GOVERNMENT OF THE REPUBLIC OF UGANDA

[Type name of the entity]

Reports and Financial Statements

for the Year Ended 30 June 2018

For Accounting Officers of the Central Government

 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Table of Contents
Statement of Responsibilities of the Accounting Officer..................................................................................................2
Commentary on the Financial Statements by the Accounting Officer..............................................................................3
Commentary on the Financial Statements by the Head of Accounts.................................................................................6
Statement of Financial Performance.................................................................................................................................7
Statement of Financial Position........................................................................................................................................8
Statement of Changes in Equity (Net Worth)...................................................................................................................8
Cash flow Statement for the year ended [Direct Method].................................................................................................9
Statement of Appropriation Account [Based On Services Voted]..................................................................................11
Statement of Appropriation Account [based on nature of expenditure]..........................................................................12
Reconciliation between total expenditure per Appropriation Accounts and per Statement of Financial Performance....13
Notes to the Financial Statements...................................................................................................................................14
Accounting Policies..................................................................................................................................................14
Other Notes to the Financial Statements....................................................................................................................19
Statement of Performance.........................................................................................................................................27
Statement of Revenues collected during the year......................................................................................................28
Statement of Arrears of Revenues [Based on source of revenue]..............................................................................29
Statement of contingent liabilities and guarantees.....................................................................................................30
Statement of non-quantifiable contingent liabilities..................................................................................................31
Statement of Outstanding Commitments...................................................................................................................32
Statement of losses of public money and stores written off, and claims abandoned during the year.........................33
Statement of reported losses of public moneys, stores and other assets whether or not written off during the year...34
Summary statement of stores and other assets (physical assets) as at the end of the year..........................................35
Schedule of Letters of Credit.....................................................................................................................................36
Schedule of Project Balances....................................................................................................................................37
Annexes to the Financial Statements.........................................................................................................................38
Annex (i): Pension Payroll..................................................................................................................................38
Annex (iii): Trial Balance....................................................................................................................................38
Annex (iv): Bank Reconciliations and list of all bank accounts...........................................................................38
Annex (V): Schedule of Verified Arrears.............................................................................................................38
Annex (vi):Summary Staff Payroll.......................................................................................................................39

1
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Statement of Responsibilities of the Accounting Officer

The financial statements set out on pages …to…have been prepared in accordance with the provisions of
the Public Finance Management Act, 2015 (the Act). The financial statements have been prepared on the
modified cash basis of accounting and comply with the generally accepted accounting practice for the
public sector. Under the modified cash basis of accounting, only financial and non-produced assets and
liabilities are recognized and presented in these financial statements.

In accordance with the provisions of Section 45 and Schedule 5 of the Public Finance Management Act,
2015, I am responsible for and personally accountable to Parliament for the activities of the vote to which I
am the accounting officer. Further, I am responsible for the regularity and proper use of the money
appropriated to the vote to which I am the Accounting Officer. I am also responsible for authorizing any
commitments made by the vote and for controlling resources received, held or disposed of by or on account
of the vote. Finally, I am responsible for putting in place effective systems of risk management and internal
control in respect to all resources and transactions of the vote.

Section 45 (3) of the Act require the Accounting Officer to enter into an annual budget performance
contract with the Secretary to the Treasury which shall bind the Accounting Officer to deliver on the
activities in the work plan of the vote for a financial year.

Sections 50 and 51 of the Act respectively require me to prepare and submit half-yearly financial
statements of my vote to the Secretary to the Treasury, and also to prepare and submit annual financial
statements of my vote to the Auditor General for audit and to the Accountant General within two months
after the end of each financial year.

Accordingly, I am pleased to report that I have complied with these provisions in all material respects and I
am also pleased to submit the required financial statements in compliance with the Act. I have provided,
and will continue to provide all the information and explanations as maybe required in connection with
these financial statements.

To the best of my knowledge and belief, these financial statements agree with the books of account, which
have been properly kept.

I accept responsibility for the integrity and objectivity of these financial statements, the financial
information they contain and their compliance with the Public Finance Management Act, 2015.

…………………………………………………………………………………………….
Accounting Officer [Names & Signature]

…………………………….
Date

2
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Commentary on the Financial Statements by the Accounting Officer

General Information about the Reporting Entity

Please provide the following information within a maximum of a two page commentary!

Principal Activity of the Vote

The... (Name of the entity) is mandated under … (make reference to relevant legislation)… to …. (Name
the key vote function)
(List of entities (agencies, parastatals) under the supervision of the Accounting Officer)

Key Performance highlights

During the reporting period, the vote undertook (mention significant outputs of the vote as per the
Ministerial policy statement and any financial management challenges faced in meeting the set targets, this
should include a report on any losses and action taken by the reporting date)

Provide where applicable a graphical or pictorial illustration of major achievements within the reporting period.

Risk Management Practice and Internal Control

The vote maintained a system of internal control through…(explain how the entity designed, implemented
and maintained appropriate risk management practices and internal controls to: comply with relevant
legislative and policy requirements; accurately record all relevant financial transactions; and to prevent or
detect and correct misstatements, whether due to fraud or error.)
Report on achievements of the audit committee and internal audit as well as progress on implementaiton of
their recommendaitons

Comment on the Payroll for both salary and Pensions

Action on Parliamentary Recommendations

Provide high level summary report of actions taken on the recommendations of Parliament based on the
reports of the Auditor General
Annex report on action taken on recommendations of Parliament based on reports of the Auditor General

…………………………………………………………………………………………….
Accounting Officer [Names & Signature]

…………………………….
Date

3
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Commentary on the Financial Statements by the Head of Accounts

Give a maximum of a two page commentary on financial performance and financial position of the vote
covering a trend analysis in comparison to previous year’s performance.

1) Commentary on the Income and Expenditure of the vote against budget

2) Comment on the Asset and Liability of the vote and mention any significant acquisition or disposal of
asset as well as liability incurred or settled during the reporting period
3) Comment on any multiyear commitment and outstanding obligation by year end
4) Comment(s)/ explanatory notes on any adjustments made in the Statement of Changes in Equity or
Reconciliation of movement of cash during the year if any
5) Departure from accounting principles or practice and justification if any

I take full responsibility for the completeness and integrity of these Financial Statements

…………………………………………………………………………………………….
Head of Accounts [Names & Signature]

…………………………….
Date

6
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Statement of Financial Performance

[Based on classification of expenditures by nature]
Note Actual Actual
30 June 2018 30 June 2017
(Shs) (Shs)
OPERATING REVENUE
Revenue
Taxes 2
External Grants Received 3
Transfers received from the Consolidated Fund 4
Transfers from the Contingencies Fund 5
Transfers received from Other Government units 6
Non – Tax revenue 7
Total operating revenue
OPERATING EXPENSES
Employee costs 8
Goods and services consumed 9
Consumption of property, plant & equipment 10
Subsidies 11
Transfers to other Organisations 12
Social benefits 13
Other operating expenses 14
Total operating expenses
Excess of revenue over expenditure from operating
activities
Foreign exchange loss (Gain) 15
Finance costs 16
Transfers to Treasury 17
Excess of Revenue over expenditure for the year

…………………………………………………………………………………………………
Accounting Officer [Names & Signature]

7
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Statement of Financial Position

Notes 30 June 2018 30 June 2017
(Shs) (Shs)
ASSETS
Cash and cash equivalents 18
Receivables 19
Inventories 20
Investments 21
Non Produced Assets 22
Total Assets
LIABILITIES
Borrowings 23
Payables 24
Pension Liability 25
Total Liabilities
Net assets (liabilities)
REPRESENTED BY:-
Net Worth

Statement of Changes in Equity (Net Worth)

Schedul 30 June 2018 30 June 2017

e (Shs) (Shs)
At 1 July -  Net worth Last Year (B/F)
Less: Transfers to the UCF account ( Previous Year Balances)
+/- Adjustments ( Cash and cash equivalents))
Payables adjustments ( See statement of outstanding commitments)
Adjustments in the receivables
Revaluation reserve
 Add: Excess of revenue over expenditure for the Year
 Closing Net Financial Worth

…………………………………………………………………………………………………
Accounting Officer [Names & Signature]

8
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Cash flow Statement for the year ended [Direct Method]

30 June 2018 30 June 2017
(Shs) (Shs)
CASH FLOWS FROM OPERATING ACTIVITIES
Revenue from Operating activities
Taxes
External Grants Received
Transfers received from the Consolidated Fund
Transfers from the Contingencies Fund
Transfers received from Other Government units
Non – Tax revenue
Deposits received
Advances recovered
Less Transfer to Treasury (Balances and NTR)
Total Operating revenue
PAYMENTS FOR OPERATING EXPENSES:
Employee costs
Goods and services consumed
Subsidies
Transfers to Other Organisations
Social benefits
Other expenses
Foreign exchange loss/(gain)
Net Advances paid
Domestic arrears paid during the year
Pension Arrears paid during the Year
Losses of cash
Letters of Credit receivable
Total payments for operating activities
Net cash inflows/(outflows) from operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment
Purchase of non-produced assets
Proceeds from sale of property, plant and equipment
Purchase of investments
Proceeds from sale of investments
Net cash inflows/(outflows) from investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from external borrowings
Repayments of external borrowings
Proceeds from other domestic borrowings
Repayments of other domestic borrowings
Net cash flows from financing activities
Net increase (decrease) in cash and cash equivalents

…………………………………………………………………………………………………
Accounting Officer [Names & Signature]

9
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Cash flow Statement for the year ended (continued)

Reconciliation of movement of cash during the year

Notes 30 June 2018 30 June 2017
(Shs) (Shs)
At the beginning of the year
Less: Transfers to the UCF account ( Previous Year Balances)
Add/ (Less): Adjustments to the opening balance
Add/ (Less) : Adjustments in cash and cash equivalents
Net increase (decrease) of cash from the Cash flow Statement
At the end of the year

For purposes of the cash flow statement, cash and cash equivalents comprise

30 June 2018 30 June 2017

(Shs) (Shs)
Cash and bank balances 18
Cash and bank balances

…………………………………………………………………………………………………
Accounting Officer [Names & Signature]

10
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Statement of Appropriation Account [Based On Services Voted]

Initial Approved Revised Warrants Actual Variance
Budget Approved Budget 30 June 30 June 2018 30 June 2017
30 June 2018 30 June 2018 2018
(Shs) (Shs) (Shs) (Shs)
(a) (b) (Shs) (d) (b-d)
©
RECEIPTS
Taxes
Non – Tax revenue
Transfers received from the Consolidated Fund
Transfers from the Contingencies Fund
Grants Received
Transfers received from Other Government
units

Total receipts
EXPENDITURE- by services as per
appropriation

Total Expenditure
Net Receipts/Payments

…………………………………………………………………………………………………
Accounting Officer [Names & Signature]

11
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Statement of Appropriation Account [based on nature of expenditure]

Initial Approved Revised Approved Warrants Actual Variance
Budget Budget 30 June 2018 30 June 2018 30 June 2018
30 June 2018 30 June 2018
(Shs) (Shs) (Shs) (Shs) (Shs)
(a) (b) © (d) (b-d)
RECEIPTS
Taxes
Non – Tax revenue
Transfers received from the Consolidated Fund
Transfers from the Contingencies Fund
Grants Received
Transfers received from Other Government
units

Total receipts
EXPENDITURE-by nature of expenditure
Employee costs
Goods and services consumed
Consumption of property, plant & equipment
Subsidies
Transfers to other Organisations
Social benefits
Other expenses
Domestic arrears paid
Finance costs
Total expenditure
Net Receipts/Payments

…………………………………………………………………………………………………
Accounting Officer [Names & Signature]

12
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Reconciliation between total expenditure per Appropriation Accounts and per Statement of
Financial Performance

Actual Actual
30 June 2018 30 June 2017
(Shs) (Shs)

Total expenditure per Appropriation Account

Add:
Letters of credit receivable prior year but
delivered during the year

Less:
Letters of credit receivable at year-end
Domestic Arrears paid

Total Expenditure per Statement of Financial

Performance

…………………………………………………………………………………………………
Accounting Officer [Names & Signature]

13
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Notes to the Financial Statements

Accounting Policies
These are the specific principles, bases, conventions, rules and practices adopted by the Government of the
Republic of Uganda in preparing and presenting the financial statements. The principal accounting policies
adopted in the preparation of these financial statements are set out below. These policies have been
consistently applied in all material aspects unless otherwise stated.
1) General Information
As required by Section 51(1) of the Public Finance Management Act, 2015, each vote shall prepare
annual financial statements for audit, and submit a copy to the Accountant General.

2) Reporting Entity
…….[Name of MDA]……….. is a reporting entity of the Government of the Republic of Uganda and is
domiciled in Uganda [for Missions state Country of residence].
The principal address of the entity is:
a) Put full address, location, official numbers and website address
b) If established by an Act of Parliament, please cite it and the key mandates, mission, core values
etc.
c) If there are any branch offices, state where these are physically located.
3) The Consolidated Fund
Is the Consolidated Fund as established by the Article 153 of the Constitution of the Republic of Uganda.
As provided by Section 30 of the Public Finance Management Act, 2015 (the Act), it is the Fund into
which all revenues or other money raised or received for the purpose of the Government shall be paid.
Except for receivables into another public fund established for a special purpose (for example the
Petroleum Fund) where this is authorized by an Act of Parliament, or where a vote, state enterprise or
public corporation shall retain revenue collected or received as authorized through an appropriation by
Parliament or is a monetary grant exempted under Section 44 of the ACT.
Withdrawals from the Consolidated Fund shall only be done upon the authority of a warrant of expenditure
issued by the Minister of Finance to the Accountant General after a grant of credit has been issued to the
Minister by the Auditor General in the first instance. The withdrawal can be effected only when: (a) the
expenditure has been authorized by an Appropriation Act or a Supplementary Appropriation Act; (b) is a
statutory expenditure; (c) for repaying money received in error by the Consolidated Fund; (d) and for
paying sums required for an advance, refund, rebate or drawback that are provided for in this and other Act
of Parliament.
4) The Contingencies Fund
Established by Section 26 of the Public Finance Management Act, 2015, which in every financial year,
shall be replenished with an amount 0.5% of the appropriated annual budget of the Government of the
previous financial year without consideration of any supplementary budget. The Fund shall provide
funding for natural disasters.
5) Classified expenditures
Classified expenditures are included under supply of goods and services in the Statement of Financial
Performance, and are audited separately. The money appropriated for classified expenditure shall only be
used for defense and national security purposes. A committee of Parliament comprising the chairpersons of
the committees responsible for budget; defense and internal affairs; and another member appointed by the
Speaker will be responsible for scrutiny of classified expenditure budget.

14
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

6) Basis of preparation of financial statements

The financial statements have been prepared in accordance with the requirements of the Public Finance
Management Act, 2015 [the Act] and comply with generally accepted accounting principles. The Financial
Statements have consistently been prepared using the modified cash basis of accounting except where
stated otherwise. The modified cash basis of accounting recognizes revenue when cash is received and
expenses (except for expenses approved to be accrued) when incurred but within the approved budget.
7) Going concern consideration
The financial statements have been prepared on a going concern basis.
8) Presentation currency
The reporting and presentation currency is the Uganda Shilling (Shs), which is the functional currency of
the Republic of Uganda. Items included in the financial statements are measured in the currency of the
primary economic environment in which the entity operates.
9) Reporting Period
The reporting period for these financial statements is from 1 July……. to the next 30 June……. Prior
period comparative information has been presented in the current year’s financial statements. Where
necessary figures included in the prior period financial statements have been reclassified to ensure that the
format in which the information is presented is consistent with the format in the current year’s financial
statements.
10) Appropriation
The initial approved budget is the original forecast as presented and approved by Parliament. A revised
budget is the initial approved budget adjusted by a supplementary or reallocations/ virements.
11) Revenue
Revenue represents cash and grants in kind received by the entity during the financial year and comprise;
taxes, transfers from the Consolidated Fund, transfers from the Contingency Fund, grants received and
non-tax revenue. Revenues are recognized as follows;
i) Tax revenues
Tax revenue is recognized when received. Taxes are levied with the authority of Parliament subject to
Article 152 of the Constitution of the Republic of Uganda. Payment of tax does not necessarily result into
an entitlement to the taxpayer to receive equivalent value of services or benefits.
ii) Grants
Grants are received by the entity either as cash or in-kind. All grants (aid assistance) are recognized as
income when received. In-kind receipts (donations) are recognized at fair value.
iii) Transfers received
Transfers received include; transfers received from the Consolidated Fund, transfers received from the
Contingency Fund and transfers received from other government units. All transfers are recognized when
received by the Accounting Officers.

iv) Non-Tax Revenue

Non-Tax Revenue includes: interest/gains associated from ownership of shares, proceeds from hire of assets,
sale of designated goods and services, and fines/penalties. Non-Tax Revenue, whether directly collected by
the entity or collected by another entity on its behalf is recognized when received.
12) Expenses

15
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Generally, expenditure is recognized when it is incurred and settled within the financial year. Qualifying
unsettled expenditure is recognised in the Statement of Financial position as payables.

13) Property, Plant and Equipment (physical assets or fixed assets)

Property, plant and equipment (PPE) principally comprises buildings, dams, roads and highways,
hydropower stations, plant, vehicles, equipment, and any other infrastructure assets but does not include
land and regenerative natural resources such as forests and mineral resources.
Acquisitions of PPE are recorded in the asset register on receipt of the item at cost and expensed fully through the
Statement of Financial Performance. Cost of the item is defined as the total cost of acquisition. Where the cost of the
PPE cannot be determined accurately, the PPE is stated at fair value. Subsequent repairs and maintenance costs of
PPE are also expensed as goods and services consumed in the Statement of Financial Performance.
Proceeds from disposal of property, plant and equipment are recognized as non-tax revenue in the period in which it
is received.

14) Translation of transactions in foreign currency

Foreign currency transactions are translated into Uganda Shillings using the exchange rates prevailing at the dates of
the transactions (spot rates). These result into realized gains/losses which are recognized in the Statement of
Financial Performance. Foreign currency assets and liabilities held by the entity at year-end are translated into
Uganda Shillings using the period closing rate for reporting purposes resulting into unrealized gains/losses. The
unrealized gains/losses are recognized in the statement of changes in Equity through the revaluation reserve.

15) Revaluation Gains/Losses

Unrealized gains or losses arising from changes in the value of investments, marketable securities held for
investment purposes, and from changes in the values of property, plant and equipments are not recognized
in the financial statements.
16) Cash and cash equivalents
Cash and cash equivalents are carried in the balance sheet at cost. For the purposes of the cash flow
statement, cash and cash equivalents comprise cash on hand, deposits held at call with banks, other short-
term highly liquid investments, and bank overdrafts. In the statement of financial position bank overdrafts
are included in borrowings.
17) Unspent cash balances
In accordance with the requirement of the Public Finance Management Act, 2015, unspent cash balances
by Government entities at the end of the financial year are returned through the Single Treasury Account to
the Consolidated Fund in the course of the financial year.
Escrow Account balances are to be recognized in the Financial Position of the responsible entity and
expensed through the Financial Performance in the period when funds are utilized.

18) Receivables
(i) Advances and other receivables
Receivables are carried at historical cost and are written down by recovered receipts or write –off of
unrecoverable amounts (bad debts are written-off with the approval of Parliament, when identified in the
Statement of Changes in Equity).
(ii) Letters of credit

16
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Procurement of goods and services through letters of credit which are cash covered are recognized in the
statement of appropriation when the letter of credit is opened. Outstanding letters of credit at period-end
are treated as receivable and expensed through the Statement of Financial Performance in the period when
the goods and services are delivered.
19) Inventories
Comprise consumable supplies expensed in the period when acquired. Inventories that qualify for
recognition must be initially reflected at cost. Where they are acquired at no cost, or for nominal
consideration, their cost shall be their fair value at the date of acquisition.
20) Investment properties
Investment property principally comprises land, office, commercial and residential buildings, and other
physical assets, which is held for long-term rental income and is not occupied internally. Investment
property is treated as a long-term investment and is carried at cost.
21) Investments
Investments are classified into three groupings, namely: investments held for trading; investments held-
to-maturity; and investments available-for-sale.
Investments that are acquired principally for the purposes of generating profit from short-term fluctuations
in price are classified as “trading investments”, and are, therefore, current assets and are treated as
monetary assets.
Investments with fixed maturities and there is an intention and ability to hold them to maturity dates are
classified as “Investments held-to-maturity”, and are, therefore, non-current assets, and are treated as
non- monetary assets.
Investments intended to be held for an indefinite period of time, which may be sold in response to liquidity
needs or changes in interest rates, are classified as “investments available-for-sale”, and are therefore
non-current assets and regarded as non-monetary assets. However, if there is an expressed intention to sell
these within 12 months, then these are treated as current assets and are monetary assets.
Appropriate classification of investments at the time of purchase and re-evaluation of such designation are
carried out on a regular basis but any resulting reclassifications are rare and cannot be made from “trading
investments” to “investments held to maturity”
All investments in the balance sheet are carried at historical cost. Non-financial assets are measured at net
worth. For investments quoted in foreign currency, the historical cost is translated at the closing rate.
22) Projects expenditure
Government projects are a series of undertakings of a reporting entity with specific objectives and a
defined time frame and could be either: (a) fully funded by a Government; (b) jointly funded by
Government and a development partner; (c) fully funded by a development partner through either budget
support or project support; and (d) fully funded by development partner through provision of physical
items rather than funds.
Fully or partly Government funded project expenditure is recognized in the statement of financial
performance of the reporting entity to the extent of funding received from Government.
23) Borrowings
Borrowings are initially recorded in the Statement of Financial Position [the balance sheet] at cost net of
any transaction costs paid.
Interest expense and any other expense on borrowings are recognized in the Statement of Financial
Performance when they fall due.

17
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

24) Employee benefits

Employee benefits include salaries, and other related-employment costs. Employee benefits are recognized
when incurred. No provision is made for accrued leave or reimbursable duty allowances.
25) Contingent liabilities
Contingent liabilities are disclosed in a memorandum statement (Statement of Outstanding Commitments)
of the entity when it’s probable that an outflow of economic benefits or service potential will flow from the
entity or when an outflow of economic benefits or service potential is probable but cannot be measured
reliably. Contingent liabilities comprise government guarantees issued, court awards that have been
appealed by the Attorney General, those arising from Public Private Partnerships (PPPs) etc. Contingent
assets are neither recognized nor disclosed.
26) Commitments
Commitments include operating and capital commitments arising from non-cancelable contractual or
statutory obligations. Interest commitments on loans and commitments relating to employment contracts
are not included in the Statement of Outstanding Commitments. Outstanding commitments relating to non-
cancelable contractual or statutory obligation where goods have been delivered or service provided are
included in the statement of financial position as payables and in the Statement of Outstanding
Commitments to the extent of the appropriation.
27) Public Private Partnerships
Any investment by the Government in a Public Private Partnership may be through a joint venture or as an
associate or as a major shareholder. Except for the latter, these are accounted for as investments whether
held for trading purposes or otherwise. The financial statements in that case are consolidated as if the other
entity is a controlled entity in accordance with IPSAS 38.
In other instances where the Government provides certain guarantees which could crystalize and result into
an outflow of resources, the guarantees are quantified and disclosed in the memorandum Statement of
Contingent Liabilities. The amounts disclosed as part of contingent liabilities represent the most likely
outflow of resources should certain events crystalize which are assessed annually. If the events crystalize,
the amounts become payables through the Statement of Financial Performance and Statement of Financial
Position on an accrual basis

18
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Other Notes to the Financial Statements

Note 1: Exchange Rates
All monetary amounts in the financial statements are expressed in Uganda Shillings, the
functional currency. The Uganda Shilling closing rates (the Bank of Uganda middle rate) for
major currencies were:

30 June 2018 30 June 2017

United States Dollar
British Pound
Euro
Note 2: Tax Revenues
Tax revenues comprise both direct and indirect taxes levied and collected on behalf of
Government.

30 June 2018 30 June 2017

(Shs) (Shs)
Local Services Tax
Land fees
Business Licenses
Other tax revenues
Total taxation revenues

Note 3: External Grants received

30 June 2018 30 June 2017
(Shs) (Shs)
Grants from foreign governments
Grants from International Organizations
Total Grants

Note 4: Transfers Received From the Treasury – Consolidated Fund

30 June 2018 30 June 2017

(Shs) (Shs)
Transfers from the treasury- current
Transfers from the treasury- capital
Total Transfers

Note 5: Transfers Received From the Treasury- Contingencies Fund

30 June 2018 30 June 2017

(Shs) (Shs)
Response to natural crisis – location A
Response to natural crisis- location B
Total Transfers for the Year

19
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Note 6: Transfers received from Other Government Units

Comprise funds appropriated under one vote but transferred to another vote for execution of the
intended activities. For instance road maintenance funds, grants recognised by treasury but
transferred to other executing MALGS, etc
30 June 2018 30 June 2017
(Shs) (Shs)
Transfers received from other Gov’t Units- Current
(Name of the Government unit)
Transfers received from other Gov’t units- Capital
(Name of the Government unit)
Total

Note 7: Non-Tax Revenues

Comprise non-tax revenues from exchange transactions collected during the year were as follows
30 June 2018 30 June 2017
(Shs) (Shs)
Investment income
Dividends
Rent
Other property income (disposal of assets)
Sale of goods and services
Administrative fees and licenses
Court fines and Penalties
Other fines and Penalties
Miscellaneous Revenue
Total Non-Tax Revenue

Note 8: Employee Costs

Employee costs principally comprise:

30 June 2018 30 June 2017
(Shs) (Shs)
Wages and salaries
Social contributions
Other employment costs
Total employee costs.

Note 9: Goods and Services

Expenditure on goods and services during the year principally comprise the following:
30 June 2018 30 June 2017
(Shs) (Shs)
General expenses
Communications
Utility and property expenses
Supplies and services
Professional services
Insurances and licenses
Travel and transport
Maintenance
Inventories (goods purchased for resale)

20
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Total cost of goods and services

Note 10: Consumption of Property, Plant and Equipment (Fixed Assets)

As explained in accounting policy (15), property, plant and equipment (physical assets) are
expensed in the year of purchase i.e. they are depreciated at 100% in the year of purchase using
the cash basis of accounting.
30 June 2018 30 June 2017
(Shs) (Shs)
Non Residential buildings
Residential buildings
Roads and bridges
Transport equipment-
Machinery and equipment
Furniture and fittings
Other fixed assets
Total value of property, plant and equipment expensed

Note 11: Subsidies

Subsidies paid during the year are summarized as below:
Actuals Actuals
30 June 2018 30 June 2017
(Shs) (Shs)
To public corporations
To private enterprises
To private individuals
Total subsidies for the year
Note 12: Transfers to Other Organisations
Transfers made during the year are summarized as below:
Actuals Actuals
30 June 2018 30 June 2017
(Shs) (Shs)
Transfer to foreign Governments
Transfers to International Organisations
Transfers to other government units
To resident non-government units
Total transfers
Note 13: Social Benefits
Social benefits paid during the year comprise:
Actuals Actuals
30 June 2018 30 June 2017
(Shs) (Shs)
Pensions
Employer Social benefits
Total social benefits

21
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Note 14: Other Operating Expenses

These comprise:
Actuals Actuals
30 June 2018 30 June 2017
(Shs) (Shs)
Property expenses other than interest
Miscellaneous other expenses- current
Miscellaneous other expenses- capital
Total other operating expenses

Note 15: Foreign Exchange Gains and Losses

During the year, foreign exchange losses and gains were as follows:
30 June 2018 30 June 2017
(Shs) (Shs)
Realized loss (gain) (SFP)
Un/realized loss (gain) (SCE)
Net foreign exchange (gains)/ losses

Note 16: Finance costs

Schedule 30th June 2018 30 June 2017
(Shs) (Shs)

Interests on external debts (external

borrowings)
Interests on other domestic borrowings
Total finance cost

Note 17: Transfers to the Treasury

These comprise transfers back to the Consolidated Fund of unspent balances from the respective expenditure accounts,
transfers of Non tax revenue collected, , unspent salaries, among others
30 June 2018 30 June 2017
(Shs) (Shs)
Non Tax revenue
Unspent Salary balances
Expenditure account balances
Total for the year.

22
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Note 18: Cash and cash equivalents

30 June 2018 30 June 2017
(Shs) (Shs)
DOMESTIC
Revenue accounts
Expenditure accounts
Project accounts
Collection accounts
Cash in transit
Cash at hand- Imprest
Others
Sub-total cash and bank balances- domestic
FOREIGN
Revenue Accounts
Project Accounts
Expenditure accounts
Collection accounts
Cash in transit
Cash at hand- Imprests
Others
Sub-total cash and bank balances- foreign
Total cash and bank balances
Any over drafts should be included under the respective bank accounts

Note 19: Receivables

Comprise the following receivables at the end of the year net of any provision for receivables
doubtful of recovery.
30 June 2018 30 June 2017
(Shs) (Shs)
DOMESTIC
Loans (short-term) -others
Advances
Outstanding letters of credit
Other accounts receivable
Total domestic receivables
FOREIGN
Loans (short-term) -others
Advances
Other accounts receivable
Total foreign receivables
Total receivables
Less provisions against doubtful accounts
Net receivables

Note 20: Inventories

Comprise strategic stock and other inventories purchased which have not been expensed.

30 June 2018 30 June 2017

(Shs) (Shs)
Strategic stock-petroleum products

23
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Other inventories( goods purchased for re-sale)

Total inventories

Note 21: Investments

Comprise investments as follows:
30 June 2018 30 June 2017
(Shs) (Shs)
Securities other than shares (long-term)-domestic -
Shares and other equity-domestic
Securities other than shares-foreign
Total investments

Note 22: Non Produced Assets

30 June 2018 30 June 2017
(Shs) (Shs)
Land
Cultivated Assets
Other Naturally occurring Assets
Total Non-Produced Assets

Note 23: Borrowings

30 June 2018 30 June 2017

(Shs) (Shs)
DOMESTIC
Loans from commercial banks
Interest payable on bank loans/borrowings
Other
Total domestic borrowings
FOREIGN
Loans from commercial banks
Interest payable on bank loans/borrowings
Other
Total foreign borrowings
Total borrowings

24
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Note 24: Payables

These are principally accounts payables, domestic and otherwise, outstanding at the year-end and comprise:

30 June 2018 30 June 2017

(Shs) (Shs)
Payables
Trade Creditors
Sundry Creditors
Committed Creditors
Accountable advances
Withholding tax payable
Deposits received
Advances from other Government units
Miscellaneous accounts payables
Total payables

The categorization and aging of the payables is as below;-

Current Previous Other Financial Total
Financial Financial Years
Year Year Shs
Shs Shs Shs
Utilities
Rent
Contributions to
International Organisations
Court Awards &
Compensations
Taxes and other deductions
Goods and services
Consumed
Non Produced Assets
Others
Total Payables

Note 25: Pension liabilities

Pension liabilities have been accrued in the financial statements because it is the policy of Government to pay pensions
to all former employees of the Government who qualified for pension under the provisions of the Pensions Act, Cap
281. In accordance with the provisions of the Pensions Act

30 June 2018 30 June 2017

(Shs) (Shs).
Former employees in Public Service
Former employees in Military Service
Former employees of the Education Service
Gratuity Arrears
Total

25
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

The aging of the pension liabilities is as below;-

Incurred in the Incurred in the Other Financial Total

current Previous Years
Financial Year Financial
Shs Year Shs Shs
Shs
Pensions
Gratuity
Total

26
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Statement of Performance
For the year ended 30 June 2018(Memorandum Statement)

Summary of Major Forecast Performance Actual Performance as at Explanations for the

Outputs for the Vote For FY ended June 2018 30 June 2018 performance variations

……………………………………………..
Accounting Officer [Names & Signature]

27
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Statement of Revenues collected during the year

[Based on source of revenue] Memorandum Statement

Actual Notes Actual Budget Variance

30 June 2017 30 June 2018 30 June 2018 30 June 2018
(Shs) (Shs) (Shs) (Shs)

RECEIPTS

Local Services Tax 2

Land fees 2
Business Licenses 2
Other tax revenues 2
Investment income 7
Dividends 7
Rent 7
Other property income (disposal of 7
assets)
Sale of goods and services 7
Administrative fees and licenses 7
Court fines and Penalties 7
Other fines and Penalties 7
Miscellaneous Revenue 7
Total Revenue

…………………………………………………………………………………………………
Accounting Officer [Names & Signature]

28
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Statement of Arrears of Revenues [Based on source of revenue]

(Memorandum Statement)

Arrears of Total Revenue billed Actual Amounts Amount Due to Cumulative

Revenue during the year collected remitted to the Consolidated Fund Arrears of
30 June 2017 (Shs) during the year UCF during the (Shs). Revenue at
(Shs) year 30 June 2018
(Shs) (Shs) (Shs)
RECEIPTS
Local Services Tax
Land fees
Business Licenses
Other tax revenues
Investment income
Dividends
Rent
Other property income
(disposal of assets)
Sale of goods and
services
Administrative fees and
licenses
Court fines and Penalties
Other fines and Penalties
Miscellaneous Revenue
Total operating revenue

…………………………………………………………………………………………………
Accounting Officer [Names & Signature]

29
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Statement of contingent liabilities and guarantees

[Memorandum Statement]

Schedul 30 June 2018 30 June 2017

e (Shs) (Shs)
DOMESTIC
Legal proceedings
Guarantees and indemnities
Guarantees of bank overdrafts
Guarantees under Public Private Partnerships
Other contingent liabilities
Total Domestic Contingencies
FOREIGN
Legal proceedings
Guarantees and indemnities
Guarantees of bank overdrafts
Guarantees under Public Private Partnerships
Other contingent liabilities
Total Foreign Contingencies

Total Contingent Liabilities

…………………………………………………………………………………………………
Accounting Officer [Names & Signature]

30
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Statement of non-quantifiable contingent liabilities

[Memorandum Statement]
Serial Brief description of liability, its origin, nature, the Type of Any other
numbe uncertainty, and period of identification liability comment/responsibility
r

…………………………………………………………………………………………………
Accounting Officer [Names & Signature]

31
 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Statement of Outstanding Commitments

[Commitments by nature of expenditure]

Outstandin Adjustments Prior years New Cumulative

g to the commitment outstanding outstanding
commitmen previous s paid during commitments commitments
ts at year’s the year incurred during
30 June 2018
beginning commitment the year
of year s
1 July (Shs) (Shs)
2017 (Shs) (Shs)
(Shs)
Operating Commitments
Employee costs
Pensions
Goods and services consumed
Subsidies
Transfers to Other Organisations
Social benefits
Deposits Received
Other operating expenses
Finance cost
Total operating commitments
Consumption of PPE and Non
produced Assets (Capital)
Non-produced assets
Property
Plant
Equipment
Total capital commitments
Total commitments – Payables
Total Commitments

…………………………………………………………………………………………………
Accounting Officer [Names & Signature]

32 Notes to the Financial Statements

 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Statement of losses of public money and stores written off, and claims abandoned during the year

Reference Opening Balance as at Losses written-off Cumulative

number of 1 July 2017 in the YR ended Losses written-off as
reported 30 June 2018 at
loss/write 30 June 2018
off/claim
abandoned. (Shs) (Shs) (Shs)
Losses of public moneys
(cash and cash equivalents)

Total losses of cash written

off
Losses of stores

Total losses of stores written

off
Other assets
Property
Plant
Equipments
Total losses of other assets
written off
Claims abandoned

Total value of claims

abandoned

Total losses of public funds,

stores and claims
abandoned

33 Notes to the Financial Statements

 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Statement of reported losses of public moneys, stores and other assets whether or not written off during
the year
Reference number Opening Balance Losses for the YR Cumulative
of reported as at 1 July 2017 ended Losses as at
loss/write off/claim 30 June 2018 30 June 2018
abandoned.
(Shs) (Shs) (Shs)
Losses of public moneys reported (cash
and cash equivalents)

Total losses of cash

Losses of stores reported.

Total losses of stores reported

Losses of other assets
Property
Plant
Equipments
Total losses of other assets reported

Total losses of public funds, stores and

other assets reported

…………………………………………………………………………………………………
Accounting Officer [Names & Signature]

34 Notes to the Financial Statements

 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Summary statement of stores and other assets (physical assets) as at the end of the year
Category/ Description Opening balance Additions during Disposals during Cumulative at 30
1 July 2017 the year1 the year June 2018
Cost 30 June 2018 30 June 2018 Cost
Cost cost

(Shs) (Shs) (Shs) (Shs)

Land
Non Residential buildings
Residential buildings
Roads and bridges
Transport equipment
Motor Vehicles
Trailers/ Semi-trailers
Ships and other marine
vessels
Railway locomotives
Aircrafts
Motor cycles and Bicycles
Other transport equipment
Machinery and equipment
Office equipment
Medical equipment
ICT Equipment
Laboratory and research
equipt
Other Machinery and
equipment
Furniture and fittings
Classified Assets
Cultivated Assets
Total value of physical assets
acquired, disposed of and
balances

…………………………………………………………………………………………………
Accounting Officer [Names & Signature]

1
Note that additions during the year should be the summation of assets captured in note 10 and the increment in note 22

35 Notes to the Financial Statements

 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Schedule of Letters of Credit

Name of Supplier LC Number Due date Bank Currency Amount
(Shs)

Total

…………………………………………………………………………………………………
Accounting Officer [Names & Signature]

36 Notes to the Financial Statements

 Government of the Republic of Uganda
Financial Statements for the Financial Year ended 30 June 2018

(Type here the Name of the Reporting Entity)

Schedule of Project Balances

Project Name End Funding Balance as Disbursements Payments Balance as at
Date Source/Agenc at 1 July for the Year for the Year 30 June 2018
y 2017 (Shs) (Shs) (Shs)
(Shs)

Total

37 Notes to the Financial Statements

Name of the Reporting entity
Annexes to the Financial Statements

Annexes to the Financial Statements

Annex (i): Pension Payroll

Name Last Position held IPPS no Pension no. Supplier no Amount

(IFMS)
1
2
3

Annex (ii): Schedule of Inventory

Category Opening balance as at Purchase/ Additions Usage/Disposal Obsolete Closing

1st July 2015 Cost Cost Cost balance
Cost 30 June 2018
Shs Shs Shs Shs Cost
Shs
1 e.g Drug (a), Visa stickers,
Passports

Annex (iii): Trial Balance

Annex (iv): Bank Reconciliations and list of all bank accounts
Annex (V): Schedule of Verified Arrears

Annexes to the Financial Statements

Name of the Reporting entity
Annexes to the Financial Statements

Annex (vi):Summary Staff Payroll

Salary scale Number of Employees at New employees to the Number of Number of Employees at
the beginning of the year vote either through employees the end of the year
1st July 2017 transfers or through transferred / 30 June 2018
recruitment retired/deceased
Specified scale
U1S
U1SE
U1E
U2
U3
U4
U5
U6
U7
U8
Contract Staff
Total

Annexes to the Financial Statements