96 / 100
NOTES TO FINANCIAL STATEMENTS
31 MARCH 2016
11
12
14
13
CONTRIBUTION TO CONSOLIDATED FUND
DEFERRED CAPITAL GRANTS
REVENUE
SHARE CAPITAL
The Commission is required to make contributions to the Consolidated Fund in accordance with the Statutory
Corporations (Contributions to Consolidated Fund) Act (Cap 319A, 2004 Revised Edition) and in accordance with
the Finance Circular Minute No. 5/2005 with effect from 2004/2005. The amount to be contributed is based on
17% (2015 : 17%) of the net surplus of the Commission, after netting off the prior year’s accounting deficit.
The shares have been fully paid for and are held by the Minister for Finance, a body corporate incorporated by
the Minister for Finance (Incorporation) Act (Chapter 183). The holder of these shares, which has no par value,
is entitled to receive dividends from the Commission. There is no dividend payable in current year.
2016
2015
$
$
At the beginning of financial year
1,227,907
1,171,401
Transfer from operating grants (Note 16)
104,048
302,911
Transfer from other government agency
-
21,827
Transfer to statement of profit or loss and other comprehensive income
(307,554)
(268,232)
At the end of financial year
1,024,401
1,227,907
2016
2015
$
$
Interest income on cash and bank balances placed with
the Accountant-General’s Department
222,673
184,090
Application fee income
170,000
535,000
Other operating income
71,835
10,729
464,508
729,819
2016
2015
2016
2015
Number of
shares
Number of
shares
$
$
Issued and fully paid up:
Balance at beginning and end of
financial year
2,097,892
2,097,892
2,097,892
2,097,892
94
FINANCIAL STATEMENTS
CCS ANNUAL REPORT 2015-2016