Below is the list of balance of the Consolidated Fund for the year ended $31$st December $2018.$

BWP'million

Direct tax $100,000$

Indirect tax $150,000$

Grants from bilateral partners $25,000$

Grants from multilateral partners $320,000$

Others grants received $10,000$

Royalties $8,000$

Fees and fines $2,000$

Interest income $400$

Seminar and training $22,000$

Local consultancy $34,000$

Foreign consultancy $23,000$

Travel and transport $6,000$

Travel allowances $56,000$

Established post salaries $220,000$

Non$-$established post $80,000$

End of service benefits $120,000$

Car maintenance allowances $40,000$

other staff cost $12,000$

Cleaning cost $3,000$

Office consumable $5,000$

Subsidies $10,000$

Social benefit cost $35,000$

Grants to local government $60,000$

Property plant and equipment at cost $400,000$

Accumulated consumption of PPEs $45,000$

Investments $80,000$

Loans and advances $20,000$

Cash and equivalent $36,000$

Other expenditures $15,000$

Domestic debt $180,000$

External debt $320,000$

interest expense $40,000$

Accumulated fund $($Cr$.)$ Additional Information $156,600$

i$)$ It is the policy of the government to charge consumption of fixed capital on cost pe$.$ Property plants and equipment is consumed at the rate of $20\%$ per annum.

ii$)$ Fees amounting to BWP$20,000,000,000$ were earned but not received as at $31$st December, $2018.$

iii$)$ Staff allowances of BWP$500,000,000$ remained unpaid at the end of the year.

iv$)$ The revenue and expenditure extracts from the budget for $2018$ are as follows.

BWP Millions

Direct taxes $120,000$

Indirect taxes $180,000$

Grants $400,000$

Compensation for employees $420,000$

Goods and services $90,0000$

Non$-$tax revenues $50,000$

Subsidies cost $20,000$

Social benefit cost $40,000$

Grants expense $70,000$

Other expenditures $20,000$

Interest expense $40,000$

 

 

Required:

a$)$ Prepare in compliance to the IPSAS and the Public Financial Management Act $2016($Act $921)$ for the Consolidated Fund: $\mathrm{<br>}$

i$)$ Statement of Revenue and Expenditure for the year ended $31$st December $2018.\mathrm{<br>}$

ii$)$ Statement of Financial Position as at $31$st December, $2018$; and $\mathrm{<br>}$

iii$)$ Notes to the accounts.

b$)$ Which public officer is responsible for the preparation of the set of financial statements you have prepared in question $($a$)$ above?

$\mathrm{<br>}$