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Public Bodies Ministry of Education, Youth and Information

(Other) Commission">Overseas Examination Commission

_____________________________________________________________________________________________

Public Bodies, FY 2016/17 Page 186 Ministry of Finance and the Public Service

Commission">Overseas Examination Commission Introduction

The Overseas Examinations Commission (OEC) was established by an Act of Parliament in 2005, and is the only organization mandated by the Government of Jamaica to administer external examinations. The Commission partners with the Ministry of Education, Youth and Information (MOEYI) and external examining bodies on a number of key initiatives as they relate to the administration of local and external examinations. OEC’s financial year covers the period September to August and is consistent with the academic year. Operational and Financial Overview The OEC continues to be guided by its Strategic Plan 2015 – 2018 which is informed by the Education Transformation agenda for the improvement of student performance. Consequently the OEC will focus on four (4) major strategies during the academic year:

• Institutional marketing with emphasis on relationships and partnerships with key stakeholders with the focus on Caribbean Examination Council (CXC) and the MOE. The OEC will collaborate with the MOE to promote and market various examinations through technical, vocational and industry subjects.

• Infrastructure development for improved operational efficiency toward the facilitation of new/expanded training opportunities. Therefore OEC’s joint partnership with HEART Trust/NTA in the development of the Machado Complex will continue. Additionally the OEC will pursue infrastructure development at the Western Office in Montego Bay.

• Sustaining its operations the Commission through diversification of its business practices thereby enhancing its relevance and competitiveness.

Human Resource Development and Customer Service with emphasis on selection, training and quality standards. The OEC has also implemented a Performance Management Appraisal System.

In pursuing the infrastructural development, the OEC estimates capital expenditure of $338.48

million. The Commission estimates net profit of $226.08 million [2014/15: $286.54 million].

The planned staff complement is 31(2014/15: 27).

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Page 187

Head No. 6500

and Title: Ministry of Transport, Works and Housing

P R O P O S A L S

Activity/ Service & Object of Approved Provided Savings or Approved

Project Expenditure Estimates by Law Supplementary Under New

No. 2012/13 (Statutory) Estimates Expenditure Estimates

FIRST SUPPLEMENTARY ESTIMATES 2012/2013

$000

Remarks & Object Classification

22 Travel Expenses and Subsistence 299.0

FUNCTION 23- TRANSPORT AND COMMUNICATION

SERVICES

SUB FUNCTION 02 - SHIPPING, PORTS AND LIGHT HOUSES

PROGRAMME 002 - TRAINING

SUB PROGRAMME 31 - CARIBBEAN MARITIME

TRAINING SCHOOL

1736 Grant to Finance Operating Expenses 112,291.0 10,214.0 122,505.0 Additional requirement as follows:

(i) 7% Salary Arrears 8,131.0

(ii) Travel Allowance 2,083.0

10,214.0

Additional

30 Grants and Contributions 10,214.0

PROGRAMME 560 - MARITIME ORGANIZATIONS

SUB PROGRAMME 22 - MARITIME AUTHORITY OF

JAMAICA

2252 Maritime Authority of Jamaica 214,878.0 6,504.0 221,382.0 Additional requirement

(i) 7% Salary Arrears 4,994.0

(ii) Travel Allowance 1,510.0

Additional

30 Grants and Contributions 6,504.0

SUB FUNCTION 03 - ROAD TRANSPORT

PROGRAMME 230 - ROAD TRAFFIC AND SAFETY

SUB PROGRAMME 21 - ROAD SAFETY

0607 Island Traffic Authority 171,076.0 7,409.0 178,485.0 Additional requirement

Additional

21 Compensation of Employees 4,409.0

22 Travel Expenses and Subsistence 3,000.0

23 Rental of Property, Machinery and Equipment 114.0

31 Purchases of Equipment (Capital Goods) 1,000.0

8,523.0

6500 - 187

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Page 128

Head No. 4500

and Title: Ministry of Youth and Culture (formerly Ministry of Youth, Sport and Culture) $000

P R O P O S A L S

Activity/ Service & Object of Approved Provided Savings or Approved

Project Expenditure Estimates by Law Supplementary Under New Remarks & Object Classification

No. 2011/2012 (Statutory) Estimates Expenditure Estimates

SECOND SUPPLEMENTARY ESTIMATES 2011/2012

PROGRAMME 477 - COMMUNITY DEVELOPMENT SERVICES

SUB PROGRAMME 20 - SOCIAL DEVELOPMENT COMMISSION

0163 Grants for Direction and Administration 548,727.0 159,732.0 388,995.0 Revised requirement due to the following:

(1) Transfer of Activity to Head 7200 - Ministry of Local Government and Community Development effective January 1, 2012 159,122.0 (2) Unfilled vacant post 610.0

(i) Compensation of Employees 91,916.0 (ii) Travel Expenses and Subsistence 14,073.0 (iii ) Rental of Property, Machinery & Equipment 1,233.0 (iv) Public Utility Services 1,201.0 (v) Purchases of Other Goods and Services 51,309.0

Reduction 30 Grants and Contributions 159,732.0

1718 Grant for Retirement Benefits 62,540.0 15,632.0 46,908.0 Revised requirement due to Activity being transferred to

Head 7200 - Ministry of Local Government and Community

Development effective January 1, 2012 as follows:

Reduction

30 Grants and Contributions 15,632.0

FUNCTION 11 - ART AND CULTURE

PROGRAMME 004 - REGIONAL AND INTERNATIONAL

COOPERATION

SUB PROGRAMME 08 - INTERNATIONAL

ORGANISATIONS

0709 Grant for the Jamaica National Commission for UNESCO 27,545.0 46.0 27,499.0 Revised requirement due to unfilled vacant posts

Reduction

30 Grants and Contributions 46.0

PROGRAMME 450 - PROMOTION OF ARTS AND

CULTURE

SUB PROGRAMME 20 - AFRICAN/CARIBBEAN

INSTITUTE OF JAMAICA/JAMAICA MEMORY BANK

4500 - 128

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June 12, 2021


Page 37

36

Appendix II

FISCAL RISK STATEMENT

The April 2016 FPP presented a detailed outline of the key fiscal risks being monitored by the

MOFPS/GOJ and the associated strategies for managing them. This report provides a brief

update on some of the risks identified.

Natural Disasters

The GOJ recognizes the country’s vulnerability to natural disasters and the potential financial and

economic pressures that could result. As such, for the 2016/17 policy year of the Caribbean

Catastrophe Risk Insurance Facility Segregated Portfolio Company (CCRIF SPC) programme, the

government has renewed the policy coverage for Jamaica for Tropical Cyclone (TC), Earthquake

(EQ) and Excess Rainfall (XSR) at a premium cost of US$4.9mn.

Arrears

Tax Refund Arrears are being closely managed by the GOJ to ensure that the arrears decline as

programmed. The level of tax refund arrears is monitored under the EFF programme and this

quantitative target has been met under successive quarterly IMF reviews. During FY 2015/16, the

stock of tax refund arrears was reduced by $4.4bn and ended the fiscal year at $17.3bn. The stock

continues to be steadily reduced, declining to $14.8bn at end-July 2016, representing a $2.5bn

reduction since the start of the fiscal year.

Domestic Arrears represents a category of fiscal risk that includes amounts due to suppliers and

all recurrent and capital expenditure commitments. This category of arrears is closely managed

by the GOJ and is also monitored under the EFF programme. During FY 2015/16 the stock of

domestic arrears was reduced by $524.3mn to $21.0bn at end-March 2016. The GOJ has

continued to steadily reduce the stock of domestic arrears and at end-July 2016, a further

reduction of $128.7mn had been achieved.

Public Private Partnership (PPP)

The GOJ recognizes that PPP projects have the potential to impose significant fiscal risks if not

appropriately designed and financed. Therefore, the risks associated with PPP’s are actively

monitored by the GOJ. The following provides an update on the status of PPPs since the FPP was

published in April.

Kingston Container Terminal – a 30 year Concession Agreement (CA) was executed on

April 7, 2015 with Kingston Freeport Terminal Limited (KFTL) to finance, expand,

operate, maintain, and transfer the Kingston Container Terminal (KCT). The

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Page 13

2016-2017 JAMAICA BUDGET STATEMENT II

DETAILS OF REVENUE AND LOAN RECEIPTS

Head 28 - Extraordinary Receipts

1 Immigrant Deposits 0 0 2 Agriculture Recovery Programme - Sale of Mechanical

Implements 0 0

3 Sale of unserviceable goods-Housing Dept and Supply Division Stores 0 0

4 Surplus on Sinking Fund 0 0 5 Proceeds from Foreshore Development 0 0 6 Grants from the European Union 2,769,859,233 4,234,000,000 1,581,465,818 1,304,033,000 (277,432,818) 7 Grants from Government of the Netherlands 0 0 8 Miscellaneous 853,003,479 - 6,063,275,924 14,539,200,000 8,475,924,076 9 Bauxite Alumina Trading Company 0 0

10 Other Grants 3,099,698,351 5,305,000,000 1,638,759,000 3,944,865,000 2,306,106,000 11 Proceeds from Divestment 0 0

Total Head 28 6,722,561,063 9,539,000,000 9,283,500,741 19,788,098,000 10,504,597,259

TOTAL CAPITAL REVENUE 8,059,782,420 10,477,800,000 9,884,209,757 20,457,926,178 21,009,194,518

III TRANSFERS FROM CAPITAL DEVELOPMENT FUND

Head 29 - Transfers to Current Account

(a) Transfers in lieu of Income Tax from Alumina Producers 0 0 0 0

(b) Other 4,779,700,000 0 2,818,194,200 2,818,194,200 Total Head 29 0 4,779,700,000 - 2,818,194,200 2,818,194,200

Head 30 - Transfers to Capital Account 0

Total Head 30 0 0 0 0 0

TOTAL - TRANSFERS FROM CAPITAL DEVELOPMENT FUND 0 4,779,700,000 0 2,818,194,200 2,818,194,200

IV LOAN RECEIPTS

EXTERNAL LOANS

Multilateral

Loans to be raised under Act 39 of 1964

1 World Bank Loans 26,964,189,336 18,005,611,000 2,823,858,764 11,049,300,000 8,225,441,236 2 Inter-American Development Bank 3,964,311,685 18,450,828,000 16,404,219,642 18,834,000,000 2,429,780,358 3 USAID 0 0 3 Caribbean Development Bank 4,111,168,767 1,589,300,000 1,449,225,982 626,928,000 (822,297,982) 4 European Union 0 0 5 World Bank/IDB 5,455,119,600 10,403,934,000 4,948,814,400 6 IFID 0 0 7 OECF/USAID 0 0 8 OPEC 152,454,000 570,310,000 417,856,000 9 OECF 0 0

10 IMF 1,667,703,000 0 0 11 Other 300,000,000 3,785,290,558 49,881,000 (3,735,409,558)

0 Bilateral 0

2,014,504,000 0 12 Government of China 4,013,987,000 2,504,894,000 5,881,015,000 3,376,121,000 13 Government of Germany 0 0 14 JBIC 0 0 15 Kuwait 0 47,332,000 47,332,000 16 Saudi 0 0 17 PL480 3,332,916,000 0 0 18 Other 3,100,000,000 (3,100,000,000)

0 Other Loans 0

0 19 Capital Market 89,385,564,960 30,232,500,000 234,147,055,104 0 (234,147,055,104) 20 Other 0 0 0

TOTAL EXTERNAL LOANS 131,440,357,747 72,592,226,000 269,822,117,650 47,462,700,000 (222,359,417,650)

DOMESTIC LOANS

1 Local Commercial Banking Sector 0 0 2 Benchmark Notes & Treasury Bills 14,108,057,762 14,000,000,000 28,933,379,449 41,921,700,000 12,988,320,551 3 Indexed Bonds & US$ Loans 0 0 0 4 Other 28,457,696,346 42,337,900,000 0 0

TOTAL DOMESTIC LOANS 42,565,754,109 56,337,900,000 28,933,379,449 41,921,700,000 12,988,320,551

TOTAL LOAN RECEIPTS 174,006,111,856 128,930,126,000 298,755,497,100 89,384,400,000 (209,371,097,100)

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