Governmnent of Ghana

Statement of Financial Performance of the year ended 31-Dec-2021

Revenue Notes Actual Budget

GHS'm GHS'm
Direct Taxes XX XX
Indirect Taxes XX XX
Non-Tax Revenue XX XX
Grant XX XX
Total Revenue XX XX

Expenditure
Compensation XX XX
(Use of) Goods and Services XX XX
Interest on Public Debt XX XX
Consumption of Fixed Asset XX XX
Grants XX XX
Social benefit XX XX
Subsidies XX XX
Other Expenditure XX XX
Total Expenditure XX XX

Surplus / Deficit XX XX

Statement of Changes in Net Assets / Accumulated Fund for the year ended 31-Dec-20
Acc Fund
GHS'm
Opening Balance XX
Surplus / Deficit XX
Closing Balance XX

Statement of Financial Position at at 31 December 2021

Non-Current Asset GHS
Infrastructure, Plant & Equipment XX
Intangible Assets XX
Investment XX
Loans XX
XX
Current Asset
Inventory XX
Receivables XX
Cash and Bank XX
XX

Total Assets XXX

Accumulated Funds and Liabilities

Accumulated Fund XX

Current Liabilities
Payables XX
Deposits XX
Trust Funds XX
Net Treasury Operations XX
XX

Non Current Liabilities

Domestic Debt XX
External Debt XX
XX

Total Accumulated Fund & Liabilites XXX

Statement of Cash Flow for the period ended 31 Dec 2021

Cash Flow from Operations

Inflows:
 Direct Taxes XX
Indirect Taxes XX
Non-Tax Revenue XX
Grant XX
XX
Outflows;
Compensation (XX)
(Use of) Goods and Services (XX)
Interest on Public Debt (XX)
Grants (XX)
Social benefit (XX)
Subsidies (XX)
Other Expenditure (XX)
(XX)
Net Cash Flow from Operations A XX

Cash Flow from Investing Activities

Inflows:
Proceeds from sale of non-financial assets XX
Proceeds from sale of financial assets XX
XX
Outflows;
Purchase of non-financial assets (XX)
Purchase of financial assets (XX)
(XX)
Net Cash Flow from investing activities B XX

Cash Flow from Financing Activities

Inflows:
Proceeds from domestic borrowing XX
Proceeds from external borrowing XX
XX
Outflows;
Repayment of domestic debt (XX)
Repayment of external debt (XX)
(XX)
Net Cash Flow from financing activities C XX

Net Cash flow for the period XXX A +B +C

Opening Cash and Cash Equivalent XX

Closing Cash Balance XXX

Notes to the financial statement

Note 1: Accounting Policies

Entity: The Government of Ghana
Legal Compliance: The Financial statement complies with the PFM Act 2016 (Act 921)
Compliance to Standards: Financial statement complies with IPSAS
Basis of Accounting: Accrual Basis
Estimates; Dep - XX%.....
 Variance
GHS'm
XX
XX
XX
XX
XX

XX
XX
XX
XX
XX
XX
XX
XX
XX

XX

the year ended 31-Dec-2021

FM Act 2016 (Act 921)
 GOVERNEMENT OF GHANA

Statement of Financial Performance for the year ended 31- Dec- 2016

Notes Actual Budget

Revenue GHS'000 GHS'000
Direct Taxes 2 370,000 400,000
Indirect Taxes 3 530,000 600,000
Non-Tax Revenue 4 140,000 200,000
Grant 150,000 150,000
1,190,000 1,350,000

Expenditure
Compensation 5 (519,000) (490,000)
Goods and Services 6 (535,000) (350,000)
Consumption of fixed capital 7 (50,000) -
Interest of public debt 8 (920,000) (800,000)
Social Benefit (315,000) (250,000)
Subsidies (245,000) (240,000)
Grant (290,000) (260,000)
Other Expenditure - -
(2,874,000) (2,390,000)

Surplus / (Deficit) for the period (1,684,000) (1,040,000)

Statement of Changes in Net Assets for the year ended 31 December 2016

Acc Fund
GHS'000
Opening Balance (476,000)
Surplus / (Deficit) for the period (1,684,000)
Closing Balance (2,160,000)
Statement of Financial Position as at 31 - December - 2016

Non-Current Assets Notes GHS'000

Infast. Plant and Equipment 7 520,000
Equity Investment 200,000
720,000
Current Asset
Loans and Advances 90,000
Cash and Cash Equivalent 110,000
200,000
Total Asset 920,000

Financed By

Accumulated Fund
Accumulated Fund (2,160,000)

Current Liabilities
Sundry Creditors 80,000

Non-Current Liabilities
Domestic Debt 1,200,000
External Debt 1,800,000
3,000,000
Total Liability 3,080,000

Total Acc Fund and Liabilities 920,000

 Note 6: Goods and Services GHS'000
Travel and Transport 70,000
Repairs and Maintenance 50,000
1- Dec- 2016 State Protocol 180,000
Independence day celebration 205,000
Variance Seminars and conferences 30,000
GHS'000 535,000
(30,000) Legal Compliance: The Financial statement complies with the PFM Act 201
(70,000) Compliance to Standards: Financial statement complies with IPSAS
(60,000) Basis of Accounting: Accrual Basis
- Chart of Accounts: GIFMIS Chart of Accounts
(160,000)
Note 2: Direct Taxes GHS'000
Corporate Income Tax 200,000
(29,000) Personal Income Tax 120,000
(185,000) Capital Gains 50,000
(50,000) 370,000
(120,000)
(65,000) Note 3: Indirect Taxes GHS'000
(5,000) Taxes on Goods and services 180,000
(30,000) Custom Duties 250,000
- Communication Servce Tax 100,000
(484,000) 530,000

(644,000) Note 4: Non-Tax Revenue GHS'000

Fees, Fines and Penalties 80,000
Investment Income 20,000
Royalties 40,000
140,000

Note 5: Compensation GHS'000

Established Position 240,000
Causal Labour 60,000
13% Social Security Contribution 26,000
End of service benefit 168,000
Probation 25,000
519,000
Note 6: Goods and Services GHS'000
Travel and Transport 70,000
Repairs and Maintenance 50,000
State Protocol 180,000
Independence day celebration 205,000
Seminars and conferences 30,000
535,000

Note 7: Infrastructure,Plant and Equipment

Cost PPE
Opening Balance 300,000
Addition/Disposals -
Closing Balance 300,000

Consumption of fixed asset

Opening Balance 50,000
Charge for the year 20,000
Closing Balance 70,000

Closing NBV 230,000

Note 8: Interest on Public Debt GHS'000

Domestic Debt Interest 400,000
External Debt Interest 520,000
920,000
mplies with the PFM Act 2016 (Act 921)
omplies with IPSAS
Infrast. Total
400,000 700,000
- -
400,000 700,000

80,000 130,000
30,000 50,000
110,000 180,000

290,000 520,000
 GOVERNEMENT OF GHANA

Statement of Cash Flow for the year ended 31- Dec- 2016

Cash Flow from Operations Notes GHS'000

Inflows:
Direct Taxes 1,200,000
Indirect Taxes 1,300,000
Non-Tax Revenue 120,000
Grant 400,000
3,020,000
Outflows;
Compensation (1,000,000)
(Use of) Goods and Services (750,000)
Interest on Public Debt 2 (460,000)
Grants (200,000)
Social benefit (70,000)
Subsidies (60,000)
Other Expenditure (20,000)
(2,560,000)
Net Cash Flow from Operations A 460,000

Cash Flow from Investing Activities

Inflows:
Proceeds from sale of financial assets 350,000
Proceeds from sale of non-financial assets 100,000
450,000
Outflows;
Purchase of inancial assets (1,140,000)
Purchase of non-financia assets (1,990,000)
(3,130,000)
Net Cash Flow from investing activitie B (2,680,000)

Cash Flow from Financing Activities

Inflows:
Proceeds from domestic borrowing 1,800,000
Proceeds from external borrowing 2,000,000
3,800,000
Outflows;
Repayment of domestic debt (450,000)
Repayment of external debt (500,000)
(950,000)
Net Cash Flow from financing activitie C 2,850,000

Net Cash flow for the period 630,000

Opening Cash and Cash Equivalent 140,000

Closing Cash Balance 770,000
Notes to the financial statement

Note 1: Accounting Policy

Entity: Consolidated Fund of Ghana
Legal Compliance: The Financial statement complies with the PFM Act 2016 (Act 921)
Compliance to Standards: Financial statement complies with IPSAS
Basis of Accounting: Accrual Basis
Chart of Accounts: GIFMIS Chart of Accounts

Note 2: Interest on Public Debt

Domestic Debt Interest 220,000
External Debt Interest 240,000
460,000

Note 3: Proceeds from Financial Asset Disposal

Recovery of Advance 30,000
Recovery of loans 20,000
Sale of Equity Investment 200,000
Sale of other Investment 100,000
350,000

Note 4: Proceeds from sale of non-financial asset

Disposal of motor vehicle 100,000

Note 5: Purchase of Financial Assets

Advances Granted 150,000
Loans Granted 90,000
Equity Investment 600,000
Other Securities Investment 300,000
1,140,000

Note 6: Purchase of Non-Financial Assets

Purchase of motor vehicle 250,000
Construction of bridges 800,000
Inventory 40,000
Presidential Aircraft 900,000
1,990,000
t 2016 (Act 921)