Central Government of Ghana

Vcash Flows Statement

For the year ended 31st December, 2022
Cash flows from operating activities GHc' million
Corporate Income tax 750,000
Custom and Excise duties 900,000
Value Added Taxes 500,000
Employee income tax (PAYE) 450,000
Fees and charges for services 350,000
Multilateral grants 160,000
Bilateral grants 240,000
Fines, Penalties and Forfeiture 260,000
Travel per diems -330,000
Compensation to employees: Established Post -155,000
Seminar and workshops -90,000
Training and capacity building -110,000
13% SSF contribution -30,000
Staff allowances -35,000
Administrative cost -45,000
Transfer to the Road Fund -70,000
Transfer to District Assembly Common Fund (DACF) -45,000
Compensation to employees: Non-established Post -60,000
Foreign travelling cost -180,000
Other expenses -75,000
Subsidies on utilities -160,000
Social benefits -195,000
Transfer to GET Fund -130,000
Repairs and maintenance -230,000
Net Cash Inflows From Operating Activities 1,670,000
Cash flows from investing activities
Dividend income 150,000
Recoveries of loans and advances 100,000
Loans and advances granted during the year -190,000
Financial investment during the year -200,000
Purchase of property plant and equipment -800,000
Expenditure on Infrastructure during the year -1,000,000
Net Cash Outflows from Investing Activities -1,940,000
Cash flows from financing activities
Borrowing during the year 200,000
Trust funds 340,000
Repayment of borrowing during the year -70,000
Interest paid -200,000
Net Cash Inflows from Financing Activities 270,000
Net Increase in Cash and Cash Equivalents during the year 0
Opening Cash and Cash Equivalents 5000
Closing Cash and Cash Equivalents 5,000

Total Payments -3,600,000

Surplus 3,600,000
Opening Cash Balance 5,000
Closing Cash Balance 3,605,000
 Central Government of Ghana
Statement of Receipts and Payments
For the year ended 31st December, 2022
Receipts GHc' million
Corporate Income tax 750,000
Custom and Excise duties 900,000
Value Added Taxes 500,000
Employee income tax (PAYE) 450,000
Fees and charges for services 350,000
Dividend income 150,000
Multilateral grants 160,000
Bilateral grants 240,000
Fines, Penalties and Forfeiture 260,000
Recoveries of loans and advances 100,000
Borrowing during the year 200,000
Trust funds 340,000
Total Receipts 4,400,000
Payments
Travel per diems 330,000
Repayment of borrowing during the year 70,000
Loans and advances granted during the year 190,000
Financial investment during the year 200,000
Compensation to employees: Established Post 155,000
Seminar and workshops 90,000
Training and capacity building 110,000
13% SSF contribution 30,000
Staff allowances 35,000
Administrative cost 45,000
Transfer to the Road Fund 70,000
Transfer to District Assembly Common Fund (DACF) 45,000
Compensation to employees: Non-established Post 60,000
Foreign travelling cost 180,000
Other expenses 75,000
Purchase of property plant and equipment 800,000
Expenditure on Infrastructure during the year 1,000,000
Interest paid 200,000
Subsidies on utilities 160,000
Social benefits 195,000
Transfer to GET Fund 130,000
Repairs and maintenance 230,000
Total Payments 4,400,000
Surplus 0
Opening Cash Balance 5,000
Closing Cash Balance 5,000
Corporate Income tax 750,000
Custom and Excise duties 900,000
Value Added Taxes 500,000
Employee income tax (PAYE) 450,000
Fees and charges for services 350,000
Dividend income 150,000
Multilateral grants 160,000
Bilateral grants 240,000
Fines, Penalties and Forfeiture 260,000
Recoveries of loans and advances 100,000
Borrowing during the year 200,000
Trust funds 340,000
Travel per diems 330,000
Repayment of borrowing during the year 70,000
Loans and advances granted during the year 190,000
Financial investment during the year 200,000
Compensation to employees: Established Post 155,000
Seminar and workshops 90,000
Training and capacity building 110,000
13% SSF contribution 30,000
Staff allowances 35,000
Administrative cost 45,000
Transfer to the Road Fund 70,000
Transfer to District Assembly Common Fund (DACF) 45,000
Compensation to employees: Non-established Post 60,000
Foreign travelling cost 180,000
Other expenses 75,000
Purchase of property plant and equipment 800,000
Expenditure on Infrastructure during the year 1,000,000
Interest paid 200,000
Subsidies on utilities 160,000
Social benefits 195,000
Transfer to GET Fund 130,000
Repairs and maintenance 230,000
 Property, WIP:
Plant & Infrastructu
Non Current Assets: Cost Equipment re
Opening Balances 300,000 500,000
Additions 800,000 1,000,000
Transfers - 750,000
Closing Balance 1,100,000 750,000

Non Current Assets: Depreciation

Opening Balances 180,000 -
Charge for the year 220,000 -
Closing Balances 400,000 -

Net Book Value 700,000 750,000

Cash and
Loans and
cash
advances
Cuurent Assets equivalent
Opening Balances 5,000 200,000
Additions 190,000
Recoveries -100000
Corporate Income Tax Receivable
VAT Receivable
Rent Prepaid

Move opening inventory to Use of Goods and Services

Inventory from Goods and Services
Closing Balances 5,000 290,000
Infrastructur
Financial
al Assets
Investments
Completed
800,000 250,000
200,000
750,000
1,550,000 450,000

240,000
80,000 300,000
320,000

1,230,000 450,000

Inventories
Receivables Prepayments
45,000

20000
38000
5400

-45000
26000
58000 5400 26,000
 Central Government of Ghana
Statement of Financial Position
As at 31st December, 2022
Current Assets
Cash and cash equivalent 5,000
Loans and advances 290,000
Receivables 58,000
Prepayments 5,400
Inventories 26,000
Total Current Assets 384,400

Non Current Assets

Property, Plant & Equipment 700,000
WIP: Infrastructure 750,000
Infrastructural Assets Completed 1,230,000
Financial Investments 450,000
Total Non Current Assets 3,130,000

Total Assets 3,514,400

Current Liabilities
Payables 175,000
Trust Funds 600,000
Accruals 290,800
Total Current Liabilities 1,065,800

Non Current Liabilities

Debt 580,000
Deferred Grants 12,000
Total Non Current Liabilities 592,000

Total Liabilities 1,657,800

Net Assets
Accummulated Fund 1,856,600

Total Liabilities and Net Assets 3,514,400

Non Current Liabilities Debt Deferred
Grants
Opening Balances 450,000
Additions 200,000 12,000
Repayment of borrowing
during the year - 70,000
Closing Balances 580,000 12,000

Trust
Current Liabilities Payables Accruals
Funds
Opening Balances 150,000 260,000
Additions 25,000 340,000
Interest Accrued 30,000
Salaries outstanding 40,000
Accrued DACF Expense 220,800
Closing Balances 175,000 600,000 290,800
 Accumulated
fund

Opening Balance 820,000

Surplus 1,036,600
Closing Balance 1,856,600
 Supplementary
Original Budget
Budget

Revenue GHc'000 GHc'000

Direct taxes 1,000,000 250,000
Indirect taxes 1,200,000 180,000
Total Tax Revenue 2,200,000 430,000
Non-tax revenue 400,000 90,000
Grants 250,000 235,000
Total Revenue 2,850,000 755,000
Expenditure
Compensation to employees 250,000 50,000
Use of Goods and Service 700,000 270,000
Infrastructure 800,000
Property, Plant & Equipment 600,000 175,000
Interest expenses 150,000 60,000
Subsidies/grants and transfers 405,000
Social benefits 170,000 20,000
Other expenses 80,000
Consumption of Fixed Capital - -
3,155,000 575,000
Surplus - 305,000 180,000
Final Budget Actual Outturn Variance

GHc'000 GHc'000 GHc'000

1,250,000 1,220,000 - 30,000
1,380,000 1,438,000 58,000
2,630,000 2,658,000 28,000
490,000 760,000 270,000
485,000 388,000 - 97,000
3,605,000 3,806,000 201,000

300,000 320,000 - 20,000

970,000 1,023,600 - 53,600
800,000 1,000,000 - 200,000
775,000 800,000 - 25,000
210,000 230,000 - 20,000
405,000 625,800 - 220,800
190,000 195,000 - 5,000
80,000 75,000 5,000
- 300,000 - 300,000
3,730,000 4,569,400 - 839,400
- 125,000 - 763,400 - 638,400
 Direct Indirect Total Tax Non-tax
taxes taxes Revenue revenue
Corporate Income tax 750,000
Custom and Excise duties 900,000
Value Added Taxes 500,000
Employee income tax (PAYE) 450,000
Fees and charges for services 350,000
Dividend income 150,000
Multilateral grants
Bilateral grants
Fines, Penalties and Forfeiture 260,000
Receivables 20000 38000
Deferred Grants
Total Revenue 1,220,000 1438000 2,658,000 760000
Grants

160,000
240,000

-12000
388000
 Compensation Use of Goods
to employees and Service

Travel per diems 330,000

Compensation to employees: Established Post 155,000
Seminar and workshops 90,000
Training and capacity building 110,000
13% SSF contribution 30,000
Staff allowances 35,000
Administrative cost 45,000
Transfer to the Road Fund
Transfer to District Assembly Common Fund (DACF)
Compensation to employees: Non-established Post 60,000
Foreign travelling cost 180,000
Other expenses
Interest paid
Subsidies on utilities
Social benefits
Transfer to GET Fund
Repairs and maintenance 230,000
Accrued Expenses 40,000 25,000
Prepaid expenses - 5,400
Opening Inventories 45,000
Closing Inventories - 26,000
Consumption of Fixed Capital
Total Expenses Incured 320,000 1,023,600

DACF Expenses (10% of Total Tax Revenue)

Amount Paid
DACF Expense Accrued
 Subsidies/ Consumption
Interest Social Other
grants and of Fixed
expenses benefits expenses
transfers Capital

70,000
45,000

75,000
200,000
160,000
195,000
130,000

30,000 220,800

300,000
230,000 625,800 195,000 75,000 300,000

265800
45000
220800
 Central Governmen t of Ghana
Statement of Financial Performance
For the Year Ended 31st Decemeber, 2022
Revenue
Direct taxes 1,220,000
Indirect taxes 1438000
Total Tax Revenue 2,658,000
Non-tax revenue 760000
Grants 388000
Total Revenue 3,806,000
Expenses
Compensation to employees 320000
Use of Goods and Service 1023600
Interest expenses 230000
Subsidies/grants and transfers 625800
Social benefits 195000
Other expenses 75000
Consumption of Fixed Capital 300000
Total Expenses 2769400
Surplus 1,036,600