2013
April1,2012–March31,2013
STATISTICAL INSTITUTE
OF JAMAICA
ANNUAL REPORT
and
Statement of Accounts
A Review of Operations
APRIL 1, 2012 - MARCH 31, 2013
Copyright © THE STATISTICAL INSTITUTE OF JAMAICA 2013
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TABLE OFCONTENTS
CHAIRMAN’S REPORT
DIRECTOR’S REPORT ....................................................................................................................... 1
OPERATIONS REVIEW...................................................................................................................... 2
PERFORMANCE HIGHLIGHTS .......................................................................................................... 4
DEMOGRAPHIC AND SOCIAL STATISTICS ........................................................................................ 4
2011 Population and Housing Census Highlights ........................................................................ 4
Demographic Statistics ................................................................................................................ 5
Labour Force ................................................................................................................................ 6
SPECIAL PROJECTS........................................................................................................................... 8
Multiple Indicators Cluster Survey 4 (MICS4) ............................................................................. 8
ECONOMIC STATISTICS
Employment and Earnings in Large Establishments ................................................................... 8
Implementation of the 2008 System of National Accounts (SNA 2008) ................................... 10
Trade in Services........................................................................................................................ 10
Indices and Price Analyses ........................................................................................................ 10
Consumer Price Index ............................................................................................................ 10
Producer Price Index (PPI) ..................................................................................................... 11
International Merchandise Trade Statistics .............................................................................. 12
International Comparison Price project (ICP) ........................................................................... 13
ENVIRONMENT & MULTI-DOMAIN STATISTICS
Environment Statistics............................................................................................................... 13
Information and Communication Technology (ICT) Statistics .................................................. 14
RESEARCH & METHODOLOGY
Revision of the Jamaica Standard Classification of Occupations (JSOC) ................................... 15
Sampling Programme ................................................................................................................ 16
Subscription to the Special Data Dissemination Standard........................................................ 16
SUPPORT SERVICES
OFFICE OF THE DIRECTOR GENERAL ............................................................................................. 18
Amendment of the Statistics Act .............................................................................................. 18
Development of the National Statistics System ........................................................................ 18
Group Health Insurance ............................................................................................................ 20
INFORMATION AND TECHNOLOGY............................................................................................... 21
Electronic Data Collection (eDaCS) ........................................................................................... 22
DIRECTORS COMPENSATION ........................................................................................................ 23
FINANCIAL SUMMARY .................................................................................................................. 25
FINANCIAL STATEMENTS
CHAIRMAN’S REPORT
During the fiscal year 2012/2013, the Statistical Institute of Jamaica (STATIN) continued its
effort to fulfill its mission “to provide relevant, timely and accurate statistical information and
technical services, consistent with international standards, to national and international
clients.” Despite budgetary constraints and increased demand for statistics, the regular
programme of work was completed through hard work and dedication of all staff, and
continued interface with our local and international stakeholders.
With the strategic goal of continuous modernisation a major point of focus, the Institute
embarked on a major technological advancement with the implementation of its electronic
data collection system, eDaCS in January 2013. The eDaCS Project was developed in-house in
response to the need to reengineer the data collection process and introduce a more efficient
and environmentally friendly method of collecting and storing survey data. This modernized
approach will improve the quality, accuracy and timeliness of delivering data and statistical
information to our stakeholders, develop the skills set of the field staff through training and the
use of technology, and reduce costs associated with the use of paper, thereby enabling a
greener environment.
The first report of the Population and Housing Census 2011, the General Report (Volume 1) was
also released during the year. This was done during a launch on Wednesday, October 17, 2012
at the Wyndham Hotel, Kingston and formed part of STATIN’s annual celebration of Statistics
week.
The following activities were also achieved as part of STATIN’s regular programme of work:
ƒ Data collection, processing, analysis and publication of reports on economic, labour
market & earnings, social and environment statistics;
ƒ Administering of statistical capacity needs assessment to various entities in the public
sector as part of the development of the National Statistics System, a project funded by
the United Nations Development Program (UNDP);
ƒ Continued development of a Producer Price Index for the Agricultural Sector;
ƒ Measurement of indicators for Information and Communication Technology (ICT)
Statistics;
ƒ Revision of the Jamaica Standard Occupational Classification (JSOC).
The Annual Statistical Reports on the main statistical themes that constitute our regular
programmes of work were completed on schedule and were tabled at the start of the Budget
Debate in the House of Representatives in April 2013.
On behalf of the Board of Directors, Management Team and members of staff I would like to
express appreciation to Ms Sonia Jackson who demitted office as Director General at the end of
March 2013. Ms Jackson served the Institute for 12 years. During her tenure, the Institute
began undergoing a process of modernization of its operations. Focus was placed on
streamlining operations, and developing the technological resources required to provide critical
support to the accomplishment of the Institute’s work programme. She led the process on the
development of the national statistical system and the review of the Statistics Act
I extend heart-felt appreciation to the Board of Directors, Management Team, members of
staff, and stakeholders who continue to support STATIN in achieving its mission.
Professor Alvin G. Wint
Chairman
Board of Directors
June 2013
DIRECTOR’S REPORT
Members of the Board
The members of the Board of Directors during the period under review were as follows:
ƒ
Professor Alvin Wint
(Chairman)- Professor of International Business,
University of the West Indies
ƒ
Mrs. Myrtle Halsall
Economist; Deputy Governor, Research & Economic
Programming and Banking & Market Operations Division, Bank
of Jamaica
•
Mr. Everton McFarlane
Acting Director General, PIOJ
•
Mr. Courtney Williams
Senior Director, Fiscal Policy Management, Ministry of Finance
and Planning
ƒ
Mr. Keith Collister
Director, Special Projects, Sandals Resorts
ƒ
Dr. Joy Moncrieffe
Social Statistics Consultant
ƒ
Ms. Sonia Jackson
Director General, Statistical Institute of Jamaica
OPERATIONS REVIEW
Strategic Plan 2012-2017
During the period under review, the five-year Strategic Plan 2012-2017 was developed as a
roadmap for the continuation of the process of modernization which began in 2002, and
highlights “the way forward” in providing statistics for the development of our nation.
The strategic objectives were developed based on the following thematic areas:
ƒ Legal Framework
ƒ Operational Efficiencies
ƒ Service Culture
ƒ Statistical Programmes and Services
ƒ Information and Communication Technology
ƒ Funding and Sustainability
Business Continuity Planning and Statistical Risk Management were two new areas of work that
were introduced in the Strategic Plan, given the continued effects of the economic crisis facing
our country, the imminent changes to the size and structure of the public sector, the expansion
of new products and the modernisation of technology.
Electronic Data Collection System (eDaCS)
eDaCS was developed in-house by the Information and Technology Division using the Microsoft
Dot Net Framework. The system uses HP Slate 2 tablet computers as the primary device to
collect data. During the first phase of the project, three modules were developed for the
collection of data for three of STATIN’s core survey products: the Consumer Price Indices (CPI);
Producer Price Indices (PPI); and the Labour Force Survey (LFS). Modules for the Survey of
Living Conditions (SLC), the Household Expenditure Survey (HES), and other non-routine surveys
are expected to be developed and implemented during the second phase.
Over 200 staff members attended the training sessions which were conducted during the
period November 19, 2012 - December 7, 2012. On, Tuesday, January 15, 2013, the launch of
the Institute’s Electronic Data Collection System (eDaCs) was held at the Knutsford Court Hotel.
The guest speaker was the junior Minister in the Ministry of Science, Technology, and Energy
and Mining (MSTEM), the Honourable Julian Robinson.
A presentation made at the United Nations Statistics Meeting in New York in February 2013
sparked interests from many countries and International Donors such as the World Bank and
the IMF.
Table 1 shows statistical highlights for the areas of work completed during the calendar year
2012 compared to the results from the previous calendar year, 2011.
2
Table 1. STATISTICAL HIGHLIGHTS 2012
Category
Population End of Year
Births
Deaths
Migration
Labour Force (October)
Unemployed Labour Force
Males (41%)
Females (59%)
Unemployment rate (%)
Males
Females
Employed Labour Force
Males (57%)
Females (43%)
Comparative Results
2012
2011
2,711,476
2,704,133
39,348
39,673
16,998
16,926
-15,000
-14,488
1,261,100
1,248,500
172,900
70,400
102,500
159,600
65,100
94,500
13,7
10.2
17.9
12.8
9.4
16.9
1,088,200
617,600
470,600
1,088,900
624,500
464,400
11,100
9,100
Underemployed Persons
Gross Domestic Product
J$M
729,875
J$M
732,388
Merchandise Trade
- Total Imports
- Total Exports
- Trade Deficit
Traditional Domestic
Exports
Non-traditional Domestic
Exports
Consumer Price Index
- All Jamaica ‘All Divisions’
- Greater Kingston
Metropolitan Area
- Other Urban Areas
- Rural Areas
US$M
6,594.
1,709.8
4,885.1
813.8
828.3
US$M
6,439.4
1,622.4
4,817.0
860.5
674.7
Producer Price Index
Mining & Quarrying
Manufacturing
% change
8.0
10.0
% change
6.0
7.0
6,9
6.9
5.6
5.5
% change
5.3
4.7
% change
3.5
8.5
Comments
At the end of 2012 the Jamaican population was estimated at
2,711,476 compared to 2,704,133 the previous year.
There was a 1.0 per cent increase in the Labour Force in October
2012 compared to October 2011, with 55 per cent being males
and 45 per cent being females.
The number of unemployed persons increased by 8.3 per cent in
2012 compared to 2011.
The unemployment rate increased marginally by 0.9 per cent in
October 2012. The job seeking rate was 9.2 per cent compared
to 8.0 per cent in 2011.
There was no significant change in the number of employed
persons between October 2012 and October2011. Employment
among males fell by 6,900 while that among females grew by
6,200.
The number of underemployed persons grew by 2,000 in
October 2012 when compared to October 2011.
Preliminary estimates for the 2012 calendar year showed a 0.3
per cent
decline in the Jamaican economy when compared to the
previous year
Total value of merchandise imports between Jamaica and its
trading partners for the calendar year 2012 grew by 2.4 per cent
when compared to 2011. Earnings from total exports increased
by 5.4 per cent. This resulted in a 1.4 per cent deterioration in
the trade deficit.
Headline inflation for the calendar year 2012 increased by 8.0
per cent. This was 2.0 percentage points higher than the 6.0 per
cent rate for 2011
For the period January to December 2012 output prices for
producers within the Mining and Quarrying industry rose by 5.3
per cent while that in the Manufacturing industry rose by 4.7 per
cent.
3
PERFORMANCE HIGHLIGHTS
DEMOGRAPHIC AND SOCIAL STATISTICS
2011 Population and Housing Census Highlights
One of the major highlights for the year was the release of the findings from the Population and
Housing Census 2011. This was launched on October 17, 2012 at the Wyndham Hotel, New
Kingston by the Minister without Portfolio, Ministry of Finance and Planning, Honourable
Horace Dalley. The publication, “Population and Housing Census 2011 Jamaica General Report
Volume I”, presented findings on the key variables from the census. This included topics such as
age, sex, marital status, ethnicity, religion and housing. The first of the subject reports, Volume
2 Age and Sex was also released during the period. A presentation of the Census Findings for
rural areas was held at the Golf View Hotel in Mandeville, Thursday, December 12, 2012.
The count of the population based on the 2011 Census was 2,697,983 and this was a 3.5 per
cent increase over the 2,607,632 count in the 2001 Census. This increase represented an
average annual growth rate of 0.36 per cent since 2001 and continued the reduction in annual
rates of growth observed since the 1970s.
Population change must be interpreted within the context of the three components of
population change: births, deaths and migration, events which add or take away from the
population. The components of the increase between 2001 and 2011 for Jamaica were
additions of 438,318 from births and losses of 347,967 from deaths and migration. The very low
rate of growth of 0.36 per cent was only the second time since census taking began in the late
nineteenth century that rates have been this low. The previous period was between 1911 and
1921, and the low rate at that time was attributable to the high levels of migration. Recent low
rates are directly attributable to declining numbers of births. Birth rates have fallen from an
average of 24.2 per 1000 between 1991 and 2001 to 17.4 per 1000 between 2001 and 2011. At
the same time there has been a small upturn in death rates from 6.4 between 1991 and 2001 to
7.1 in the most recent period. While additions to the population from natural increase (the
difference between births and deaths) amounted to approximately 259,000 between 2001 and
2011, migration levels have remained high. Net migration of 168,700 over the period reduced
the natural increment by approximately 65 per cent
A comparison of the 2001 and 2011 censuses showed that the male population grew faster
(4%) than the female population (3%). The excess of women over men fell from 40,538 in 2001
to 28,917 in 2011. This reflected an increase in the sex ratio of 96.9 per 100 in 2001 to 97.9 in
2011.
Another feature highlighted by the Census was the ageing of the Jamaican population.
Population ageing is seen as the increasing proportion of older people within an overall
population structure. Table 2 below summarises the age structure by broad age groups.
4
Table 2. Distribution of the Population for Specific Age Groups:
Censuses 2001 and 2011
2011
Age Group
Under 15 years
Under 4 years
15–29 years
15–44 years
45–64 years
65 years & over
Number
702,834
209,871
751,489
1,294,662
482,142
218,344
2001
%
26.05
7.78
27.85
47.99
17.87
8.09
Number
838,672
273,192
676,669
1,216,088
352,861
200,013
Change 2001–2011
%
32.16
10.48
25.95
46.64
13.53
7.67
Number
%
–135,838
–63,321
75,180
81,214
127,379
17,594
–16.20
–23.18
11.06
6.46
36.64
9.16
St Catherine was the fastest growing parish between 2001 and 2011. It grew by seven per cent,
representing an annual rate of 0.72 per cent, and doubling the national rate of 0.36 per cent. It
was followed by St James which grew by five per cent. St Thomas and Portland which were the
slowest growing parishes experienced population increases of two per cent each. The parish of
Kingston remained the only parish which experienced a decline in population.
Demographic Statistics
The Demographic Statistics Report 2012 was published at the end of the 2012/2013 fiscal year.
The report presented estimates of the population size, distribution and composition along with
the annual statistics on births and deaths obtained from the administrative records of the
Registrar General’s Department (RGD) and the estimates of migration derived from the various
available sources including the Passport, Immigration and Citizenship Agency (PICA). Statistics
on family planning, marriages and divorces obtained from the administrative records of the
National Family Planning Board (NFPB) and the Supreme Court respectively were also reported.
Mortality analysis continues to face challenges of under-coverage mainly because of the high
percentage of sudden and violent deaths which are the subject of coroners’ inquests. In recent
years with efforts by the stakeholders through the work of the Vital Statistics Commission there
has been a greater realization by the agencies involved of the need to account for all deaths
whether registered or not. As a result the Registrar General’s Department has, since 2005,
established a relationship with the Police whereby information on sudden deaths is provided on
a regular basis. The estimation of migration statistics has also been challenging as STATIN no
longer has access to the arrival immigration cards. Efforts are being made to have access to the
electronic data on arrivals and departures that are captured by PICA.
The estimates of population in The Demographic Statistics 2012 were the first in the series to
be based on data from the Population and Housing Census 2011. The Jamaican population at
the end of 2012 was estimated at 2,711,476; of this total there were 1,341,700 males and
1,369,776 females. The 39,348 births which occurred and 16,998 deaths resulted in a natural
5
increase of 22,350. The absolute increase to the population between the end of 2011 and 2012
was 8,804. Net migration was estimated at 15,000.
Labour Force
The Labour Force Survey provides data on the size and other characteristics of the economically
active as well as the economically in-active population of Jamaica. The survey covers the
population aged 14 years and over who are living in private households in all the parishes of
Jamaica. Excluded from the survey are persons living in institutions such as hospitals, homes for
the aged, prisons and military barracks. The objectives of the survey are to determine the level
and rate of employment and unemployment; provide data on the structure of the working
population and persons who are outside the labour force; and determine the participation rate
of different sub-groups of the labour force.
During the 2012/2013 fiscal year, four labour force surveys were conducted in April, July and
October 2012 and January 2013. The January 2013 labour force survey was executed utilizing
the Electronic Data Collection System (eDaCS). Thus, for the first time, data collection for the
Labour Force survey was collected electronically instead of with paper questionnaires.
The Jamaican Labour Force stood at 1,261,100 in October 2012, an increase of 12,600 persons
(1.0%) over the 1,248,500 in October 2011. The movement between July and October 2012 was
a marginal increase of 5,100 persons (0.4%).
Employment
There were 1,088,200 employed persons in October 2012, no significant change from the
1,088,900 persons employed in October 2011. However, when compared with the 1,094,700
persons who were employed in July 2012 there was a marginal decrease of 6,500 (0.6%).
When analyzed by gender, employment among males declined by 6,900 between October
2011, (624,500) and October 2012 (617,600). However there was an increase in employment
among females of 6,200 during the same period.
Employment in the Industry Group ‘Agriculture, Hunting, Forestry & Fishing’ increased by 9,400
(4.9%) between October 2011 (191,000) and October 2012 (200,400). During the same period
employment in ‘Construction’ decreased by 12,100 persons (13.3%).
The Occupation Group ‘Elementary Occupations’ showed increased employment of 15,600
persons (12.1%) between October 2011 and October 2012. ‘Craft & Related Trades Workers’
declined by 21,000 (13.7%) during the same period.
6
Figure 1 shows the Employed Males by Occupation Group in October 2012
Unemployment
In October 2012, there were 172,900 unemployed persons, an increase of 13,300 (8.3%) over
the 159,600 in October 2011. In July 2012 the number of unemployed persons was 161,300.
The Unemployment Rate of 13.7 per cent in October 2012 was an increase of 0.9 of a
percentage point compared with 12.8 per cent in October 2011. In July 2012 the rate was also
12.8 per cent.
The unemployment rate among youths (14-24 years) was 35.3 per cent in October 2012, up by
4.2 percentage points from 31.1 in October 2011. In July 2012 the rate was 32.2 per cent.
Persons outside the Labour Force numbered 750,300 in October 2012 down from 760,700 in
October 2011, a decrease of 1.4 per cent. In July 2012, 754,700 persons were outside the
labour force.
Unemployment Rates by Age Group showed that unemployment rates increased in the younger
age groups between October 2011 and October 2012. The rate for the 14-19 years moved from
45.9 per cent to 47.7 per cent in October 2012; 20-24 years from 27.4 per cent to 32.2 percent
and 25-34 years from 13.5 to 15.4 per cent. The older age groups showed little change over the
twelve-month period.
Underemployment (Time Related) occurs when employed persons would like to work more
hours, at the prevailing wage rates, than they actually work and are actively seeking and
available to work those additional hours. Therefore, in order to be classified as underemployed,
on must have worked less than 35 hours per week in the reference period, be available to work
additional hours and looking for additional hours of work.
7
The number of persons classified as underemployed in October 2012 was 11,100 which were
2,000 more than the 9,100 in October 2011. Underemployment was highest in July 2012
(13,600) and lowest in January 2012 (7,000). In October 2012, 57 per cent of the
underemployed were males and 43 per cent were females. The corresponding proportions in
October 2011 were 54 per cent for males and 46 per cent for females.
SPECIAL PROJECTS
Multiple Indicators Cluster Survey 4 (MICS4)
The Multiple Indicator Cluster Survey (MICS) is a household survey programme developed by
United Nations Children Fund (UNICEF) to assist countries to fill gaps in data for monitoring the
situation of children and women. In 2011, UNICEF supported the fourth round of this survey,
MICS4. The findings from the MICS have enabled many countries to produce statistically sound
and internationally comparable estimates of a range of indicators related to health, education,
child protection, and HIV and AIDS. MICS findings have been used extensively as a basis for
policy decisions and programme interventions. They also assist in influencing public opinion on
the situation of children and women around the world.
The Multiple Indicator Cluster Survey Report was completed and sent to the clients.
ECONOMIC STATISTICS
Employment and Earnings in Large Establishments
The Employment, Earnings and Hours Worked in Large Establishments Report provides
information on employment, earnings and hours worked in all sectors of the economy, with the
exception of agriculture, government, the free zones and private educational institutions. Data
are collected each quarter from large establishments selected from the Central Register of
Establishments based on their employment size and major economic activity.
In 2012, the average estimated employment in large establishments was 170,492 or 0.4 per
cent lower than the previous year’s (2011) figure of 171,129. Lower employment levels were
recorded in the Mining, Trade, Hotel & Restaurants and Transport, Storage & Communication
industries. Average earnings of all employees (salaried and wage employees) in large
establishments was $18,113, a 2.2 per cent increase over the 2011 average estimates of
$17,715. The average weekly earnings of wage earners however fell by 4.0 per cent in 2012
when compared to 2011. It moved from $10,862 in 2011 to $10,596 in 2012.
8
National Accounts
Estimates of national accounts provide a comprehensive measurement of economic activity in a
country. When such measurements are compared with corresponding periods, they provide
valuable indicators of how the economy has performed in relation to the stated policy
objectives. During the fiscal year 2012/2013 annual national accounts estimates on the
Jamaican economy was released in the 2011 National Income and Product Report. Four
quarterly Gross Domestics Product reports were also published during the year presenting
gross domestic product at current and constant prices. The fourth quarter 2012 report included
preliminary annual GDP estimates at both current and constant prices.
Preliminary estimates for the 2012 calendar year showed a 0.3 per cent decline in the economy
when compared to the previous year. This reduction was largely attributed to the challenges in
the macroeconomic environment as well as unfavourable weather conditions during the latter
part of the year. Among the factors that constrained aggregate demand within the economy
were the uncertainties surrounding the IMF agreement, exchange rate depreciation and
increased fuel prices.
The following table shows the annual rate of growth of value added by industry at constant
prices for the period 2008 to 2012.
Annual Rate of Growth of Value Added by Industry at Constant Prices
Industries
% change
Agriculture, Forestry & Fishing
Mining & Quarrying
Manufacture
Construction
Electricity & Water Supply
Wholesale & Retail Trade; Repairs; Installation
of Machinery & Equipment
Hotels & Restaurants
Transport, Storage & Communication
Finance & Insurance Services
Real Estate, Renting & Business Activities
Producers of Government Services
Other Services
Less Financial Intermediation Services Indirectly
Measured (FISIM)
Total
2008
2009
2010
2011
2012
-6.2
-2.7
-0.5
-7.6
0.9
-0.5
14.5
-50.4
-4.8
-8.7
2.2
-3.7
-0.3
-4.2
-3.8
-1.3
-4.3
-3.8
9.8
19.4
1.8
0.8
1.6
0.5
2.6
-9.1
-0.7
-3.8
-0.3
0.4
2.1
-3.1
2
1.4
0.1
1
-3.8
2
-3.5
2.3
-1.2
-0.3
0.5
5
3.4
-2.7
-4.4
-1
0.3
-0.9
-12.9
2
-1.9
-0.5
-0.4
0.1
-0.5
-3.1
1.8
-1.6
0.7
-0.3
-0.5
0
-1.8
-0.8
-3.5
-1.5
1.3
-0.3
9
Implementation of the 2008 System of National Accounts (SNA 2008)
The United Nations Statistics Division (UNSD), in collaboration with the Economic Commission
for Latin America and the Caribbean (ECLAC) and Caribbean Community (CARICOM) secretariat
organised a seminar on Developing a Programme for the Implementation of the 2008 SNA and
Supporting Statistics for CARICOM Countries from 28 January – 1 February 2013. This seminar
was part of the UNSD's implementation programme for the System of National Accounts 2008
(2008 SNA) and supporting statistics and represents a global statistical initiative, which was
mandated by the Statistical Commission at its fortieth session.
This seminar was organised in two segments; national and regional and is part of the technical
assistance provided by the UNSD to enhance statistical capacity building in the region to
alleviate the difficulties faced by countries in the implementation of some recommendations of
the 2008 SNA. Jamaica is expected to produce its first set of GDP estimates based on the SNA
2008 during the fiscal year 2015/2016.
Trade in Services
The need for data on Trade in Services has become critical given the introduction of the
CARICOM Single Market and Economy (CSME) as well as ongoing international trade
negotiations. The Institute has embarked on a joint programme with the Bank of Jamaica to
produce statistics on Foreign Direct Investment (FDI) and Foreign Affiliate Trade in Services
(FATS). To this end a Statistician was employed to start working on this critical area. The
development and production of the first set of statistics is expected after three years.
Indices and Price Analyses
Consumer Price Index
The Consumer Price Index (CPI) measures the changes in the general level of prices of consumer
goods and services purchased by private households. The CPI is consistently viewed as the most
commonly used indicator for the rate of change in headline inflation in Jamaica.
This index number assists individuals with having a better understanding of business and
economic conditions, as the CPI reflects the movement of the prices they pay when they
purchase consumer goods and services. The data are largely used for the settlement of
personal injury awards, wage and contract negotiations and in trend analyses both locally and
internationally. The price data also allows for international price comparisons to enable the
purchasing power parity of the Jamaican Dollar to be looked at vis-à-vis other currencies.
During this fiscal year, the work programme continued to be the compilation of the Consumer
Price Index (Low/Middle Income) based on the ‘basket’ of goods and services compiled from
the Household Expenditure Survey conducted June 2004 to March 2005. This CPI series has a
price and weight reference base period of December 2006.
10
Twelve (12) Monthly Consumer Price Index Bulletins and the 2012 Annual Review were
published for the fiscal year 2012/2013 The inflation rate for the fiscal year as at March 2013,
rose by 9.1 per cent, an increase of 1.8 percentage points when compared to the 7.3 per cent
for the corresponding period in the previous year.
The 2012 calendar year headline inflation rate was 8.0 per cent and was the second consecutive
single-digit headline rate since the start of the 2007 series. This reflected an increase of 2.0
percentage points above the 6.0 per cent that was recorded for the 2011 calendar year. The
mean annual index for the year 2012 was 6.9 per cent higher than that recorded for 2011.
The variables influencing the 2012 inflation rate were: the Government of Jamaica’s tax
package; depreciation of the local currency vis-a-vis the US dollar; adverse weather conditions
locally and overseas; petroleum prices and the change in the national minimum wage.
Producer Price Index (PPI)
The Producer Price Index (PPI) is another measure of inflation. This index shows the average
change over time in the selling prices received by domestic producers of goods and services. It
measures price changes from the perspective of the producer, while the CPI measures price
changes from the purchaser’s perspective.
The two industries currently covered in the compilation and publication of the PPI are Mining
and Quarrying and Manufacturing. The development of the index for a third industry,
Agriculture, Forestry and Fishing by the Research, Design and Evaluation Division continued
throughout the period. The Indices and Price Analyses Unit continued to work in close
collaboration with that Division in the development of this index.
Work continued on the revision of the PPI for Mining and Manufacturing and this will be
completed in 2013. The revision process includes the changing of the base period from 2005 to
2008; the use of the new Jamaica Industrial Classification (JIC): moving from JIC 1987 to JIC
2005; the revision of weights at all levels, based on the revision of the National Accounts and
the change in the sample of establishments being surveyed.
Twelve (12) Monthly Bulletins were published with a two month lag for this fiscal year. The
December Bulletin was a special report with annual data for 2012.
Output prices for producers within the Mining and Quarrying industry rose by 5.3 per cent for
the period January to December 2012. This largely resulted from the 5.2 per cent rise in the index
for major group ’Bauxite Mining & Alumina Processing’. This was mainly impacted by fluctuations
in the Jamaican dollar vis-à-vis the United States dollar. For the period January to December
2012 the Producer Price Index for the Manufacturing industry rose by 4.7 per cent. The main
factors affecting the industry’s movement were the depreciation of the Jamaican dollar vis-à-vis
the United States dollar and fluctuating world oil prices. In addition; increases in the cost of
11
wheat, corn, soya, packaging materials and increased overhead costs contributed to the
movement in this industry’s index.
The mean annual change in the index for 2012 when compared with 2011 showed an increase
of 1.6 per cent for the Mining & Quarrying industry and an upward movement of 7.2 per cent
for the Manufacturing industry.
International Merchandise Trade Statistics
The administrative records from the Customs Department are the major source of data for the
compilation of the International Merchandise Trade Statistics. Data are also collected from
major importers and exporters to supplement this data and ensure better coverage. The
statistics are used for economic planning; development of trade policy; market analysis; and
market monitoring, for example, in the agriculture and energy sectors.
During the fiscal year 2012/2013, efforts continued in improving the coverage as well as the
timeliness of the statistics published. Statistics are produced in the publication International
Merchandise Trade Statistics. Data are also available at the detailed commodity level by
volume, value and country of origin/destination on an annual basis. Twelve monthly
International Merchandise Trade bulletins were produced. Work continued on the conversion
of Imports Cost Insurance & Freight (CIF) to Imports FOB (Free on Board) and the compilation of
trade indices using the unit value approach.
Discussions continued with Jamaica Customs and various consultants, including Fiscal Services
Ltd regarding the challenges of processing the Trade data. Two persons participated in the
training seminar organized by the Jamaica Customs on their Integrated Customs Automated
Services an internet based system, developed as an electronic alternative to the Customs paper
documents.
Trade datasets were provided to a number of public sector and international agencies such as
CARICOM, the United Nations, UNECLAC and FAO. There continued to be a high demand for
data on international merchandise trade from the private sector, embassies as well as market
researchers and students.
Total expenditure on merchandise imports between Jamaica and its trading partners for the
calendar year 2012 grew by 2.4 per cent or US$155.5 million to US$6,594.9 million when
compared to 2011. Earnings from total exports also increased, moving by US$87.5 million or 5.4
per cent to US$1,709.8 million. This resulted in the trade deficit at the end of 2012 moving by
1.4 per cent to US$4,885.1 million above the value of US$4,817.0 million recorded for 2011.
During 2012 the top five trading partners from which the nation imported goods were the
United States of America (USA), the Bolivarian Republic of Venezuela, Trinidad & Tobago, China
and Mexico. The major destinations for Jamaica’s exports were the USA, Canada, Slovenia,
United Arab Emirates, and the Netherlands.
12
Imports from the CARICOM region during 2012 were valued at US$858.6 million, representing
13.0 per cent of Jamaica’s import bill. This compares with 15.3 per cent in 2011. The decline in
expenditure was due mainly to lower imports of “Mineral Fuels, etcetera” as the country
bought less from the region in 2012. Total exports to the region rose by US$15.3 million or 22.5
per cent to US$83.2 million in 2012.
At the end of 2012 Jamaica recorded a trade deficit of US$775.3 million with CARICOM, down
from US$916.0 million in 2011, a 15.4 per cent fall.
International Comparison Price project (ICP)
Jamaica participated in the World Bank led 2011 round International Comparison of Prices
project as part of the Economic Commission for Latin America and the Caribbean ( ELAC) region.
The ICP is a worldwide statistical partnership to collect comparative price data which will be
used with other economic variables to estimate purchasing power parities (PPPs). PPP is a form
of exchange rate that takes into account the cost and affordability of common items in different
countries. It is used to measure relative social and economic well being of countries and assist
international markets by identifying the relative productivity and investment potential of
different countries.
The 2011 Round of the International Comparison Programme (ICP), Prices, was completed at
the end of this fiscal year. All price data required were validated and submitted to the World
Bank and (ECLAC). Information on national accounts and other data sets were also submitted
during the period.
ENVIRONMENT & MULTI-DOMAIN STATISTICS
Environment Statistics
In March 2013, the publication Jamaica's Environment in Your Pocket 2013 was published. This
publication contained information pertaining to the environment and is a follow up to Jamaica’s
Environment 2009. It provided updates of much of the data in that publication
STATIN continued to be involved in activities related to environment statistics at both the
national and international levels. These included
1. Activities associated with Vision 2030 such as the establishment of a climate change
unit/department at the Ministry of Water, Land, Environment and Climate Change.
2. United Nations Statistics Division (UNSD) Framework for the Development of Environment
Statistics ((FDES)- The revised Framework for the Development of Environment Statistics
(FDES) is both a conceptual and statistical framework that marks out the scope of
environment statistics. As a member of the Expert Group on the Revision of the Framework
for the Development of Environment Statistics, STATIN continued to participate in and
support the UNSD in its efforts to complete the framework before the meeting of the
13
Statistical Commission in February 2013. The major undertakings centred on consultation
with the launch of a Pilot Test of the Core Set of Environment Statistics and a Global
Consultation on the FDES as well as a Strategic Meeting on the Implementation Plan for the
revised FDES.
The objective of the Pilot Test was to improve the draft Core Set of statistics through the
experience and suggestions of collaborating countries. Some objectives were to: assess the
relevance of the statistical topics; compare the Core Set with national environment
statistics production and with environment statistics required for collection by national
environmental policies and international reporting requirements; and identify the primary
reasons for any data gaps. STATIN liaised primarily with NEPA on the Core Set of
Environment Statistics in order to complete the questionnaire.
The FDES was finalised with the incorporation of Chapter 5 – Cross-cutting Environmental
Issues which looked at other issues which were affected by the environment. These were
agriculture, climate change and tourism. The paper on ''Tourism Cross-cutting Issues'' along
with related statistics for FDES was prepared by Jamaica with collaboration from members
of the expert group from Belize and Botswana.
3. CARICOM Project on of Multilateral Environment Agreements (MEA) reporting
The Caricom Secretariat received support under the Caribbean Hub – Capacity Building
Related to the Implementation of Multilateral Environment Agreements/African Caribbean
and Pacific (MEA/ACP) Project. The focus of the project is the monitoring of the Convention
on Biological Diversity and other biodiversity related MEAs. The CARICOM Secretariat
visited Jamaica in November 2012 as part of a mission to three member countries that are
party to these conventions. The main objective of the activity was to enable the production
of core environment statistics and indicators through reviewing the current situation within
the Member State with respect to the production of environment statistics related to the
area of biodiversity. Caricom metadata for environment statistics was reviewed during this
period. The environment metadata covers population and households, land use and
agriculture and environmental health.
Information and Communication Technology (ICT) Statistics
The ICT indicators reported on in 2012 were restricted to eight (8) core access and use
indicators that were derived from the 2011 Population and Housing Census as follows:1.
2.
3.
4.
5.
6.
7.
8.
14
The Proportion of households with a radio
The Proportion of households with a television
The Proportion of households with a telephone
The Proportion of households with a computer
The Proportion of households with internet access at home
The Proportion of Individuals who used a computer in the last 6 months
The Proportion of Individuals who used the Internet in the last 6 months
The Proportion of Individuals who used a mobile cellular telephone in the last 3
months
In 2011, the annual survey of Living Conditions was suspended to facilitate the conduct of the
Census and as a result, only data from the Census was available for calculating ICT access and
use indicators. The following table provides the results on six of the eight indicators.
Selected Core ICT Access and Use Indicators: Census 2011
Percent
1. Proportion of households with a radio
81.72%
2. Proportion of households with a television
86.69%
1
3. Proportion of households with a telephone
94.04%
4. Proportion of households with Internet access (via computer only) at home
18.54%
5. Proportion of households with computer
27.93%
6. Proportion of individuals (aged 3 yrs and older) who used the Internet (from any
location) in the past 6 months
37.5%
Proportion of households with electricity (Reference Indicator)
91.40%
Source: Population & Housing Census 2011, Jamaica
1
Household access to telephone, (including households with fixed line only, mobile cellular only and households with
both fixed and mobile telephones) were combined and presented as a single indicator.
RESEARCH & METHODOLOGY
In accordance with the Institute’s strategic objective, work focused on improving the
methodological soundness through the revision of the Jamaica Standard Classification of
Occupations (JSOC), the updating of sampling frames and updating the metadata of the
statistical products.
Revision of the Jamaica Standard Classification of Occupations (JSOC)
The main objective of the revision of the JSOC is to bring Jamaica’s occupational classification in
line with the latest revision of the international standard (i.e. the 2008 edition of the
International Standard Classification of Occupations- ISCO ‘08). This is necessary to support the
exchange and comparability of Jamaica’s occupational data with regional and global partners.
In 2012, the scope of the revision of the JSOC was expanded to include the preparation of
occupational profiles which was seen as a major addition that was required to facilitate the
majority of classification users with labour market and human resource interests.
Prior to the expansion in the scope of the revision exercise, the target was to complete the
revision of the classification structure by the end of the reporting period. However, the staffing
challenges encountered during the year and the additional work undertaken to implement the
drafting of occupational profiles, resulted in the partial completion of both aspects of the
project. At the end of the reporting period, 50% of the classification structure was revised and
29% of occupational profiles prepared.
Funding for the development of occupational profiles for an estimated 1,100 occupations
identified was provided through the Word Bank’s Strategic Statistical Development project.
15
Sampling Programme
The development and implementation of a succession plan for the Sampling Programme
mitigated against major disruptions and facilitated a relatively smooth transition and
continuation of activities planned for the 2012-13 Work Programme.
The main Sampling projects undertaken during this period included:ƒ The selection of a sample of dwellings for undertaking a School to Work Transition
Survey commissioned by the International Labour Organization and the Ministry of
Labour;
ƒ Selection of a sample of establishments for the University of Technology to undertake a
baseline study on the business practices of Micro, Small and Medium sized Enterprises
(MSME);
ƒ The selection of an extended sample of dwellings for completion of the 2012 National
Crime Victimization Survey;
ƒ The selection of substitute establishments for completion of the Inflation Expectation
Survey, commissioned by the Bank of Jamaica;
ƒ Documentation of the survey design for a Climate Change Survey undertaken by the
Caribbean Institute of Media and Communication (CARIMAC);
ƒ Sampling support provided to graduate students undertaking socio-economic surveys in
partial fulfilment of the requirements of their programme of study;
ƒ Preparation of survey and sampling designs for surveys that form part of the regular
quarterly and annual economic and social survey programme of the Institute.
Subscription to the Special Data Dissemination Standard
The International Monetary Fund (IMF) has developed two standards for data dissemination
which are used mainly by their clients. The standards were established as a means of
enhancing transparency and openness for economic and financial data. These standards are the
General Data Dissemination System (GDDS) and the Special Data Dissemination Standard
(SDDS). Data dissemination standards are important in improving the availability of timely and
comprehensive statistics, thereby contributing to the pursuit of sound macroeconomic policies
and efficient functioning of financial markets. These standards are being accepted as the norm
for provision of metadata and quality assurance mechanisms for the compilation and
production of official statistics.
Member countries that have or may seek to have access to international capital markets in the
provision of their economic and financial data to the public will be held strictly accountable for
meeting the requirements of the SDDS. Such countries that subscribe to the SDDS agree to
comply with good practices in four areas: the coverage, periodicity and timeliness of data;
public access to data produced; data integrity; and data quality. SDDS subscription indicates
that the country meets the standard of good statistical citizenship
16
In June 2012 tripartite meetings were held with the Bank of Jamaica, Ministry of Finance and
STATIN to review the data compilation and dissemination practices of Jamaica as a participant
in the GDDS and to assess the country’s state of readiness for subscription to the SDDS by June
2013.
Several activities and initiatives designed to make STATIN SDDS compliant were undertaken and
included:ƒ
ƒ
ƒ
ƒ
The updating and conversion of GDDS Metadata to the new Data Quality
Assessment framework (DQAF) format,
The updating and maintenance of the National Summary Data Page (NSDP) with the
requisite data from STATIN
The development, monitoring and release of a bi-annual Advanced Release Calendar
(ARC) for STATIN
The identification of data categories from the Real and External Sectors that are not
currently SDDS compliant and crafting strategies and actions to achieve compliance
in the shortest possible time.
17
SUPPORT SERVICES
OFFICE OF THE DIRECTOR GENERAL
Amendment of the Statistics Act
Proposed Amendments to the Statistics Act were drafted and submitted along with a Cabinet
submission to the Ministry of Finance and Planning. The proposed amendments will provide for
the establishment of the National Statistics Commission that will provide governance to the
statistics system
Development of the National Statistics System
The national statistics system (NSS) is a system that has a coherent body of data. It aims to
ensure continuous co-ordination and co-operation among producers and users of official
statistics in order to advance standardisation, quality, consistency, comparability and use of
evidence-based statistics as the basis for policy choices and decision making, and avoidance of
unnecessary and costly duplication1.”
Official statistics in Jamaica are being produced in a fragmented environment, where each
ministry, department and agency produces its own official data in accordance with its own
policy guidelines. These actions often result in overlaps and duplication. The current best
practices recommend that a coordinating mechanism be established and that the Statistics Act
be amended to incorporate this mechanism. Proposed amendments to the Statistics Act
including the establishment of the Statistics Commission as the governing body for the NSS
have been drafted and submitted to the Ministry of Finance and Planning
A project funded by The United Nations Development Programme (UNDP) was established to
develop the initial stages of the NSS. During the review period there was the fielding of two
assessment instruments; one to data producers and the other to data users. Advocacy work
aimed at sensitizing stakeholders re the planned Needs Assessment exercise and establishment
of a National Statistics System (NSS) was also undertaken.
The fielding of the assessment instruments was to assess the statistical capacity and the
development needs of major entities involved in the production of national statistics. Over 70
Ministries, Departments and Agencies (MDAs) were assessed as producers, and over 190
entities as users of statistics. Desk reviews and Non Governmental Organization (NGO)
assessments were completed. Interviews were also conducted with Planning Institute of
Jamaica (PIOJ) Vision 2030 Team.
The findings from this assessment were compiled in the form of a draft Gap Analysis. The Gap
Analysis will then inform the development of a Strategic Master Plan for the development and
management of official statistics in a structured and sustainable manner.
1
Extracted from – Statistics South Africa – The National Statistics System: Our Challenges
18
Thereafter, it is proposed that administrative support to the Statistics Commission and the
technical supervision of the NSS be built into the budgetary and revised organisation
arrangements of the Institute.
CORPORATE SERVICES DIVISION
The Corporate Services Division, in fulfillment of its function during the financial year 20122013, continued to provide corporate support and leadership in the areas of strategic
management; financial management; human resource management; communications and
marketing; library services; and property and general business services to assist all divisions in
achieving the Institute’s mission and goals.
Staffing
As at April 1, 2012 there were three hundred and ninety-one (391) persons on staff. This
number comprised three hundred and thirty-nine (339) staff on the permanent establishment
and fifty-two (52) project staff. At the end of the financial year (March 31, 2013), there were
three hundred and ninety-three persons on staff with three hundred and forty (340).permanent
staff and fifty-three (53) project staff. Vacancy levels averaged 96% throughout the year. All
vacancies approved for operation by the Post operations Committee of the Ministry of Finance
and Planning were filled in keeping with the Institute’s recruitment policy.
Training and Development
A range of technical courses sponsored by various international statistical organizations were
accessed by thirty-two (32) Statisticians. The focus of these courses was evenly spread across
the areas of national accounts; survey development and analysis; census data analysis,
documentation and archiving; and information technology. Some training was also received in
the area of environment statistics.
Courses were offered internally in the areas of Customer Service and Interviewing Techniques.
Of special significance to the Institute was the introduction of the Electronic Data Collection
System (eDaCS). A total of 173 staff members were trained and certified by the Institute in the
use of this system.
As a part of our corporate stewardship, work experience opportunities were afforded to seven
(7) young persons from the National Youth Service Programme and two (2) from the Citizen’s
Security and Justice Programme.
Annual General Staff Meeting 2012
The Annual General Staff Meeting was held at the Wyndham Kingston Hotel on Friday,
September 28, 2012 under the Theme: “Information Sharing: A Collective Approach”. The
keynote address was presented by Lieutenant Colonel Oscar Derby, Director General, Jamaica
Civil Aviation Authority. Presentations were also made by representatives of the Institute on
Information Sharing within STATIN, development of the National Statistics System and the
Electronic Data Collection System (eDaCS)
19
Group Health Insurance
SAGICOR MEDIGAP, a suite of voluntary benefit products to supplement the existing
Government Employees’ Administrative Services Only (GEASO) plan, was introduced to staff in
October 2012. This programme provides supplemental in-hospital coverage for persons
enrolled on the GEASO health plan as well as their covered beneficiaries
Divisional Employee of the Year Awards 2012
The Divisional Employee of the Year Awardees for 2012 were as follows:Name
Mrs. Deanery Berth
Mr. Dave Campbell
Mr. Michael Baugh
Position
Senior Secretary
Supervisor I-Field
Statistical Officer
Division
Information & Technology
Field Services
Administrative Statistics
Long Service
The Institute would like to recognize the following twenty-two staff members who, as at
March 31, 2013, had served the Institute for twenty-five, thirty, thirty-five, forty and forty-one
years respectively.
25 Years
Andrea Brown
30 Years
Marjorie Cain
35 Years
Alvena Cooper
40 Years
Barbara Clarke
Victor Douglas
Merlene Evans
Ethel Lyons
David Richards
Dian Washington
Michael Clarke
Glendon Crooks
Wilby Johnson
Andrew Jones
Paulette Lemonious
Babara Riley-Williams
Merville Anderson
Day-Dawn Simon
Blossom Ellison-McCurdy
Winsome Young
Matthew Green
Marcia James
41 Years
Cecile Malcolm
Retirement
Three (3) staff members retired from the Institute during the review period as follows:Name
Marjorie Rhone
Louise Sharpe
Emannuel Wright
Position
Senior Personnel Officer
Office Attendant
Supervisor I-Field
Years of Service
29
42
40
Communications and Marketing
The Communications and Marketing Unit continued its efforts towards maximizing public
awareness of the Institute’s products and services and maintaining its corporate image. The
Unit was able to undertake the widespread dissemination of information through participation
in numerous expositions, school presentations, and product launches throughout the year.
20
A major part of the marketing and communications strategy of the Institute is to offer library
services to the public. The Library continued to facilitate visits by a wide cross-section of
persons who sought statistical information produced by the Institute. Research services on
unpublished data were also provided
The Annual Calendar (2013) was also published and distributed during the period. The calendar
highlighted data from the Census of Population and Housing 2011 and provided a snap shot in
each month of the year on topics such as Jamaica’s population profile, over the years; fertility,
mortality and migration; age distribution; age structure of Jamaica’s population; population by
religious affiliation/denomination; Jamaica’s population distribution by parish; and featured
ways in which data produced by the Institute can be used.
STATIN’s website www.statinja.gov.jm continued to be a useful marketing and dissemination
tool for the products and services of the Institute. For the period April 2012 – March 2013, the
website was extensively used both externally and internally. The homepage hits for the period
was 4,219,441 and total page view as 3,234,183.
INFORMATION AND TECHNOLOGY
The Information and Technology (IT) Division provided critical support in managing the
information and communication systems within the Institute. The Division offered technical
support, managed and maintained the information and communication infrastructure
(hardware and software), designed and developed information systems, offered technological
advice, and made recommendations regarding IT investment decisions.
The Division provided data entry services for select surveys conducted by the Institute. Systems
were developed to enhance the processing of data that were routinely collected for surveys
that formed part of STATIN’s regular programme of work, as well as ad hoc surveys and special
projects administered.
The Division continued to offer general support to network and applications within the
Institute. The following areas are major areas of support from the Division.
◊ Printer Management
◊ Email Services
◊ Data Management System – the Institute uses the Data Management System (DMS) to
process trade, demographic and business register data.
◊ Finance, Payroll, and Human Resources
◊ In-house Systems – these are systems that have been developed in-house by the
Information and Technology Division. These include Census 2011 data processing
application, TravelR (travel register system), and the electronic data collection system
(eDaCS). Support is also given to these systems by the Division. The division also
developed data entry systems for survey related activities. This included crime and
victimization survey and the survey of living conditions.
21
Electronic Data Collection (eDaCS)
The Information and Technology Division also executed the electronic data collection systems
project over the period. The eDaCS Project was developed in-house in response to the need to
reengineer the data collection process and introduce a more efficient and environmentally
friendly method of collecting and storing survey data.
22
IRECTORS COMPENSATION
APRIL 1, 2012 – MARCH 31, 2013
Position of Director
Fees
($)
Motor Vehicle
Upkeep/Travelling
or
Value of Assignment
of Motor Vehicle
($)
Honoraria
($)
All Other
Compensation
including Non-Cash
Benefits as applicable
($)
Chairman
112,500.00
-
-
-
112,500.00
Director 1
67,500.00
-
-
-
67,500.00
Director 2
60,000.00
-
-
-
60,000.00
Director 3
60,000.00
-
-
-
60,000.00
Director 4
45,000.00
-
-
-
45,000.00
Director 5
45,000.00
-
-
-
45,000.00
Director 6
-
-
-
Director 7
-
-
-
Director 8
-
-
-
Director 9
-
-
-
Notes
1. The only payment made to the Board members was for attendance at meetings.
23
Total
($)
SENIOR EXECUTIVE COMPENSATION 2012/2013
Pension or
Other
Retirement
Benefits
($)
Salary
($)
Gratuity or
Performance
Incentive
($)
Travelling Allowance
or Value of Assignment
of Motor Vehicle
($)
Director General
9,745,752.00
6,530,313.00
975,720.00
17,251,785.00
Deputy Director General
3,944,670.00
894,410.00
4,839,080.00
Director, Administrative
Statistics
Director, Censuses,
Demographic & Social
Statistics
Director, Information &
Technology
Director, Economic
Accounting
Director, Field Services
3,896,904.00
975,720.00
4,872,624.00
607,115.00
6,165,712.00
3,985,325.00
975,720.00
4,961,045.00
3,620,718.00
894,410.00
4,515,128.00
4,251,698.00
975,720.00
5,227,418.00
Director, Corporate Services
3,435,440.00
975,720.00
4,411,160.00
Director, Surveys
3,710,153.00
975,720.00
4,685,873.00
Director, Research, Design
& Evaluation
Corporate Secretary/Legal
Officer
3,435,440.00
975,720.00
4,411,160.00
3,843,568.00
514,500.00
4,358,068.00
Position of Senior Executive
3,491,905.00
2,066,692.00
Other
Allowances
($)
Non-Cash
Benefits
($)
Total
($)
Notes: Except where stated otherwise, all compensation packages include:
1. Group Life: Non-contributory; equivalent to two (2) times annual basic salary upon death.
2. Group Health: Contributory scheme under GEASA with Sagicor Life Jamaica Limited.
3. Annual Vacation Leave Entitlement of twenty-five (25) days.
24
STATISTICAL INSTITUTE OF JAMAICA
Financial Summary
Year Ended March 31, 2013
INCOME AND EXPENDITURE ACCOUNT
2013
$'M
Revenue
Government Grants
Transfer of Surplus on
closed project
Other Income
Expenses
Net Loss for the Year
2012
$'M
Increase/
(Decrease)
%
579.53
540.92
7%
13.68
11.62
604.83
697.25
(92.42)
41.69
5.65
588.26
699.77
(111.51)
-67%
106%
3%
-0.1%
20%
For the year ended March 31, 2013 the Institute realized a net loss of $92.42 million, an increase of 20%
compared to the previous year’s loss of $111.51 million. There was an increase in Government Grants to
offset the increase in Staff costs and Goods & Services. Also, there were other increases that were paid
from the reserves of the Institute.
Total Revenue increased by approximately 3% to $604.83 million up from $588.26 million. In 2012/2013,
Government Grants constituted more than 95% of total revenue received, standing at $579.53 million
compared to $540.92 million in 2011/2012. Operating Expenses for the year under review were $697.25
million, which is approximately 0.1% less than the prior year’s figure of $699.77 million. Staff Costs
accounted for 77% of the Institute’s total expenses compared to 79% in the prior year.
BALANCE SHEET
Net Non-Current Assets decreased by 27% to $44.23 million.
Total Liabilities at the end of the year was $188.46 million, a decrease of 22% compared to that
recorded for 2011/2012.
25
STATISTICAL INSTITUTE OF JAMAICA
FINANCIAL STATEMENTS
YEAR ENDED 31ST MARCH 2013
STATISTICAL INSTITUTE OF JAMAICA
YEAR ENDED 31ST MARCH 2013
PAGE
REPORT OF THE INDEPENDENT AUDITORS
TO THE MEMBERS
1 – 1a
FINANCIAL STATEMENTS:
Statement of Financial Position
2
Statement of Comprehensive Income
3
Statement of Changes in Capital & Reserve Funds
4
Statement of Cash Flows
5
Notes to the Financial Statements
6 - 25
PaulGol ds on
& C o.
Incor por ating
Corporate Head-Office
U n i t3 4
W i n c h e s t e rB u s i n e s sC e n t r e
15 H o p e R o a d
K i n g s t o nl 0
J a m a i c aW
, .l.
REPORT OF THE INDEPENDENT AUDITORS
TO THE BOARD OF DIRBCTORS OF
STATISTICAL INSTITUTE OF JAMAICA
Phone
Fax
Email
Web
+876 9084007
+876-7540380
info@uhy-ja.com
www.uhy-ja.com
Reporton theFinancialStatements
We have auditedthe accompanyingfinancialstatements
of Statisticallnstituteof Jamaica
of
which comprisethe statement
of financialpositionas at 3lst March2013,the statements
comprehensive
income,changesin capitalandreservefundsand cashflows for the yearthen
ended,anda summaryof significantaccountingpoliciesandotherexplanatorynotes.
Management'sResponsibilityfor the FinancialStatements
that give a true andfair
Management
is responsiblefor the preparationof financialstatements
view in accordancewith InternationalFinancialReportingStandards(IFRS) and the
determinesis necessary
JamaicanStatisticsAct, and for suchinternalcontrolas management
that are free from materialmisstatement,
to enablethe preparationof financial statements
whetherdueto fraudor error.
Auditors' Responsibility
basedon our audit.
is to expressan opinionon thesefinancialstatements
Our responsibility
We conductedour audit in accordancewith InternationalStandardson Auditing. Those
and planand performthe auditto
requirethat we complywith ethicalrequirements
standards
arefreefrom materialmisstatement.
assurance
thatthe financialstatements
obtainreasonable
to obtainauditevidencerelatingto the amountsand
An auditinvolvesperformingprocedures
disclosuresin the financialstatements.The proceduresselecteddependon our judgement,
of the financial statements,
of the risks of materialmisstatement
includingour assessment
considerinternalcontrol
we
risk
assessments,
whetherdueto fraud or error. ln makingthose
that give a true and fair view in
relevantto the entity'spreparationof financialstatements
but not for the
order to designaudit proceduresthat are appropriatein the circumstances,
of the entity'sinternalcontrol.
purposeof expressing
an opinionon the effectiveness
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REPORT OF THE INDEPENDENT AUDITORS
TO THE BOARD OF'DIRECTORS OF
STATISTICAL INSTITUTE OF JAMAICA
Auditorsr Responsibility(cont'd)
An audit also includesevaluatingthe appropriateness
of accountingpoliciesused and the
reasonableness
of accountingestimatesmade by management,as well as evaluatingthe
overallpresentation
of the financialstatements.
We believethatthe auditevidencewe haveobtainedis sufficientand appropriateto providea
basisfor our auditopinion.
Opinion
give a true and fair view of the financialpositionof
In our opinion,the financialstatements,
StatisticalInstitute of Jamaicaas of 31st March 2013, and of its financial performance,
changesin capitaland reservefunds and cashflows for the year then ended,in accordance
with InternationalFinancialReportingStandardsandthe JamaicanStatisticsAct.
Report on additional requirementsof the JamaicanStatisticsAct.
which, to the bestof our knowledge
We haveobtainedall the informationand explanations
and belief,were necessaryfor the purposesof our audit. In our opinion,properaccounting
recordshavebeenmaintained,so far as appearsfrom our examinationof thoserecords,and
the financial statementswhich are in agreementtherewith,give the information requiredby
the JamaicanStatisticsAct, in the mannerrequired.
RTEREDACCOUNTANTS
UHY DAWGEN
(rNcoRpoRATING PAUL GOLDSON& CO.)
18thJuly2013
Page2
STATISTICAL INSTITUTE OF JAMAICA
STATEMENT OF FINANCIAL POSITION - 31ST MARCH 2013
2013
$
2012
$
44,226,770
44,226,770
60,600,092
60,600,092
1,535,737
l2,gg3,5lg
5,145,757
113,252,881
132,827,894
1,736,125
I ,088
8,71
3,921,735
249,125,543
263,494,491
177,054,664
324,094,583
Notes
ASSETS
Non-currentassets
Property,plant and equipment
Current assets
Inventories
Tradeand otherreceivables
Prepayments
Cashandcashequivalents
5
6
Total Assets
EQUITY AND LIABILITIES
Capital and reserves
(11,409,121\
25,830,805
4,589,773
50,684,487
81,105,065
138,255,755
50,208,030
188,463,785
142,958,613
100,030,905
242,989,518
177.0s4.664 &
324.094.583
25,732,870
Capital fund
Capitalgrants
4,589,773
(41,731,764)-
Generalreservefund
Current liabilities
Tradeand otherpayables
Projectsand contracts
Total Equity and Liabilities
t0
ll
-
The accompanyingnotesform an integralpart of the financial statements.
APPROVEDFORISSUE BY THE BOARD ON
ON ITS BEHALF BY:
Alvin Wint
Chairman
1BTH JULY 2013
AND SIGNED
Carol Coy
Director General
Page 3
STATISTICAL INSTITUTE OF JAMAICA
STATEMENT OF COMPREHENSIVE INCOME
YEAR ENDED 31ST MARCH 2013
Notes
2013
$
2012
$
Revenue:
Government grants
12
579,535,132
540,917,233
Transfer of surplus on closed projects
11
13,676,159
41,690,381
Other income
13
11,617,477
5,647,620
604,828,768
588,255,234
697,245,019
699,767,341
(92,416,251)
(111,512,107)
Expenses
14
Deficit for the year
The accompanying notes form an integral part of the financial statements.
Page 4
STATISTICAL INSTITUTE OF JAMAICA
STATEMENT OF CHANGES IN CAPITAL AND RESERVE FUNDS
YEAR ENDED 31ST MARCH 2013
Capital
Fund
$
Balance at 31st March 2011
Net movements in the year
Deficit for the Year
Balance at 31st March 2012
Net movements in the year
Deficit for the Year
Balance at 31st March 2013
26,200,176
(369,371)
-
25,830,805
Capital
Grants
$
General
Reserve
$
Total
$
4,589,773
162,196,594
192,986,543
-
-
-
-
(369,371)
(111,512,107)
(111,512,107)
50,684,487
81,105,065
4,589,773
(97,935)
25,732,870
-
4,589,773
The accompanying notes form an integral part of the financial statements.
-
(97,935)
(92,416,251)
(92,416,251)
(41,731,764)
(11,409,121)
Page 5
STATISTICAL INSTITUTE OF JAMAICA
STATEMENT OF CASH FLOWS
YEAR ENDED 31ST MARCH 2013
2013
$
CASH FLOWS FROM OPERATING ACTIVITIES
Deficit for the year
2012
$
(92,416,251)
(111,512,107)
( 421,884)
31,288,859
(61,549,276)
(
369,371)
35,092,157
( 76,789,321)
200,388
( 4,182,433)
( 1,224,022)
1,997,758
29,783,115
( 383,481)
(Decrease)/increase in current liabilities:
Trade and other payables
Projects and contracts
Net cash (used in)/provided by operating activities
( 4,702,858)
( 49,822,875)
( 121,281,076)
67,908,567
26,511,921
49,028,559
Cash flows from investing activities:
Purchase of property, plant and equipment
Net cash used in investing activities
( 14,915,535)
( 14,915,535)
( 8,657,930)
( 8,657,930)
Adjustments to reconcile net deficit to net cash (Used in)/
provided by operating activities:
Depreciation on property, plant and equipment donated
Depreciation on purchased property, plant and equipment
Decrease/(increase) in current assets:
Inventories
Trade and other receivables
Prepayments
Cash flows from financing activities:
Capital grant
Net cash provided by financing activities
Net (decrease)/increase in cash and cash equivalents
323,949
323,949
-
(135,872,662)
40,370,629
Cash and cash equivalents at beginning of year
249,125,543
208,754,914
Cash and cash equivalents at end of year
113,252,881
249,125,543
The accompanying notes form an integral part of the financial statements.
Page 6
STATISTICAL INSTITUTE OF JAMAICA
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST MARCH 2013
1. Identification:
The Statistical Institute of Jamaica was established by virtue of the Statistics (Amendment) Act Number 3
of 1984 as amended by Number 11 of 2003.
The main functions of the Institute are:(a) To collect, compile, analyse, abstract and publish national statistical information relating to the
commercial, industrial, social, economic and general activities and conditions of the people of
Jamaica.
(b) To take any census in Jamaica.
These financial statements are expressed in Jamaican Dollars.
2. Adoption of Standards, Interpretations and Amendments.
a)
Standards, Interpretations and Amendments to published standards that are in effect:
The International Accounting Standards Board (IASB) issued certain new standards and
interpretations as well as amendments to existing standards, which became effective during the year
under review. The new standard in effect is as follows:
IFRS 7 (Amendments ) Financial Instruments Disclosures - Transfers of Financial Assets
(Effective July 2011).
The amendments to IFRS 7 increase the disclosure requirements for transactions involving transfers
of financial assets. These amendments are intended to provide greater transparency around risk
exposures when a financial asset is transferred but the transferor retains some level of continuing
exposure in the asset. The amendments also require disclosures were transfers of financial assets are
not evenly distributed throughout the period. These amendments will have no material effect on the
financial statements.
The Institute's management has assessed the relevance of new standards, interpretations and
amendments and has adopted and applied in these financial statements, those standards which are
considered relevant to its operations.
Page 7
STATISTICAL INSTITUTE OF JAMAICA
NOTES TO THE FINANCIAL STATEMENTS - (CONT'D)
YEAR ENDED 31ST MARCH 2013
2. Adoption of Standards, Interpretations and Amendments (cont'd):
b)
Standards, Interpretations and Amendments to published standards that are not yet effective:
At the date of the authorisation of these financial statements, certain new standards, amendments and
interpretations to existing standards have been issued which were not effective at the reporting date,
and which the Institute has not early adopted.
IAS 1 - Presentation of Items of Other Comprehensive Income (Effective July 2012)
The amendments to IAS 1 retain the option to present profit or loss and other comprehensive income
in either a single statement or in two separate but consecutive statements. However, the amendments
to IAS 1 require additional disclosures to be made in the other comprehensive income section, such
that items of other comprehensive income are grouped into two categories: (a) items that will not be
reclassified subsequently to profit or loss; and (b) items that will be reclassified subsequently to
profit or loss when specific conditions are met. Income tax on items of other comprehensive income
is required to be allocated on the same basis.
The presentation of items of other comprehensive income will be modified accordingly when the
amendments are applied in the future accounting periods.
Annual Improvements to 2009- 2011 Cycle (Effective January 2013)
IFRS 1 - First- Time Adoption of International Financial Reporting Standards.
Repeated Application of IFRS 1 - An entity may apply IFRS 1 if its most recent previous annual
financial statements did not remain an explicit and unreserved statement of compliance with IFRS,
even if the entity applied IFRS 1 in the past. An entity that does not elect to apply IFRS 1 must
apply IFRSs retrospectively as if there was no interruption.
An
1.
2.
3.
entity should disclose:
the reason it stopped applying IFRS
the reason it is resuming application of IFRS; and
the reason it has elected not to apply IFRS 1, if applicable.
Borrowing Costs - Borrowing costs capitalised under previous GAAP before the date of transition to
IFRSs may be carried forward without adjustment to the amount previously capitalised at the
transition date. Borrowing costs incurred on or after the date of transition to IFRSs that relate to
qualifying assets under construction at the date of transition should be accounted for in accordance
with IAS 23 Borrowing Costs. A first time adopter can choose to apply IAS 23 at a date earlier than
the transition date.
IAS 1 - Presentation of Financial Statements.
Additional comparative information is not necessary for periods beyond the minimum comparative
financial statement requirements of IAS 1. If additional comparative information is provided, the
information should be presented in accordance with IFRSs, including disclosure of comparative
financial statement requirements. Presenting additional comparative information voluntarily would
not trigger a requirement to provide a complete set of financial statements.
Page 8
STATISTICAL INSTITUTE OF JAMAICA
NOTES TO THE FINANCIAL STATEMENTS - (CONT'D)
YEAR ENDED 31ST MARCH 2013
2. Adoption of Standards, Interpretations and Amendments (cont'd):
b) Standards, Interpretations and Amendments to published standards that are not yet effective
(cont'd):
IAS 1 - Presentation of Financial Statements (cont'd):
An entity that changes accounting policies retrospectively, or makes a retrospective restatement or
reclassification which has a material effect on the information in the statement of financial position
at the beginning of the preceeding period would present the statement of financial position at the end
of the current period and the beginning and end of the preceeding period. Other than disclosure of
certain specified information, related notes are not required to accompany the opening statement of
financial position as at the beginning of the preceding period. An entity's first IFRS financial
statements may include additional comparative information in accordance with previous GAAP to
assist in explaining the effects of the transition to IFRS.
IAS 16 - Property, Plant and Equipment
Spare parts, stand-by equipment and servicing equipment should be classified as property, plant and
equipment when they meet the definition of property, plant and equipment in IAS 16 and as
inventory otherwise.
IAS 32 - Financial Instruments : Presentation
Income tax relating to distributions to holders of an equity instrument and to transaction costs of an
equity transaction should be accounted for in accordance with IAS 12 Income Taxes.
IFRS 9: Financial Instruments - Part 1: Classification and Measurement of Financial
Instruments (Effective January 2015)
Financial assets are required to be classified into two measurement categories: those to be measured
subsequently at fair value and those to be measured subsequently at amortised cost. The decision is
to be made at initial recognition. The classification depends on the entity's business model for
managing its financial instruments and the contractual cash flow characteristics of the instrument.
An instrument is subsequently measured at amortised cost only if it is a debt instrument and both the
objective of the entity's business model is to hold the asset to collect the contractual cash flows, and
the asset's contractual cash flows represent only payments of principal and interest (that is, it has
only 'basic loan features'). All other debt instruments are to be measured at fair value through profit
or loss.
All equity instruments are to be measured subsequently at fair value through profit or loss. For all
other equity investments, an irrecoverable election can be made at initial recognition, to recognise
unrealised and realised fair value gains and losses through other comprehensive income rather than
profit or loss. There is to be no recycling of fair value gains and losses to profit or loss. This election
may be made on an instrument-by-instrument basis. Dividends are to be presented in profit or loss as
long as they represent a return on investment.
Management has determined that the standard is relevant to existing policies for its current
operations, but has not yet assessed the impact on adoption
Page 9
STATISTICAL INSTITUTE OF JAMAICA
NOTES TO THE FINANCIAL STATEMENTS - (CONT'D)
YEAR ENDED 31ST MARCH 2013
2. Adoption of Standards, Interpretations and Amendments (cont'd):
b)
Standards, Interpretations and Amendments to published standards that are not yet effective
(cont'd):
IFRS 13 Fair Value Measurement (Effective January 2013 with earlier application permitted)
IFRS 13 establishes a single source of guidance for fair value measurements and disclosures about
fair value measurements. The standard defines fair value, establishes a framework for measuring fair
value, and requires disclosures about fair value measurements. The scope of IFRS 13 is broad; it
applies to both financial instrument items and non-financial instrument items for which other IFRSs
require or permit fair value measurements and disclosures about fair value measurements, except in
specified circumstances. In general, the disclosure requirements in IFRS 13 are more extensive than
those required in the current standards. For example, quantitative and qualitative disclosures based
on the three-level fair value hierarchy currently required for financial instruments only under IFRS 7
Financial Instruments: Disclosures will be extended by IFRS 13 to cover all assets and liabilities
within its scope.
The directors anticipate that IFRS 13 will be adopted in the financial statements for the annual
period beginning 1st April 2013 and that the application of the new Standard will result in more
extensive disclosures in the financial statements.
These will affect the financial statements for accounting periods beginning on or after the first day
of the months stated. The Institute is evaluating the impact that these standards and amendments
will have on the financial statements.
IAS 19 (Amendments) Employee Benefits (Effective January 2013)
The amendment to IAS 19 changes the accounting for the defined benefit plans and termination
benefits. The most significant change relates to the accounting for changes in defined benefit
obligations and plan assets. The amendments require the recognition of changes in defined benefit
obligations and in fair value of plan assets when they occur, and hence eliminates the 'corridor
approach' permitted under the previous version of IAS 19 and accelerates the recognition of past
service costs. The amendments require all actuarial gains and losses to be recognised immediately
through other comprehensive income in order for the net pension asset or liability to be recognised
in the statement of financial position to reflect the full value of the plan deficit or surplus.
3. Statement of Compliance, Basis of Preparation and Significant Accounting Policies:
(a) Statement of Compliance and Basis of Preparation These financial statements are prepared in accordance with International Financial Reporting
Standards (IFRS) and interpretations issued by the International Financial Reporting Committee of
the IASB and comply in all material respects with the provisions of the Statistics Act. They have
been prepared under the historical cost convention and are expressed in Jamaican Dollars.
Page 10
STATISTICAL INSTITUTE OF JAMAICA
NOTES TO THE FINANCIAL STATEMENTS - (CONT'D)
YEAR ENDED 31ST MARCH 2013
3. Statement of Compliance, Basis of Preparation and Significant Accounting Policies (Cont'd):
(b) Property, plant and equipment :
Property, plant and equipment are stated at historical cost less depreciation less any impairment
losses.
Depreciation of property, plant and equipment is provided on the straight-line basis calculated
at annual rates estimated to write off the cost of each asset over the term of its useful life. The rates
of depreciation in use are as follows:Buildings
Furniture, Fixtures and Office Equipment
Motor Vehicles
Computer Software & Equipment
Leasehold Improvements
2%
10%
20%
25%
10%
Property, plant and equipment are periodically reviewed for impairment. Where the carrying
amount of an asset is greater than its estimated recoverable amount, it is written down to
recoverable amount.
Gains and losses on disposal of property, plant and equipment are determined by reference to their
carrying amount and are taken into account in determining operating surplus or deficit.
Freehold land is not depreciated.
(c) Inventories Inventories are valued at the lower of cost and net realisable value.
(d) Receivables Receivables comprise trade and other receivables which are carried at original amounts less
provisions made for bad debts and impairment losses. A provision for bad debts is established when
there is objective evidence that the Institute will not be able to collect all amounts due according to
the original terms of the receivables. The amount of any provision is the difference between the
carrying amount and the expected recoverable amount.
(e) Provisions Provisions are recognised when the Institute has a present legal or constructive obligation as a result
of past events, if it is probable that an outflow of resources embodying economic benefits will be
required to settle the obligation, and a reliable estimate of the amount of the obligation can be made.
Employee entitlements to annual leave are recognised when they accrue to employees. A provision
is made for the estimated liability for annual leave as a result of services rendered by employees up
to the reporting date.
Page 11
STATISTICAL INSTITUTE OF JAMAICA
NOTES TO THE FINANCIAL STATEMENTS - (CONT'D)
YEAR ENDED 31ST MARCH 2013
3. Statement of Compliance, Basis of Preparation and Significant Accounting Policies (Cont'd):
(f) Impairment of Assets Property, plant and equipment and other long-lived assets are reviewed for impairment losses
whenever events or changes in circumstances indicate that the carrying amount may not be
recoverable. An impairment loss is recognised for the amount by which the carrying amount of the
asset exceeds its recoverable amount, which is the higher of an asset's selling price or value in use.
For the purpose of assessing impairment, assets are grouped at the lowest level for which there are
separately identifiable cash flows.
(g) Revenue Recognition i) Government Grants
Revenue from government grants are recognised when there is reasonable assurance that the
grant will be received.
ii) Income from Closed-out Projects
Revenue from projects is recognised when they have been completed and comprises the net
amount of income earned and expenses incurred allocated to the project.
iii) Interest Income
Interest income is accrued on the principal outstanding on fixed deposits.
iv) Sale of Publications, Subscriptions for Publications and Maps
Revenue comprises the fair value of consideration received or receivable for the provision of
publications and maps in the ordinary course of the Institute's activities. The revenue is shown
net of discounts.
(h) Foreign Currency Transactions During the period, transactions in foreign currencies are converted into Jamaican dollars at the rates
of exchange ruling on the dates of those transactions. Assets and liabilities denominated in foreign
currencies are translated at the rates of exchange ruling at the reporting date. Gains or losses arising
from fluctuation in the exchange rates are reflected in the Statement of Comprehensive Income.
(i)
Use of Estimates The preparation of the financial statements in conformity with International Financial Reporting
Standards requires management to make estimates and assumptions that affect the amounts reported
in the financial statements and accompanying notes. Actual results may differ from these estimates
and any adjustments that may be necessary would be reflected in the results of the year in which
actual amounts are known.
Page 12
STATISTICAL INSTITUTE OF JAMAICA
NOTES TO THE FINANCIAL STATEMENTS (CONT'D)
YEAR ENDED 31ST MARCH 2013
4. Property, plant and equipment:
Land
$
Cost or valuation:
31st March 2011
Additions
Disposal
31st March 2012
Additions
Disposal
31st March 2013
Accumulated depreciation:
31st March 2011
Charge for the year
Disposal
31st March 2012
Charge for the year
Disposal
31st March 2013
Buildings
$
113,268
113,268
113,268
-
Leasehold
Improvements
$
Furniture,
Fixtures &
Equipment
$
Computer
Software &
Equipment
$
Motor
Vehicles
$
Total
$
5,705,891
5,705,891
5,705,891
13,591,295
13,591,295
13,591,295
38,607,230
5,491,561
( 265,531)
43,833,260
1,447,701
45,280,961
165,124,779
3,166,369
( 2,297,700)
165,993,448
13,467,834
179,461,282
6,736,172
6,736,172
( 880,000)
5,856,172
229,878,635
8,657,930
( 2,563,231)
235,973,335
14,915,535
(
880,000)
250,008,870
1,096,350
114,117
1,210,467
114,117
1,324,584
10,734,314
1,359,130
12,093,444
1,359,130
13,452,574
20,074,655
3,491,077
( 265,531)
23,300,201
3,580,564
26,880,765
108,925,593
29,150,708
( 2,297,700)
135,778,601
25,257,923
161,036,524
2,013,404
977,124
2,990,528
977,124
( 880,000)
3,087,652
142,844,316
35,092,157
( 2,563,231)
175,373,242
31,288,859
(
880,000)
205,782,100
Net book values:
31st March 2013
113,268
4,381,307
138,721
18,400,196
18,424,758
2,768,520
44,226,770
31st March 2012
113,268
4,495,424
1,497,851
20,533,058
30,214,847
3,745,644
60,600,092
31st March 2011
113,268
4,609,541
2,856,981
18,532,575
56,199,186
4,722,768
87,034,319
Page 13
STATISTICAL INSTITUTE OF JAMAICA
NOTES TO THE FINANCIAL STATEMENTS - (CONT'D)
YEAR ENDED 31ST MARCH 2013
5. Inventories:
2013
$
Printery
General
444,449
1,091,288
1,535,737
2012
$
544,054
1,192,071
1,736,125
6. Trade and other receivables:
2013
$
Trade
Staff Loans
Motor Vehicle Revolving Loan (i)
Other
(i)
8,042,053
72,936
3,000,000
1,778,530
12,893,519
2012
$
2,964,998
230,523
3,000,000
2,515,567
8,711,088
The motor vehicle revolving loan fund was established in June 1996 as a part of the 1994/1996 wage
settlement. The Ministry of Finance and Planning agreed to provide the sum of three million dollars
($3m) for the establishment of this loan fund which is managed by the Accountant General's
Department.
7. Cash and cash equivalents:
2013
$
Current accounts- Main
- Projects
Retained account- Main (2013 - US$544,652 : 2012 - US$592,724)
Deposit accounts
Petty cash
2012
$
26,100,352
21,512,947
7,727,341
178,575,838
53,340,697
12,292,885
6,000
113,252,881
51,525,975
11,290,389
6,000
249,125,543
Page 14
STATISTICAL INSTITUTE OF JAMAICA
NOTES TO THE FINANCIAL STATEMENTS - (CONT'D)
YEAR ENDED 31ST MARCH 2013
8. Capital fund:
2013
$
Balance brought forward
Property, plant and equipment donated (Caricom)
Depreciation Charges
Balance carried forward
25,830,805
323,949
( 421,884)
25,732,870
2012
$
26,200,176
( 369,371)
25,830,805
The fund was established in 1984 and the initial balance represented the value of assets taken over from
the Government of Jamaica via the former 'Department of Statistics'.
9. Capital grants:
Included in this balance is an amount of $4,027,733 which represents a contribution received from the
Ministry of Finance towards the purchase of computer equipment.
10. Trade and other payables:
2013
$
Trade payables
Vacation Leave Accrued
Other
67,811,895
60,834,277
9,609,583
138,255,755
2012
$
63,700,021
63,235,475
16,023,117
142,958,613
Page 15
STATISTICAL INSTITUTE OF JAMAICA
NOTES TO THE FINANCIAL STATEMENTS - (CONT'D)
YEAR ENDED 31ST MARCH 2013
11. Projects and contracts:
2013
$
Balance at beginning of year
Receipts:
Cash
2012
$
100,030,905
73,518,984
51,167,276
1,500,633,200
56,474,217
6,962,724
19,980,252
1,134,526
1,710,956
1,044,769
6,549
87,313,993
991,439,834
204,821,579
187,659,626
16,319,472
29,222,871
2,944,483
23,032
1,432,430,898
Payments:
Compensation of employees
Travelling and subsistence
Purchase of goods and other services
National Insurance Scheme
National Housing Trust
Depreciation
Finance Charge
Net (Deficit)/surplus for year
(36,146,717)
68,202,302
Transfer of surplus on closed projects
(13,676,159)
(41,690,381)
50,208,030
100,030,905
Balance at end of year
During the period between April and December 2011, Population and Housing Census contributed to the
significant increase in payments.
12. Government grants:
This represents the cash received from the government of Jamaica for operational activities.
Page 16
STATISTICAL INSTITUTE OF JAMAICA
NOTES TO THE FINANCIAL STATEMENTS - (CONT'D)
YEAR ENDED 31ST MARCH 2013
13. Other income:
2013
$
Interest income
Publications and subscriptions
Revenue Maps
Gain on foreign exchange
Miscellaneous
1,032,481
573,598
329,109
5,881,023
3,801,266
11,617,477
2012
$
1,043,561
1,098,716
224,175
863,533
2,417,635
5,647,620
14. Expenses:
2013
$
Compensation of employees
National Insurance Scheme
National Housing Trust
Group Life Insurance
Pension
Travelling and subsistence
Electricity
Telephone
Water
Purchase of goods and other services
Rent
Directors' fees
Auditors' remuneration
Depreciation
Security
Training
408,349,896
7,585,156
12,123,322
5,743,846
34,700,357
70,322,691
26,512,456
1,827,525
196,474
24,244,132
70,475,887
390,000
1,540,000
29,822,205
2,532,741
878,331
697,245,019
2012
$
436,075,329
8,326,477
13,107,960
4,994,512
31,735,472
56,696,667
24,979,143
2,770,404
140,158
20,042,758
64,109,973
275,000
1,540,000
31,778,301
2,543,613
651,573
699,767,341
14. Taxation:
The Institute is exempt from income tax, stamp duty and taxation under the Transfer Tax Act, by
virtue of Section 3 (J) of the Statistics Act.
15. Pension:
The Institute participates in a defined contribution Pension Plan for its employees which is administered
by Life of Jamaica Limited, now Sagicor Life Jamaica Limited. The Plan is funded by contributions
from employees and employer. Pension benefits are based on contributions plus accumulated interest.
The Institute's contribution during the year amounted to $33,227,676 (2012 - $31,735,472).
Page 17
STATISTICAL INSTITUTE OF JAMAICA
NOTES TO THE FINANCIAL STATEMENTS - (CONT'D)
YEAR ENDED 31ST MARCH 2013
16. Financial Instruments & Financial Instruments Risk Management:
A financial instrument is a contract that gives rise to both a financial asset of one enterprise and a financial
liability of another enterprise. For the purpose of the financial statements, financial assets have been
determined to include cash and cash equivalents and trade and other receivables. Financial liabilities have
been determined to include trade and other payables.
The activities of the Institute expose it to certain financial risks which require evaluation, acceptance and
management. Operational risks are an inevitable consequence of being in business. The Board of
Directors aims to achieve an appropriate balance between risk and return and thereby minimising any
potential adverse effects on the Institute's financial performance. The Board of Directors is responsible to
the Ministry of Finance and Planning as the operations of the Institute now falls under the ambit of that
Ministry.
The main types of risks to which the Institute is exposed are credit risk, liquidity risk and market risk.
Market risk is further broken down into interest rate risk and currency risk The management policies of the
Institute are designed to identify and analyse these risks, to set up appropriate controls, and to monitor the
risks by means of up-to-date information.
The Director General has overall responsibility for the day to day management and operation of the
Institute. Through its various divisional heads, the functions of the Institute are carried out. The internal
control procedures of the Institute are further enhanced by the Internal Audit function that reports directly
to the Board of Directors.
(a) Credit risk
The Institute is exposed to credit risk, which is the risk that its customers, or counter-parties will cause
a financial loss for the Institute by failing to discharge their contractual obligations. The Institute's
exposure to credit risk is considered minimal as only 0.9% (2012: 1%) is earned through invoicing of
customers. Also, the trade receivables represent only 6% of current assets (2012 - 1.1%) Management
however carefully manages its exposure to credit risk in order to minimise losses. The accounts
department ensures that amounts billed are collected on a timely basis and where amounts are
considered doubtful or uncollectible, the necessary provisions or write off are done after careful review
and approval by the Board of Directors.
Credit Review Process
The Institute has established a credit quality review process and has credit policies and procedures
which require regular analysis of the ability of counter-parties to meet their repayment obligations.
Page 18
STATISTICAL INSTITUTE OF JAMAICA
NOTES TO THE FINANCIAL STATEMENTS - (CONT'D)
YEAR ENDED 31ST MARCH 2013
16. Financial Instruments & Financial Instruments Risk Management (cont'd):
(a) Credit risk (Cont'd)
Maximum Exposure to Credit Risk
Trade receivables
Other Receivables
Cash and Cash Equivalents
2013
$
2012
$
8,042,053
4,851,466
113,252,881
126,146,400
2,964,998
5,746,090
249,125,543
257,836,631
(i) Trade Receivables
Trade receivable balances are not considered high risk. Management closely monitors its
customers to minimise the level of bad debts. The Institute has established a credit quality review
process and has instituted credit policies and procedures which require regular analysis of the
ability of debtors to meet their obligations.
(ii ) Other Receivables
Other receivables includes the $3,000,000 motor revolving loan, amounts recoverable from the
revenue authorities with regard to General Consumption Tax and Withholding Tax, staff loans and
other miscellaneous amounts. Credit risk with respect to these items is considered low.
(iii) Cash and Cash Equivalents
Cash and cash equivalents comprise current and savings accounts, and deposits held with financial
institutions. The Institute limits its exposure to credit risk by placing its cash and cash equivalents
with counter-parties that have high credit quality. Accordingly, management does not expect any
counter-party to fail to meet its obligations.
There has been no change in the Institute's exposure to credit risks or the manner in which it measures
and manages the risk.
Page 19
STATISTICAL INSTITUTE OF JAMAICA
NOTES TO THE FINANCIAL STATEMENTS - (CONT'D)
YEAR ENDED 31ST MARCH 2013
16. Financial Instruments & Financial Instruments Risk Management (cont'd):
(b) Liquidity risk
Liquidity risk is the risk that an enterprise will encounter difficulty in raising funds to meet
commitments associated with financial liabilities when they fall due and to replace funds when they are
withdrawn. The consequence may be the failure to meet obligations to creditors and also to complete
projects.
The income generated by the Institute represents only 4 % (2012 - 8%) of total income. If the Institute
was totally dependent on internally generated income, it would have faced liquidity risk in that regard.
The Institute however, is funded mainly by Government Subvention which is pre-determined in the
fiscal budget. Total income is usually sufficient to cover expenses. At 31st March 2013, the Institute's
current liabilities exceeded its current assets by $55,635,891 (2012 - $20,504,926).
Liquidity management process
The Institute's liquidity management process, as carried out within the Institute and monitored by the
Accounts Department, includes:
(i) Monitoring future cash flows and liquidity on a daily basis. This incorporates an assessment of
expected cash flows in relation to payment obligations.
(ii) Monitoring Balance Sheet Liquidity ratios against internal requirements. The most important of
these is to maintain limits on the ratio of net liquid assets to customer liabilities.
There has been no change in the Institute's liquidity risk or the manner in which it measures and
manages the risk.
Page 20
STATISTICAL INSTITUTE OF JAMAICA
NOTES TO THE FINANCIAL STATEMENTS - (CONT'D)
YEAR ENDED 31ST MARCH 2013
16. Financial Instruments & Financial Instruments Risk Management (cont'd):
(b) Liquidity risk (Cont'd)
The following are the contractual maturities of financial assets and liabilities including interest
payments as at:
31st March 2013
Carrying
Amount and
Contractual
Cash Flow
0 - 6 months
6 - 12 months
No specific
maturities
$
$
$
$
Trade and other receivables
Trade
8,042,053
Other
4,851,466
Prepayments
Cash and cash equivalents
8,042,053
-
72,936
4,778,530
5,145,757
113,252,881
5,145,757
-
-
113,252,881
131,292,157
13,187,810
72,936
118,031,411
67,811,895
67,811,895
-
70,443,860
50,208,030
9,560,365
50,208,030
-
60,883,495
-
188,463,785
127,580,290
-
60,883,495
(57,171,628)
(114,392,480)
72,936
57,147,916
Trade and other payables
Trade
Accruals/other payables
Projects & contracts
Net Current (Liabilities)/Assets
-
Page 21
STATISTICAL INSTITUTE OF JAMAICA
NOTES TO THE FINANCIAL STATEMENTS - (CONT'D)
YEAR ENDED 31ST MARCH 2013
16. Financial Instruments & Financial Instruments Risk Management (cont'd):
(b) Liquidity risk (Cont'd)
The following are the contractual maturities of financial assets and liabilities including interest
payments as at:
31st March 2012
Carrying
Amount and
Contractual
Cash Flow
0 - 6 months
6 - 12 months
No specific
maturities
$
$
$
$
Trade and other receivables
Trade
2,964,998
Other
5,746,090
Prepayments
Cash and cash equivalents
Trade and other payables
Trade
Accruals/other payables
Projects and contracts
Net Current Assets/(Liabilities)
2,964,998
-
230,523
-
5,515,567
3,921,735
249,125,543
3,921,735
-
261,758,366
6,886,733
63,700,021
63,700,021
-
79,258,592
100,030,905
15,973,899
100,030,905
-
63,284,693
-
242,989,518
179,704,825
-
63,284,693
18,768,848
(172,818,092)
230,523
230,523
249,125,543
254,641,110
-
191,356,417
(c) Market Risk
Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate as a result
of changes in market prices. This arises mainly from changes in interest rates, foreign currency rates and equity
prices. The Institute's operations are impacted by changes in interest rates and foreign currency movements, but
not by changes in equity prices. The effect of these changes however, are not considered significant. The
objective of market risk management is to monitor and control market risk exposures within acceptable
parameters, while optimising the return on investments. Market risk exposures are measured using sensitivity
analyses.
Page 22
STATISTICAL INSTITUTE OF JAMAICA
NOTES TO THE FINANCIAL STATEMENTS - (CONT'D)
YEAR ENDED 31ST MARCH 2013
16. Financial Instruments & Financial Instruments Risk Management (cont'd):
(c) Market Risk (cont'd)
(i) Interest rate risk
Interest rate risk arises when the value of a financial instrument fluctuates during a specified period due to
changes in the market interest rates.
The Institute is exposed to interest rate risk in respect of its cash on deposit and foreign currency savings
account. The Institute manages this risk by maintaining net earning assets and procuring the most
advantageous interest rates. It also has a policy which requires that the maturities of interest-bearing
financial instruments are closely monitored.
Financial Assets
The Institute's fixed deposit accounts are used to secure bank guarantees issued to landlords while the
savings accounts are used to settle foreign currency liabilities. The interest rates on fixed deposits are
based on contractual arrangements and are therefore not affected by short term fluctuations in the market
interest rates. The interest rates paid on savings accounts will fluctuate from time to time but are usually
reflective of the market conditions.
At the reporting date, the interest rate profile of the Institute's interest-bearing financial instruments were:
Interest Rate
%
2013
$
Interest Rate
%
2012
$
J$ Bank balances
Guarantee Account
Fixed Deposit
5.55- 6.00
0.75
12,206,483
84,584
5.75- 6.00
53,340,697
65,631,764
1.6
2.7
11,205,798
83,246
US$ Bank balances
Retained Account -Main
0.5
51,525,975
62,815,019
Financial Liability
The Institute has no interest-bearing liability and therefore is not exposed to interest rate risk in this regard.
Page 23
STATISTICAL INSTITUTE OF JAMAICA
NOTES TO THE FINANCIAL STATEMENTS - (CONT'D)
YEAR ENDED 31ST MARCH 2013
16. Financial Instruments & Financial Instruments Risk Management (cont'd):
(c) Market Risk (cont'd)
(i) Interest rate risk (cont'd)
Interest rate sensitivity
There have been insignificant movements in the Interest rates over the last reporting date. A one percent
(1%) (2012 - one percent (1%) ) movement in interest rate at the reporting date would have
increased/(reduced) the reported (deficit)/surplus and accumulated fund by the amounts shown below:
2013
$
2012
$
J$ Bank balances
Guarantee Account
Fixed Deposit
122,065
846
112,058
832
533,407
656,318
515,260
628,150
US$ Bank balances
Retained Account -Main
Increase/decrease in deficit/surplus and accumulated fund
Effective February 25, 2013 the interest rate payable on Bank of Jamaica 30-days Certificate of Deposit
was reduced by 50 basis points from 6.25% to 5.75%. The rate movement subsequent to the year end is
expected to be insignificant as there has been some amount of stabilizing of the rates.
This analysis assumes that all other variables, in particular exchange rates, remain constant.
(ii) Foreign currency risk
Foreign currency risk is the risk that the market value of, or the cash flows from financial instruments will
vary because of exchange rate fluctuations. The Institute is exposed to foreign currency risk due to
fluctuations in exchange rates on transactions and balances that are denominated in currencies other than
the Jamaican dollar. A foreign currency bank account is maintained at a level which partially meets
foreign currency obligations. The Institute is a net expender of foreign currency.
Page 24
STATISTICAL INSTITUTE OF JAMAICA
NOTES TO THE FINANCIAL STATEMENTS - (CONT'D)
YEAR ENDED 31ST MARCH 2013
16. Financial Instruments & Financial Instruments Risk Management (cont'd):
(c) Market Risk (cont'd)
(ii) Foreign currency risk (cont'd)
The Institute’s foreign currency asset at the reporting date is as follows:
Cash and Cash Equivalents:
2013
US$
544,652
United States dollar
2012
US$
592,724
Sensitivity analysis
Exchange rates in terms of Jamaican Dollars which is the Institute's reporting currency, were as
follows:
US$
31st May 2013
31st March 2013
31st March 2012
98.66
97.94
87.30
Over the period March 2012 to March 2013 there was a 12.21% depreciation of the Jamaican
dollar against the US dollar. Between March 2013 and May 2013 there has been a further 1%
depreciation of the Jamaican dollar against the US dollar.
The appreciation/depreciation of the Jamaican dollar to the extent shown against the United States
dollar would have reduced/increased income and equity by the amounts shown below.
Movement
%
United States dollar
2
2013
J$
1,066,813
Movement
%
1.5
2012
J$
776,172
The analysis is computed on the same basis for 2012 and assumes that all other variables, in
particular, interest rates, remain constant.
Page 25
STATISTICAL INSTITUTE OF JAMAICA
NOTES TO THE FINANCIAL STATEMENTS - (CONT'D)
YEAR ENDED 31ST MARCH 2013
16. Financial Risk Management (Cont'd):
(c) Market Risk (cont'd)
(ii) Foreign currency risk (cont'd)
It is not anticipated that any appreciation of the Jamaican dollar against the major currencies would
be to any significant extent and this should therefore have marginal adverse effect on the Institute's
foreign currency financial instruments. In fact, it is predicted that any such movement in the US
dollar would be between 2% and 5%. Should there be an appreciation of the Jamaican dollar
against the United States Dollar by say, 2% this would increase/reduce deficit/surplus and
accumulated fund as shown below:
Movement
%
United States dollar
2
2013
J$
1,066,813
2012
J$
1,034,896
The analysis assumes that all other variables, in particular, interest rates, remain constant. The
analysis is performed on the same basis for 2012.
(d) Fair value:
Fair value is the amount for which an asset could be exchanged or a liability settled between
knowledgeable, willing parties in an arm's length transaction.
The carrying value of each class of financial instrument approximates to its fair value.
(e) Capital Management:
The main objectives of the Board when managing capital are to safeguard the ability of the Institute to
continue as a going concern and to ensure that there are adequate revenue reserves. The Board of
Directors and the Director General monitor and maintain an appropriate balance between revenue and
expenditure to ensure that the subvention received is used only for intended purposes and that adequate
levels of liquidity is maintained. There is also close monitoring of the projects undertaken by the
Institute to ensure that are no cost overruns, or that such overruns are kept to a minimum.
There were no changes to the Institute's approach to capital management during the year.
The Institute's capital comprises:
2013
$
Capital fund
Capital grants
General reserve fund
2012
$
25,732,870
4,589,773
(41,731,764)
25,830,805
4,589,773
50,684,487
(11,409,121)
81,105,065
SCHEDULE 1- MAIN FUNCTIONS OF THE INSTITUTE
VISION
“To be a learning organization that is on the cutting edge of technology and is responsive to the
needs of our clients.”
MISSION
“To provide relevant, timely and accurate statistical information and technical services, consistent
with international standards, to national and international clients.”
LEGAL AUTHORITY
I.
The Statistical Institute of Jamaica was established under the Statistics (Amendment)
Act 1984 on April 9, 1984. The Institute has been invested with all the powers formerly
vested in the Department of Statistics and previously the Bureau of Statistics (which
came into existence in 1946) along with other powers.
2.
In accordance with Section 3 of the Act, the main functions of the Institute are:
(a) to collect, compile, analyse, abstract and publish statistical information relating to
the commercial, industrial, social, economic and general activities and condition of
the people;
(b) to collaborate with public agencies in the collection, compilation and publication of
statistical information including statistical information derived from the activities of
such agencies;
(c) to take any census in Jamaica; and
(d) generally to promote and develop integrated social and economic statistics
pertaining to Jamaica and to coordinate programmes for the integration of such
statistics, in accordance with the provisions of this Act.
3.
For the purpose of discharging its, function, the Institute may, subject to the provisions
of this Act, collect information either by way of a census or any other enquiry, from any
agency, public or private, as is considered necessary for the performance of its duties.
4.
The Institute may, under the Act, and with the approval of the Minister, enter into
arrangements with public agencies to provide the services of collection, compilation,
analysis and abstraction of data, provided that the data are collected as a part of the
work of the agency, either wholly or in conjunction with programmes controlled by the
Government.
5.
The Institute may also collect information jointly with another public or private agency
or on behalf of such agency, provided that the suppliers of the information collected are
notified in writing and offer no objections.
SCHEDULE 2 – LOCATION OF THE FIELD OFFICES OF THE INSTITUTE
Field Offices
Parish
Address
Kingston/St. Andrew & Shop 60-62 Kingston
West St. Thomas
Mall Ocean Blvd.
Kingston
Telephone
Fax
(876) 967-2688/9
Clarendon
16A Manchester
Avenue, May Pen
(876) 986-2460
(876) 902-5188
Manchester/South
Trelawny
Caledonia Annex
Building
Shop 56 Caledonia
Mall, 7B Caledonia
Road, Mandeville
(876) 962-2885
St. Elizabeth
1 Brigade Street, Black
River
(876) 965-2226
Westmoreland
Floor 2, Victoria Mutual
Building, 123 Great
George Street,
Savanna-la-Mar
(876) 955-2591
St. James/North
Trelawny/Hanover
Shop 32, Overton
Plaza, Montego Bay
(876) 952-2021
St. Ann/West and
Central St. Mary
Floor 2, 41 Main Street,
St. Ann’s Bay
(876) 972-2418
St. Catherine
Shop 9, 9 King Street
Linstead
(876) 985-2417
Portland/East St.
Thomas & South East
St. Mary
Turner Plaza, 21
Harbour Street, Port
Antonio
(876) 993-2624
(876) 965-9661
(876) 985-6502