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Page 266

Public Bodies Ministry of Transport and Mining (Other) Jamaica Bauxite Institute _____________________________________________________________________________________________

Public Bodies, FY 2020/21 Page 265 Ministry Finance and the Public Service

$m

Audited Original Estimated Projected 2018/19 2019/20 2019/20 2020/21

Statement A Flow of Funds 1 Current Revenue 241.34 256.25 250.14 267.14 2 Current Expenses (226.57) (256.02) (207.39) (267.14) 3 Current Balance 14.77 0.23 42.75 - 4 Adjustments (18.81) (61.07) 57.37 -

Change in Accounts - - - - Receivable/Payable (35.17) (80.66) 74.31 (18.48) Items not requiring outlay of cash: - - - - Depreciation 14.95 19.91 18.98 18.48 Other Non-Cash Items 1.41 (0.32) (35.92) - Prior Year Adjustment - - - -

5 Operating Balance (4.04) (60.84) 100.12 - 6 Capital Account (26.23) (0.23) (43.66) -

Revenue - - - - Expenditure (26.23) (0.23) (43.66) - Investment - - - - Change in Inventory - - - -

7 Transfers from Government - - - - Loans - - - - Equity - - - - On-Lending - - - - Other - - - -

8 Transfers to Government - - - - Dividend - - - - Loan Repayments - - - - Corporate Taxes - - - - Other - - - -

9 OVERALL BALANCE (5+6+7+8) (30.27) (61.07) 56.46 - 10 FINANCING (10a+11+15) 30.27 61.07 (56.46) -

10a Total - - - - Capital Revenue - - - - Loans - - - - Equity - - - - On-Lending - - - - Loan Repayments - - - -

11 Total Foreign (12+13+14) - - - - 12 Government Guaranteed Loans - - - -

Disbursement - - - - Amortization - - - -

13 Direct Loans - - - - Long Term: - - - -

Disbursement - - - - Amortisation - - - -

Short Term: - - - - Change in Trade Credits - - - -

14 Change in Deposits Abroad - - - - 15 Total Domestic (16+17+18) 30.27 61.07 (56.46) - 16 Banking System 30.27 61.07 (54.46) -

Loans (Change) - - - - Current AccountsOverdraft (Change) - - - - Deposits (Change) 30.27 61.07 (54.46) -

17 Non-Banks (Change) - - - - 18 Other (Change) - - (2.00) -

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June 12, 2021


Page 267

Public Bodies Ministry of Transport and Mining (Other) Jamaica Bauxite Institute _____________________________________________________________________________________________

Public Bodies, FY 2020/21 Page 266 Ministry Finance and the Public Service

$m

Audited Original Estimated Projected CURRENT REVENUE 2018/19 2019/20 2019/20 2020/21 Capital Development Fund 223.00 234.37 234.37 244.22 Commercial Projects 5.27 6.47 3.93 6.19 Interest on Deposits 2.61 6.00 5.04 6.40 Bauxite Community Redev. Project Fees 5.72 2.00 2.04 4.31 Other 4.74 7.41 4.76 6.02 TOTAL 241.34 256.25 250.14 267.14

CURRENT EXPENSES 164.14 168.31 140.81 168.54

Travel & Subsistence 1.04 25.48 16.07 25.35 10.34 12.35 11.47 10.36 31.48 43.76 37.24 52.93 8.30 3.24 0.53 5.45

11.27 2.88 1.27 4.51 Taxes - - - - TOTAL 226.57 256.02 207.39 267.14

CAPITAL EXPENDITURE PROJECTS: Equipment 19.73 0.23 23.42 - Other 6.50 - 10.88 - TOTAL 26.23 0.23 43.66 -

Other

Compensation to Employees

Public Utilities Purchase of Other Goods & Services Special Expenditure Projects

...
June 12, 2021


Page 268

Public Bodies Ministry of Transport and Mining (Other) Jamaica Bauxite Institute _____________________________________________________________________________________________

Public Bodies, FY 2020/21 Page 267 Ministry Finance and the Public Service

Balance Sheet $m

Audited Estimated Projected 2018/19 2019/20 2020/21

Current Assets Cash and Bank Balances 207.20 261.66 261.66 Trade and Other Receivables 18.59 12.68 21.20 Owing by Related Company 0.15 0.25 0.25 Taxation Recoverable 8.84 10.70 9.39

234.78 285.29 292.50 Non-current Assets Property, Plant and Equipment 52.81 88.68 70.21 Long Term Receivables - 2.00 2.00 Retirement Benefit Asset 101.06 101.06 101.05

153.87 191.74 173.26 Total Assets 388.65 477.03 465.76

Current Liabilities Trade and Other Payables 71.41 141.29 129.02

71.41 141.29 129.02 Non-current Liabilities Projects Funds 2.04 2.52 3.52 Deferred Tax Liability 2.70 2.70 2.70 Retirement Benefit Obligation 86.58 86.58 86.58

91.32 91.80 92.80 Capital and Reserves Share Capital ($200) - - - Grant Income 0.12 0.12 0.12 Accumulated Surplus 225.80 243.82 243.82

225.92 243.94 243.94

Total Liabilities and Equity 388.65 477.03 465.76

...
June 12, 2021


Page 269

Public Bodies Ministry of Transport and Mining (Other) Jamaica+Bauxite+Mining+Limited">Jamaica Bauxite Mining Limited _____________________________________________________________________________________________

Public Bodies, FY 2020/21 Page 268 Ministry Finance and the Public Service

Jamaica+Bauxite+Mining+Limited">Jamaica Bauxite Mining Limited

Introduction Jamaica+Bauxite+Mining+Limited">Jamaica Bauxite Mining Limited (JBM) was incorporated on February 13, 1975, as a limited liability company. JBM holds (51%) equity on behalf of the Jamaica">Government of Jamaica in the mining operations of the Jamaica+Bauxite+Partners+II">Noranda Jamaica Bauxite Partners II in St. Ann, Jamaica. Ownership of the 49% shareholding previously held by Noranda Jamaica Bauxite Partners was passed to New Day Aluminium in October 2016. JBM’s non-bauxite activities are concentrated at the Lydford Estate in St. Ann. These activities include operation of the Ocho Rios Port for the shipment of sugar, limestone and the servicing of cruise vessels as well as the management of the Reynolds Pier and the rental of properties. Operational and Financial Review The JBM plans to continue the redevelopment of the Ocho Rios Port. The redevelopment will result in the construction of a multi-purpose facility at the port that will allow for continued loading and shipment of limestone and sugar; attraction of additional and larger cruise ships; and receiving and distributing hardware products as well as receiving fuel. JBM’s total capital expenditure of $171.39 million (2019/20: $112.59 million) includes an allocation for the continued development of the Ocho Rios Port. The JBM anticipates net surplus of $123.43 million (2019/20 - $186.45 million). The current staff complement of the JBM is ninety (90).

...
June 12, 2021


Page 270

Public Bodies Ministry of Transport and Mining (Other) Jamaica Bauxite Mining Limited _____________________________________________________________________________________________

Public Bodies, FY 2020/21 Page 269 Ministry Finance and the Public Service

Income Statement

$m

Audited Estimated Projected 2018/19 2019/20 2020/21

Income Revenue - Lydford/Port 265.25 215.89 227.86 Use of Assets Fee 223.29 233.98 241.04 Other Income 36.35 15.98 - Interest Income 20.25 26.37 30.25

545.14 492.22 499.15 Expenses Staff costs 211.02 203.18 242.98 Utilities 22.28 22.05 21.24 Property Tax 3.15 2.95 3.00 Fees 14.41 11.67 13.20 Depreciation 21.62 21.00 24.00 Bad Debt - 16.30 2.00 Other 128.93 28.62 69.30 Total Administrative Expenses 401.41 305.77 375.72 Surplus/(Deficit) Before Tax 143.73 186.45 123.43 Income Tax 31.23 46.61 30.86 Net Surplus/(Deficit) 112.50 139.84 92.57

...
June 12, 2021


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