2009 Financial Statements
Dear Chairman and Board of Directors,
For the implementation of the law provisions num,ber (19) for the year 2006 for Regulating the Labour Market, and according to the item number (9) from the article number (12), which require raising up a financial position reports quarterly for the Board of Directors about the Authority, and implying to article number (19) for the auditing of the Authority financial statements, I am pleased to present to the distinguished Board your audited financial report on the operations of the Authority for the period ended on 31 December 2009.
The audited financial reports consist on the following points:
- The net surplus provided from the Authority operations upto December 2009 amount to BD914,338. Which results from receiving an amount of BD5 million of the recurrent expenditure budget ad hoc from the Ministry of Finance, and an amount of BD440,046 other income. Total expenditure summed BD6,354,384. This depreciation was covered by previous years surplus. The book depreciation for 2009 reached BD1,820,524, where the management have played a major role in covering up this depreciation by holding employment in a few job and saving in many expenditures.
- The carrying book value of the fixed assets after deducting the depreciation up to December 2009 amount it to BD6,196,823. Which BD2,779,893 an asset donated by the EDB over the past 2005-2007, and BD3,416,930 assets purchased by the Authority
- We have achieved an amount of BD422,146 as an Bank interest income in short term fixed deposits. BD17,900 was achieved by other income sources.
- The total fees amount collected for Labour Fund (Tamkeen) and Ministry of Finance during 2009 was 97,257,201. Total amount of fees that are credited to the Business Owners at the end of 2009 was BD8,468,865.
Finally, I take this opportunity to extend my sincere thanks and gratitude to the Board of Directors for your unlimited support and your sudaidhalte have had the good effect in achieving the desired objectives. Further thanks go to all the staff of the Authority who has a body and basic prominent role in achieving this success.
Ali Ahmed Radhi
Chief Executive Officer
11 July 2010
Last Update: Sunday 22 August 2010