Payments ft :Period 1st April, 1973 to 31st March, 1974

RECEIPTS PAYt-1E:N'i'S

Lodgements Refunds Invest- Otherby W.S.L.B. Stock L.R.S. to ment Charges Total

Employers Interest Re-deemed Interest Total Apprentices Costs

Bank balances S/f1/4/73

\;.S.L.B. :- $16,645.24R.B.J. :- 1,470.26 $20,315.50

April 1973 $2,667.36 - - 33.60 2,701.16 $4,114.36 - 0.61 $4,115.19

May " 1,920.32 - - 171.63 2,091.95 - - 1.12 1.12

June " 2,006.69 - - 63.75 2,070.44 2,042.32 - 0.77 2,043.09

July " 2,943.76 - - 130.00 3,073.76 701.58 - 0.07 701.65

August " 1,019.77 - - 506.25 1,526.02 - - 0.67 .67

September " 3,335.76 - - 317.50 3,653.26 4,371.75 - 0.39 4,372.14

October " 2,113.74 $346.2, - 98.80 2,564:77 2,083.32 - 0.32 2,083.64

November " 2,325.41 - - 171.63 2,497.04 5,817.49 - 0.91 5,818.40

December " 2,081.83 - - 63.75 2,145.56 1,917.87 - 1.02 1,918.89

January 1974 2,924.94 - $1,000.00 130.00 4,054.94 3,456.80 $15,000.00 1.23 18,458.03

February " 2,207.56 - - 506.25 2,713.81 1,929.19 - 0.42 1,929.61

March " 2,230.24 - - 317.50 2,547.74 2,527.17 - 1.05 2,528.2

$27,783.36 $346.23 $1,000.002,510.86 $51, 955.97 $28,961.87 SI5,OOO.00 8.78 $43,970.65

Cheques stole now written back 163.20 Bank Balances at 31/3/741,/ockers Savings & Loan Bank:­

$6,885.71Royal Bank Ja. Ltd. $1,262.81

$52,119.17

B,148.52$52,119.17

· .

1 have xamined th~ above acccu.by the House of R( .'resentatives on the 181l­Administration ant Audit Act. r h~vc obtand I certify as c. result of Illy dud'lt thatSavings Fund have Deen properly kept, and ~

and attached st.:..temer.....uly, 1951, und~r the

led all the i~formatio

i my opinion, the rectdbove a-~~~nt and sta

in de ;)rda.'"lc.. .. wi\.·... a R, olutioll paseed":'sio\ ., of 5, ~ti on .. ~ • _ the FL,ancial

c:nd ~X4 lanatic.ns that ... '_ve I'€q ired:\s of tn':! App-e:1t":_ceship l-rd ~""rr_;:"~'_~cr=:,'

;T1{;:&l 1:5 .:. ...'e COol. roaet •

..•.

-

lSI A. P. Strachan,Acting Auditer General.

A e 9 ith C 00

•STATEMENT Of INVESTMENTS

HELD 8YAPPRENTICESHIP BOARDAS AT 31ST MARCH, 1974

535,653.40

15,000.00537,015.00

9% Deposit Workers Savings & Loan Bank 18th January, 1975

JAMAICA LOCAL REGISTERED STOCK FINAL REDEMPTION DATE NO~llNAL VALUE COST ·(CUM. DIVIDEND)

6% Stock 1972/75 15th July 1975 12,000.00 ·51,938.54

6~ .. 1972/76 30th f.1arch, 1976 2,000.00 ·51,988.32

6\% .. 1978/82 1st August, 1982 1,000.00 970.00

6~ .. 1978/83 27th November, 1983 1,000.00 986.44

6~% .. 1981/83 15th r"arch, 1983 1,000.00 962.50

6~.. 1980/84 1st August, 1984 10,000.00 ·9,702.45

6~ .. 1982/86 15th October, 1986 1,040.00 973.70

6\% .. 1985/89 15th February, 1989 1,000.00 938.65

6~ .. 1990/93 1st March, 1993 1,000.00 930.00

6\% .. 1986/83 15th December, 1988 1,000.00 947.50

6~.. 1979/80 15th March, 1980 4,000.00 3,760.00

7% .. 1988/89 15th July, 1989 2,000.00 1,860.00

7% .. 1978/79 15th November, 1979 3,000.00 2,9a2.50

8% .. 1989/91 1st March, 1991 3,000.00 2,857.50

n. .. 1978/79 15th November, 1979 975.00 ·988.09

6~% .. 1977 15th February, 1977 1,000.00 ·997.21

8% .. 1992 15th February J 1992 2,000.00 1,920.00

550,653.40I STITUTE ·OF JAIoIAICA

.VEST INDIA REFERENCE UBRARY