GOVERNMENT OF TUVALU. August 2016

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1 TUVALU TREASURY GOVERNMENT OF TUVALU MONTHLY REPORTING DASHBOARD August 2016

2 Millions Government of Tuvalu Expenditure Analysis Annual Trends of Major Government Expenditures Current Year to Date Expenditures () $20 $18 Personnel Costs Grants and Subsidies (incl. Scholarship Support) Travel Maintenance, Fuel, Electricity & Communications Other expenses Tuvalu Medical Treatment Scheme Fuel, Electricity and Communications, $1,562,572, 4% Other expense, $3,978,631, 10% Maintenance, $5,884,827, 15% Tuvalu Medical Treatment Scheme, $1,915,118, 5% $16 $14 Travel, $2,181,337, 6% Loan Repayments & Bank Fees, $662,704, 2% $12 $10 $ $6 $4 Contributions to Tuvalu National Provident Fund, $922,091, 2% Special Development Expenditures, $1,408,735, 4% $2 Grants and Subsidies (incl. Scholarship Support), $8,782,733, 23% Wages, Salaries and Allowances, $10,850,473, 29% $70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $3,500,000 Total Expenditure Tuvalu Medical Treatment Scheme $25,000,000 $15,000,000 $700,000 $600,000 $400,000 $300,000 $200,000 $100,000 Salaries and TNPF Loan Repayments Travel Maintenance and Fuel $4,500,000 $3,500,000 Special Development Expenditures $16,000,000 $14,000,000 $12,000,000 $8,000,000 $6,000,000 Grants and Subsidies

3 Millions Government of Tuvalu Revenue Analysis $30 Annual Trends of Major Government Revenue Interest, Dividends & Rent, $1,902,256, 4% Current Year to Date Revenue Collect () Other Income, $1,056,487, 2% Taxation, $2,489,099, 7% $25 Dot TV, $3,208,217, 8% $20 $ $10 Fisheries Licenses, $23,721,733, 58% $5 -$5 Axis Title Dot TV External Assistance & Grant Fisheries Licenses Interest, Dividends & Rent Other Income Taxation Trust Fund Distribution External Assistance & Grant, $9,875,163, 24% $70,000,000 $60,000,000 $50,000,000 Total Revenue $14,000,000 $12,000,000 External Assistance & Grants $6,700,000 $6,180,000 $5,660,000 $5,140,000 Dot TV $40,000,000 $8,000,000 $4,620,000 $30,000,000 $6,000,000 $4,100,000 $3,580,000 $3,060,000 $2,540,000 $- Jan Feb Mar Apr may Jun Jul Aug Sep oct Nov Dec $2,020,000 Fisheries Other Income Taxation Interest and Dividends $35,000,000 $8,000,000 $30,000,000 $25,000,000 $15,000,000 $7,000,000 $6,000,000 $- $-

4 MONTHLY STATEMENT OF RECEIPTS AND PAYENTS BY NATURE OF EXPENSE FOR THE PERIOD ENDED 31/08/2016 Year to Date Year to Date Year to Date January February March April May June July August September October November December + Forecast 2016 Variance & Supplementary Variance Forecast Forecast Forecast Forecast Full Year Full Year RECEIPTS Taxation Income Tax 1,292,608 1,063, , , , , , , , , , , , , ,997 1,824,596 1,595, ,633 Company Tax 706, , , ,561 3, , , ,000, ,046,121 2,700, ,121 Tuvalu Consumption Taxes 951, , , , , , , , , , ,992 93,621 93,621 93,621 93,621 1,325,576 1,123, ,126 Import Duty & Excise 1,265,100 1,044, , , , , , , , , , , , , ,521 1,787,186 1,566, ,929 Import Levy 104,367 84,909 19,459 13,270 9,563 15,360 12,671 14,619 14,414 13,444 11,026 10,614 10,614 10,614 10, , ,363 19,459 Other Taxes 27, ,667 (106,213) 3,194 3, ,100 6,623 3,210 1,253 7,437 16,708 16,708 16,708 16,708 94, ,500 (106,213) 4,346,743 3,435, , , , , , , , , , , ,461 2,384, ,461 8,224,587 7,313, ,054 Interest, Dividends and Rent Interest and Dividends 1,632, , ,579 (261,151) 18, , , ,709 (154,154) 418, , ,667 51,667 1,435,529 51,667 3,473,441 2,503, ,579 Lease, rent and hire 269, ,407 8,937 52,452 8,559 42,420 49,749 28,640 51,778 19,642 16,105 32,551 32,551 32,551 32, , ,611 8,937 1,902, , ,516 (208,700) 26, , , ,349 (102,376) 438, , ,218 84,218 1,468,080 84,218 3,872,989 2,894, ,516 Other Government Charges Fisheries Licenses 28,806,030 21,711,644 7,094,386 14,674,907 5,162, ,999 3,722, ,184 1,069,435 3,124, ,469 1,926,455 4,026,455 1,926,455 1,926,455 38,611,851 31,517,465 7,094,386 Vessel Registrations 684, , , , , ,901 1, ,651 Marine Services (Nivaga II & Manu Folau) 449, , ,693 62,691 66,596 49,994 62,798 63,407 44,055 35,358 64,461 33,333 33,333 33,333 33, , , ,693 Stevedoring and Wharfage 234, ,000 62,873 29,556 30,139 27,585 37,071 64,466 8,867 19,239 17,951 21,500 21,500 21,500 21, , ,000 62,873.TV 4,799,686 4,753,521 46,164 1,628, ,580, ,591, ,584, ,384,193 6,338,028 46,164 Provision of Goods and Services 351, ,954 (118,256) 61,430 40,132 19,553 79,720 36,617 32,059 60,444 21,742 58,744 58,744 58,744 58, , ,930 (118,256) Other Charges 230, ,761 (45,195) 24,207 17,927 13,679 21,307 24,620 81,696 16,503 30,627 34,470 34,470 34,470 34, , ,641 (45,195) 35,556,695 27,650,379 7,906,316 16,684,177 5,317, ,810 5,746, ,294 1,236,112 5,085, ,251 2,074,607 5,759,114 2,074,607 2,074,607 47,539,631 39,633,315 7,906,316 External Assistance and Grants ROC 4,539,740 6,272,300 (1,732,560) 0 0 4,539, ,127 21,127 21,127 3,072,771 7,675,891 9,408,451 (1,732,560) AusAID (CIF) 1,500, ,500, ,500, ,500, ,000,000 1,500,000 1,500,000 New Zealand (CIF) , , ,000 0 World Bank, IMF, ADB 4,313, ,313, ,313, ,313, ,313,486 PDF 0 104,000 (104,000) ,000 13,000 13,000 13,000 52, ,000 (104,000) Other Donors 111, ,939 48, ,440 2,618 6,864 69,476 (23,426) , ,939 10,465,165 6,376,300 4,088,865 48, ,547,180 2,618 6,864 5,882,962 (23,426) 0 34,127 2,034,127 34,127 3,085,771 15,653,316 11,564,451 4,088,865 TTF Distribution to CIF 0 4,780,000 (4,780,000) ,780,000 (4,780,000) Total Receipts 52,270,860 43,166,109 9,104,751 16,968,104 6,107,396 5,788,318 7,043,975 1,490,184 7,545,144 5,912,847 1,414,891 3,167,413 8,261,920 5,961,275 5,629,057 75,290,523 66,185,772 9,104,751 PAYMENTS Operations Wages, Salaries, and Employee Benefits 10,850,473 18,019,747 7,169,274 1,155,075 1,348,582 1,309,082 1,409,005 1,288,555 1,865,540 1,314,144 1,160,491 1,531,273 1,531,273 1,531,273 1,531,273 16,975,565 18,375,277 1,399,712 Contributions to Tuvalu National Provident Fund 922,091 1,577, ,932 90, , , , , , , , , , , ,395 1,451,671 1,588, ,071 Travel 2,181,337 3,375,902 1,194,565 63, , , , , , , , , , , ,249 3,114,334 2,798,990 (315,344) Telephone and Internet 103, , ,707 14,232 13,901 17,089 12,448 17,510 10,580 1,388 16,026 15,234 15,234 15,234 15, , ,807 18,698 Maintenance 5,884,827 9,186,360 3,301,533 66,502 5,076, , ,865 57,704 82, , , , , , ,715 7,043,020 9,313,580 2,270,560 Advertising and Provisions 666,995 1,170, ,135 42, , ,371 47,901 91,867 81,942 56,419 74,325 98, ,167 98,355 98,355 1,067,227 1,187, ,844 Fuel and Oil 1,022,147 1,225, , ,832 73, , , ,510 91, ,948 92,666 97,475 97,475 97,475 97,475 1,412,048 1,169,701 (242,347) Supplies and Equipment 1,473,416 3,696,875 2,223, , ,552 94, , , , , , , , , ,349 2,735,267 3,032, ,882 Electricity 441, , ,299 (11,873) 46,253 80,701 9, ,153 16,766 21, ,749 80,541 80,541 80,541 80, , , ,569 Senior Citizen Scheme / Pension 269, , ,931 37,860 47,867 24,677 25,389 25,142 24,388 55,848 28,619 31,823 31,823 31,823 31, , ,678 20,595 TMTS (Tuvalu Medical Treatment Scheme) 1,915,118 3,082,294 1,167, , ,450 51, , , , , , , , , ,333 2,916,451 3,004,000 87,548 Land & Property Rent 866,203 1,140, ,967 27,029 26, ,258 17,949 31,658 17,418 10,874 7,478 32,227 62,227 32,227 32,227 1,025,113 1,132, ,402 26,597,332 44,044,845 17,447,513 2,120,369 7,484,646 3,137,603 2,628,683 2,727,479 3,539,138 2,525,337 2,434,077 3,258,339 3,145,558 3,038,616 3,025,970 39,065,814 43,169,007 4,103,193 Grants and Subsidies Grants and Subsidies 2,812,102 4,482,526 1,670, , , , , , , , , , , , ,055 4,356,625 4,455,671 99,046 Outer Island Projects (SDE) 2,284,584 2,880, , ,560 41,536 84, , , ,230 17, , , , , ,000 3,244,584 2,880,000 (364,584) Other SDEs 697,717 3,590,374 2,892, (100) 0 59,179 35, ,528 1,673,533 1,044,503 1,044, ,460,257 3,772,540 (687,717) Scholarships and Support 3,228,256 5,908,342 2,680, , , , , , , , , , , , ,722 5,059,144 6,042, ,521 Contribution to Japan Grant Counterpart Fund 15, , , , , , ,847 Overseas Contributions 442, , ,961 69, ,029 18,133 7,640 37,173 4,009 20,692 8, , , ,800 9,480,450 18,106,841 8,626,390 1,700,029 1,241,054 1,163,783 1,260, ,583 1,470, ,723 1,287,922 2,776,145 1,995,104 2,089,924 1,236,777 17,578,401 18,423, ,913 Loans and Interest Interest and Bank Charges 20, , ,921 2,045 4,119 2,675 2,207 1,811 3,214 2,256 2,331 18,007 18,007 18,007 18,007 92, , ,795 Loan Repayment 642, ,681 1, , , , , , ,281 (180,419) 662, , ,555 2, ,012 2,675 2,207 11,211 3,214 2, , ,659 18,007 18,007 18, , ,759 (12,624) Capital Expenditures Purchase/construction of assets 1,408,735 13,048,431 11,639,696 94,140 38,354 81,281 51,329 30,835 81,501 55, , , , , ,218 3,637,816 4,931,662 1,293,846 1,408,735 13,048,431 11,639,696 94,140 38,354 81,281 51,329 30,835 81,501 55, , , , , ,218 3,637,816 4,931,662 1,293,846 Transfer to TTF 0 4,780,000 4,780, ,780,000 4,780,000 Total Payments 38,149,222 80,855,376 42,706,154 3,916,583 9,097,064 4,385,342 3,943,023 3,345,108 5,094,405 3,363,664 5,004,032 6,843,362 5,747,093 5,670,766 4,784,972 61,195,415 72,204,743 11,009,328 NET SURPLUS / (DEFICIT) 14,121,638 (37,689,268) 51,810,906 13,051,521 (2,989,669) 1,402,975 3,100,952 (1,854,924) 2,450,739 2,549,183 (3,589,140) (3,675,949) 2,514, , ,084 14,095,109 (6,018,971) 20,114,079 FORECAST CASH POSITION $M Consolidated Investment Fund 35,240,122 General Current Account 2,489,873 Forecast &

5 MONTHLY STATEMENT OF RECEIPTS AND PAYENTS BY NATURE OF EXPENSE FOR THE PERIOD ENDED 31/08/2016 Year to Date Year to Date Year to Date 2016 Variance RECEIPTS Taxation Income Tax 1,292,608 1,063, ,633 1,595,963 Company Tax 706, , ,121 2,700,000 Tuvalu Consumption Tax 951, , ,126 1,123,450 Import Duty & Excise 1,265,100 1,044, ,929 1,566,257 Import Levy 104,367 84,909 19, ,363 Other Taxes 27, ,667 (106,213) 200,500 4,346,743 3,435, ,054 7,313,533 Interest, Dividends and Rent Interest and Dividends 1,632, , ,579 2,503,862 Lease, rent and hire 269, ,407 8, ,611 1,902, , ,516 2,894,473 Other Government Charges Fisheries Licenses 28,806,030 21,711,644 7,094,386 31,517,465 Vessel Registrations 684, ,651 1,250 Marine Services (Nivaga II & Manu Folau) 449, , , ,000 Stevedoring and Wharfage 234, ,000 62, ,000.TV 4,799,686 4,753,521 46,164 6,338,028 Provision of Goods and Services 351, ,954 (118,256) 704,930 Other Charges 230, ,761 (45,195) 413,641 35,556,695 27,650,379 7,906,316 39,633,315 External Assistance and Grants ROC 4,539,740 6,272,300 (1,732,560) 9,408,451 AusAID (CIF) 1,500, ,500,000 1,500,000 New Zealand (CIF) ,000 World Bank, IMF, ADB 4,313, ,313,486 0 PDF 0 104,000 (104,000) 156,000 Other Donors 111, , ,465,165 6,376,300 4,088,865 11,564,451 TTF Distribution to CIF 0 4,780,000 (4,780,000) 4,780, ,780,000 (4,780,000) 4,780,000 Total Receipts 52,270,860 43,166,109 9,104,751 66,185,772 PAYMENTS Operations Wages, Salaries, and Employee Benefits 10,850,473 18,019,747 7,169,274 18,375,277 Contributions to Tuvalu National Provident Fund 922,091 1,577, ,932 1,588,743 Travel 2,181,337 3,375,902 1,194,565 2,798,990 Telephone and Internet 103, , , ,807 Maintenance 5,884,827 9,186,360 3,301,533 9,313,580 Advertising and Provisions 666,995 1,170, ,135 1,187,071 Fuel and Oil 1,022,147 1,225, ,536 1,169,701 Supplies and Equipment 1,473,416 3,696,875 2,223,459 3,032,149 Electricity 441, , , ,495 Senior Citizen Scheme / Pension 269, , , ,678 TMTS (Tuvalu Medical Treatment Scheme) 1,915,118 3,082,294 1,167,176 3,004,000 Land & Property Rent 866,203 1,140, ,967 1,132,516 26,597,332 44,044,845 17,447,513 43,169,007 Grants and Subsidies Grants and Subsidies 2,812,102 4,482,526 1,670,423 4,455,671 Outer Island Projects (SDE) 2,284,584 2,880, ,416 2,880,000 Other SDEs 697,717 3,590,374 2,892,657 3,772,540 Scholarships and Support 3,228,256 5,908,342 2,680,086 6,042,665 Contribution to Japan Grant Counterpart Fund 15, , , ,847 Overseas Contributions 442, , , ,592 9,480,450 18,106,841 8,626,390 18,423,315 Loans and Interest Interest and Bank Charges 20, , , ,478 Loan Repayment 642, ,681 1, , , , , ,759 Capital Expenditures Purchase/construction of assets 1,408,735 13,048,431 11,639,696 4,931,662 1,408,735 13,048,431 11,639,696 4,931,662 Transfer to TTF 0 4,780,000 4,780,000 4,780, ,780,000 4,780,000 4,780,000 Total Payments 38,149,222 80,855,376 42,706,154 72,204,743 NET SURPLUS / (DEFECIT) 14,121,638 (37,689,268) 51,810,906 (6,018,971)

6 MONTHLY STATEMENT OF RECEIPTS AND PAYMENTS BY DEPARTMENT For the Period Ended 31/08/2016 Approved on Cash Basis MINISTRY Year to Date Year to Date Year to Date Variance 2016 Variance YTD and 2016 RECEIPTS B Office of the Prime Minister 178, ,567 (6,833) 278,350 (99,616) C Legal Services 21,959 49,367 (27,408) 74,050 (52,092) E Office of the Auditor General 39,083 43,000 (3,917) 64,500 (25,417) F Finance and Economic Development 16,095,106 10,328,806 5,766,301 19,778,210 (3,683,103) G Public Utilities 56,127 77,200 (21,073) 115,800 (59,673) H Health 8,276 10,000 (1,724) 15,000 (6,724) I Natural Resources 29,377,808 21,875,944 7,501,864 33,147,777 (3,769,969) J Home Affairs 30,395 27,550 2,845 41,325 (10,930) K Police and Prison Services 21,572 33,600 (12,028) 50,400 (28,828) L Transport and Communications 6,390,974 5,477, ,006 7,424,699 (1,033,724) M Education, Youth and Sports 16,045 33,333 (17,288) 50,000 (33,955) N Judiciary 4,751 3, ,750 (999) O Foreign Affairs, Trade, Tourism, Environment & Labour 30, ,941 (209,911) 359,912 (329,882) Total Receipts 52,270,860 38,386,109 13,884,751 61,405,772 9,134,912 TTF Distribution to CIF 0 4,780,000 (4,780,000) 4,780,000 (4,780,000) 52,270,860 43,166,109 9,104,751 66,185,772 4,354,912 PAYMENTS A Office of the Governer General 252, ,929 41, ,220 (3,711) B Office of the Prime Minister 2,793,626 7,977,127 5,183,501 7,912,127 5,118,501 C Legal Services 257, , , , ,390 D Parliament 427, , , , ,470 E Office of the Auditor General 228, , , , ,536 F Finance and Economic Development 7,411,867 13,506,415 6,094,549 13,448,376 6,036,509 G Public Utilities 2,385,855 15,326,086 12,940,231 7,331,713 4,945,858 H Health 4,625,792 8,695,931 4,070,139 8,517,638 3,891,846 I Natural Resources 1,922,109 2,916, ,210 2,912, ,212 J Home Affairs 4,583,371 6,369,656 1,786,285 6,369,656 1,786,285 K Police and Prison Services 1,542,185 2,440, ,343 2,440, ,340 L Transport and Communications 3,506,898 5,073,237 1,566,339 5,073,238 1,566,340 M Education, Youth and Sports 6,390,024 12,751,976 6,361,952 12,710,732 6,320,708 N Judiciary 165, , , , ,250 O Foreign Affairs, Trade, Tourism, Environment & Labour 1,656,715 3,349,705 1,692,990 3,306,700 1,649,985 Total Payments 38,149,222 80,855,376 42,706,154 72,204,743 34,055,521 NET SURPLUS / (DEFECIT) 14,121,638 (37,689,268) 51,810,906 (6,018,971) 38,410,433