Committee Reports::Report - Appropriation Accounts 1965 - 1966::14 July, 1967::Appendix


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APPENDIX XLII.

PIGS AND BACON COMMISSION—STATEMENT OF ACCOUNTS FOR YEAR ENDED 31st DECEMBER, 1965

General Fund for Year ended 31st December, 1965

						£	£									£
Fees and Expenses of the Commission				..	..	4,186		Balance at 1st January, 1965				..	..	..	..	34,534
Salaries, Wages and Fees			..	..	..	76,337
Travelling and Representation Expenses					..	15,675		Levies	..	..	..	..	..	..	..	1,137,073
Rent, Rates, Repairs and Maintenance				..	..	5,608
Printing, Telephone and General Expenses					..	11,844		Contributions by Industry towards administrative Cost of
Furniture and Fittings		..	..	..	..	2,468		handling Pork		..	..	..	..	..	..	24,250
							116,118
Bank Interest	..	..	..	..	..		2,305	Exchequer Grant in Aid for development of Export Markets
Advertising and Publicity			..	..	..		96,473	for Pigmeat and Pigmeat Products					..	..	..	6,943
Technical Services to the Industry				..	..		8,139
Sow Distribution Scheme—Deficit				..	..		737	Balance at 31st December, 1965				..	..	..	..	749,651

Pork Exports:
Purchases	..	..	..	..	..	4,915,378
Freight	..	..	..	..	..	295,227
Insurance	..	..	..	..	..	13,464
Cost of Pork Sold		..	..	..	..	5,224,069
Less Realised on Sale		..	..	..	..	3,497,099
Cost of Sales Support		..	..	..	..	1,726,970
Add Direct Subsidy		..	..	..	..	1,709
Total Cost of Support for Pork Exports					..		1,728,679
							£1,952,451									£1,952,451

Pig (Insurance) Fund for Year ended 31st December, 1965

								£									£
Balance at 1st January, 1965				..	..	..	..	14,165	Levies	..	..	..	..	..	..	..	177,875
Compensation	..	..	..	..	..	..	..	152,938
Balance at 31st December, 1965				..	..	..	..	10,772
								£177,875									£177,875

Bacon (Price Stabilisation) Fund for Year ended 31st December, 1965

						£	£								£
Bacon Exports:								Balance at 1st January, 1965			..	..	..	..	315,225
Purchases	..	..	..	..	..	8,891,423
Freight	..	..	..	..	..	237,497		Investment Interest	..	..	..	..	..	..	464
Insurance	..	..	..	..	..	3,247
								Exchequer Contribution		..	..	..	..	..	2,860,000
Cost of Bacon Sold		..	..	..	..	9,132,167
Less: Realised on Sale			..	..	..	6,572,288
Cost of Sales Support		..	..	..	..	2,559,879
Add: Direct Subsidy		..	..	..	..	95,793
Total Cost of Support for Bacon Exports							2,655,672
Balance at 31st December, 1965			..	..	..		520,017
							£3,175,689								£3,175,689

Balance Sheet as at 31st December, 1965

LIABILITIES									ASSETS
								£									£
Bank	..	..	..	..	..	..	..	293,717	Sundry Debtors		..	..	..	..	..	..	877,591
Sundry Creditors		..	..	..	..	..	..	837,948	Sow Distribution Scheme—Value of Contracts						..	..	17,507
Sow Distribution Scheme—Reserve				..	..	..	..	2,000	Investments at cost—Bacon (Price Stabilisation) Fund							..	14,845
									(Market Value at 31st December, 1965—£14,156)								14,845
Bacon (Price Stabilisation) Fund				..	..	..	..	520,017
									Fixtures and Fittings			..	..	..	..	..	20
Pigs (Insurance) Fund			..	..	..	..	..	10,772
									Lands	..	..	..	..	..	..	..	4,840
									General Fund	..	..	..	..	..	..	..	749,651
								£1,664,454									£1,664,454

R. B. GODSIL, Chairman.

W. R. DAY, General Manager.

29th November, 1966.

REPORT OF THE COMPTROLLER AND AUDITOR GENERAL

1. The General Fund Account for the year shows a deficit of £749,651 compared with a surplus of £741,520 for the preceding year. The deficit arose through the increase from £302,560 to £1,728,679 in the cost of support for pork exports.

2. Because of the deficit on the General Fund there was no amount available for transfer to the Bacon (Price Stabilisation) Fund and the income of that fund consisted of an Exchequer Contribution of £2,860,000 as compared with £1,400,000 in the previous year. The account of the Bacon (Price Stabilisation) Fund shows a surplus of £520,017 which, together with bank accommodation, was utilised to finance the deficit referred to in the previous paragraph.

3. I have examined the foregoing Accounts and Balance Sheet as required by Section 16 of the Pigs and Bacon (Amendment) Act, 1961. They have been prepared in the form approved by the Minister for Agriculture and Fisheries, and are as shown by the books of the Pigs and Bacon Commission. I have obtained all the information and explanations that I have required. In my opinion these Accounts and Balance Sheet are properly drawn up so as to exhibit a true and fair view of the transactions of the Commission for the year ended 31st December, 1965, and of the state of its affairs at that date.

E. F. SUTTLE,

Comptroller and Auditor General.

2 Nollaig, 1966.