Summarised Forecast Financial Statements. A full set of forecast financial statements for the Cayman Islands Monetary Authority is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows: Operating Statement 2009/10 Budget $ 2008/9 Estimated Actual $ Revenue 17,950,000 15,778,858 Operating Expenses 17,950,000 15,532,347 Net Surplus/Deficit 0 246,511 Balance Sheet As at 30 June 2010 Budget $ As at 30 June 2009 Forecast $ Assets 106,333,757 115,063,172 Liabilities 86,000,000 84,669,308 Net Worth 20,333,757 30,393,864 Statement of Cash Flows 2009/10 Budget $ 2008/9 Estimated Actual $ Net cash flows from operating activities 652,328 (1,060,476) Net cash flows from investing activities (4,119,689) (594,778) Net cash flows from financing activities (10,023,733) 3,976,716
Summarised Forecast Financial Statements. A full set of forecast financial statements for Cayman Islands Airports Authority is provided in the Appendix to this Ownership Agreement. OPERATING STATEMENT 2014/15 TARGET $ 000's 2013/14 FORECAST $ 000's REVENUE 28,524,393 27,124,936 OPERATING EXPENSES 20,592,325 21,877,468 NET SURPLUS/DEFICIT 7,932,068 5,247,468 BALANCE SHEET AS AT JUNE 2015 $ 000's AS AT JUNE 2014 $ 000's ASSETS 84,536,904 76,953,692 LIABILITIES 8,087,003 8,801,175 NET WORTH 76,449,905 70,435,527 STATEMENT OF CASH FLOW 2014/15 TARGET $ 000's 2013/14 FORECAST $ 000's CASH FLOWS FROM OPERATING ACTIVIITES 9,328,573 7,098,086 CASH FLOWS FROM INVESTING ACTIVIITES -2,977,055 -1,159,268 CASH FLOWS FROM FINANCING ACTIVIITES -35,764 -33,020
Summarised Forecast Financial Statements. A full set of forecast financial statements for Cayman Airways Limited is provided in the Appendix to this Ownership Agreement. OPERATING STATEMENT 2013/14 TARGET $ 000's 2012/13 FORECAST $ 000's REVENUE 72,513,978 68,688,749 OPERATING EXPENSES 72,496,231 74,740,237 NET SURPLUS/DEFICIT 17,746 -6,046,912 BALANCE SHEET AS AT JUNE 2014 $ 000's AS AT JUNE 2013 $ 000's ASSETS 22,089,210 21,043,145 LIABILITIES 75,632,858 79,704,539 NET WORTH -53,543,648 -58,661,394 STATEMENT OF CASH FLOW 2013/14 TARGET $ 000's 2012/13 FORECAST $ 000's CASH FLOWS FROM OPERATING ACTIVIITES 2,158,860 4,166,945 CASH FLOWS FROM INVESTING ACTIVIITES -3,766,140 -2,494,293 CASH FLOWS FROM FINANCING ACTIVIITES 1,262,988 5,825,480 6. OTHER FINANCIAL INFORMATION Detailed below is information about specific financial transaction required to be included in the Ownership Agreement by the Public Management and Finance Law (2012 Revision). TRANSACTION AMOUNT FOR 2013/14 $ Equity Investments into Cayman Airways Limited 1,600,000 Capital Withdrawals from Cayman Airways Limited. 0 Dividend or Profit Distributions to be made by Cayman Airways Limited. 0 Government Loans to be made to Cayman Airways Limited. 0 Government Guarantees to be issued in relation to Cayman Airways Limited. Up to CI$19M for CIG approved borrowing to address informal debt (possible) Related Party Payments (Non Remuneration) made to Key Management Personnel 0 Remuneration payments made to key Management Personnel 728,000 Remuneration Payments made to Senior Management 1,280,000 NUMBER FOR 2013/14 Number of Key Management Personnel 9 Number of Senior Management 14
Summarised Forecast Financial Statements. A full set of forecast financial statements for Auditors Oversight Authority is provided in the Appendix to this Ownership Agreement. OPERATING STATEMENT 2014/15 TARGET $ 000's 2013/14 FORECAST $ 000's REVENUE 325,000 315,000 OPERATING EXPENSES 340,000 310.200 NET SURPLUS/DEFICIT (15,000) 4,800 BALANCE SHEET AS AT JUNE 2015 $ 000's AS AT JUNE 2014 $ 000's ASSETS 258,500 273,500 LIABILITIES 8,000 8,000 NET WORTH 250,500 265.500 STATEMENT OF CASH FLOW 2014/15 TARGET $ 000's 2013/14 FORECAST $ 000's CASH FLOWS FROM OPERATING ACTIVIITES (15,000) (18,100) CASH FLOWS FROM INVESTING ACTIVIITES CASH FLOWS FROM FINANCING ACTIVIITES
Summarised Forecast Financial Statements. A full set of forecast financial statements for Cayman Islands Monetary Authority is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows. Operating Statement 2004/5 $ 2003/4 $ Revenue 11,279,502 10,381,100 Operating Expenses 9,562,062 8,457,944 Net Surplus/Deficit 1,717,440 1,923,156 Balance Sheet As at 30 June 2005 $ As at 30 June 2004 $ Assets 67,975,217 67,583,933 Liabilities 51,390,482 51,431,605 Net Worth 16,584,735 16,152,327 Statement of Cash Flows 2004/5 $ 2003/4 $ Net cash flows from operating activities 1,844,724 2,337,110 Net cash flows from investing activities -1,033,356 -2,404,562 Net cash flows from financing activities -1,068,979 -811,802 6. Other Financial Information Detailed below is information about specific financial transaction required to be included in the Ownership Agreement by the Public Management and Finance Law 2001. Transaction Amount for 2004/5 $ Equity Investments into Cayman Islands Monetary Authority 525,000 Capital Withdrawals from Cayman Islands Monetary Authority. 0 Dividend or Profit Distributions to be made by Cayman Islands Monetary Authority. 1,810,032 Government Loans to be made to Cayman Islands Monetary Authority. 0 Government Guarantees to be issued in relation to Cayman Islands Monetary Authority. 0 Related Party Payments (Non Remuneration) made to Key Management Personnel5 Remuneration6 Payments made to Key Management Personnel 604,111 Remuneration Payments made to Senior Management 755,200 Number for 2004/5 No of Key Management Personnel 11 No of Senior Management 7 5 Key Management Personnel as defined by International Public Accounting Standards No 20, eg Minister, Board Member and Senior Management Team 6 Remuneration as defined by International Public Accounting Standards No 20 Par 34(a)
Summarised Forecast Financial Statements. A full set of forecast financial statements for the Cayman Islands Development Bank is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows. Operating Statement 2005/6 $ 2004/5 $ Revenue 3,355,537 8,033,788 Operating Expenses 3,258,057 7,895,449 Net Surplus/Deficit 97,480 138,339 Balance Sheet As at 30 As at 30 June June 2006 2005 $ $ Assets 21,929,081 19,196,200 Liabilities 15,565,441 12,929,441 Net Worth 6,364,240 6,266,760 Statement of Cash Flows 2005/6 $ 2004/5 $ Net cash flows from operating activities 279,556 349,758 Net cash flows from investing activities (10,472,363) (4,327,664) Net cash flows from financing activities 2,636,000 11,352,590
Summarised Forecast Financial Statements. A full set of forecast financial statements for Cayman Islands Airport Authority is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows. Operating Statement 2006/7 Budget $ 2005/6 Forecast $ Revenue 21,789,328 20,147,663 Operating Expenses 17,439,408 16,224,663 Net Surplus/Deficit 2,309,920 2,449,000 Balance Sheet As at 30 June 2007 $ As at 30 June 2006 $ Assets 96,386,920 96,804,000 Liabilities 54,806,000 57,533,000 Net Worth 41,580,920 39,271,000 Statement of Cash Flows 2006/7 Budget $ 2005/6 Forecast $ Net cash flows from operating activities 1,682,920 3,840,000 Net cash flows from investing activities (4,000,000) (3,768,000) Net cash flows from financing activities 49,253,000 49,253,000
Summarised Forecast Financial Statements. A full set of forecast financial statements for Cayman Islands Airports Authority is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows. Operating Statement 2005/6 $ 2004/5 $ Revenue 20,147,663 14,191,000 Operating Expenses 16,224,663 10,722,000 Net Surplus/Deficit 2,469,000 3,469,000 Balance Sheet As at 30 June 2006 $ As at 30 June 2005 $ Assets 99.324,000 44,583,000 Liabilities 62,125,044 8,225,000 Net Worth 37,198,956 36,358,000 Statement of Cash Flows 2005/6 $ 2004/5 $ Net cash flows from operating activities 3,860,000 7,966,000 Net cash flows from investing activities (3,768,000) (1,306,000) Net cash flows from financing activities 49,253,000 (401,500)
Summarised Forecast Financial Statements. A full set of forecast financial statements for CINICO is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows: Operating Statement 2005/06 $ 2004/05 $ Revenue 22,367,370 16,900,141 Operating Expenses (22,320,450) (21,374,326) Net Surplus/Deficit 46,920 (4,474,185) Balance Sheet As at 30 June As at 30 June 2006 2005 $ $ Assets 9,191,846 7,619,601 Liabilities (6,099,468) (4,574,216) Net Worth 3,092,305 3,045,385 Statement of Cash Flows 2005/06 $ 2004/05 $ Net cash flows from operating activities 676,305 (1,744,785) Net cash flows from investing activities (52,584) (56,380) Net cash flows from financing activities 0 4,455,428
Summarised Forecast Financial Statements. A full set of forecast financial statements for Cayman Airways Limited is provided in the Appendix to this Ownership Agreement. A summary of those forecasts is as follows. Operating Statement 2011/12 Target $ 2010/11 Forecast $ Revenue 63,383,772 61,483,587 Operating Expenses (64,696,863) (63,783,302) Net Surplus/Deficit (1,313,091) (2,299,715) Balance Sheet As at 30 June 2012 $ As at 30 June 2011 $ Assets 40,661,964 35,876,049 Liabilities 86,169,050 85,170,044 Net Worth (45,507,086) (49,293,995) Statement of Cash Flows 2011/12 Target $ 2010/11 Forecast $ Net cash flows from operating activities 1,874,876 (3,671,663) Net cash flows from investing activities (6,426,400) (226,800) Net cash flows from financing activities 1,979,741 2,489,347 11 2011/12 Ownership Agreements
