Annual Report 2006 - FINAL · Retirement Fund Board ANNUAL REPORT 2005/2006 3 FFFFINANCIAL HHHHIGHLIGHTS 2005/20062005/2006 2004/052004/052004/05 2005/06 2005/06 2005/06 $$$$ $ $

ANNUAL REPORT

Fakamatala Fakata’u

2005/2006

Retirement Fund Board ANNUAL REPORT 2005/2006

2

ReferenceReferenceReferenceReference: RFB/A1/428 DateDateDateDate: 06th December 2006.

Honourable Siosiua ‘Utoikamanu, Minister of Finance, Ministry of Finance, NUKU’ALOFA.NUKU’ALOFA.NUKU’ALOFA.NUKU’ALOFA. Honourable Minister, In accordance with Section 10(1) of the Retirement Fund Act 1998, I have the honour to submit to you on behalf of the Board the 7th Annual Report of the Retirement Fund Board together with the Audited Accounts for the Financial Year ended 30th June 2006. Respectfully, Dr. S Leimoni Taufu'i Chief Executive Officer and Secretary to the Board Chief Executive Officer and Secretary to the Board Chief Executive Officer and Secretary to the Board Chief Executive Officer and Secretary to the Board

P.O.Box 96, Nuku’alofa, KINGDOM of TONGA Telephone: (676) 25–433, Facsimile: (676) 25-422, Email: [email protected]


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FFFFINANCIAL INANCIAL INANCIAL INANCIAL HHHHIGHLIGHTS IGHLIGHTS IGHLIGHTS IGHLIGHTS 2005/20062005/20062005/20062005/2006 2004/052004/052004/052004/05 2005/06 2005/06 2005/06 2005/06

$$$$ $ $ $ $

CCCCONTRIBUTIONSONTRIBUTIONSONTRIBUTIONSONTRIBUTIONS

Total Contributions 4,305,999.36 6,453,443.49

Voluntary Contributions 96,703.30 130,994.77

TTTTOTAL OTAL OTAL OTAL IIIINVESTMENT NVESTMENT NVESTMENT NVESTMENT RRRRETURNSETURNSETURNSETURNS

Interest on Investment 3,004,826.69 3,712,857.39

RRRRETIREMENT ETIREMENT ETIREMENT ETIREMENT BBBBENEFIT ENEFIT ENEFIT ENEFIT PPPPAYMENTSAYMENTSAYMENTSAYMENTS

Total Benefit Payments 2,393,955.32 2,719,933.57

Number of Retirees 110 182

CONTENTSCONTENTSCONTENTSCONTENTS

BOARD MEMBERS 4

OGRANISATIONAL STRUCTURE 5

CHIEF EXECUTIVE OFFICER’S STATEMENT 6

OVERVIEW OF OPERATIONS 8

AUDITORS REPORT 10

FINANCIAL POSITION STATEMENT 11

OPERATIONS STATEMENT 12

CASH FLOW STATEMENT 13

MOVEMENTS IN EQUITY STATEMENT 14

ACCOUNTING POLICIES 15

NOTES TO AND FROM PART OF THE FINANCIAL STATEMENT 18


4

BBBBOARD MEMBERSOARD MEMBERSOARD MEMBERSOARD MEMBERS

HONOURABLE DR. FELETI VAKA’UTA SEVELE Chairman Prime Minister

HONOURABLE SIOSIUA ‘UTOIKAMANU Employer Representative Minster of Finance

HONOURABLE ‘ALISI NUMIA TAUMOEPEAU Employer Representative Attorney General and Minister of Justice

MANU ‘AKAU’OLA Members Representative

FOTU FI’ISI’IAHI Members Representative

DR. S. LEIMONI TAUFU’I Secretary to the Board/Chief Executive Officer

VUNA FA’OTUSIA Alternate Member Representative

FOLAU LOKOTUI Alternate Member Representative


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OGRANISATIONAL STRUCTUREOGRANISATIONAL STRUCTUREOGRANISATIONAL STRUCTUREOGRANISATIONAL STRUCTURE

Finance Manager

Operations/Member

Service Manager

(Vacant)

Investment

Manager

(Vacant)

ICT Manager

Deputy CEO

(Vacant)

Principal

Accountant

(Vacant)

Principal

Investment Analyst

Principal Systems

Administrator

(Vacant)

Senior Accountant

(Vacant)

Senior

Superannuation

Officer (Vacant)

Senior Investment

Analyst

(Vacant)

Senior Systems

Administrator

Accountant

(On Scholarship)

Systems

Administrator

(On Scholarship)

Accounting Officer

Grade I

Superannuation

Administrator Grade

III

Superannuation

Administrator Grade

II

Driver/Messenger

Superannuation

Administrator Grade

III

Superannuation

Officer Grade I

(Vacant)

Superannuation

Administrator Grade

II

Public Relations

Officer

Systems

Administrator Grade

I (Vacant)

Superannuation

Administrator Grade

II

Investment Analyst

(Vacant)

Investment Officer

Grade I

Investment Officer

Grade II

(Vacant)

CEO


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CHIEF EXECUTICHIEF EXECUTICHIEF EXECUTICHIEF EXECUTIVE OFFICER’S STATEMENTVE OFFICER’S STATEMENTVE OFFICER’S STATEMENTVE OFFICER’S STATEMENT

GGGGENERALENERALENERALENERAL

The 2005/2006 has been a year of considerable operational disruptions in the Fund operations, reflecting both opportunity and challenges. The slow economic growth with severe liquidity demands in the domestic market had given the opportunity to the Fund to take a leading role in driving the interest rates to its highest level of 10.95 percent (%). The Civil Servants strike at the beginning of the financial year had been very challenging in the operational centre. The significant adjustments and reconciliations of Members’ contribution accounts during the strike and the increase in the salaries by 60%, 70% and 80% back-dated to the 1st July 2005 had imposed tremendous level of adjustments to the Fund operation system. The voluntary redundancy package offered by the Government was accepted by 818 Members. The retirement benefit entitlements of $13.2 millions were processed on 30th June 2006 for audit and payments. IIIINVESTMENTNVESTMENTNVESTMENTNVESTMENT

The total interest received on investment have increased to $3,712,857.39, an increase of 24 percent (%) and the Board declared a crediting rate of 6.5 percent (%) to be credited to the Members’ Accounts. CCCCONTRIBUTIONONTRIBUTIONONTRIBUTIONONTRIBUTION

The increases in salaries of the civil servant with effect on 1st July 2005 have proportionally increased the level of contribution revenue by 50%. The total Members’ accrued benefits have increased to $56,543,837.47 an increase of 16 percent (%). The total contribution revenue has increased to $6,453,443.49, an increase of 50 percent (%). The voluntary contributions have increased by 35 percent (%) as compared to 24 percent (%) last year.

AAAADMINISTRATION DMINISTRATION DMINISTRATION DMINISTRATION CCCCOSTSOSTSOSTSOSTS

We achieved a management expenses ratio (MER) of 0.87 percent (%) as compared to 0.93 percent (%) last year. Compared to similar Funds in the region, this is a commendable achievement given the development stage of the Fund. With the lower economic growth, the Fund continues to reduce cost and focus on building a more technologically oriented approach for the Fund operations. IIIINFORMATION NFORMATION NFORMATION NFORMATION CCCCOMMUNICATION OMMUNICATION OMMUNICATION OMMUNICATION TTTTECHNOLOGYECHNOLOGYECHNOLOGYECHNOLOGY

With the increase in the number transactions to be posted averaging at 20,000 per month, the Fund Administration System (FAS) was upgraded from MS Access to MS SQL Server. The Data Torque e-Business Solutions of Wellington won the tender for the design and implementation. The new system significantly improves FAS’s capacity, security and reconciliation system. MMMMEMBER EMBER EMBER EMBER SSSSERVICESERVICESERVICESERVICES

Member services remain the focus of our attention. The acquisition of new photo membership card and online access to Member’s Account are all part of our strategy to improve services to the Members. The electronic transfer of funds for withdrawals had reduced the workload in our operation division, allowing more time for processing, hence improving productivity around the centres. TTTTRAINING AND RAINING AND RAINING AND RAINING AND DDDDEVELOPMENTEVELOPMENTEVELOPMENTEVELOPMENT

Staff training continues its role in improving the knowledge and skills of staff at all levels. The annual training/attachment plan is used as the basis for staff training with the Singapore Central Provident Fund and Fiji National Provident Fund. The Fund Board received two (2) fully funded scholarship awards for postgraduate studies. Mrs. Melesia ‘Aho Palu has


7

commenced her 2 years scholarship for a Master of Professional Business Studies at the Auckland University of Technology. Miss Lesieli Mafi has commenced her 1½ years postgraduate studies for a Master in Professional Business (Professional Accounting) at the Victoria University in Australia. Executive and management staff have also attended programs not available locally to gain knowledge and skills in new areas, such as, medisav, fund review, life insurance, fund administration and performance management in Fiji, Singapore and the United Kingdom. The Fund Board requested training for directors and administrators of superannuation funds in Tonga and was conducted by consultants from the Association of Superannuation Funds of Australia (ASFA) in Tonga on 21st – 24th November 2005. The training was funded by the Australian Government. IIIINTERNATIONAL NTERNATIONAL NTERNATIONAL NTERNATIONAL CCCCONFERENCEONFERENCEONFERENCEONFERENCE

We continue to expose Board Members and staff to current trends and practices in the superannuation industries by attendance at conferences and workshop organized by Singapore Central Provident Fund, Association of Superannuation Funds of Australia (ASFA), CPA Australia and Commonwealth Secretariat. EEEEARLYARLYARLYARLY RRRRELEASE ELEASE ELEASE ELEASE UUUUNDER NDER NDER NDER MMMMIGRATIONIGRATIONIGRATIONIGRATION

The Board approved the procedure under section 5(7)(c) of the Retirement Fund (Administration) Regulations 1999 with migration as the first criteria to come under the early release of retirement benefits. This procedure was effective on the 1st April 2006 and the Board will continue to review this Procedure from time to time.

LLLLIFE IFE IFE IFE IIIINSURANCE NSURANCE NSURANCE NSURANCE SSSSCHEMECHEMECHEMECHEME

The Fund Board introduced the self-managed life insurance scheme on 1st July 2005. The scheme allows the Fund to manage the life insurance policy in-house ceasing the services and payments of monthly premium to the Colonial Fiji (Life) Insurance Limited. TTTTHE HE HE HE BBBBOARDOARDOARDOARD

During the year, we bid farewell to HRH Prince ‘Ulukalala-Lavaka-Ata who resigned from the office and welcomed the new Chairman of the Board, Honourable Dr. Feleti Vaka’uta Sevele. With the appointment of Honourable Siaosi Taimani ‘Aho as the Minister of Police, the Board welcomed the new Attorney General & Minister of Justice, Honourable ‘Alisi Numia Taumoepeau. With the election of the Member Representatives for the 2005/2008 term of office, the Members are Mr. Fotu Fisi’iahi and Manu ‘Akau’ola with Mr. Vuna Fa’otusia and Mr. Folau Lokotui as Alternate Members. This year had certainly been full of events for the Fund and we expect more initiatives in the Investment and Administration of the Fund in the next three years. In closing, I wish to thank all the Members of the Fund and the Government for putting your trust in the Board and management to be the custodian and to administer your retirement savings. I also sincerely thank the Chairman and the Board for their support and guidance during the year and the Staff and Executives for their cooperation and willingness to work as a team.


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Total Benefit Payments

Ground Amount

Normal 858,538.75

Death 318,147.41

- Insurance Benefit -

Disablement 270,750.03

Early Release 1,211,350.96

Resignation/Dism issal 18,994.24

Old Scheme 42,152.18

Grand Total 2,719,933.57$

OVERVIEW OF OPERATIONSOVERVIEW OF OPERATIONSOVERVIEW OF OPERATIONSOVERVIEW OF OPERATIONS

The Fund is an Accumulation Contribution Fund and the operation of the Fund has been carried out in accordance with the provisions of the Retirement Fund Act 1998; Retirement Fund Board Act 1998; and the Retirement Fund (Administration) Regulations 1999. MMMMEMBERSHIPEMBERSHIPEMBERSHIPEMBERSHIP

The total number of members that contributed to the Fund as at 30th June 2006 stood at 4,946. This figure includes members on special leave and study leave without pay.

Total Members as at 30th June

3800

4000

4200

4400

4600

4800

5000

2002 2003 2004 2005 2006

Years

Members

CCCCONTONTONTONTRIBUTIONSRIBUTIONSRIBUTIONSRIBUTIONS

The total contributions collected during the financial year were $6,453,443.49. In comparison to last year, contributions have increased by $2,147,444.13 or 50 percent (%). The voluntary contribution amounted to $130,994.77 an increase of 35 percent (%).

Total Contributions Revenue as at 30th June

-

1,000,000.00

2,000,000.00

3,000,000.00

4,000,000.00

5,000,000.00

6,000,000.00

7,000,000.00

2002 2003 2004 2005 2006

Years

Amount

MMMMEMBERS EMBERS EMBERS EMBERS AAAACCRUED CCRUED CCRUED CCRUED BBBBENEFITENEFITENEFITENEFIT

While the payments of the Transfer Preserved Accounts to the Fund are yet to be completed, the benefits accrued to Members for the year ended 30th June 2006 amounted to $56,543,837.47. FFFFUND UND UND UND EEEEARNING ARNING ARNING ARNING RRRRATEATEATEATE

The Board declared a crediting rate of 6.5 percent (%) to be credited to Members’ Accounts as at review date. RRRRETIREMENT ETIREMENT ETIREMENT ETIREMENT BBBBENEFIT ENEFIT ENEFIT ENEFIT PPPPAYMENTSAYMENTSAYMENTSAYMENTS

The total payments to retired members under various grounds during the year amounted to $2,719,933.57, an increase of $325,978.25 or 13 percent (%). DDDDEATH EATH EATH EATH BBBBENEFITS ENEFITS ENEFITS ENEFITS

The total death claims from the Self-managed Insurance Scheme was recorded at $318,147.41.


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Number of Members retired as at 30th June

Ground Jun-02 Jun-03 Jun-04 Jun-05 Jun-06 Total

Normal 58 59 67 58 35 322

Death 9 18 16 9 16 78

Disablement 7 23 40 29 26 140

Early Release 0 0 0 9 91 101

Resignation/Dismissal 6 3 5 14 6 43

Civil Pension Scheme 42 26 17 18 8 183

Total 122 129 145 137 182 685

The significant increase in the total amount of claims was the result of the increase in salaries during the year.

IIIINVENVENVENVESTMENTSTMENTSTMENTSTMENT

In accordance with Section 7(1) and 8(1) of the Retirement Fund Act 1998, the fund is to maintain Account with the National Reserve Bank of Tonga or other banks approved by the National Reserve Bank of Tonga. The funds are invested at the domestic market and recorded total term investment of $26,869,230.36 as at 30th June 2006.

The Transfer Preserved Account was recorded at $14,414,266.54. IIIINFORMATION NFORMATION NFORMATION NFORMATION CCCCOMMUNICATIONOMMUNICATIONOMMUNICATIONOMMUNICATION TTTTECHNOLOGYECHNOLOGYECHNOLOGYECHNOLOGY

Information technology remains an essential tool for the implementation of the Fund’s operation. The Management Information System has designed strategic objectives in IT to improve the Fund’s operations.

NNNNONONONON————MMMMEMBER EMBER EMBER EMBER CCCCONTRIBUTIONSONTRIBUTIONSONTRIBUTIONSONTRIBUTIONS

The Ministry of Finance has formalized the arrangement for the management of the Non-Members contributions with the Fund Board.


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AUDITORS REPORTAUDITORS REPORTAUDITORS REPORTAUDITORS REPORT


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STATEMENT STATEMENT STATEMENT STATEMENT OF OF OF OF FINANCIAL POSITIONFINANCIAL POSITIONFINANCIAL POSITIONFINANCIAL POSITION

AS AT 30th JUNE 2006

The financial statements should be read in conjunction with the accounting policies and notes to

and forming part of the financial statements set out in pages 15 to 27

June 2006 June 2005

Notes $ $

Assets

Investments

Term Deposits 2 26,869,230.35 20,150,041.25

Transfer Preserved Accounts 3 14,414,266.54 20,456,117.02

41,283,496.89 40,606,158.27

Other Assets

Cash at Bank 8,544,792.65 45,936.02

Contribution Receivable 4 0.00 0.00

Interest Receivable 5 7,510,288.62 8,727,674.52

Other Receivable 6 1,397.73 5,121.33

Fixed Assets 7 160,277.70 76,442.07

16,216,756.70 8,855,173.94

Net Assets of Insurance Fund 8 9,719.23 0.00

Total Assets 57,509,972.82 49,461,332.21

Less: Liabilities 9 (37,571.77) (21,873.20) Deferred Income 10 (92,308.32) (12,134.28)

(129,880.09) (34,007.48)

Net Assets $57,380,092.73 $49,427,324.73

Represented by:

Members Accrued Benefits 11 56,543,837.47 48,594,708.51

Insurance Fund 8 9,719.23 0.00

Non-Members Accumulated Fund 12 357,355.06 305,897.64

Reserves 13b 469,180.97 526,718.58

Total Members Fund $57,380,092.73 $ 49,427,324.73

Signed in accordance with a resolution of the Board.

Honourable Dr. Feleti Sevele

Chairman Dr. S Leimoni Taufu'i FCPA

Chief Executive Officer


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STATEMENT STATEMENT STATEMENT STATEMENT OFOFOFOF OPERATIONSOPERATIONSOPERATIONSOPERATIONS

FOR THE YEAR ENDED 30th JUNE 2006

June 2006 June 2005

Notes $ $

Contributions Revenue

Member Basic Account 2,528,897.49 1,684,795.75

Member Voluntary Account 130,994.77 96,703.30

Employer Account 3,793,551.23 2,524,500.31

6,453,443.49 4,305,999.36

Net Investment Revenue 14

3,712,857.39

3,004,826.69

Other Revenue

Transfer Preserved Revenue Account 1,329,294.38 1,149,610.99

Non-Member Revenue Account 72,905.46 62,527.65

Members Insurance Claims 246,903.60 102,982.45

Board Appropriation Revenue 15 192,500.00 171,777.74

Other Income 16 132,140.04 10,298.34

Sundries 0.00 88.45

1,973,743.48 1,497,285.62

Total Revenue $12,140,044.36 $ 8,808,111.67

Less Operational Expenses

Members Insurance Premium (243,563.87) (122,196.25)

Management & Administration Expenses 17 (465,942.23) (445,746.44)

Retirement Benefits Payment 18 (1,545,118.44) (1,481,431.84)

Member Insurance Payment (246,903.60) (0.00)

Non-Member Benefit Payment (5,658.05) (0.00)

Board Appropriation Expenses 15 (130,385.17) (171,777.74)

Other Expenses 16 (132,140.00) (10,298.34)

Total Operational Expenses (2,769,711.36) (2,231,450.61)

Operating result 9,370,333.00 $ 6,576,661.06

Less Transfer to Reserves 13a (227,650.03) (150,168.74)

Benefits accrued as a result of Operations $9,142,682.97 $ 6,426,492.32




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STATEMENT STATEMENT STATEMENT STATEMENT OFOFOFOF CCCCASH FLOWASH FLOWASH FLOWASH FLOW


June 2006 June 2005

Note $ $

Cash flows from Operating activities:

Cash was received from: Member Basic Account 2,513,531.64 1,675,923.17

Member Voluntary Account 119,704.50 90,534.54

Employer Account 3,769,811.48 2,511,964.93

Total Contribution Received 6,403,047.62 4,278,422.64

Transfer Preserved Account 7,028,664.43 1,444,933.28

Non-Member Revenue Account 72,905.46 62,527.65 Board Appropriation 192,500.00 105,000.54

Sundries 19,147.80 88.45

Member Insurance Claims 2,713.20 102,982.45

13,718,978.51 5,993,955.01

Cash was disbursed to:

Payment to Board Member (62,110.86) (89,266.40)

Payment to Employee (386,897.36) (268,647.01)

Members Insurance Premium (220,225.72) (114,523.54)

General Expenses (404,689.74) (207,365.66)

Payment to Non-Member (42,152.18) 0.00

Retirement Benefits Payment (2,677,781.38) (2,393,955.32)

3,793,857.24 (3,073,757.93)

Net cash provided by operating activities 9,925,121.27 2,920,197.08

Cash flows from Investing activities:

Cash was provided from:

Matured/Roll-over Investment 22,826,230.37 5,327,974.87

Interest on Cheque Account 1,576.94 744.97

Interest on Transfer Preserved Account 3,459,312.06 544,273.91

Interest on Investment 1,937,766.01 1,257,338.56

28,224,885.38 7,130,332.31

Cash was disbursed to:

Purchase of Fixed Asset (99,531.52) (31,736.00)

Investment (29,551,618.46) (9,975,701.06)

29,651,149.98 (10,007,437.06)

Net Cash Used in Investing activities (1,426,264.60) (2,877,104.75)

Net Increase/(Decrease) in cash held 8,498,856.67 43,092.33

Cash at the beginning of financial year, 1st July 2005 45,936.02 2,843.69

Cash on hand, 30th June 2006 0.00 0.00

Cash Balance as at 30th June 2006 19a $8,544,792.69 $ 45,936.02




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STATEMENT STATEMENT STATEMENT STATEMENT OFOFOFOF MMMMOVEMENTS IN OVEMENTS IN OVEMENTS IN OVEMENTS IN MEMBERS FUNDMEMBERS FUNDMEMBERS FUNDMEMBERS FUND


Notes June 2006 June 2005

$ $

Net Surplus/(Deficit) for the year 9,142,682.97 6,426,492.32

Net transfer from Reserve (3,639.04) 106,871.17

Total Recognized Revenues & Expenses 9,146,322.01 6,533,363.49

Member Accrued Benefit paid during the year (2,428,918.60) (1,892,071.71)

Movement in Members Fund for the year 6,717,403.41 4,641,291.78

Adjustment to the opening balance 1,235,364.59 (1,694,689.07)

Members Fund at the Beginning of the Year 49,427,324.73

46,480,722.02

MEMBERS FUND AT THE END OF THE

YEAR

$57,380,092.73 $49,427,324.73

COMPRISING: 20

Members Accrued Benefit 56,543,837.47 48,580,265.54

Allocated Pension Accrued Benefit 0.00 14,442.97

Insurance Fund 9,719.23 3,508.12

Non-Members Accumulated Fund 357,355.06

305,897.64

General Reserve 190,412.31 196,848.88

Investment Fluctuation Reserve 156,060.23 116,791.18

Board Appropriation Reserve 122,708.43 209,570.40

MEMBERS FUND AT THE END OF YEAR

$57,380,092.73

$49,427,324.73




15

AAAACCOUNTING POLICIESCCOUNTING POLICIESCCOUNTING POLICIESCCOUNTING POLICIES

1. Statement of Significant Accounting Policies

REPORTING ENTITYREPORTING ENTITYREPORTING ENTITYREPORTING ENTITY The financial Statements are for the Retirement Fund Board, which was established under Section 3 of Retirement Fund Board Act 1998. The Retirement Fund Board administers the Retirement Fund in accordance with the provision of Retirement Fund Act 1998 and Retirement Fund Board Act 1998 and responsible for the management and investment of the fund. ACCOUNTING POLICIESACCOUNTING POLICIESACCOUNTING POLICIESACCOUNTING POLICIES The financial statements have been prepared in accordance with the provisions of the Retirement Fund Act 1998, Retirement Fund Board Act 1998 and the accounting standards and disclosure requirements of the International Financial Reporting Standard (IFRS). The accounting policies that materially affect the measurement of the Operation Statement, Financial Position, Movement in Equity and Cash Flows are set out below.

a)a)a)a) MeasurementMeasurementMeasurementMeasurement The financial statements have been prepared on historical cost basis and do not take into account the changes in money values. All amounts are reported in Tongan Pa’anga.

b)b)b)b) InvestmentInvestmentInvestmentInvestment Investment representing the Transfer Preserved Accounts that still with Treasury are stated at cost and do not reflect the fair market value of the portfolio. Term deposits are brought to account on cost basis.

c)c)c)c) Fixed Assets and DepreciationFixed Assets and DepreciationFixed Assets and DepreciationFixed Assets and Depreciation All fixed assets are recorded at cost less accumulated depreciation. Depreciation PolicyDepreciation PolicyDepreciation PolicyDepreciation Policy

Depreciation is base on straight-line method. All assets are depreciated to a nil residual value. While this is a departure from IFRS, the fixed assets are reviewed to establish whether written down values exceed estimated recoverable amount. Office:Office:Office:Office: Office Furniture - Five (5) years Office Equipment - Ten (10) years Motor Vehicles:Motor Vehicles:Motor Vehicles:Motor Vehicles: Brand New - Ten (10) years Used Vehicles - Five (5) years ComputerComputerComputerComputers:s:s:s: Server - Five (5) years PC & Others - Three (3) years

The cost of assets below $500.00 is charge to the Statement of Operation.


16

d)d)d)d) Revenue RecognitionRevenue RecognitionRevenue RecognitionRevenue Recognition Contributions Revenue from Members, Employer and Non-Members are recognized when received. The Fund Board contribution period is 1 July to 30 June. Other revenue is recognized when it received. Investment Revenue is brought into account on a accrual basis.

e)e)e)e) Contribution Account and RateContribution Account and RateContribution Account and RateContribution Account and Rate

A Member must contribute to his Account five (5) per cent (%) of his annual salary applicable at the July Review Date. This is stated in the financial statement as Member Basic Account. The Employer must contribute to the Members Account seven and a half (7.5) percent (%) of the Member’s annual salary, applicable at the July Review Date. This is stated in the financial statement as Employer Account. A Member may contribute additional amounts at such rate and amount as the Member determines. This is stated in the financial statements as Members Voluntary Account. Non-Members Revenue Account represents the five (5) percent (%) employee contributions for those public servants who remain with the Civil Service Pension Scheme.

f)f)f)f) ReceivableReceivableReceivableReceivable

Receivables are stated at their estimated realizable value.

g)g)g)g) Grants and AppropriationGrants and AppropriationGrants and AppropriationGrants and Appropriation

The Board received funding for the implementation of the Project (Retirement Fund Board) and other projects from: Government of Australia through AusAID Technical Assistance Board Appropriation (Section 7(3) Retirement Fund Act 1998) The Grants and Appropriation have been recognized and accounted for under the Income Approach.

h)h)h)h) TaxationTaxationTaxationTaxation

The Fund monies, including investment earning, is exempted from income tax and any other government impost under Section 9(1) of the Retirement Fund Act 1998.

i)i)i)i) Retirement Benefit and NonRetirement Benefit and NonRetirement Benefit and NonRetirement Benefit and Non----Member Payment RecognitionMember Payment RecognitionMember Payment RecognitionMember Payment Recognition

Retirement Benefit Payments to Members and Non-Members are recognized at the time of payment.

j)j)j)j) Members Insurance PremiumMembers Insurance PremiumMembers Insurance PremiumMembers Insurance Premium

All Members are insured on a Member Group Life Insurance Scheme which is Self-Managed by the Board with effect on 1st July 2005. The insured amounts are equal to the Member’s Salary as at July Review Date (Section 6(3) of Retirement Fund (Administration) Regulation 1999).


17

k)k)k)k) Foreign Foreign Foreign Foreign CurrenciesCurrenciesCurrenciesCurrencies

Transactions in foreign currencies are converted to Tongan Pa’anga at the exchange rate on the date of transaction.

l)l)l)l) Insurance FundInsurance FundInsurance FundInsurance Fund

The Insurance policy for self-managing the group life Insurance Scheme had been approved and continues to be reviewed every year. Receipts and payments are processed directly from the fund, and any excess of fund assets over the liabilities are reported separately in the Statement of Financial Position. Each transaction is recognized at the time of payment.

m)m)m)m) NonNonNonNon----Member Accumulated FundMember Accumulated FundMember Accumulated FundMember Accumulated Fund

Non-Member Accumulated Fund was established to cater for the five percent (5%) contribution for those civil servants who remain with the Civil Service Pension Scheme. The Board had been authorized to manage the operation of the Non-Member Accumulated Fund. The contribution revenue and payments are accounted for in the Statement of Operation as Non-Member Revenue Account and Non-Member Benefit Payments respectively. The balances are transferred to the Non-Member Accumulated Fund Account at the end of the financial year.

CHANGE IN ACCOUNTING POLICIESCHANGE IN ACCOUNTING POLICIESCHANGE IN ACCOUNTING POLICIESCHANGE IN ACCOUNTING POLICIES There have been two changes in the accounting policies with regard to Insurance Funds and Non-Member Accumulated Funds. The Fund Board had approved that the Members Life Insurance Scheme be self-managed by the Board with effect on 1st July 2005. Further, the Board also approved the request by Ministry of Finance to transfer the management of the Non-Member Fund to the Fund Board. These changes do not materially affect the Fund financial statements as at 30th June 2006. All other policies have been applied on a basis consistent with those used in the previous year.


18

NOTES TO AND FROM PART OF THE FINANCIAL STATEMENTNOTES TO AND FROM PART OF THE FINANCIAL STATEMENTNOTES TO AND FROM PART OF THE FINANCIAL STATEMENTNOTES TO AND FROM PART OF THE FINANCIAL STATEMENT


1. Term Deposi1. Term Deposi1. Term Deposi1. Term Depositstststs

� 2006200620062006 Financial Year Financial Year Financial Year Financial Year

BANK CERTIFICATE PRINCIPAL INTEREST DEPOSIT PERIODS MATURITY

NUMBER RATE DATE (MONTHS) DATE

151343-3 $3,000,000.00 9.60% 07.12.2005 36 MONTHS 07.12.2008

151508-8 $1,121,291.23 9.65% 20.12.2005 36 MONTHS 20.12.2008

151866-8 $220,000.00 10.20% 20.01.2006 12 MONTHS 20.01.2007

152493-3 $1,100,000.00 10.25% 13.03.2006 12 MONTHS 13.03.2007

152578-8 $400,000.00 10.50%% 22.03.2006 12 MONTHS 22.03.2006

152790-1 $574,038.01 10.95% 18.04.2006 12 MONTHS 18.04.2007

152861-0 $200,000.00 10.95% 27.04.2006 12 MONTHS .27.04.2007

152949-8 $250,000.00 10.95% 08.05.2006 12 MONTHS 08.05.2007

1533528 $400,000.00 10.95% 21.06.2006 30 DAYS 21.07.2006

ANZANZANZANZ

153130-5 $500,000.00 10.95% 26.06.2006 30 DAYS 26.07.2007

$7,765,329.24$7,765,329.24$7,765,329.24$7,765,329.24

2000446720 $1,380,000.00 9.50% 07.11.2005 36 MONTHS 07.11.2008

2000448825 $2,700,000.00 9.60% 16.11.2005 36 MONTHS 16.11.2008

2000456810 $2,503,476.86 9.65% 16.12.2005 36 MONTHS 16.12.2008

2000457719 $2,840,460.02 9.65% 16.12.2005 36 MONTHS 16.12.2008

2000457727 $2,118,000.00 9.65% 16.12.2005 36 MONTHS 16.12.2008

2000455846 $500,000.00 9.65% 21.12.2005 36 MONTHS 21.12.2008

2000459897 $300,000.00 9.75% 13.01.2006 12 MONTHS 13.01.2007

2000478095 $250,000.00 10.55% 05.04.2006 12MONTHS 05.04.2007

2000494597 $825,000.00 10.95% 30.06.2006 7 DAYS 07.07.2006

WestpacWestpacWestpacWestpac Bank ofBank ofBank ofBank of TongaTongaTongaTonga

2000490605 $825,000.00 10.95% 30.06.2006 14 DAYS 14.07.2006

$14,241,936.88$14,241,936.88$14,241,936.88$14,241,936.88

1229 $150,000.00 9.65% 23.01.2006 235 DAYS 14.09.2006

1261 $810,000.00 9.65% 23.01.2006 612 DAYS 26.09.2007

1319 $926,454.65 9.65% 23.01.2006 640 DAYS 24.10.2007

1331 $415,509.59 9.65% 23.01.2006 647 DAYS 31.10.2007

1341 $560,000.00 9.65% 23.01.2006 657 DAYS 10.11.2007

TongaTongaTongaTonga DevelopmentDevelopmentDevelopmentDevelopment

BankBankBankBank

2171 $2,000,000.00 9.65% 23.01.2006 3 YEARS 22.01.2009

$4,861,$4,861,$4,861,$4,861,964.24964.24964.24964.24

YEAR TOTALYEAR TOTALYEAR TOTALYEAR TOTAL $26,869,230.36 $26,869,230.36 $26,869,230.36 $26,869,230.36


19

� 2005200520052005 Financial Year Financial Year Financial Year Financial Year

Bank Certificate Principal Interest Deposit Periods Maturity

Number Rate Date (Months) Date 135507-7 $ 300,000.00 7.00% 01.04.2003 36 MONTHS 01.04.2006

138732-7 $ 200,000.00 7.50% 03.10.2003 24 MONTHS 03.10.2005

138955-1 $ 250,000.00 7.60% 17.10.2003 24 MONTHS 17.10.2005

139514-5 $ 300,000.00 7.90% 17.11.2003 36 MONTHS 17.11.2006

M20032000356 $ 400,000.00 7.90% 19.12.2003 3 YEARS 19.12.2006

20042000075 $ 200,000.00 7.95% 07.05.2004 2 YEARS 07.05.2006

20042000085 $ 200,000.00 7.95% 19.05.2004 2 YEARS 19.05.2006

MM20042000115 $ 633,230.08 7.95% 08.06.2004 24 MONTHS 08.06.2006

ANZANZANZANZ 1470656 $ 350,000.00 6.00% 24.02.2005 1 YEAR 24.02.2006

147141-3 $ 100,000.00 6.00% 03.03.2005 12 MONTHS 03.03.2006

147317-0 $ 100,000.00 6.00% 14.03.2005 12 MONTHS 14.03.2006

147561-1 $ 150,000.00 6.25% 01.04.2005 12 MONTHS 01.04.2006

147760-7 $ 150,000.00 6.25% 14.04.2005 12 MONTHS 14.04.2006

147997-7 $ 150,000.00 6.25% 22.04.2005 12 MONTHS 22.04.2006

148206-2 $ 100,000.00 7.00% 06.05.2005 12 MONTHS 06.05.2006

148434-3 $ 200,000.00 7.50% 20.05.2005 12 MONTHS 20.05.2006

148702-6 $ 200,000.00 7.55% 03.06.2005 24 MONTHS 03.06.2007

148905-6 $ 200,000.00 7.75% 17.06.2005 24 MONTHS 17.06.2007

149112-3 $ 600,000.00 8.00% 30.06.2005 24 MONTHS 30.06.2007

$ 4,783,230.08 $ 4,783,230.08 $ 4,783,230.08 $ 4,783,230.08

2000148375 $ 572,629.00 7.75% 07.05.2003 36 MONTHS 07.05.2006

2000164687 $ 350,000.00 7.85% 20.06.2003 36 MONTHS 20.06.2006

2000168209 $ 550,000.00 7.85% 30.06.2003 36 MONTHS 30.06.2006

2000213633 $ 200,000.00 7.85% 01.08.2003 36 MONTHS 01.08.2006

2000232278 $ 200,000.00 7.50% 29.08.2003 24 MONTHS 29.08.2005

2000278875 $ 100,000.00 7.95% 30.12.2003 36 MONTHS 30.12.2006

2000291779 $ 250,000.00 8.00% 30.01.2004 36 MONTHS 30.01.2007

2000306080 $ 200,000.00 8.00% 05.03.2004 36 MONTHS 05.03.2007

Westpac Westpac Westpac Westpac 2000313680 $ 300,000.00 8.00% 02.04.2004 36 MONTHS 02.04.2007

BaBaBaBank of Tongank of Tongank of Tongank of Tonga 2000327821 $ 600,000.00 8.00% 21.06.2004 36 MONTHS 21.06.2007

2000329652 $ 950,000.00 8.00% 30.06.2004 36 MONTHS 30.06.2007

2000331658 $ 380,000.00 8.00% 12.07.2004 36 MONTHS 12.07.2007

2000332870 $ 110,000.00 8.00% 19.07.2004 36 MONTHS 19.07.2007

2000335865 $ 200,000.00 8.00% 04.08.2004 36 MONTHS 04.08.2007

2000336913 $ 300,000.00 8.00% 09.08.2004 36 MONTHS 09.08.2007

2000337457 $ 350,000.00 8.00% 11.08.2004 36 MONTHS 11.08.2007

2000343125 $ 400,000.00 8.00% 01.09.2004 36 MONTHS 01.09.2007

2000351458 $ 100,000.00 7.00% 07.10.2004 24 MONTHS 07.10.2006

2000362992 $ 200,000.00 7.00% 18.11.2004 36 MONTHS 18.11.2007

2000379632 $ 200,000.00 6.00% 28.01.2005 24 MONTHS 28.01.2007

2000383568 $ 150,000.00 6.00% 15.02.2005 24 MONTHS 15.02.2007

$ 6,662,629.00 $ 6,662,629.00 $ 6,662,629.00 $ 6,662,629.00

469 $ 1,150,000.00 7.50% 03.02.2003 3 YEARS 02.02.2006

509 $ 900,000.00 7.70% 11.03.2003 3 YEARS 10.03.2006

547 $ 550,000.00 7.75% 15.04.2003 3 YEARS 14.04.2006

Tonga Tonga Tonga Tonga 593 $ 450,000.00 7.80% 16.05.2003 3 YEARS 15.05.2006

Development BankDevelopment BankDevelopment BankDevelopment Bank 602 $ 368,481.12 7.80% 26.05.2003 3 YEARS 25.05.2006

1229 $ 150,000.00 7.25% 15.09.2004 2 YEARS 14.09.2006

1261 $ 810,000.00 7.50% 27.09.2004 3 YEARS 26.09.2007

1319 $ 926,454.65 7.25% 25.10.2004 3 YEARS 24.10.2007

1331 $ 415,509.59 7.25% 01.11.2004 3 YEARS 31.10.2007

1341 $ 560,000.00 7.25% 11.11.2004 3 YEARS 10.11.2007

1381 $ 1,150,000.00 6.00% 02.12.2004 12 MONTHS 01.12.2005

1424 $ 1,273,736.82 6.00% 23.12.2004 1 YEAR 22.12.2005

$ 8,704,182.18 $ 8,704,182.18 $ 8,704,182.18 $ 8,704,182.18

YYYYEAR TOTALEAR TOTALEAR TOTALEAR TOTAL $ 20,150,041.26 $ 20,150,041.26 $ 20,150,041.26 $ 20,150,041.26


20

3. Transfer Preserved Accounts (Government of Tonga)3. Transfer Preserved Accounts (Government of Tonga)3. Transfer Preserved Accounts (Government of Tonga)3. Transfer Preserved Accounts (Government of Tonga)

This represents the audited Members’ benefit entitlements transferred from the Civil Service Pension Scheme as at 30th June 1999. These Accounts are still to be funded by the Government and, therefore, accumulated with interest of 6 percent (%) per annum (Section 2 of the Retirement Fund (Administration) Regulations 1999)

We have received one hundred and five (105) members’ transfer preserved accounts computation from Treasury, since 30th June 2005. There are some members preserved accounts computations still to be finalized by the Ministry of Finance and Public Service Commission.

Code Ministry Transfer Preserved

Total Interest

01 Palace Office Nil Nil

03 Prime Minister’s Office 697,949.21 41,876.95

04 Ministry of Foreign Affairs Nil Nil

05 Governor Office, Ha'apai Nil Nil

06 Governor Office, Vava'u Nil Nil

07 Ministry of Land, Survey and Natural Resources 688,195.44 41,291.73

09 Printing Department 165,046.51 9,902.79

10 Ministry of Justice 409,485.77 24,569.15

11 Ministry of Police 1,918,275.06 115,096.50

12 Crown Law Nil Nil

14 Ministry of Finance 1,435,769.92 86,146.20

18 Audit Department Nil Nil

19 Ministry of Education 6,550,392.96 393,023.58

20 Ministry of Health 4,617,129.80 277,027.79

22 Ministry of Prisons 377,163.65 22,629.82

23 Ministry of Agriculture & Forestry 1,104,413.09 66,264.79

24 Ministry of Fisheries 323,610.65 19,416.64

25 Central Planning Department Nil Nil

26 Ministry of Labour, Commerce & Industries 565,987 33,959.22

27 Tonga Visitors Bureau 177,621.69 10,657.30

28 Ministry of Works 840,531.58 50,431.90

29 Ministry of Civil Aviation 544,999.70 32,699.98

30 Ministry of Marine & Ports 30,340.55 1,820.43

TOTALTOTALTOTALTOTAL 20,446,912.5820,446,912.5820,446,912.5820,446,912.58 1,1,1,1,226,814.77226,814.77226,814.77226,814.77

Transfer Preserved as at 1st July 2005 20,456,117.02 1,701,170.77

(Less) Adjustment to Opening Balance 954,524.31

(Less)/Plus Transfer Preserved Received and Paid 1,325,018.96 47,186.86

(Less) Transfer Preserved Received but not yet paid

5,671,355.83

Transfer Preserved Account Balance as at 30Transfer Preserved Account Balance as at 30Transfer Preserved Account Balance as at 30Transfer Preserved Account Balance as at 30thththth June June June June 2006200620062006

$14,414,266.54$14,414,266.54$14,414,266.54$14,414,266.54 $1,748,357.63$1,748,357.63$1,748,357.63$1,748,357.63


21

4. Contribution Receivables4. Contribution Receivables4. Contribution Receivables4. Contribution Receivables This represents the outstanding Members’ basic, voluntary and employer contributions as at 30th June 2006.

5. Interest Receivables5. Interest Receivables5. Interest Receivables5. Interest Receivables

2006200620062006

Interest on Term Deposit Receivable 351,229.46

Interest on Transfer Preserved Account Receivable 7,159,059.16

Balance as at 30Balance as at 30Balance as at 30Balance as at 30thththth June 2006 June 2006 June 2006 June 2006 $7,510,288.62$7,510,288.62$7,510,288.62$7,510,288.62

6. Other Receivables6. Other Receivables6. Other Receivables6. Other Receivables

2006200620062006

Prepayment 1,397.73

Balance as at 30Balance as at 30Balance as at 30Balance as at 30thththth June 2006 June 2006 June 2006 June 2006 $1,397.73$1,397.73$1,397.73$1,397.73

7. Fixed Assets and Depreciation Schedule7. Fixed Assets and Depreciation Schedule7. Fixed Assets and Depreciation Schedule7. Fixed Assets and Depreciation Schedule

Asset ClassAsset ClassAsset ClassAsset Class OfficeOfficeOfficeOffice

Furniture Furniture Furniture Furniture OfOfOfOfficeficeficefice

Equipment Equipment Equipment Equipment Motor Motor Motor Motor vehiclesvehiclesvehiclesvehicles

Computer Computer Computer Computer ServerServerServerServer

Computer Computer Computer Computer OthersOthersOthersOthers TotalTotalTotalTotal

$$$$ $$$$ $$$$ $$$$ $$$$

Original Costs (01/07/2005) 48,199.11 40,392.45 44,933.59 24,893.00 37,679.00 $ 196,097.15 $ 196,097.15 $ 196,097.15 $ 196,097.15

Additional Assets 3,490.22 34,175.38 38,801.32 45,871.83 4,851.42 $ 127,190.17 $ 127,190.17 $ 127,190.17 $ 127,190.17

Disposal Asset - - 12,046.92 - - ----$ 12,046.92 $ 12,046.92 $ 12,046.92 $ 12,046.92

Total CostsTotal CostsTotal CostsTotal Costs $ 51,689.33 $ 51,689.33 $ 51,689.33 $ 51,689.33 $ 74,567.83 $ 74,567.83 $ 74,567.83 $ 74,567.83 $ 71,687.99 $ 71,687.99 $ 71,687.99 $ 71,687.99 $ 70,764.83 $ 70,764.83 $ 70,764.83 $ 70,764.83 $ 42,530.42 $ 42,530.42 $ 42,530.42 $ 42,530.42 $ 311,240.40 $ 311,240.40 $ 311,240.40 $ 311,240.40

Acc. Depreciation (1/07/2005) 25,126.02 13,096.40 38,088.40 20,510.26 22,833.98 $ 119,655.06 $ 119,655.06 $ 119,655.06 $ 119,655.06

Depreciation (2005/2006) 9,714.84 5,133.00 9,992.67 8,765.97 8,112.32 $ 41,718.80 $ 41,718.80 $ 41,718.80 $ 41,718.80

Adjustment - Disposal Assets - - 10,411.16 - - ----$ 10,411.16 $ 10,411.16 $ 10,411.16 $ 10,411.16

Acc. Depreciation (30/06/2006)Acc. Depreciation (30/06/2006)Acc. Depreciation (30/06/2006)Acc. Depreciation (30/06/2006) $ 34,840.86 $ 34,840.86 $ 34,840.86 $ 34,840.86 $ 18,229.40 $ 18,229.40 $ 18,229.40 $ 18,229.40 $ 37,669.91 $ 37,669.91 $ 37,669.91 $ 37,669.91 $ 29,276.23 $ 29,276.23 $ 29,276.23 $ 29,276.23 $ 30,946.30 $ 30,946.30 $ 30,946.30 $ 30,946.30 $ 150,962.70 $ 150,962.70 $ 150,962.70 $ 150,962.70

Book ValueBook ValueBook ValueBook Value $ 16,848.47 $ 16,848.47 $ 16,848.47 $ 16,848.47 $ 56,338.43 $ 56,338.43 $ 56,338.43 $ 56,338.43 $ 34,018.08 $ 34,018.08 $ 34,018.08 $ 34,018.08 $ 41,488.60 $ 41,488.60 $ 41,488.60 $ 41,488.60 $ 11,584.12 $ 11,584.12 $ 11,584.12 $ 11,584.12 $ 160,277.70 $ 160,277.70 $ 160,277.70 $ 160,277.70

2006200620062006

Member Basic Account Nil

Member Voluntary Account Nil

Employer Account Nil

Balance as at 30Balance as at 30Balance as at 30Balance as at 30thththth June 2006 June 2006 June 2006 June 2006 NilNilNilNil


22

8. Insurance Fund8. Insurance Fund8. Insurance Fund8. Insurance Fund

The Insurance Fund was established to account for the management of the Self-Managed Life Insurance Scheme.

2006200620062006 Balance 1st July 2005 Nil

Add: Revenue

Insurance Premiums 220,225.72 Interest on Cheque Account 294.93 Transferred from Reserve 33,508.12

254,028.77254,028.77254,028.77254,028.77

Less: Expenses Insurance Claims (244,190.40) Bank Charges (119.14) (244,309.54)(244,309.54)(244,309.54)(244,309.54) Balance as at 30Balance as at 30Balance as at 30Balance as at 30thththth June 2006 June 2006 June 2006 June 2006 $9,719.23$9,719.23$9,719.23$9,719.23

The Insurance Fund is deposited into a ANZ Bank Limited cheque account with 3.0% interest.

9. Liabilities9. Liabilities9. Liabilities9. Liabilities

2006200620062006

Account Payable and Expenses Accrued 33,165.13

Benefit Payable 4,406.64


10. Deferred Income10. Deferred Income10. Deferred Income10. Deferred Income

2006200620062006

Government of Australia 302.42

Commonwealth Secretariat 11,666.38

Board Appropriation 80,339.52


The Grants have been recognized and accounted for under the Income Approach.


23

11. Members Accrued Benefits11. Members Accrued Benefits11. Members Accrued Benefits11. Members Accrued Benefits The member’s accrued benefits represents the Fund’s present obligation to pay benefits to members and beneficiaries and are determined on the basis of the present value of expected future payments, which arise from membership of the Fund’s up to the reporting date.

(a)(a)(a)(a) Allocations of BenefitsAllocations of BenefitsAllocations of BenefitsAllocations of Benefits

2006200620062006

Allocated to Members Account 56,543,837.47

Unallocated to Members Account Nil

Members Accrued Benefits as at 30Members Accrued Benefits as at 30Members Accrued Benefits as at 30Members Accrued Benefits as at 30thththth June 2006 June 2006 June 2006 June 2006 $5$5$5$56,543,837.476,543,837.476,543,837.476,543,837.47

(b)b)b)b) Movement in Members Accrued BenefitsMovement in Members Accrued BenefitsMovement in Members Accrued BenefitsMovement in Members Accrued Benefits

2006200620062006

Members Accrued Benefits at Beginning of financial year 48,594,708.51

Add: Adjustments of Opening Balance 1,234,899.62

Add: Benefits accrued during the year 9,143,147.94

(Less): Member Accrued Benefits paid during the year (2,428,918.60)

Members Accrued Benefits as at 30Members Accrued Benefits as at 30Members Accrued Benefits as at 30Members Accrued Benefits as at 30thththth June 2006 June 2006 June 2006 June 2006 $56,543,837.47$56,543,837.47$56,543,837.47$56,543,837.47

12. Non12. Non12. Non12. Non----Members Accumulated FundMembers Accumulated FundMembers Accumulated FundMembers Accumulated Fund Non-Member Accumulated Fund was established to cater for the five percent (5%) contribution for those civil servants who remain with the Civil Service Pension Scheme as per request from the Ministry of Finance.

2006200620062006

Non-Members Accumulated Fund balance at the beginning of financial year

305,897.64

Less: Adjustments of Opening Balance (260.50)

Add: Fund Accumulated during the year 93,057.48

(Less): Non-Member Accumulated Fund paid during the year (41,339.56)

NonNonNonNon----Members Accumulated Fund as at 30Members Accumulated Fund as at 30Members Accumulated Fund as at 30Members Accumulated Fund as at 30thththth June 2006 June 2006 June 2006 June 2006 $357,355.06$357,355.06$357,355.06$357,355.06

The Non-Member Fund balance is pooled together with the Member Fund for investment.


24

13. Reserve Accounts13. Reserve Accounts13. Reserve Accounts13. Reserve Accounts

(a) These Reserve Accounts were transferred from the Statement of Operations:

2006200620062006

General Reserve 58,206.12

Investment Fluctuations Reserve 38,804.08

Non-Member Fund 68,060.03

Board Appropriation Reserve 62,114.83

Total Amount transferred from OperationsTotal Amount transferred from OperationsTotal Amount transferred from OperationsTotal Amount transferred from Operations $227,185.06$227,185.06$227,185.06$227,185.06

(b) These reserve Accounts were established to account for fund balances transferred to the

next financial year:

2006200620062006

General Reserve 190,412.31

Investment Fluctuations Reserve 156,060.23

Board Appropriation Reserve 122,708.43


14. 14. 14. 14. Net Investment RevenueNet Investment RevenueNet Investment RevenueNet Investment Revenue

This represents the total Investment revenue less the investment expenses.

2006200620062006

Investment RevenueInvestment RevenueInvestment RevenueInvestment Revenue

Interest on Investment: - Interest on Investment – Term Deposits 2,019,034.77 - Interest on Cheque Account 1,576.94 - Interest on Transfer Preserve Account 1,748,357.59

3,768,969.303,768,969.303,768,969.303,768,969.30

Less: Investments Expenses: - Salary (43,115.63) - Traveling (9,288.48) - Training (2,707.80) - Bank Charges (1,000.00) (56,111.91)(56,111.91)(56,111.91)(56,111.91) Net Investment Revenue as at 30Net Investment Revenue as at 30Net Investment Revenue as at 30Net Investment Revenue as at 30thththth June 2006 June 2006 June 2006 June 2006 $3,712,857.39$3,712,857.39$3,712,857.39$3,712,857.39


25

15. 15. 15. 15. Board Appropriation Revenue and ExpensesBoard Appropriation Revenue and ExpensesBoard Appropriation Revenue and ExpensesBoard Appropriation Revenue and Expenses

This represents the fund balance of the Appropriation Account funded under Section 7 (3) of the Retirement Fund Act being accounted on the same purpose for the next financial year.

2006200620062006 Board Appropriation Revenue 192,500.00 Less Board Appropriation Expenses (130,385.17) Balance to be transferred to Board Appropriation ReserveBalance to be transferred to Board Appropriation ReserveBalance to be transferred to Board Appropriation ReserveBalance to be transferred to Board Appropriation Reserve $62,114.83$62,114.83$62,114.83$62,114.83

16. Ot16. Ot16. Ot16. Other Income and Expensesher Income and Expensesher Income and Expensesher Income and Expenses

This represents the amount of Grants being recognized as income necessary to match with related costs, which they are intended to compensate, on a systematic basis.

2006200620062006

IT Project 117,572.50

Depreciation on Grants Assets 14,567.50


17. Management and Administration Expenses17. Management and Administration Expenses17. Management and Administration Expenses17. Management and Administration Expenses

This represents the administration expenses on the operations of the Fund.

2006200620062006 Salaries 253,691.17 Overtime/Allowance 15,478.45 Employer Contribution 20,291.52 Domestic & Overseas Travel 34,991.55 Telephone/Telecommunication 13,549.40 Publicity & Members Services 4,035.08 Fuel 7,920.13 Maintenance & Services of Assets 7,132.93 Office & Computer Supplies 19,860.74 Electricity 10,821.59 Rental 51,302.16 Insurance 6,478.14 Training 5,777.69 Subscription 6,146.24 Bank Fees 515.41 Office Sundries 306.02 Depreciation 27,151.48 Forfeit Benefit (19,507.47)

Balance as at 30Balance as at 30Balance as at 30Balance as at 30thththth June 2006 June 2006 June 2006 June 2006 $465,942.23 $465,942.23 $465,942.23 $465,942.23


26

18. Retirement Benefit Payments18. Retirement Benefit Payments18. Retirement Benefit Payments18. Retirement Benefit Payments This represents the retirement benefit payments to Members as at 30th June 2006.

2006200620062006 Transfer Preserved Account 1,414,617.59 Contribution Account 55,950.50 Interest Payment Account 74,550.35

Balance as at 30Balance as at 30Balance as at 30Balance as at 30thththth June 2006 June 2006 June 2006 June 2006 $1,545,118.44$1,545,118.44$1,545,118.44$1,545,118.44

19. Notes to the Statement of Cash Flows19. Notes to the Statement of Cash Flows19. Notes to the Statement of Cash Flows19. Notes to the Statement of Cash Flows

(a)(a)(a)(a) Reconciliation of CashReconciliation of CashReconciliation of CashReconciliation of Cash For the purposes of the Statement of Cash Flows, cash includes cash on hand and at bank. Cash at the end of the reporting period as shown in the Statement of Cash Flows is reconciled to the related items in the Statement of Financial Position as follows:

2006200620062006

Cash at Bank 8,544,792.65

Cash on hand Nil

Balance as at 30Balance as at 30Balance as at 30Balance as at 30thththth June 2006June 2006June 2006June 2006 $8,544,792.65$8,544,792.65$8,544,792.65$8,544,792.65

(b)(b)(b)(b) Reconciliation of Net Cash provided by operating activities to benefits accrued Reconciliation of Net Cash provided by operating activities to benefits accrued Reconciliation of Net Cash provided by operating activities to benefits accrued Reconciliation of Net Cash provided by operating activities to benefits accrued from operationfrom operationfrom operationfrom operation

2006200620062006

Benefit Accrued during the year 9,143,147.94 less Accrued Benefit paid (2,428,918.60) less Net RFB Staff Contribution (19,462.37) less Net Interest on Investment Revenue (5,342,543.10) plus Increase in Liabilities 96,613.04 plus Transfer Preserved Account Received 7,028,664.43 plus Decrease in Other Receivable 1,178,840.42 plus Decrease in Allocated Pension 14,442.97 plus Decrease in Contribution Receivable 0.00 plus Net Transfer to Reserves 227,185.06 plus Depreciation 27,151.48

Net Cash Provided by Operating ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Provided by Operating Activities $9,925,121.27$9,925,121.27$9,925,121.27$9,925,121.27


27

20202020. . . . Statement of Movement in Members FundStatement of Movement in Members FundStatement of Movement in Members FundStatement of Movement in Members Fund This represents the movement in Members Fund for the year ended 30 June 2006.

22221111. Principal Activities. Principal Activities. Principal Activities. Principal Activities

The Principal Activities of the Fund during the year include the collection of Retirement Fund Board contributions, the processing of withdrawal of Retirement Fund Board saving by members under various ground such as; Disablement, Death, Resignation/Dismissal and Early Release Benefits, and when member reach retirement age, and administration of Life Insurance Fund and Non-Member Accumulated Fund.

22222222. Subsequent Event. Subsequent Event. Subsequent Event. Subsequent Event Eight hundred and twenty (818) members accepted the voluntary redundancy package offered by the employer as at 30th June 2006. The Fund has processed their retirement benefit entitlements of approximately $13.2 millions for audit opinion and payments during the months of July and August 2006.

Members Allocated Insurance Non-Member General Investment Board Total

Accrued Pension Fund Accumulated Reserve Fluctuation Appropriation Members

Benefit Benefit Fund Reserve Reserve Fund

Balance at the Beginning 48,580,265.54 14,442.97 3,508.12 305,897.64

196,848.88

116,791.18

209,570.40 $49,427,324.73

Movement

Adjustment Opening Balance 1,260,362.04 - - (260.50) - - $1,260,101.54

Transfer from Operation - - - 68,060.03 58,206.12

39,269.05 62,114.83 $227,650.03

Transfer from/to other Reserves (24,997.45) - 30,000.00 24,997.45 - - (30,000.00) -

Received during the Year 9,142,682.97 - 220,520.65 - - - - $9,363,203.62

Paid during the Year (2,414,475.63)

(14,442.97)

(244,309.54) (41,339.56)

(64,642.69) -

(118,976.80) (2,898,187.19)

Total Movements 7,963,571.93 (14,442.97) 6,211.11 51,457.42

(6,436.57)

39,269.05

(86,861.97) $ 7,952,768.00

Balance at the End $ 56,543,837.47 $ - $ 9,719.23 $357,355.06 $190,412.31

$156,060.23 $ 122,708.43

$57,380,092.73


28

TatauTatauTatauTatau: RFB/A1/428 ‘Aho‘Aho‘Aho‘Aho: 6 ‘o Tisema 2006.

Siosiua ‘Utoikamanu, ‘Eiki Minista Pa’anga, Potungaue Pa’anga, NUKU’ALOFA.NUKU’ALOFA.NUKU’ALOFA.NUKU’ALOFA. ‘Eiki Minista, Fakatatau ki he kupu 10(1) ‘ e Lao ki he Sino’i Pa’anga Malolo mei he Ngaue 1998, ‘oku ou ongo’i langilangi’ia keu fakafofonga’i atu ‘a e Poate ‘i hono fakahoko atu ‘a e Fakamatala Fakata’u ‘a e Poate ‘a e Sino’i Pa’anga Malolo mei he Ngaue, fakataha mo e Fakamatala Pa’anga kuo ‘osi ‘Atita’i ki he ta’u ‘o ngata ‘i he ‘aho 30 ‘o Sune 2006. Faka’apa’apa atu, Dr. S Leimoni Taufu'i ‘Ofisa Pule Fakahoko Ngaue mo Sekelitali ki he Poate‘Ofisa Pule Fakahoko Ngaue mo Sekelitali ki he Poate‘Ofisa Pule Fakahoko Ngaue mo Sekelitali ki he Poate‘Ofisa Pule Fakahoko Ngaue mo Sekelitali ki he Poate

P.O.Box 96, Nuku’alofa, KINGDOM of TONGA Telephone: (676) 25–433, Facsimile: (676) 25-422, Email: [email protected]


29

MMMMAKAKAKAKAMAILE AMAILE AMAILE AMAILE FFFFAKAPAAKAPAAKAPAAKAPA’’’’ANGA ANGA ANGA ANGA 2005/20062005/20062005/20062005/2006 2004/052004/052004/052004/05 2005/06 2005/06 2005/06 2005/06

$$$$ $ $ $ $

PPPPAAAA’’’’ANGA ANGA ANGA ANGA TTTTÄTÄNAKIÄTÄNAKIÄTÄNAKIÄTÄNAKI

Kätoa Pa’anga Tätänaki 4,305,999.36 6,453,443.49

‘Akauni Ta’ekouna’i 96,703.30 130,994.77

KKKKÄTOA ÄTOA ÄTOA ÄTOA PPPPAAAA’’’’ANGA TUPU MEI HE ANGA TUPU MEI HE ANGA TUPU MEI HE ANGA TUPU MEI HE ‘I‘I‘I‘INIVESIMENIVESIMENIVESIMENIVESIMENINININI

Pa’anga tupu ‘i he ‘Inivesimeni 3,004,826.69 3,712,857.39

TTTTOTONGI OTONGI OTONGI OTONGI MMMMÖNUÖNUÖNUÖNU’’’’IA KI HE IA KI HE IA KI HE IA KI HE MMMMÄLÖLÖ MEI HE ÄLÖLÖ MEI HE ÄLÖLÖ MEI HE ÄLÖLÖ MEI HE NNNNGÄUEGÄUEGÄUEGÄUE

Kätoa e ngaahi Mönu’ia 2,393,955.32 2,719,933.57

Monuia Mälölö mei he Ngäue 110 182

HOKOHOKOHOKOHOKOHOKOHOKOHOKOHOKO

FAKAMATALA ‘A E PULE FAKAHOKO NGAUE 30

TO’OTO’O KONGA LALAHI ‘OE NGAAHI FAKAHOKO NGAUE 32

LIPOOTI ‘A E ‘ATITA 34

FAKAMATALA PA’ANGA 35

FAKAMATALA PA’ANGA KI HE FAKAHOKO NGAUE 36

FAKAMATALA KI HE FEHU’AKI ‘A E PA’ANGA 37

FAKAMATALA KI HE FEHU’AKI ‘A E PA’ANGA ‘A E KAU MEMIPA 38

NGAAHI TU’UTU’UNI FAKATAUHITOHI 39

KO E FAKAMATALA FAKAIKIKI MO E KONGA ‘O E FAKAMATALA PA’ANGA 42


30

FAKAMATALA ‘A E PULE FAKAHOKO NGAUEFAKAMATALA ‘A E PULE FAKAHOKO NGAUEFAKAMATALA ‘A E PULE FAKAHOKO NGAUEFAKAMATALA ‘A E PULE FAKAHOKO NGAUE

FFFFAKALUKUFUAAKALUKUFUAAKALUKUFUAAKALUKUFUA

Ko e 2005/2006 na’e hoko ai ‘a e ngaahi me’a lalahi ‘i he fua fatongia ‘a e Sino’i Pa’anga Mälölö mei he Ngäue, ne hoko ‘eni ko ha ngaahi faingamälie mo e ngaahi pole lahi foki. Makatu’unga ‘i he tu’unga faka’ekonomika ‘o tupu ai ‘a e fiema’u pa’anga ‘a e maketi fakalotofonua na’a ne ‘omi ai ‘a e faingamälie ki he Sino’i Pa’anga Mälölö ke ne taai mu’a hono feinga ke hiki hake ‘a e peseta totongi tupu ‘o a’u ki he tu’unga ma’olunga ko e peseta ‘e 10.95 (%). Ko e tukungäue ‘a e Kau Ngaue Faka-Pule’anga ‘i he kamata ‘o e tau fakapa’anga na’a hoko foki ko e pole lahi ki he fakahoko fatongia ‘a e tafa’aki fakahoko ngäue. Na’e lahi foki ‘a e ngaahi liliu mo e fakalelei ‘o e ‘akauni tätänaki ‘a e Memipa lolotonga ‘o e tukungäue pea mo e hiki vahenga ko ia ‘aki 60%-70%-80% ‘o fakafoki ki he ‘aho 1 Siulai 2005. ‘I he taimi tatau na’e lahi ai pe mo e liliu ki he founga ngäue fakakomipiuta ‘a e Sino’i Pa’anga. Ko e polokalama tau’ataina ‘a e Pule’anga ki he mälölö mei he ngäue na’e tali ai ‘e he Kau Memipa ‘e toko 818 ke nau mälölö mei he ngäue. Ko e ngaahi monu’ia mälölö mei he ngäue na’e $13.2 miliona na’e teuteu’i ‘i he ‘aho 30 Sune 2006 ke atita’i pea ke totongi atu. ‘I‘I‘I‘INVESIMENINVESIMENINVESIMENINVESIMENI

Ko e kätoa ‘o e pa’anga tupu na’e ma’u mei he inivesimeni na’e tupu ‘o a’u ki he $3,712,857.39, tupu’aki ‘a e peseta ‘e 24 pea na’e fakahä ai pë ‘e he Poate ‘a e tu’unga tupu fakataimi ko e peseta ‘e 6.5 (%) ke tufa atu ki he ‘Akauni ‘a e Memipa ‘i he ‘aho sivi. PPPPAAAA’’’’ANGA ANGA ANGA ANGA TTTTATANAKIATANAKIATANAKIATANAKI

Ko e hiki ko ia ‘i he vahenga ‘o e kau ngäue faka-pule’anga ‘o kamata mei 1 ‘o Siulai 2005 na’a ne hiki hake ‘a e pa’anga tätänaki ‘aki ‘a e peseta ‘e 50(%). Ko e kätoa ‘o e ngaahi monu’ia ‘a e Kau Memipa na’e tupu hake ki he $56,543,837.47, ‘a ia ko e tupu’aki ‘a e peseta ‘e 16 (%). Ko e kätoa ‘o e pa’anga tätänaki na’e tupu ki he $6,453,443.49, ko e tupu’aki ia ‘a e peseta ‘e 50 (%). Ko e ‘Akauni ta’ekouna’i na’e tupu ‘aki ‘a e

peseta ‘e 35 (%) ‘o fakafehoanaki ki he tupu peseta ‘e 24 he ta’u kuo ‘osi. FFFFAKAMOLE KI HE AKAMOLE KI HE AKAMOLE KI HE AKAMOLE KI HE PPPPULEULEULEULE’’’’I I I I ‘‘‘‘O E O E O E O E KKKKAU AU AU AU MMMMEMIPAEMIPAEMIPAEMIPA

Na’e a’usia ‘a e tu’unga fakamole fakalukufua ko e peseta ‘e 0.87 (%), ‘o fakahoa ki he peseta ‘e 0.93 (%) ‘o e ta’u kuo ‘osi. Fakafehoanaki ki he ngaahi Sino’i Pa’anga tatau ‘i he Pasifiki, ‘oku kau ‘eni ‘i he tu’unga fakafiemälie mo’oni kuo a’usia, lolotonga ‘oku kei ‘i he tu’unga fakalakalaka pë ‘a e Sino’i Pa’anga. Koe‘uhi ko e kei mämälie ‘a e tu’unga faka’ekonomika, ‘oku kei taumu’a pe ‘a e Sino’i Pa’anga ki hono holoki ‘a e fakamole pea siofi ke langa ha tu’unga fakahoko fatongia ‘oku fakatekinikale ange. TTTTUUUU’’’’UNGA UNGA UNGA UNGA FFFFAKATEKINOLOSIAAKATEKINOLOSIAAKATEKINOLOSIAAKATEKINOLOSIA

Koe‘uhi ko e toe fakautuutuange ‘a e lahi ‘o e ngaahi fakamatala ngäue ke fakahü, ‘a ia ‘oku ‘avalisi ki he 20,000 he mahina, na’e hiki hake ‘a e founga ngäue fakakomipiuta mei he MS Access ki he MS SQL Server. Ko e Data Torque e-Business ‘o Uelingatoni na’a ne ma’u ‘a e ngäue hili hono tu’uaki, ki hono langa mo fakahoko ‘a e ngaue. Ko e founga ngaue fakakomipiuta fo’ou ‘oku ne tokoni lahi aupito ki he malu, lahi ange mo e founga fakalelei. FFFFAKAHOKO AKAHOKO AKAHOKO AKAHOKO FFFFATONGIA KI HE ATONGIA KI HE ATONGIA KI HE ATONGIA KI HE KKKKAU AU AU AU MMMMEMIPAEMIPAEMIPAEMIPA

Ko e fakahoko fatongia lelei ki he Kau Memipa ‘oku kei hoko pë ko e taumu’a ‘a e Poate. Ko hono fakatau ‘o e me’a ngäue ki he ID kaati ‘a e Memipa mo e feinga ke lava ‘e he Memipa ‘o vakai’i ‘e ne ‘Akauni ‘i he ngaluope, ne kau ia he palani lölöa ki hono fakalakalaka ai pë ‘o e fakahoko fatongia ki he Kau Memipa. Ko hono fakahu fakapangikë ‘o e ngaahi totongi monu’ia, ‘oku tokoni ki he holoki ‘a e ngaue ‘i he tafa’aki fakahoko fatongia, ‘o lahi leva ‘a e taimi ki hono teuteu’i, mo e fua ‘o e ngaue ‘i he ngaahi tafa’aki kotoa.


31

AAAAKO KO KO KO TTTTAIMI NOUNOU MO E AIMI NOUNOU MO E AIMI NOUNOU MO E AIMI NOUNOU MO E FFFFAKALAKALAKA AKALAKALAKA AKALAKALAKA AKALAKALAKA ‘‘‘‘O E O E O E O E NNNNGAUEGAUEGAUEGAUE

‘Oku kei hokohoko atu pe ‘a e hoko ‘a e ako taimi nounou ko hono fakalahi mo fakalakalaka ‘a e tu’unga ‘ilo mo e poto’i ngaue ‘a e kau ngaue. Ko e palani ako fakata’u/ako ngaue ‘oku hoko ko e makatu’unga mälohi ki he kau ngäue, ‘i he ngaahi ako pea mo Sino’i Pa’anga ‘a Singapoa mo Fisi.

Na’e ma’u foki ‘e he Poate ha ongo sikolasipi ‘e 2 ki he ‘ako ma’olunga ange. Ko Melesia ‘Aho Palu kuo kamata ‘ene ako ta’u 2 ‘I he sikolasipi ki he Master of Professional Business Studies ‘i he ‘Univesiti Fakatekinolosia ‘a ‘Aokalani. Ko Lesieli Mafi ‘oku kamata foki mo ‘ene ako tau 1½ ki he Master in Professional Business (Professional Accounting) ‘i he ‘Univesiti Fakatekinolosia ‘a Vikatolia ‘i ‘Aositelelia. Ko e kau ‘ofisa ma’olunga na’a nau kau atu foki ki he ngaahi ako ‘a ia ‘oku ‘ikai lava ‘o ma’u fakalotofonua ke ma’u ha ngaahi ‘ilo moe poto’i ngäue ‘i he ngaahi tafa’aki hangë ko e malu’i mo’ui fakasino, vakai’i ‘o e Sino’i Pa’anga, malu’i mo’ui, founga fakalele ‘o e Sino’i Pa’anga mo e founga vakai ‘o e tu’unga fakahoko fatongia ‘i Fisi, Singapoa mo Pilitänia. Na’e kole foki ‘e he Sino’i Pa’anga ha ako ma’a e kau Talekita mo e kau fakahoko fatongia ‘i he ngaahi Sino’i Pa’anga ‘a ia na’e fakahoko ‘i Tonga ni pea na’e fakalele ia ‘e he ongo mataotao mei he Kautaha Sino’i Pa’anga ‘a Aositelelia (ASFA) ‘i he ‘aho 21 – 24 ‘o Novema 2005. Ko e ako ni na’e fakapa’anga kotoa pë ‘e he Pule’anga ‘Aositelelia. KKKKONIFELENISI ONIFELENISI ONIFELENISI ONIFELENISI FFFFALAVAHAALAVAHAALAVAHAALAVAHA’’’’APULEAPULEAPULEAPULE’’’’ANGAANGAANGAANGA

‘Oku kei hokohoko pë hono fakakau atu ‘a e Kau Memipa Poate mo e Kau Ngäue ki he ngaahi fakalakalaka ‘o e fakahokofatongia ‘i he mala’e ‘o e sino’i pa’anga ‘aki ‘a ‘enau kau atu ki he ngaahi konifelenisi mo e ako ngäue ‘a ia na’e fokotu’utu’u ‘e he Sino’i Pa’anga ‘o Singapoa, Kautaha Sino’i Pa’anga ‘Aositelelia (ASFA), CPA ‘Aositelelia mo e ‘Ofisi Kominiueli ‘i Pilitania.

FFFFOOOOUNGA UNGA UNGA UNGA MMMMALUALUALUALU’’’’I I I I MMMMOOOO’’’’UIUIUIUI

Kuo tali foki ‘e he Poate ke pule’i mo fakalele pë ‘e he Sino’i Pa’anga ‘a e founga malu’i mo’ui ‘o kamata mei he 1 Siulai 2005. Ko e founga ko eni ‘oku ne faka’atä ‘a e Sino’i Pa’anga kene pule’i mo fakalele ‘a e founga malu’i mo’ui, pea hoko foki ‘eni ken e fakangata ai pë ‘a e totongi malu’i mo e fakahoko fatongia ‘e he Kautaha Colonial Fiji (Life) Insurance Limited. Ko e Poate

Lolotonga ‘o e ta’u, na’e fakamälö’ia ai ‘a e fakahoko fatongia ‘a e Tama Pilinisi ‘Ulukalala-Lavaka-Ata, hili ia ‘ene poaki mälölö mei he ngaahi fatongia faka-‘ofisi pea ne talitali lelei ai pë ‘a e Sea fo’ou ki he Poate, ‘Eiki Dr. Feleti Vaka’uta Sevele ki he fatongia. Koe‘uhi ko hono fokotu’u ‘o ‘Eiki Siaosi Taimani ‘Aho ko e Minisita Polisi, na’e talitali ai ‘e he Poate ‘a e Minisita Lao mo ‘Ateni Seniale fo’ou, ‘Eiki ‘Alisi Numia Taumoepeau. Na’e fakahoko ‘a e fili ‘o e kau Fakafofonga Memipa ki he ta’u ngaue 2005/2008, ko e Kau Memipa ko Fotu Fisi’iahi mo Manu ‘Akauola, pea ko Vuna Fa’otusia mo Folau Lokotui ‘a e ongo Memipa Talifaki. Ne mahino ‘aupito ‘a e lahi ‘a e ngaahi fakahoko ngäue ‘a e Sino’i Pa’anga Mälölö ‘i he ta’u ni pea ‘oku mau fakatu’amelie ki ha ngaahi ngäue ‘i he ‘inivesimeni pea mo e fakahoko ngäue ‘a e Sino’i Pa’anga ‘i he ta’u ‘e tolu ka hoko. ‘I he faka’osi, ‘oku ou fakamälö lahi ki he kau Memipa ‘o e Sino’i Pa’anga Mälölö mei he Ngäue pehë foki ki he Pule’anga ‘i he’enau falala ki he Poate, pea mo e kau Ngäue kenau hoko ko e kau tauhi koloa mo tauhi ‘enau fakahü pa’anga ki he’enau mälölö mei he ngäue. ‘Oku ou toe fie puke ‘a e faingämalié ni keu fakamälö ki he Sea pea mo e Poate ki ho’omou ngaahi tataki mo e poupou lolotonga ‘o e ta’u pehë foki ki he kau Ngäue ‘i he’enau taliangi mo e loto mo’oni kenau ngäue fakataha ‘i he fatongiá ni.


32

Total Benefit Payments

G round Amount

Norm al 858,538.75

Death 318,147.41

- Insurance Benefit -

D isablem ent 270,750.03

Early Re lease 1,211,350.96

Resignation/D ism issa l 18,994.24

Old Schem e 42,152.18

Grand Total 2,719,933.57$

TO’OTO’O KONGA LALAHI TO’OTO’O KONGA LALAHI TO’OTO’O KONGA LALAHI TO’OTO’O KONGA LALAHI ‘OE‘OE‘OE‘OE NGAAHI FAKAHOKO NGAUE NGAAHI FAKAHOKO NGAUE NGAAHI FAKAHOKO NGAUE NGAAHI FAKAHOKO NGAUE

Ko e Sino’i Pa’anga ko e Sino’i Pa’anga Tätänaki pea ‘oku fakahoko ‘a e ngäue ‘o fakatatau ki he ngaahi tu’utu’uni ‘a ia ‘oku hä ‘i he Lao ki he Sino’i Pa’anga Mälölö mei he Ngäue 1998; Lao ki he Poate Sino’i Pa’anga Mälölö mei he Ngäue 1998; mo e Ngaahi Tu’utu’uni (Pule’i) ‘o e Sino’i Pa’anga Mälölö mei he Ngäue 1999. TTTTUUUU’’’’UNGA UNGA UNGA UNGA ‘‘‘‘O E KAU O E KAU O E KAU O E KAU MMMMEMIPAEMIPAEMIPAEMIPA

Katoa e kau Memipa 'i he 'aho 30 'o

Sune

3800

4000

4200

4400

4600

4800

5000

2002 2003 2004 2005 2006

Ta'u

Memipa

Ko e kätoa ‘o e kau mëmipa na’a nau tätänaki ki he Sino’i Pa’anga Mälölö mei he Ngäue ‘i he ‘aho 30 ‘o Sune 2006 ko e toko 4,946. Ko e fika ko ‘eni ‘oku kau ai e kau memipa ‘oku mälölö ‘eve’eva mo e folau ako ki muli kae ‘ikai vahe. PPPPAAAA’’’’ANGA ANGA ANGA ANGA TTTTATANAKIATANAKIATANAKIATANAKI

Katoa e Pa'anga Tatanaki 'i he 'aho 30 'o Sune

-

1,000,000.00

2,000,000.00

3,000,000.00

4,000,000.00

5,000,000.00

6,000,000.00

7,000,000.00

2002 2003 2004 2005 2006

Ta'u

Pa'anga

Ko e kätoa ‘o e pa’anga tätänaki na’e tänaki lolotonga ‘o e ta’u ngäue na’e fe’unga mo e $4,453,443.49. 'I hono fakafehoanaki mo e ta’u kuo ‘osi, ko e Pa’anga tätänaki ‘oku ne tupu ‘aki e $2,147,444.13 pe peseti ‘e 50 (%).

Ko e ‘Akauni ta’ekouna’i na’e fe’unga mo e $130,994.77 ’a ia ‘oku tupu aki ‘a e peseti ‘e 35 (%). NNNNGAAHI MONUGAAHI MONUGAAHI MONUGAAHI MONU’’’’IA IA IA IA ‘‘‘‘O E KAU O E KAU O E KAU O E KAU MMMMEMIPAEMIPAEMIPAEMIPA

Lolotonga ko ‘eni ‘a e tatali ki hono fakakakato ’o hono totongi mai ’o e ‘Akauni Liliu Tauhi, ko e katoa ‘o e ngaahi Monu’ia Tauhi ma’ae kau Memipa ki he ta’u ‘o ngata ‘i he ‘aho 30 ‘o Sune 2006 na’e fe’unga mo e $56,543,837.47 TTTTUUUU’’’’UNGA PAUNGA PAUNGA PAUNGA PA’’’’ANGA TUPUANGA TUPUANGA TUPUANGA TUPU

Na’e fakaha ’e he Poate ’a e tu’unga tupu ko e peseti ‘e 6.5 (%) ke kuletiti ki he ‘Akauni ‘a e Memipa ‘i he ‘aho sivi. NNNNGAAHI TOTONGI MONUGAAHI TOTONGI MONUGAAHI TOTONGI MONUGAAHI TOTONGI MONU’’’’IA KI HE MĀLŌLŌ MEI IA KI HE MĀLŌLŌ MEI IA KI HE MĀLŌLŌ MEI IA KI HE MĀLŌLŌ MEI HE HE HE HE

NGĀUENGĀUENGĀUENGĀUE

Ko e kätoa ‘o e pa’anga na’e totongi atu kiate kinautolu kuo mälölö mei he ngäue ‘i he ngaahi makatu’unga kehekehe, na’e fe’unga mo e $2,719,933.57, ‘a ia na’e tupu ‘aki ‘a e $325,978.25, pe peseti ‘e 13 (%).


33

Number of Members retired as at 30th June

Ground Jun-02 Jun-03 Jun-04 Jun-05 Jun-06 Total

Normal 58 59 67 58 35 322

Death 9 18 16 9 16 78

Disablement 7 23 40 29 26 140

Early Release 0 0 0 9 91 101

Resignation/Dismissal 6 3 5 14 6 43

Civil Pension Scheme 42 26 17 18 8 183

Total 122 129 145 137 182 685

MMMMONUONUONUONU’’’’IA KI HE PEKIA IA KI HE PEKIA IA KI HE PEKIA IA KI HE PEKIA

Ko e kätoa ‘o e pa’anga na’e totongi atu kiate kinautolu na’e pekia lolotonga ‘enau faifatongia, mei he founga malu’i mo’ui ‘a e Poate, na’e fe’unga mo e $318,479.41.

Ko e fu’u hiki lahi ‘o e pa’anga totongi malu’i mo’ui, na’e tupu ia mei he hiki ‘o e vahenga ‘i he

fakalelei vahenga lolotonga ‘o e ta’u. ‘I‘I‘I‘INIVESIMENINIVESIMENINIVESIMENINIVESIMENI

Fakatatau ki he Kupu 7(1) mo e 8(1) ‘o e Lao ki he Sino’i Pa’anga Mälölö mei he Ngäue 1998, Kuopau ke fokotu’u mo tauhi ‘e he Poate ‘o e Sino’i Pa’anga ‘a e ‘Akauni ‘i he Pangike Pule Fakafonua ‘a Tonga (pe ko ha pangike kehe kuo loto ki ai ‘a e Pangike Pule Fakafonua ‘a Tonga). Ko e katoa ‘o e pa’anga ‘oku ‘inivesi ‘i he maketi fakalotofonua ‘a ia na’e lekooti ‘a e katoa na’e fe’unga mo e $26,869,230.36 ‘i he ‘aho 30 ‘o Sune 2006.

Ko e ‘Akauni liliu tauhi na’e lekooti ‘oku ‘i he $14,414,266.54. TTTTUUUU’’’’UNGA UNGA UNGA UNGA

FAKATEKINOLOSIAFAKATEKINOLOSIAFAKATEKINOLOSIAFAKATEKINOLOSIA

‘Oku kei hoko pe foki ‘a e ngaahi naunau fakatekinolosia ko e me’a ngaue mahu’inga ki he fakahoko fatongia

‘a e Sino’i Pa’anga Malolo. Kuo hanga foki ‘e he Tafa’aki Fakakomipiuta ‘o fokotu’utu’u ‘a e ngaahi taumu’a ngaue fakakomipiuta ke tokoni ki he toe lelei ange ‘enau fua fatongia. ‘A‘A‘A‘AKAUNI KAUNI KAUNI KAUNI ‘‘‘‘A KINAUTOLU A KINAUTOLU A KINAUTOLU A KINAUTOLU ‘‘‘‘OKU OKU OKU OKU ‘‘‘‘IKAI KE IKAI KE IKAI KE IKAI KE MMMMEMIPAEMIPAEMIPAEMIPA

Kuo tuku mai foki ‘e he Potungaue Pa’anga ki he Sino’i Pa’anga ‘a e mafai ki hono tauhi mo pule’i ‘o e ’Akauni ‘akinautolu ‘oku ‘ikai memipa.


34

LIPOOTI ‘A E ‘ATITALIPOOTI ‘A E ‘ATITALIPOOTI ‘A E ‘ATITALIPOOTI ‘A E ‘ATITA


35

FAKAMATALA PA’ANGAFAKAMATALA PA’ANGAFAKAMATALA PA’ANGAFAKAMATALA PA’ANGA

KI HE TA’U ‘O NGATA ‘I HE ‘AHO 30 ‘O SUNE 2006

Sune 2006 Sune 2005

Nouti $ $

Ngaahi Koloa

Ngaahi ‘Invesimeni

Ngaahi Tipositi Taimi Pau 2 26,869,230.35 20,150,041.25

Ngaahi ‘Akauni Liliu Tauhi 3 14,414,266.54 20,456,117.02

41,283,496.89 40,606,158.27

Ngaahi Koloa Tukupau

Kehe

Pa’anga ‘i he Pangike 8,544,792.65 45,936.02

Pa’anga Tatanaki te’eki ma’u 4 0.00 0.00

Pa’anga Tupu te’eki ma’u 5 7,510,288.62 8,727,674.52

Ngaahi Fakamo’ua kehe 6 1,397.73 5,121.33

Ngaahi Koloa Ngaue Tukupau 7 160,277.70 76,442.07

16,216,756.70 8,855,173.94

Sino’i Pa’anga Malu’i Mo’ui 8 9,719.23 0.00

Fakakatoa Ngaahi Koloa

Ngaue 57,509,972.82 49,461,332.21

Kole: Ngaahi Mo’ua 9 (37,571.77) (21,873.20) Ngaahi Tokoni Toloi 10 (92,308.32) (12,134.28)

(129,880.09) (34,007.48)

Katoa Pa’anga ‘a e Kau

Memipa $57,380,092.73 $49,427,324.73

‘Oku ne Fakafofonga’i ‘a e:

Ngaahi Monu’ia ki he Kau Memipa 11 56,543,837.47 48,594,708.51

Sino’i Pa’anga Malu’i Mo’ui 8 9,719.23 0.00

Sino’i Pa’anga ‘akinautolu ‘oku ‘ikai Memipa

12 357,355.06 305,897.64

Ngaahi Pa’anga Talifaki 13b 469,180.97 526,718.58

Katoa Pa’anga ‘a e Kau Memipa $57,380,092.73 $ 49,427,324.73

Fakamo’oni ‘eni fakatatau ki he tu’utu’uni ‘a e Poate.

Honourable Dr. Feleti Sevele

Sea Dr. S Leimoni Taufu'i FCPA

‘Ofisa Pule Fakahoko Ngaue

Ko e fakamatala pa’anga ko ‘eni ‘e lau fakataha mo e fakamatala fakaikiiki mo e konga ‘o e

fakamatala pa’anga ‘a ia ‘oku ha atu ‘I he peesi 39 to 51


36

FAKAMATALA PA’ANGA KI HE FAKAHOKO NGAUEFAKAMATALA PA’ANGA KI HE FAKAHOKO NGAUEFAKAMATALA PA’ANGA KI HE FAKAHOKO NGAUEFAKAMATALA PA’ANGA KI HE FAKAHOKO NGAUE


Sune 2006 Sune 2005

Nouti $ $

Pa’anga Tatanaki

Tefito’i ‘Akauni ‘a e Memipa 2,528,897.49 1,684,795.75

‘Akauni Ta’ekouna’i ‘a e Memipa 130,994.77 96,703.30

‘Akauni ‘a e Pule Ngaue’anga 3,793,551.23 2,524,500.31

6,453,443.49 4,305,999.36

Toenga Pa’anga Humai mei he Invesimeni 14

3,712,857.39

3,004,826.69

Ngaahi Pa’anga Humai Kehe

‘Akauni Liliu Tauhi 1,329,294.38 1,149,610.99

‘Akauni ‘akinautolu ‘oku ‘ikai Memipa 72,905.46 62,527.65

Pa’anga mei Malu’i Mo’ui ‘a e Kau Memipa 246,903.60 102,982.45

Pa’anga mei Pule Ngaue’anga 15 192,500.00 171,777.74

Pa’anga Humai Makehe 16 132,140.04 10,298.34

Pa’anga Kehe 0.00 88.45

1,973,743.48 1,497,285.62

Katoa Pa’anga Humai $12,140,044.36 $ 8,808,111.67

To’o Ngaahi Fakamole ki hono Tauhi mo

Pule’i ‘o e Sino’i Pa’anga

Fakamole ki he Malu’i Mo’ui ‘a e Kau Memipa (243,563.87) (122,196.25)

Fakamole ki he Pule’i ‘o e Kau Memipa 17 (465,942.23) (445,746.44)

Fakamole ki he Ngaahi Monu’ia Malolo mei he ngaue

18 (1,545,118.44) (1,481,431.84)

Pa’anga Malu’i Mo’ui na’e Totongi (246,903.60) (0.00)

Fakamole kiate kinautolu ‘oku ‘ikai Memipa (5,658.05) (0.00)

Fakamole ki he Poate Pule 15 (130,385.17) (171,777.74)

Fakamole Makehe 16 (132,140.00) (10,298.34)

Katoa ngaahi fakamole ki hono Tauhi mo

Pule’i ‘o e Sino’i Pa’anga (2,769,711.36) (2,231,450.61)

Ola ‘o e Fakahoko Ngaue 9,370,333.00 $ 6,576,661.06

To’o Pa’anga na’e liliu ki he Pa’anga Talifaki 13a (227,650.03) (150,168.74)

Ngaahi Monu’ia Tauhi ‘e Tufotufa ki he Kau

Memipa

$9,142,682.97 $ 6,426,492.32

Ko e fakamatala pa’anga ko ‘eni ‘e lau fakataha mo e fakamatala fakaikiiki mo e konga ‘o e fakamatala pa’anga ‘a ia ‘oku ha atu ‘I he peesi 39 to 51


37

FAKAMATALA KI HE FEHU’AKI ‘A E PA’ANGAFAKAMATALA KI HE FEHU’AKI ‘A E PA’ANGAFAKAMATALA KI HE FEHU’AKI ‘A E PA’ANGAFAKAMATALA KI HE FEHU’AKI ‘A E PA’ANGA


Sune 2006 Sune 2005

Nouti $ $

Pa’anga mei he Fakahoko Ngaue:

Pa’anga na’e ma’u: Tefito’i ‘Akauni ‘a e Memipa 2,513,531.64 1,675,923.17

‘Akauni Ta’ekouna’i ‘a e Memipa 119,704.50 90,534.54

‘Akauni ‘a e Pule Ngaue’anga 3,769,811.48 2,511,964.93

Katoa Pa’anga Tatanaki 6,403,047.62 4,278,422.64

‘Akauni Liliu Tauhi 7,028,664.43 1,444,933.28

‘Akauni ‘akinautolu ‘oku ‘ikai Memipa 72,905.46 62,527.65 Pa’anga mei Pule Ngaue’anga 192,500.00 105,000.54

Pa’anga Kehe 19,147.80 88.45

Pa’anga Malu’i Mo’ui mei ‘a e Kau Memipa 2,713.20 102,982.45

13,718,978.51 5,993,955.01

Pa’anga na’e totongi atu ki he ngaahi me’a ni:

Totongi ki he Poate Pule (62,110.86) (89,266.40)

Totongi ki he Kau Ngaue ‘a e Poate (386,897.36) (268,647.01)

Totongi ki he Malu’i Mo’ui ‘a e Kau Memipa (220,225.72) (114,523.54)

Ngaahi fakamole Fakalukufua (377,031.13) (207,365.66)

Totongi kiate kinautolu ‘oku ‘ikai Memipa (42,152.18) 0.00

Totongi Monu’ia Ki he Malolo Mei he Ngaue (2,677,781.38) (2,393,955.32)

3,766,198.63 (3,073,757.93)

Toenga Pa’anga mei he Fakahoko Ngaue 9,952,779.88 2,920,197.08

Pa’anga mei he Ngaahi Fatongia ‘Inivesimeni:

Pa’anga na’e ma’umei he:

‘Inivesimeni 22,826,230.37 5,327,974.87

Pa’anga Tupu Mei he Sieke 1,576.94 744.97

Pa’anga Tupu Mei he ‘Akauni Liliu tauhi 3,459,312.06 544,273.91

Pa’anga Tupu Mei he ‘Inivesimeni 1,937,766.01 1,257,338.56

28,224,885.38 7,130,332.31

Pa’anga na’e totongi atu ki he ngaahi me’a ni:

Fakatau ‘o e Ngaahi Koloa Ngaue Tukupau (127,190.17) (31,736.00)

‘Inivesimeni (29,551,618.46) (9,975,701.06)

29,678,808.63 (10,007,437.06)

Pa’anga na’e ngaue ‘aki ki he fatongia

‘Inivesimeni (1,453,923.25) (2,877,104.75)

Pa’anga fehu’aki 8,498,856.63 43,092.33

Pa’anga na’e kamata’aki, 1 ‘o Siulai 2005 45,936.02 2,843.69

Pa’anga na’e ‘i he Seifi, 30 ‘o Sune 2006 0.00 0.00

Pa’anga ‘i he ‘osi ‘a e ta’u, 30 ‘o Sune 2006 19a $8,544,792.65 $ 45,936.02

Ko e fakamatala pa’anga ko ‘eni ‘e lau fakataha mo e fakamatala fakaikiiki mo e konga ‘o e

fakamatala pa’anga ‘a ia ‘oku ha atu ‘I he peesi 39 to 51


38

FAKAMATALA KI HE FEHU’AKI ‘A E PA’ANGA ‘A E KAU MEMIPAFAKAMATALA KI HE FEHU’AKI ‘A E PA’ANGA ‘A E KAU MEMIPAFAKAMATALA KI HE FEHU’AKI ‘A E PA’ANGA ‘A E KAU MEMIPAFAKAMATALA KI HE FEHU’AKI ‘A E PA’ANGA ‘A E KAU MEMIPA


Nouti June 2006 June 2005

$ $

Ngaahi Monu’ia Tauhi ki he Ta’u 9,142,682.97 6,426,492.32

Katoa Lilu mei he Pa’anga talifaki (3,639.04) 106,871.17

Katoa Pa’anga Humai mo e fakamole ki he ta’u 9,146,322.01 6,533,363.49

Ngaahi Monu’ia na’e totongi atu (2,428,918.60) (1,892,071.71)

Fehu’aki ‘i he Pa’anga ‘a e Kau Memipa 6,717,403.41 4,641,291.78

Ngaahi Fakatonutonu ki he palanisi kamata 1,235,364.59 (1,694,689.07)

PA’ANGA ‘A E KAU MEMIPA ‘I HE

KAMATA’ANGA ‘O E TA’U FAKAPA’ANGA

49,427,324.73 46,480,722.02


FAKA’OSI ‘O E TA’U FAKAPA’ANGA

$57,380,092.73 $49,427,324.73

FAKAFOFONGA’I ‘E HE: 20

Ngaahi monu’ia ma’ae Kau Memipa 56,543,837.47 48,580,265.54

Ngaahi Monu’ia tufotufa fakakongakonga 0.00 14,442.97

Sino’i Pa’anga Malu’i Mo’ui 9,719.23 3,508.12

Sino’i Pa’anga ‘akinautolu ‘oku ‘ikai Memipa 357,355.06

305,897.64

‘Akauni Talifaki Fakalukufua 190,412.31 196,848.88

‘Akauni Talifaki ki he Femaliuliu’aki ‘o e ‘Inivesimeni

156,060.23 116,791.18

‘Akauni Talifaki ki he Malu’i Mo’ui 122,708.43 209,570.40


FAKA’OSI ‘O E TA’U FAKAPA’ANGA

$57,380,092.73

$49,427,324.73

Ko e fakamatala pa’anga ko ‘eni ‘e lau fakataha mo e fakamatala fakaikiiki mo e konga ‘o e fakamatala pa’anga ‘a ia ‘oku ha atu ‘I he peesi 39 to 51


39

NGAAHI TU’UTU’UNI FAKATAUHITOHINGAAHI TU’UTU’UNI FAKATAUHITOHINGAAHI TU’UTU’UNI FAKATAUHITOHINGAAHI TU’UTU’UNI FAKATAUHITOHI

1. NGAAHI FAKAMATALA KI HE NGAAHI FOUNGA FAKATAUHITOHI

KAUTAHA ‘OKU FAI KI AI ‘A KAUTAHA ‘OKU FAI KI AI ‘A KAUTAHA ‘OKU FAI KI AI ‘A KAUTAHA ‘OKU FAI KI AI ‘A E E E E FAKAMATALA PA’ANGAFAKAMATALA PA’ANGAFAKAMATALA PA’ANGAFAKAMATALA PA’ANGA Ko e ngaahi fakamatala pa’anga ko eni ma’ae Poate ‘o e Sino’i Pa’anga Malolo Mei He Ngaue, ‘a ia na’e fokotu’u ‘i he kupu 3 ‘o e Lao ki he Poate ‘o e Sino’i Pa’anga Malolo Mei He Ngaue 1998. Ko e Poate ‘oku nau pule’i ‘a e Pa’anga Malolo ‘o fakatatau ki he ngaahi tu’utu’uni ‘a e Lao ki he Sino’i Pa’anga Malolo Mei He Ngaue 1998 mo e Lao ki he Poate ‘o e Sino’i Pa’anga Malolo Mei he Ngaue 1998 pea ‘oku nau tokanga’i ‘a hono fakalele mo ‘inivesi ‘o e Sino’i Pa’anga. NGAAHI TU’UTUNI FAKATAUHITOHINGAAHI TU’UTUNI FAKATAUHITOHINGAAHI TU’UTUNI FAKATAUHITOHINGAAHI TU’UTUNI FAKATAUHITOHI Ko e ngaahi fakamatala pa’anga ‘o e Poate na’e teuteu’i ‘o fakatatau ki he fiema’u ‘a e Lao ki he Sino’i Pa’anga Malolo mei he Ngaue 1998 moe Lao ki he Poate ‘o e Sino’i Pa’anga Malolo mei he ngaue 1998 pea mo e ngaahi Tu’utu’uni Fakatauhitohi mo e ngaahi fakamatala ‘oku fiema’u ‘e he Ngaahi Tu’utu’uni Fakatauhitohi ‘o ‘Aositelelia. Ko e ngaahi tu’utu’uni fakatauhitohi ‘oku nau lave’i ‘a e mahuinga ‘a e tu’unga ‘o e Fakamatala Fakahoko Ngaue, Tu’unga Fakapa’anga, Fakamatala ki he Fehu’aki ’a e Pa’anga ’a e Kau Memipa mo e Fakamatala Fehu’aki ‘a e Pa’anga ‘oku nau ha atu ‘i lalo.

a)a)a)a) Tu’unga FuaTu’unga FuaTu’unga FuaTu’unga Fua

Ko e fakamatala pa’anga ni na’e teuteu’i ia ‘o fakatatau mo e tu’utu’uni ke ngaue’aki ‘a e fakahisitolia ‘o e totongi pea’oku ‘ikai kau ai ‘a e feliliuaki ‘o e mahu’inga ‘o e pa’anga. Ko e ngaahi fika kotoa pe ‘oku ‘i he Pa’anga Tonga.

e)e)e)e) InInInInivesimeniivesimeniivesimeniivesimeni

‘Oku fakafofonga’i atu ‘e he ‘Inivesimeni ‘a e Ngaahi ‘Akauni Liliu Tauhi ‘oku tauhi ‘i he Potungaue Pa’anga, pea ‘oku ‘ikai foki ke ne fakaha’i ‘a hono mahu’inga totonu ‘i he Maketi Fakahu Pa’anga. Tipositi Taimipau ‘oku lekooti ‘i hono mahu’inga totonu pe ‘o e ‘aho ko ia.

f)f)f)f) Ngaahi koloa tukupau mo e mahu’inga na’e ngaue’aki ‘i he koloa ko iaNgaahi koloa tukupau mo e mahu’inga na’e ngaue’aki ‘i he koloa ko iaNgaahi koloa tukupau mo e mahu’inga na’e ngaue’aki ‘i he koloa ko iaNgaahi koloa tukupau mo e mahu’inga na’e ngaue’aki ‘i he koloa ko ia

Ko e Ngaahi Koloa Ngaue Tukupau na’e lekooti ia ‘i hono totongi totonu to’o mei ai ‘a e katoa ‘o e mahu’inga na’e ngaue’aki. TTTTu’utu’uni na’au’utu’uni na’au’utu’uni na’au’utu’uni na’a ngaue’akingaue’akingaue’akingaue’aki ki he mahu’inga na’e ngaue’aki ki he mahu’inga na’e ngaue’aki ki he mahu’inga na’e ngaue’aki ki he mahu’inga na’e ngaue’aki

Ko e mahu’inga ‘o e koloa na’e ngaue’aki ‘a e Founga Hangatonu ‘o kamata mei he ‘aho 30 Sune 2005, ‘i he ma hu’inga ‘oku fika’i ‘o vahevahe ‘a e totongi totonu ‘i hono ta’u ngaue’aki fakafuofua. Ko e Ngaahi Koloa Ngaue Tukupau ‘oku ngaue’aki pe ki he mahu’inga holoholo ‘oku noa. Ko e mavahe foki eni mei he Ngaahi Tu’utu’uni Fakatauhitohi ‘o ‘Aositelelia hono 25, kaekehe, ko e Ngaahi Koloa Ngaue ‘oku vakai ma’u pe ke fakapapau’i pe ‘oku lahi ange ‘a e mahu’inga ‘oku holo’aki ‘e he Koloa pe ko hono mahu’inga ka fiema’u ke fakatau. Ofisi:Ofisi:Ofisi:Ofisi: Naunau Faka’ofisi - Ta’u ‘e Nima (5) Me’angaue Faka’ofisi - Ta’u ‘e Hongofulu (10)


40

Ngaahi Saliote MisiniNgaahi Saliote MisiniNgaahi Saliote MisiniNgaahi Saliote Misini:::: Fo’ou - Ta’u ‘e Hongofulu (10) ‘Osi ngaue’aki - Ta’u ‘e Nima (5) KoKoKoKomipiutamipiutamipiutamipiuta:::: Seeva - Ta’u ‘e Nima (5) Komipiuta taautaha & toenga - Ta’u ‘e Tolu (3)

Ko e mahu’inga ‘o e koloa si’isi’i ange he pa’anga ‘e $500.00, ‘oku asi he Fakamatala Fakahoko Ngaue.

g)g)g)g) Founga hono lekooti e ngaahi pa’anga humaiFounga hono lekooti e ngaahi pa’anga humaiFounga hono lekooti e ngaahi pa’anga humaiFounga hono lekooti e ngaahi pa’anga humai

Ko e Pa’anga Tatanaki Humai mei he Memipa mo e Pule Ngaue’anga ‘oku lekooti ‘i he taimi pe na’e ma’u ai.

Ko e taimi ki he ngaahi Pa’anga Tatanaki ‘a e Poate ko e ‘aho 1 Siulai ki he 30 Sune. Ko e Pa’anga Humai mei he ‘Inivesimeni ‘oku lekooti ‘i hono mahu’inga totonu.

Ko e ngaahi Pa’anga humai makehe na’e lekooti pe mo ia ‘i he taimi na’e ma’u ai.

h)h)h)h) Pa’anga tatanaki mo hono fika’iPa’anga tatanaki mo hono fika’iPa’anga tatanaki mo hono fika’iPa’anga tatanaki mo hono fika’i Kuo pau ke tatanaki ‘e he Memipa ‘a e peseti ‘e nima (5%) ‘o makatu’unga ‘i he Vahenga fakata’u ‘o e Memipa ‘a ia ‘oku ne ma’u ‘i he ‘aho Sivi ‘o Siulai, ‘oku ha eni ‘i he fakamatala pa’anga ko e Tefito’i ‘Akauni ‘a e Memipa. Kuo pau ke tatanaki ‘e he Pulengaue’anga ki he Sino’i Pa’anga ha peseti ‘e fitu mo e konga nima (7.5%) ‘o kamata mei 1 Siulai ki he Memipa kotoa pe ‘o makatu’unga ‘i he Vahenga fakata’u ‘o e Memipa ‘a ia ‘oku ne ma’u ‘i he ‘aho Sivi ‘o Siulai, ‘oku ha ‘eni ‘i he fakamatala pa’anga ko e ‘Akauni ‘a e Pule Ngaue’anga. ‘E ngofua ke tatanaki ‘e ha Memipa ha pa’anga ta’ekouna’i ki he’ene ‘Akauni ‘i he tu’unga mo e taimi ‘e fakapapau’i mo fakaha ‘e he Memipa, ‘oku ha ‘eni ‘i he fakamatala pa’anga ko e ‘Akauni Ta’ekouna’i ‘a e Memipa. Ko e ‘Akauni ‘akinautolu ‘oku ‘ikai Memipa ‘oku ne fakamatata’i ‘a e peseti ‘e nima (5%) tatanaki ‘a e kau Ngaue Faka-Pule’anga na’a nau fili ke nau nofo ‘I he Founga Penisoni ‘a e Ngaue Faka-Pule’anga.

i)i)i)i) Ngaahi mo’ua te’eki ma’uNgaahi mo’ua te’eki ma’uNgaahi mo’ua te’eki ma’uNgaahi mo’ua te’eki ma’u

Ko e ngaahi mo’ua te’eki ke ma’u ‘oku ha atu ‘aki ‘a e tu’unga fakafuofua ‘e mau ai.

j)j)j)j) Ngaahi tokoni mo e ngaahi sino’i pa’anga mei he Pule’angaNgaahi tokoni mo e ngaahi sino’i pa’anga mei he Pule’angaNgaahi tokoni mo e ngaahi sino’i pa’anga mei he Pule’angaNgaahi tokoni mo e ngaahi sino’i pa’anga mei he Pule’anga

Na’e ma’u ‘e he Poate ha ngaahi Pa’anga felave’i mo e Poloseki (Poate Sino’i Pa’anga Mälölö Mei he Ngäue) ko ‘eni mei he: Pule’anga ‘Aositelelia ‘i he AUSAID Ngaahi Sino’i Pa’anga mei he Pule Ngäue’anga (Kupu 7(3) ‘o e Lao ki he Sino’i Pa’anga Mälölö mei he Ngäue 1998).


41

k)k)k)k) TukuhauTukuhauTukuhauTukuhau

Ko e Poate ni ‘oku faka’ata ke ‘oua e Tukuhau’i fakatatau ki he kupu 9(1) ‘o e Lao ki he Sino’i Pa’anga Mälölö Mei He Ngäue 1998.

l)l)l)l) Founga ki hono lekooti ‘a e totongi monu’ia ki he malolo mei he ngaue Founga ki hono lekooti ‘a e totongi monu’ia ki he malolo mei he ngaue Founga ki hono lekooti ‘a e totongi monu’ia ki he malolo mei he ngaue Founga ki hono lekooti ‘a e totongi monu’ia ki he malolo mei he ngaue

Ko e Ngaahi Monu’ia Malolo mei he Ngaue ‘oku lekooti ia ‘i he taimi na’e totongi atu ai ki he Kau Memipa mo kinautolu ‘oku ‘ikai Memipa. (Kupu 6 (3) ‘o e Nga’ahi Tu’utuni (Pule’i) ‘o e Sino’i Pa’anga Malolo mei he Ngaue 1998).

m)m)m)m) Totongi malu’i ‘o e kau memipaTotongi malu’i ‘o e kau memipaTotongi malu’i ‘o e kau memipaTotongi malu’i ‘o e kau memipa

Ko e Memipa kotoa pe, ‘oku malu’i mo’ui kinautolu ‘i he founga malu’i mo’ui Fakakulupu.

n)n)n)n) Tu’unga liliu pa’anga muliTu’unga liliu pa’anga muliTu’unga liliu pa’anga muliTu’unga liliu pa’anga muli

Ko e ngaahi fehu’aki fakapa’anga kotoa pe ‘i he pa’anga muli ‘oku liliu pa’anga Tonga ‘i he tu’unga fika ‘o e ‘aho na’e hoko ai.

LILIU ‘I HE NGAAHI TU’UTU’UNI FAKATAUHITOHILILIU ‘I HE NGAAHI TU’UTU’UNI FAKATAUHITOHILILIU ‘I HE NGAAHI TU’UTU’UNI FAKATAUHITOHILILIU ‘I HE NGAAHI TU’UTU’UNI FAKATAUHITOHI Na’e ‘i ai ‘a e liliu ‘i he ngaahi tu’utu’uni fakatauhitohi ‘o felave’i mo e Mahu’inga Ngaue’aki ‘o e Koloa. Na’e tali ‘e he Poate ke ngaue’aki ‘a e Founga Hangatonu ke fetongi ‘a e ‘a e Founga Fakaholo holo ‘aia na’e ngaue’aki talu mei 1999. Ko e liliu ko ‘eni ‘oku ‘ikai tene fu’u uesia ‘a e Fakamatala Pa’anga ki he ‘aho 30 Sune 2005. Ko e ngaahi tu’utu’uni fakatauhitohi kehe na’e ngaue’aki pe ‘i he founga tatau pe.


42

KO E FAKAMATALA FAKAIKIKI MO E KONGA ‘O E FAKAMATALA PA’ANGAKO E FAKAMATALA FAKAIKIKI MO E KONGA ‘O E FAKAMATALA PA’ANGAKO E FAKAMATALA FAKAIKIKI MO E KONGA ‘O E FAKAMATALA PA’ANGAKO E FAKAMATALA FAKAIKIKI MO E KONGA ‘O E FAKAMATALA PA’ANGA


1. 1. 1. 1. Ngaahi Tipositi TaimipauNgaahi Tipositi TaimipauNgaahi Tipositi TaimipauNgaahi Tipositi Taimipau

� Ta’u Fakapa‘anga Ta’u Fakapa‘anga Ta’u Fakapa‘anga Ta’u Fakapa‘anga 2006200620062006

Pangike

Fika ‘o e Setifiketi

Mahu’inga

Totongi Tupu

‘Aho na’e Tipositi ai

Taimi Tipositi (Mahina)

‘Aho ‘oku ma’u ai

151343-3 $3,000,000.00 9.60% 07.12.2005 36 MONTHS 07.12.2008

151508-8 $1,121,291.23 9.65% 20.12.2005 36 MONTHS 20.12.2008

151866-8 $220,000.00 10.20% 20.01.2006 12 MONTHS 20.01.2007

152493-3 $1,100,000.00 10.25% 13.03.2006 12 MONTHS 13.03.2007

152578-8 $400,000.00 10.50%% 22.03.2006 12 MONTHS 22.03.2006

152790-1 $574,038.01 10.95% 18.04.2006 12 MONTHS 18.04.2007

152861-0 $200,000.00 10.95% 27.04.2006 12 MONTHS .27.04.2007

152949-8 $250,000.00 10.95% 08.05.2006 12 MONTHS 08.05.2007

1533528 $400,000.00 10.95% 21.06.2006 30 DAYS 21.07.2006

ANZANZANZANZ

153130-5 $500,000.00 10.95% 26.06.2006 30 DAYS 26.07.2007

$7,765,329.24$7,765,329.24$7,765,329.24$7,765,329.24

2000446720 $1,380,000.00 9.50% 07.11.2005 36 MONTHS 07.11.2008

2000448825 $2,700,000.00 9.60% 16.11.2005 36 MONTHS 16.11.2008

2000456810 $2,503,476.86 9.65% 16.12.2005 36 MONTHS 16.12.2008

2000457719 $2,840,460.02 9.65% 16.12.2005 36 MONTHS 16.12.2008

2000457727 $2,118,000.00 9.65% 16.12.2005 36 MONTHS 16.12.2008

2000455846 $500,000.00 9.65% 21.12.2005 36 MONTHS 21.12.2008

2000459897 $300,000.00 9.75% 13.01.2006 12 MONTHS 13.01.2007

2000478095 $250,000.00 10.55% 05.04.2006 12MONTHS 05.04.2007

2000494597 $825,000.00 10.95% 30.06.2006 7 DAYS 07.07.2006

WestpacWestpacWestpacWestpac Bank ofBank ofBank ofBank of TongaTongaTongaTonga

2000490605 $825,000.00 10.95% 30.06.2006 14 DAYS 14.07.2006

$1$1$1$14444,,,,241241241241,936.88,936.88,936.88,936.88

1229 $150,000.00 9.65% 23.01.2006 235 DAYS 14.09.2006

1261 $810,000.00 9.65% 23.01.2006 612 DAYS 26.09.2007

1319 $926,454.65 9.65% 23.01.2006 640 DAYS 24.10.2007

1331 $415,509.59 9.65% 23.01.2006 647 DAYS 31.10.2007

1341 $560,000.00 9.65% 23.01.2006 657 DAYS 10.11.2007

TongaTongaTongaTonga DevelopmenDevelopmenDevelopmenDevelopmentttt

BankBankBankBank

2171 $2,000,000.00 9.65% 23.01.2006 3 YEARS 22.01.2009

$4,861,964.24$4,861,964.24$4,861,964.24$4,861,964.24

YEAR TOTALYEAR TOTALYEAR TOTALYEAR TOTAL $26,869,230.36 $26,869,230.36 $26,869,230.36 $26,869,230.36


43

� Ta’u Fakapa’anga Ta’u Fakapa’anga Ta’u Fakapa’anga Ta’u Fakapa’anga 2005200520052005 Bank Certificate Principal Interest Deposit Periods Maturity

Number Rate Date (Months) Date 135507-7 $ 300,000.00 7.00% 01.04.2003 36 MONTHS 01.04.2006

138732-7 $ 200,000.00 7.50% 03.10.2003 24 MONTHS 03.10.2005

138955-1 $ 250,000.00 7.60% 17.10.2003 24 MONTHS 17.10.2005

139514-5 $ 300,000.00 7.90% 17.11.2003 36 MONTHS 17.11.2006

M20032000356 $ 400,000.00 7.90% 19.12.2003 3 YEARS 19.12.2006

20042000075 $ 200,000.00 7.95% 07.05.2004 2 YEARS 07.05.2006

20042000085 $ 200,000.00 7.95% 19.05.2004 2 YEARS 19.05.2006

MM20042000115 $ 633,230.08 7.95% 08.06.2004 24 MONTHS 08.06.2006

ANZANZANZANZ 1470656 $ 350,000.00 6.00% 24.02.2005 1 YEAR 24.02.2006

147141-3 $ 100,000.00 6.00% 03.03.2005 12 MONTHS 03.03.2006

147317-0 $ 100,000.00 6.00% 14.03.2005 12 MONTHS 14.03.2006

147561-1 $ 150,000.00 6.25% 01.04.2005 12 MONTHS 01.04.2006

147760-7 $ 150,000.00 6.25% 14.04.2005 12 MONTHS 14.04.2006

147997-7 $ 150,000.00 6.25% 22.04.2005 12 MONTHS 22.04.2006

148206-2 $ 100,000.00 7.00% 06.05.2005 12 MONTHS 06.05.2006

148434-3 $ 200,000.00 7.50% 20.05.2005 12 MONTHS 20.05.2006

148702-6 $ 200,000.00 7.55% 03.06.2005 24 MONTHS 03.06.2007

148905-6 $ 200,000.00 7.75% 17.06.2005 24 MONTHS 17.06.2007

149112-3 $ 600,000.00 8.00% 30.06.2005 24 MONTHS 30.06.2007

$ 4,783,230.08 $ 4,783,230.08 $ 4,783,230.08 $ 4,783,230.08

2000148375 $ 572,629.00 7.75% 07.05.2003 36 MONTHS 07.05.2006

2000164687 $ 350,000.00 7.85% 20.06.2003 36 MONTHS 20.06.2006

2000168209 $ 550,000.00 7.85% 30.06.2003 36 MONTHS 30.06.2006

2000213633 $ 200,000.00 7.85% 01.08.2003 36 MONTHS 01.08.2006

2000232278 $ 200,000.00 7.50% 29.08.2003 24 MONTHS 29.08.2005

2000278875 $ 100,000.00 7.95% 30.12.2003 36 MONTHS 30.12.2006

2000291779 $ 250,000.00 8.00% 30.01.2004 36 MONTHS 30.01.2007

2000306080 $ 200,000.00 8.00% 05.03.2004 36 MONTHS 05.03.2007

Westpac Westpac Westpac Westpac 2000313680 $ 300,000.00 8.00% 02.04.2004 36 MONTHS 02.04.2007

Bank of TongaBank of TongaBank of TongaBank of Tonga 2000327821 $ 600,000.00 8.00% 21.06.2004 36 MONTHS 21.06.2007

2000329652 $ 950,000.00 8.00% 30.06.2004 36 MONTHS 30.06.2007

2000331658 $ 380,000.00 8.00% 12.07.2004 36 MONTHS 12.07.2007

2000332870 $ 110,000.00 8.00% 19.07.2004 36 MONTHS 19.07.2007

2000335865 $ 200,000.00 8.00% 04.08.2004 36 MONTHS 04.08.2007

2000336913 $ 300,000.00 8.00% 09.08.2004 36 MONTHS 09.08.2007

2000337457 $ 350,000.00 8.00% 11.08.2004 36 MONTHS 11.08.2007

2000343125 $ 400,000.00 8.00% 01.09.2004 36 MONTHS 01.09.2007

2000351458 $ 100,000.00 7.00% 07.10.2004 24 MONTHS 07.10.2006

2000362992 $ 200,000.00 7.00% 18.11.2004 36 MONTHS 18.11.2007

2000379632 $ 200,000.00 6.00% 28.01.2005 24 MONTHS 28.01.2007

2000383568 $ 150,000.00 6.00% 15.02.2005 24 MONTHS 15.02.2007

$ 6,6 $ 6,6 $ 6,6 $ 6,662,629.00 62,629.00 62,629.00 62,629.00

469 $ 1,150,000.00 7.50% 03.02.2003 3 YEARS 02.02.2006

509 $ 900,000.00 7.70% 11.03.2003 3 YEARS 10.03.2006

547 $ 550,000.00 7.75% 15.04.2003 3 YEARS 14.04.2006

Tonga Tonga Tonga Tonga 593 $ 450,000.00 7.80% 16.05.2003 3 YEARS 15.05.2006

Development BankDevelopment BankDevelopment BankDevelopment Bank 602 $ 368,481.12 7.80% 26.05.2003 3 YEARS 25.05.2006

1229 $ 150,000.00 7.25% 15.09.2004 2 YEARS 14.09.2006

1261 $ 810,000.00 7.50% 27.09.2004 3 YEARS 26.09.2007

1319 $ 926,454.65 7.25% 25.10.2004 3 YEARS 24.10.2007

1331 $ 415,509.59 7.25% 01.11.2004 3 YEARS 31.10.2007

1341 $ 560,000.00 7.25% 11.11.2004 3 YEARS 10.11.2007

1381 $ 1,150,000.00 6.00% 02.12.2004 12 MONTHS 01.12.2005

1424 $ 1,273,736.82 6.00% 23.12.2004 1 YEAR 22.12.2005

$ 8,704,182.18 $ 8,704,182.18 $ 8,704,182.18 $ 8,704,182.18

YEAR TOTALYEAR TOTALYEAR TOTALYEAR TOTAL $ 20,150,041.26 $ 20,150,041.26 $ 20,150,041.26 $ 20,150,041.26


44

3. 3. 3. 3. Ngaahi ‘akauni liliu tauhi (Pule’anga Tonga)Ngaahi ‘akauni liliu tauhi (Pule’anga Tonga)Ngaahi ‘akauni liliu tauhi (Pule’anga Tonga)Ngaahi ‘akauni liliu tauhi (Pule’anga Tonga)

Oku ne fakamatala’i ‘a e Ngaahi Monu’ia ‘a e Kau Memipa na’e liliu mai mei he Founga Penisoni ‘a e Kau Ngaue Fakapule’anga ‘i he ‘aho 30 ‘o Sune 1999. Ko e ngaahi ‘Akauni ko ‘eni ‘oku te’eki ke totongi mai mei he Pule’anga ‘a ia ‘oku tupu ‘i he taimi tatau ‘aki ‘a e Totongi tupu ko e peseti (%) 6 ‘i he ta’u. (Kupu 2 Ngaahi Tu’utu’uni (Pule’i) ‘o e Sino’i Pa’anga Malolo Mei he Ngaue 1999)

Na’a mau ma’u ‘a e ngaahi akauni Na’Na’a mau ma’u ‘a e ngaahi ‘akauni liliu tauhi ‘e 105 mei Fale Pa’anga talu mei he 30 ‘o Sune 2005. ‘Oku kei ‘i ai pe ‘a e ngaahi ‘akauni ‘oku kei ngaue ki ai ‘a e Fale Pa’anga mo e Komisoni Kau Ngaue-Fakapule’anga.

Kouti Potungaue ‘Akauni Liliu Tauhi

Katoa Totongi Tupu

01 ‘Ofisi Palasi Nil Nil

03 ‘Ofisi Palemia 697,949.21 41,876.95

04 Potungaue Ki Muli Nil Nil

05 Kovana, Ha'apai Nil Nil

06 Kovana, Vava'u Nil Nil

07 Fonua, Savea, mo e Koloa Fakaenatula 688,195.44 41,291.73

09 Potungaue Paaki 165,046.51 9,902.79

10 Fakamaau’anga 409,485.77 24,569.15

11 Polisi 1,918,275.06 115,096.50

12 Potungaue Lao Nil Nil

14 Fakahinohino Lao 1,435,769.92 86,146.20

18 ‘Aotita Nil Nil

19 Ako 6,550,392.96 393,023.58

20 Mo’ui 4,617,129.80 277,027.79

22 Pilisone 377,163.65 22,629.82

23 Ngoue mo e Vaotata 1,104,413.09 66,264.79

24 Toutai 323,610.65 19,416.64

25 Palani Nil Nil

26 Kakai, Fefakatau’aki mo e Ngaue’anga 565,987 33,959.22

27 Ofisi Takimamata 177,621.69 10,657.30

28 Ngaue 840,531.58 50,431.90

29 Fefolau’aki Sivile 544,999.70 32,699.98

30 Malini mo e Ngaahi Taulanga 30,340.55 1,820.43

KATOAKATOAKATOAKATOA 20,446,912.5820,446,912.5820,446,912.5820,446,912.58 1,226,814.771,226,814.771,226,814.771,226,814.77

‘Akauni Liliu Tauhi, 1st Siulai 2005 20,456,117.02 1,701,170.77

(To’o) Fakatonutonu Palanisi Kamata 954,524.31

(To’o)/Plus Akauni Liliu Tauhi na’e ma’u pea totongi atu

1,325,018.96 47,186.86

(To’o) Akauni Liliu Tauhi na’e ma’u te’eki Totongi atu

5,671,355.83

Palanisi Akauni Liliu Tauhi, 30 Sune 2006 $14,414,266.54$14,414,266.54$14,414,266.54$14,414,266.54 $1,748,357.63 $1,748,357.63 $1,748,357.63 $1,748,357.63


45

4. 4. 4. 4. Pa’anga Tatanaki Te’eki Ma’uPa’anga Tatanaki Te’eki Ma’uPa’anga Tatanaki Te’eki Ma’uPa’anga Tatanaki Te’eki Ma’u ‘Oku ne fakamatala’i ‘a e Ngaahi Pa’anga Tatanaki, Tefito’i Akauni, ‘Akauni Ta’ekouna’i moe Pule ngaue’anga ‘i he ‘aho 30 ‘o Sune 2006.

2006200620062006

Tefito’i Akauni ‘a e Memipa Nil

‘Akauni Ta’ekouna’i ‘a e Memipa Nil

Akauni ‘a e Pulengaue’anga Nil

Palanisi 30 ‘o Sune 2006Palanisi 30 ‘o Sune 2006Palanisi 30 ‘o Sune 2006Palanisi 30 ‘o Sune 2006 NilNilNilNil

5. 5. 5. 5. Ngaahi Totongi Tupu Te’eki Ma’uNgaahi Totongi Tupu Te’eki Ma’uNgaahi Totongi Tupu Te’eki Ma’uNgaahi Totongi Tupu Te’eki Ma’u

2006200620062006

Totongi Tupu Teeki Ma’u – Tipositi Taimi Pau 351,229.46

Totongi Tupu te’eki ma’u ‘i he Akauni Liliu Tauhi 7,159,059.16

Palanisi 30 ‘o Sune 2006Palanisi 30 ‘o Sune 2006Palanisi 30 ‘o Sune 2006Palanisi 30 ‘o Sune 2006 $7,510,288.62$7,510,288.62$7,510,288.62$7,510,288.62

6. 6. 6. 6. Ngaahi fakamo’ua KeheNgaahi fakamo’ua KeheNgaahi fakamo’ua KeheNgaahi fakamo’ua Kehe

2006200620062006

Ngaahi Totongi ki mu’a 1,397.73

Palanisi 30 ‘o Sune 2006Palanisi 30 ‘o Sune 2006Palanisi 30 ‘o Sune 2006Palanisi 30 ‘o Sune 2006 $1,397.73$1,397.73$1,397.73$1,397.73

7. 7. 7. 7. NNNNaahi koloa ngaue tukupau mo e mahu’ingaahi koloa ngaue tukupau mo e mahu’ingaahi koloa ngaue tukupau mo e mahu’ingaahi koloa ngaue tukupau mo e mahu’inga na’e nague’akia na’e nague’akia na’e nague’akia na’e nague’aki

Asset ClassAsset ClassAsset ClassAsset Class OfficeOfficeOfficeOffice

Furniture Furniture Furniture Furniture OfficeOfficeOfficeOffice

Equipment Equipment Equipment Equipment Motor Motor Motor Motor vehiclesvehiclesvehiclesvehicles

Computer Computer Computer Computer ServerServerServerServer

Computer Computer Computer Computer OthersOthersOthersOthers TotalTotalTotalTotal

$$$$ $$$$ $$$$ $$$$ $$$$

Original Costs (01/07/2005) 48,199.11 40,392.45 44,933.59 24,893.00 37,679.00 $ 196,097.15 $ 196,097.15 $ 196,097.15 $ 196,097.15

Additional Assets 3,490.22 34,175.38 38,801.32 45,871.83 4,851.42 $ 127,190.17 $ 127,190.17 $ 127,190.17 $ 127,190.17

Disposal Asset - - - 12,046.92 - ----$ 12,046.92 $ 12,046.92 $ 12,046.92 $ 12,046.92

Total CostsTotal CostsTotal CostsTotal Costs $ 51,689.33 $ 51,689.33 $ 51,689.33 $ 51,689.33 $ 74,567.83 $ 74,567.83 $ 74,567.83 $ 74,567.83 $ 71,687.99 $ 71,687.99 $ 71,687.99 $ 71,687.99 $ 70,764.83 $ 70,764.83 $ 70,764.83 $ 70,764.83 $ 42,530.42 $ 42,530.42 $ 42,530.42 $ 42,530.42 $ 311,240.40 $ 311,240.40 $ 311,240.40 $ 311,240.40

Acc. Depreciation (1/07/2005) 25,126.02 13,096.40 38,088.40 20,510.26 22,833.98 $ 119, $ 119, $ 119, $ 119,655.06 655.06 655.06 655.06

Depreciation (2005/2006) 9,714.84 5,133.00 9,992.67 8,765.97 8,112.32 $ 41,718.80 $ 41,718.80 $ 41,718.80 $ 41,718.80

Adjustment - Disposal Assets - 10,411.16 - ----$ 10,411.16 $ 10,411.16 $ 10,411.16 $ 10,411.16

Acc. DepreAcc. DepreAcc. DepreAcc. Depreciation (30/06/2006)ciation (30/06/2006)ciation (30/06/2006)ciation (30/06/2006) $ 34,840.86 $ 34,840.86 $ 34,840.86 $ 34,840.86 $ 18,229.40 $ 18,229.40 $ 18,229.40 $ 18,229.40 $ 37,669.91 $ 37,669.91 $ 37,669.91 $ 37,669.91 $ 29,276.23 $ 29,276.23 $ 29,276.23 $ 29,276.23 $ 30,946.30 $ 30,946.30 $ 30,946.30 $ 30,946.30 $ 150,962.70 $ 150,962.70 $ 150,962.70 $ 150,962.70

Book ValueBook ValueBook ValueBook Value $ 16,848.47 $ 16,848.47 $ 16,848.47 $ 16,848.47 $ 56,338.43 $ 56,338.43 $ 56,338.43 $ 56,338.43 $ 34,018.08 $ 34,018.08 $ 34,018.08 $ 34,018.08 $ 41,488.60 $ 41,488.60 $ 41,488.60 $ 41,488.60 $ 11,584.12 $ 11,584.12 $ 11,584.12 $ 11,584.12 $ 160,277.70 $ 160,277.70 $ 160,277.70 $ 160,277.70


46

8. 8. 8. 8. Sino’i Pa’anga Malu’iSino’i Pa’anga Malu’iSino’i Pa’anga Malu’iSino’i Pa’anga Malu’i Mo’ui Mo’ui Mo’ui Mo’ui

Ko e Sino’i Pa’anga Malu’I Mo’ui na’e fokotu’u ke lekooti ‘a hono pule’i mo e fakalele ‘o e Pa’anga Malu’i Mo’ui.

2006200620062006 Palanisi 1 ‘o Siulai 2005 Nil Tanaki: Pa’anga Humai

Pa’anga Malu’i Mo’ui 220,225.72 Tupu mei he Sieke 294.93 Omai mei he Akauni Talifaki 33,508.12

254,028.77254,028.77254,028.77254,028.77

To’o: Fakamole Totongi ki he Malu’i Mo’ui ‘a e Kau Memipa (244,190.40) Totongi Pangike (119.14) (244,309.54)(244,309.54)(244,309.54)(244,309.54) Palanisi 30 ‘o Sune 2006Palanisi 30 ‘o Sune 2006Palanisi 30 ‘o Sune 2006Palanisi 30 ‘o Sune 2006 $9,719.23$9,719.23$9,719.23$9,719.23

Ko e Sino’i Pa’anga Malu’i Mo’ui ‘oku tauhi ‘i he ANZ Bank Limited cheque account mo e totongi tupu ko e 3.0%.

9. 9. 9. 9. Ngaahi Mo’uaNgaahi Mo’uaNgaahi Mo’uaNgaahi Mo’ua

2006200620062006

Ngaahi Mo’ua ke Totongi atu 33,165.13

Ngaahi Monu’ia Malolo Mei he Ngaue ke totongi atu 4,406.64


10. 10. 10. 10. Ngaahi Tokoni ToloiNgaahi Tokoni ToloiNgaahi Tokoni ToloiNgaahi Tokoni Toloi

2006200620062006

Pule’anga Aositelelia 302.42

‘Ofisi Kominiueli Faka-Sekelitali 11,666.38

Akauni Poate Pule 80,339.52


‘Oku lekooti ‘a e Ngaahi tokoni Toloi ‘aki ‘a e founga Pa’anga Hu-mai.

11. 11. 11. 11. Ngaahi Monu’ia ‘o e Kau MemipaNgaahi Monu’ia ‘o e Kau MemipaNgaahi Monu’ia ‘o e Kau MemipaNgaahi Monu’ia ‘o e Kau Memipa Ko e Ngaahi Monu’ia ‘a e Kau Memipa ‘oku ne fakamatala’i ‘a e fatongia lolotonga ‘o e poate ke totongi atu ki he kau Memipa mo kinautolu ‘oku totonu fkalao ki ai. ‘Oku fika’i ‘eni ‘o ngaue’aki hono mahu’inga lolotonga neongo ‘e toki totongi atu ‘i he kaha’u, koe’uhi ko ‘ene hoko ko e Memipa ‘o e Sino’i Pa’anga Malolo.


47

(a)(a)(a)(a) Tufotufa ‘o e Ngaahi Monu’iaTufotufa ‘o e Ngaahi Monu’iaTufotufa ‘o e Ngaahi Monu’iaTufotufa ‘o e Ngaahi Monu’ia

2006200620062006

Ngaahi Monu’ia ‘oku tufa ki he kau Memipa 56,543,837.47

Ngaahi Monu’ia ‘oku ‘ikai tufa Nil

Ngaahi Monu’ia Tauhi ‘a e Kau Memipa, 30 ‘o Sune 2006 Ngaahi Monu’ia Tauhi ‘a e Kau Memipa, 30 ‘o Sune 2006 Ngaahi Monu’ia Tauhi ‘a e Kau Memipa, 30 ‘o Sune 2006 Ngaahi Monu’ia Tauhi ‘a e Kau Memipa, 30 ‘o Sune 2006 $56,543,837.47$56,543,837.47$56,543,837.47$56,543,837.47

(b)b)b)b) Feliuliu’aki ‘a e Ngaahi Monu’ia ‘o e Kau MemipaFeliuliu’aki ‘a e Ngaahi Monu’ia ‘o e Kau MemipaFeliuliu’aki ‘a e Ngaahi Monu’ia ‘o e Kau MemipaFeliuliu’aki ‘a e Ngaahi Monu’ia ‘o e Kau Memipa

2006200620062006

Ngaahi Monu’ia i he kamata’anga tau fakapa’anga 48,594,708.51

Tanaki: Fakatonutonu ki he Palanisi Kamata 1,234,899.62

Tanaki: Ngaahi Monu’ia Lolotonga ‘o e ta’u 9,143,147.94

(Less): Ngaahi Monu’ia na’e totongi atu lolotonga ‘o e ta’u (2,428,918.60)

Ngaahi Monu’ia Tauhi ‘a e Kau Memipa, 30 ‘o Sune 2006Ngaahi Monu’ia Tauhi ‘a e Kau Memipa, 30 ‘o Sune 2006Ngaahi Monu’ia Tauhi ‘a e Kau Memipa, 30 ‘o Sune 2006Ngaahi Monu’ia Tauhi ‘a e Kau Memipa, 30 ‘o Sune 2006 $56,543,837.47$56,543,837.47$56,543,837.47$56,543,837.47

12. 12. 12. 12. Sino’I Pa’anga Akinautolu ‘oku ‘ikai MemipaSino’I Pa’anga Akinautolu ‘oku ‘ikai MemipaSino’I Pa’anga Akinautolu ‘oku ‘ikai MemipaSino’I Pa’anga Akinautolu ‘oku ‘ikai Memipa Ko e Sino’i Pa’anga ‘akinautolu ‘oku ‘ikai Memipa na’e fokotu’u ke tauhi ai ‘a e pa’anga tatanaki peseta ‘e nima (5%) ‘a e kau ngaue fakapule’anga ‘oku nau kei nofo ‘i he founga pension motu’a, hange ko e fiema’u ‘a e Potungaue Pa’anga.

2006200620062006

Sino’i Pa’anga ‘i he kamata ‘o e ta’u fakapa’anga 305,897.64

To’o: Fakatonutonu ki he Palanisi kamata (260.50)

Tanaki: Sino’i Pa’anga na’e ma’u lolotonga ‘a e ta’u 93,057.48

(Less): Sino’i Pa’anga na’e totongi lolotonga ‘a e ta’u (41,339.56)

Sino’iSino’iSino’iSino’i Pa’anga ‘akinautolu ‘oku ‘ikai Memipa, 30 ‘o Sune Pa’anga ‘akinautolu ‘oku ‘ikai Memipa, 30 ‘o Sune Pa’anga ‘akinautolu ‘oku ‘ikai Memipa, 30 ‘o Sune Pa’anga ‘akinautolu ‘oku ‘ikai Memipa, 30 ‘o Sune 2006200620062006

$357,355.06$357,355.06$357,355.06$357,355.06

Ko e Sino’i Pa’anga ‘akinautolu ‘oku ‘ikai Memipa ‘oku kau fakataha mo e Sino’i Pa’anga ‘a e kau Memipa hono inivesimeni.

13. 13. 13. 13. Ngaahi Akauni TalifakiNgaahi Akauni TalifakiNgaahi Akauni TalifakiNgaahi Akauni Talifaki

(a) Ko e Ngaahi Akauni Talifaki eni na’e liliu mai mei he Fakamatala Fakahoko Ngaue:

2006200620062006

Akauni Talifaki Fakalukufua 58,206.12

Akauni Talifaki ki he Femaliuliu’aki ‘o e Inivesimeni 38,804.08

Sino’i Pa’anga akinautolu ‘oku ‘ikai Memipa 68,060.03

Akauni Talifaki ‘a e Poate Pule 62,114.83

Katoa ‘a e pa’anga na’e liliu mei he Ola ‘o e Fakahoko Katoa ‘a e pa’anga na’e liliu mei he Ola ‘o e Fakahoko Katoa ‘a e pa’anga na’e liliu mei he Ola ‘o e Fakahoko Katoa ‘a e pa’anga na’e liliu mei he Ola ‘o e Fakahoko NgaueNgaueNgaueNgaue

$227,185.06$227,185.06$227,185.06$227,185.06


48

(b) Ko e Ngaahi Akauni Talifaki ‘eni na’e fokotu’u ke lava ‘o liliu ‘a e ngaahi toenga pa’anga ki he Ta’u Fakapa’anga ka hoko:

2006200620062006

Akauni Talifaki Fakalukufua 190,412.31

Akauni Talifaki ki he Femaliuliu’aki ‘o e Inivesimeni 156,060.23

Akauni Talifaki ‘a e Poate Pule 122,708.43


14. 14. 14. 14. Toenga Pa’anga Hu Mai Mei he InivesimeniToenga Pa’anga Hu Mai Mei he InivesimeniToenga Pa’anga Hu Mai Mei he InivesimeniToenga Pa’anga Hu Mai Mei he Inivesimeni

‘Oku fakamatala’i heni ‘a e pa’anga humai mo e ngaahi fakamole ki he Inivesimeni.

2006200620062006

Pa’anga Humai

Pa’anga Tupu mei Inivesimeni: - Pa’anga Tupu – Tipositi taimi Pau 2,019,034.77 - Pa’anga Tupu - Sieke 1,576.94 - Pa’anga Tupu – Akauni Liliu Tauhi 1,748,357.59

3,768,969.303,768,969.303,768,969.303,768,969.30

To’o: Ngaahi Fakamole: - Vahenga (43,115.63) - Totongi Folau (9,288.48) - Totongi ako taimi nounou (2,707.80) - Totongi pangike (1,000.00) (56,111.91)(56,111.91)(56,111.91)(56,111.91) Toenga Pa’anga HuToenga Pa’anga HuToenga Pa’anga HuToenga Pa’anga Hu----mai mei he Inivesimeni 30 ‘o Sune mai mei he Inivesimeni 30 ‘o Sune mai mei he Inivesimeni 30 ‘o Sune mai mei he Inivesimeni 30 ‘o Sune 2006200620062006

$3,712,857.39$3,712,857.39$3,712,857.39$3,712,857.39

15. 15. 15. 15. Akauni ‘a e Poate Pule na’e ma’u mo hono totongiAkauni ‘a e Poate Pule na’e ma’u mo hono totongiAkauni ‘a e Poate Pule na’e ma’u mo hono totongiAkauni ‘a e Poate Pule na’e ma’u mo hono totongi

‘Oku ne fakamatala’i ‘a e toenga palanisi ‘o e Akauni Pule’i ‘o e Poate na’e ma’u fakatatau ki he Kupu 7(3) ‘o e Lao ki he Sino’i Pa’anga Malolo mei he Ngaue ‘a ia ‘oku lekooti ki he ‘uhinga tatau ki he ta’u fakapa’anga ka hoko.

2006200620062006 Pa’anga Pule’i na’e ma’u 192,500.00 To’o Pa’anga Pule’i na’e totongi atu (130,385.17) PaPaPaPalanisi na’e ave ki he Akauni Talifaki ‘a e Poate Pule lanisi na’e ave ki he Akauni Talifaki ‘a e Poate Pule lanisi na’e ave ki he Akauni Talifaki ‘a e Poate Pule lanisi na’e ave ki he Akauni Talifaki ‘a e Poate Pule $62,114.83$62,114.83$62,114.83$62,114.83

16. 16. 16. 16. Ngaahi Pa’anga HuNgaahi Pa’anga HuNgaahi Pa’anga HuNgaahi Pa’anga Hu----mai mo e Ngaahi Fakamole Makehemai mo e Ngaahi Fakamole Makehemai mo e Ngaahi Fakamole Makehemai mo e Ngaahi Fakamole Makehe

‘Oku ne fakamatala’i ‘a e mahu’inga ‘o e ngaahi tokoni mei Tu’apule’anga mo e Pule’anga Tonga ‘a ia ‘oku lekooti ko e pa’anga humai ke fakahoa ki hono ngaahi fakamole, ‘a ia ‘oku na tatau pe, ‘i he vaha’a taimi pau.


49

2006200620062006

Poloseti Fakakomipiuta 117,572.50

Mahu’inga na’e ngaue’aki mei Koloa Ngaue Tukupau 14,567.50


17. 17. 17. 17. Totongi Pule’i ‘a e Kau Totongi Pule’i ‘a e Kau Totongi Pule’i ‘a e Kau Totongi Pule’i ‘a e Kau MemipaMemipaMemipaMemipa

‘Oku ne fakamatala’i ‘a e ngaahi fakamole ki hono pule’i mo hono fakalele ‘o e Sino’i Pa’anga Malolo:

2006200620062006 Vahenga 253,691.17 Ovataimi/Ngaahi Monu’ia 15,478.45 Tatanaki ‘a e Poate Pule 20,291.52 Folau Fakalotofonua & Tu’a pule’anga 34,991.55 Telefoni/Fetuutaki 13,549.40 Totongi Pa’aki/ Sevesi ki he Kau Memipa 4,035.08 Lolo 7,920.13 Monomono & Sevesi ngaahi naunau tukupau 7,132.93 Naunau Faka’ofisi/ fakakomipiuta 19,860.74 ‘Uhila 10,821.59 Totongi ‘Ofisi 51,302.16 Totongi Malu’i 6,478.14 Ako taimi nounou 5,777.69 Totongi memipa 6,146.24 Totongi Pangike 515.41 Fakamole Fakaofisi kehe 306.02 Mahuinga na’e nague’aki ‘i he koloa ngaue tukupau 27,151.48 Ngaahi monu’ia Felave’I mo kinautolu ‘oku fakamalolo’i mei Ngaue (19,507.47)

Palanisi 30 ‘o Sune 2006Palanisi 30 ‘o Sune 2006Palanisi 30 ‘o Sune 2006Palanisi 30 ‘o Sune 2006 $465,942.23 $465,942.23 $465,942.23 $465,942.23

18. 18. 18. 18. Ngaahi totongi Monu’ia ki he Malolo mei he ngaueNgaahi totongi Monu’ia ki he Malolo mei he ngaueNgaahi totongi Monu’ia ki he Malolo mei he ngaueNgaahi totongi Monu’ia ki he Malolo mei he ngaue

‘Oku ne fakamatala’i ‘a e Ngaahi monu’ia ‘oku totongi atu kiate kinautolu kuo tali ken au malolo mei he ngaue Faka-Pule’anga ‘o ‘au mai ki he ‘aho 30 ‘o Sune 2006.

2006200620062006 Akauni Liliu Tauhi 1,414,617.59 Akauni tatanaki 55,950.50 Akauni Totongi tupu 74,550.35

Palanisi 30 ‘o Sune 2006Palanisi 30 ‘o Sune 2006Palanisi 30 ‘o Sune 2006Palanisi 30 ‘o Sune 2006 $$$$1,545,118.441,545,118.441,545,118.441,545,118.44


50

19. 19. 19. 19. Fakamatala ki he Fehu’aki ‘a e Pa’angaFakamatala ki he Fehu’aki ‘a e Pa’angaFakamatala ki he Fehu’aki ‘a e Pa’angaFakamatala ki he Fehu’aki ‘a e Pa’anga (a)(a)(a)(a) FakalFakalFakalFakalelei ‘a e pa’anga ‘ielei ‘a e pa’anga ‘ielei ‘a e pa’anga ‘ielei ‘a e pa’anga ‘i he pangike he pangike he pangike he pangike Fakatatau ki he Fakamatala ki he fehu’aki ‘a e pa’anga ko e pa’anga ‘oku ha atu ‘I he Akauni ‘oku kau ai ‘a e Pa’anga ‘i he seifi mo e akauni sieke ‘i he pangike. Ko e pa’anga ‘i he aho faka’osinga ‘e ta’u fakapa’anga ‘a ia ‘oku ha atu ‘i he Fakamatala ki he Fehu’aki ‘a e Pa’anga ‘oku fakafehoanaki ki he ngaahi akauni ‘i he Fakamatala Pa’anga:

2006200620062006

Pa’anga ‘i he pangike 8,544,792.65

Pa’anga ‘i he seifi Nil

Palanisi 30 ‘o Sune 2006Palanisi 30 ‘o Sune 2006Palanisi 30 ‘o Sune 2006Palanisi 30 ‘o Sune 2006 $8,544,792.65$8,544,792.65$8,544,792.65$8,544,792.65

(b)(b)(b)(b) Fakalelei ‘a e Toenga pa’anga mei he fakahoko ngaue ki he ngaahi monu’ia tauhi ‘e Fakalelei ‘a e Toenga pa’anga mei he fakahoko ngaue ki he ngaahi monu’ia tauhi ‘e Fakalelei ‘a e Toenga pa’anga mei he fakahoko ngaue ki he ngaahi monu’ia tauhi ‘e Fakalelei ‘a e Toenga pa’anga mei he fakahoko ngaue ki he ngaahi monu’ia tauhi ‘e tufotufa ki he Kau Memipatufotufa ki he Kau Memipatufotufa ki he Kau Memipatufotufa ki he Kau Memipa

2006200620062006

Ngaahi Monu’ia ki he ta’u 9,143,147.94 less Ngaahi monu’ia na’e totongi atu (2,428,918.60) less Pa’anga tatanaki ‘a e kau ngaue ‘a e Poate (19,462.37) less Pa’anga Tupu mei he Inivesimeni (5,342,543.10) plus Tupu ‘i he ngaahi mo’ua 96,613.04 plus Akauni Liliu tauhi na’e ma’u 7,028,664.43 plus Holo ‘i he ngaahi mo’ua kehe 1,178,840.42 plus Holo ‘i he penisoni tufotufa 14,442.97 plus Holo ‘i he Pa’anga tatanaki teeki ma’u 0.00 plus Pa’anga na’e liliu ki he pa’anga talifaki 227,185.06 plus Mahu’inga ‘o e Koloa na’e ngaue’aki 27,151.48

Net Cash Provided by Operating ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Provided by Operating Activities $9$9$9$9,925,121.27,925,121.27,925,121.27,925,121.27

20. Ngaahi Fehu’aki ‘a e Pa’anga ‘a e Kau Memipa20. Ngaahi Fehu’aki ‘a e Pa’anga ‘a e Kau Memipa20. Ngaahi Fehu’aki ‘a e Pa’anga ‘a e Kau Memipa20. Ngaahi Fehu’aki ‘a e Pa’anga ‘a e Kau Memipa

‘Oku ne fakamatala’i ‘a e ngaahi fe’unuaki he Sino’i Pa’anga ‘a e kau memipa a ‘o ‘au mai ki he ‘aho 30 ‘o Sune 2006.

Ngaahi Monu’ia Penisoni Sino’I

Pa’anga Sino’I Pa’anga

Akauni talifaki

Akauni talifaki

Akauni Talifaki Kau

Kau Tufotufa Malu’i Akinautolu Fakalukufua Femaliuliu’aki Poate Pa’anga

Memipa Mo’ui ‘ikai Memipa ‘Inivesimeni Pule Kau Memipa

Palanisi Kamata 48,580,265.54 14,442.97 3,508.12 305,897.64

196,848.88 116,791.18

209,570.40 $49,427,324.73

Fehu’aki Fakatonutonu ki he Palanisi Kamata 1,260,362.04 - - (260.50) - - $1,260,101.54

Liliu mei Fakahoko Ngaue - - - 68,060.03 58,206.12 39,269.05 62,114.83 $227,650.03

Liliu mei akauni talifaki (24,997.45) - 30,000.00 24,997.45 - - (30,000.00) -

Ma’u lolotonga ‘o e ta’u 9,142,682.97 - 220,520.65 - - - - $9,363,203.62

Totongi ki he ta’u (2,414,475.63)

(14,442.97)

(244,309.54) (41,339.56)

(64,642.69) -

(118,976.80) (2,898,187.19)

Katoa fehu’aki 7,963,571.93 (14,442.97) 6,211.11 51,457.42

(6,436.57) 39,269.05

(86,861.97) $ 7,952,768.00

Palanisi Faka’osinga Ta’u $ 56,543,837.47 $ - $ 9,719.23 $357,355.06 $190,412.31 $156,060.23 $ 122,708.43

$57,380,092.73


51

22221111. . . . Tefito’i FatongiaTefito’i FatongiaTefito’i FatongiaTefito’i Fatongia Ko e tefito’i fatongia ‘o e Sino’i Pa’anga Malolo ‘i he lolotonga ‘o e ta’u ‘oku kau ai; tatanaki ‘o e pa’anga tatanaki ‘a e Poate, fika’i ‘a e ngaahi monu’ia malolo mei he ngaue ‘i he ngaahi makatu’unga kehekehe hange ko e Fakafalemahaki, Pekia, Malolo fakataimi mo e tuku atu ki mu’a pea mo e taimi kuo ausia ai ‘a e ta’u kuo ata ai ke malolo mei he ngaue. ‘Oku pule’i foki mo hono fakalele ‘o e Sino’i Pa’anga Malu’i Mo’ui mo e Sino’i Pa’anga akinautolu ‘oku ikai memipa.

22222222. . . . Ngaahi Ngaue na’e hoko hili ‘a e ta’u fakapa’angaNgaahi Ngaue na’e hoko hili ‘a e ta’u fakapa’angaNgaahi Ngaue na’e hoko hili ‘a e ta’u fakapa’angaNgaahi Ngaue na’e hoko hili ‘a e ta’u fakapa’anga Ko e toko 818 na’e nau tali ‘a e polokalama tamate’i ‘o e lakanga ngaue ‘a e Pulengaue’anga ‘i he ‘aho 30 ‘o Sune 2006. Na’e hanga ‘e he Sino’i Pa’anga ‘o fika’i ‘a e ngaahi monu’ia malolo ko eni ‘oku ofi ‘i he $13.2 miliona ke ‘atita’i mo totongi atu foki ‘i he mahina ko Siulai & ‘Aokosi 2006.

Documents

Annual Report 2006 - FINAL · Retirement Fund Board ANNUAL REPORT 2005/2006 3 FFFFINANCIAL HHHHIGHLIGHTS 2005/20062005/2006 2004/052004/052004/05 2005/06 2005/06 2005/06 $$$$ $ $