SEC's
FINANCIAL POSITION
During
FY 2000-2001 the Commission earned Tk.10.77 million and received Tk.20.16
million from the Government as grant ; in FY1999-2000 it was 6.79 million
and Tk. 24.63 million respectively.The Commission spent Tk 26.71 million
for revenue and capital purposes in FY2000-2001, as against Tk 26.93 million
during FY1999-2000. The Commission has a bank and cash balances of Tk 14.06
million on 30 June, 2001 as against Tk 9.83 million on 30 June 2000.
The
excess of income over expenditure during the financial year 2000-2001 amounted
to Tk 5.60 million. During FY 1999-2000 the excess of income over expenditure
was Tk 5.92 million.
| The
Commission has been established under the Securities and Exchange Commission
Act, 1993 on 8 June, 1993. The Commission commenced its operation formally
after inauguration on 14 November 1993. The Commission is responsible for
ensuring proper issuance of securities, regulation and development of capital
market, and protection of interests of the investors in securities. |
| Accounting
policies |
| -
The financial statements have been prepared under historical cost convention
on an accrual
basis
on the assumption that the Commission would continue to operate as a going
concern in
the
foreseeable future. |
| -
Fixed assets have been stated at cost less depreciation. Depreciation is
charged under 'straight
line
method' at the following rates : |
| Item
of fixed asset |
Rate
of depreciation
|
| Furniture
and fixtures |
10%
|
| Office
equipment |
15%
|
| Communication
equipment |
15%
|
| Air
conditioners |
15%
|
| Motor
vehicles |
20%
|
| Fifty
percent depreciation is charged in the year of acquisition. |
| -
General fund has been created out of excess of income over expenditure,
and utilized for
funding
acquisition of assets and/or revenue deficit of the Commission. |
SECURITIES
AND EXCHANGE COMMISSION
BALANCE
SHEET
for
the year 30 June, 2001
Taka
|
| |
Notes
|
30
June, 2001
|
30
June, 2000
|
| Fixed
assets |
1
|
1,00,10,016.86
|
98,44,294.28
|
| Current
assets: |
|
|
|
| Security
deposits receivable |
2
|
7,39,048.00
|
7,39,048.00
|
| House
Loan Advanced |
|
9,70,000.00
|
-
|
| Sundry
Advance |
|
2,13,345.00
|
40,015.00
|
| Prepaid
insurance |
|
2,02,074.00
|
1,74,663.00
|
| Investment-
CPF |
|
12,52,076.12
|
9,45,427.37
|
| Investment-
Gratuity
Investment
–GPF
Investment
- pension |
|
15,82,777.00
11,34,907.92 36,80,535.00
|
10,31,145.05
8,04,890.10 26,99,440.00
|
| Bank
and cash balances |
|
1,40,67,428.76
|
98,31,697.60
|
| Total
current assets |
|
2,38,42,191.80
|
1,62,66,326.12
|
| Total
assets |
|
3,38,56,208.66
|
2,61,10,620.40
|
| Financed
by: |
|
|
|
| General
fund |
3
|
2,57,71,564.62
|
2,01,64,044.88
|
| Creditors
and accruals |
4
|
4,34,348.00
|
4,65,673.00
|
| CPF
Fund |
|
12,52,076.12
|
9,45,427.37
|
| Gratuity
Fund
GPF
Fund
Pension |
|
15,82,777.00
11,34,907.92 36,80,535.00
|
10,31,145.05
8,04,890.10 26,99,440.00
|
| Total
fund and liabilities |
|
3,38,56,208.66
|
2,61,10,620.40
|
The
statements should be read in conjunction with the annexed notes.
SECURITIES
AND EXCHANGE COMMISSION
INCOME
AND EXPENDITURE ACCOUNT
For
the year ended 30 June, 2001
Taka
|
| Income: |
Notes
|
30
June, 2001
|
30
June, 2000
|
| Other
income |
5
|
1,07,77,943.95
|
67,91,800.00
|
| Grant
from the Government |
|
2,01,69,000.00
|
2,46,30,000.00
|
| Total
income |
|
3,09,46,943.95
|
3,13,91,800.00
|
| Expenditure: |
|
|
|
| Salaries,
allowances and bonus |
6
|
1,16,18,732.18
|
1,03,57,267.66
|
| Office
rent |
|
34,18,428.00
|
42,78,288.00
|
| Office
water and electricity |
|
8,14,390.80
|
7,69,692.95
|
| Telephone,
Fax, Internet, e-mail, web page |
|
7,98,098.63
|
6,92,808.16
|
| Postage |
|
88,753.00
|
81,606.12
|
| Printing
and stationery |
|
8,44,356.00
|
9,37,010.00
|
| Entertainment |
|
1,14,234.00
|
1,35,467.00
|
| Conveyance
& TA and DA |
|
72,713.40
|
3,04,265.90
|
| Board
meeting fees & Honorarium |
|
-
|
21,000.00
|
| Motor
vehicle repairs , fuel and Rent |
|
22,83,501.52
|
20,88,646.93
|
| Insurance |
|
2,41,142.00
|
2,18,286.00
|
| Office/electrical
repairs and maintenance |
|
1,54,992.63
|
1,16,445.00
|
| Cookeries
and cutleries |
|
2,945.00
|
13,005.00
|
| Other
expenses |
|
3,78,841.00
|
4,02,615.00
|
| Books
and periodicals |
|
6,241.00
|
39,330.53
|
| Telephone
installation |
|
56,123.00
|
78,230.00
|
| Depreciation |
1
|
21,14,633.00
|
23,25,818.85
|
| Subscription |
|
3,66199.00
|
3,46,469.00
|
| Liveries |
|
61,252.00
|
40,600.00
|
| News
paper |
|
87,323.00
|
1,15,052.00
|
| Office
supplies |
|
4,058.00
|
15,121.00
|
| Advertisement
& publication |
|
9,04,665.68
|
1,74,985.17
|
| Training,
Educatiuon & Research |
|
3,16,542.00
|
1,500.00
|
| Bank
charge |
|
25.00
|
443.00
|
| Legal
expenses |
|
3,65,000.00
|
10,19,569.00
|
| Expenses
of Inquiry report |
|
2,30,234.37
|
3,94,688.00
|
| Total
expenses |
|
2,56,37,797.21
|
2,54,71,065.44
|
| Excess
of income over expenditure/(expenditure over income) |
|
56,07,519.74
|
59,20,734.56
|
The
statement should be read in conjunction with the annexed notes.
SECURITIES
AND EXCHANGE COMMISSION
RECEIPTS
AND PAYMENTS ACCOUNT
For
the year ended 30 June, 2001
Taka
|
| Receipts: |
30
June, 2001
|
30
June, 2000
|
| Other
receipts |
1,07,77,943.95
|
67,61,800.00
|
| Grant
from the Government |
2,01,69,000
|
2,46,30,000.00
|
| Total
receipts |
3,09,46,943.95
|
3,13,91,800.00
|
| Less
Payments: |
|
|
| Salaries,
allowances and bonus |
1,14,51,432.18
|
1,02,07,267.66
|
| Office
rent |
34,18,428.00
|
42,78,288.00
|
| Office
water and electricity |
7,50,567.80
|
5,98,142.95
|
| Telephone,
Fax, Internet, e-mail, web page |
6,88,098.63
|
6,19,210.16
|
| Postage |
88,753.00
|
81,606.12
|
| Printing
and stationery |
8,44,356.00
|
9,37,010.00
|
| Entertainment
& Honorarium |
1,14,234.00
|
1,35,467.00
|
| Conveyance
&TA and DA |
72,713.40
|
1,37,843.50
|
| Board
meeting fees |
-
|
21,000.00
|
| Motor
vehicle repairs and fuel |
22,83,501.52
|
20,88,646.93
|
| Insurance |
1,04,499.00
|
63,898.00
|
| Office/electrical
repairs and maintenance |
1,54,992.63
|
1,16,445.00
|
| Other
expenses |
3,78,841.00
|
4,02,615.00
|
| Cookeries
and cutleries |
2,945.00
|
13,005.00
|
| Books
and periodicals |
6,241.00
|
39,330.53
|
| Telephone
installation |
56,123.00
|
78,230.00
|
| Subscription
& Donation |
3,66,199.00
|
3,46,469.00
|
| Liveries |
61,252.00
|
40,600.00
|
| News
paper |
87,323.00
|
1,15,052.00
|
| Office
supplies |
4,058.00
|
15,121.00
|
| Advertisement
and publication |
9,04,665.68
|
1,74,985.17
|
| Training,
Education & Research |
3,16,542.00
|
1,500.00
|
| Sundry
Advance |
2,13,345.00
|
-
|
| Bank
charge |
25.00
|
443.00
|
| Legal
expenses |
3,65,000.00
|
10,19,569.00
|
| Prepaid
Insurance |
2,02,074.00
|
1,74,663.00
|
| House
Loan Advanced |
9,70,000.00
|
-
|
| Expenses
in connection with inquiry report |
2,30,234.37
|
3,94,688.00
|
| Total
payments-revenue |
2,41,36,444.21
|
2,21,01,096.02
|
| Fixed
assets |
25,74,768.58
|
48,30,328.25
|
| Total
payments – capital |
25,74,768.58
|
48,30,328.25
|
| Total
payments (revenue + capital) |
2,67,11,212.79
|
2,69,31,424.27
|
| Excess
of receipts over payments/(payments over receipts) |
42,35,731.16
|
44,60,375.73
|
| Bank
balance on opening |
98,31,697.60
|
53,71,321.87
|
| Bank
and cash balances at closing |
1,40,67,428.76
|
98,31,697.60
|
|
Notes
to the financial statements
|
| Note-1:
Fixed assets Taka |
| Item
of fixed asset |
Cost
|
Accumulated
depreciation
|
Written
down value
|
| |
30
June, 2001
|
30
June, 2000
|
30
June, 2001
|
30
June, 2000
|
30
June, 2001
|
30
June, 2000
|
| Furniture
and fixtures
Office
equipment Communication equipment
Air
Conditioners
Motor
vehicles |
47,52,213.79
42,93,909.50
48,94,682.63
10,52,905.00
1,16,40,570.00
|
45,29,855.79
42,29,274.50
39,06,907.05
10,52,905.00
1,03,40,570.00
|
30,22,768.30
21,39,790.91
14,01,327.47
7,05,807.38
93,54,570.00
|
25,61,055.30
17,94,924.91
7,41,208.47
5,47,872.38
85,70,157.00
|
17.29,445.49
21,54,118.59
34,93,355.16
3,47,097.62
22,86,000.00
|
19,68,800.49
24,34.349.59
31,65,698.58
5,05,032.62
17,70,413.00
|
| Total |
2,66,34,280.92
|
2,40,59,512.34
|
1,66,24,264.06
|
1,45,09,631.06
|
1,00,10,016.86
|
98,44,294.24
|
|
Taka
|
| Note-2:
Security Deposit Receivable |
30
June 2001
|
30
June 2000
|
| Office
rent deposit
Telephone
deposit |
|
|
| Total |
7,39,048.00
|
7,39,048.00
|
| Note-3:
General Fund |
30
June 2001
|
30
June 2000
|
| Opening
balance Excess of (Expenditure over income)/ income over expenditure for
the year |
2,01,64,044.88
56,07,519.74
|
1,42,43,310.32
59,20,734.56
|
| Closing
balance |
2,57,71,564.62
|
2,01,64,044.88
|
|
Taka
|
| Note-4:
Creditors and accruals |
30
June 2001
|
30
June 2000
|
Income-tax
on salaries payable
Income-tax
deducted at source
Security
deposit payable
Electricity
bills payable
WASA
bills payable
Telephone
bills payable |
1,90,000.00
660.00
69,865.00
39,185.00
24,638.00
1,10,000.00
|
1,50,000.00
660.00
69,865.00
1,26,410.00
45,140.00
73,598.00
|
| Total |
4,34,348.00
|
4,65,673.00
|
|
Taka
|
| Note-5:
Other income |
30
June 2001
|
30
June 2000
|
Registration
fees of stock-broker/dealer Merchant Bank Regulation Fees
Mutual
Fund Registration Fees
Dealer
Authorized Representative Reg: Fee
Fees
of Approval for Prospects
Penalty
on listed companies
Appeal
Fee
Sale
of Quarterly Review
Sale
of tender documents
Sale
of scrap materials
Security
Deposit
Three
Month Notice Pay |
50,88,000.00
2,97,000.00
1,01,000.00
1,37,000.00
33,26,948.75
17,51,500.00
1,000.00
3,925.00
4,500.00
6,472.00
---
60,598.00
|
27,97,000.00
4,06,000.00
1,01,000.00
---
3,33,500.00
10,00,000.00
100.00
5,550.00
58,650.00
---
60,000.00
---
|
| Total |
1,07,77,943.95
|
67,61,800.00
|
| Note-6:
Salaries, allowances and bonus |
30June
2001
|
30June,2000
|
Basic
salary
House
rent allowance
Medical
allowance
Conveyance
allowance
Entertainment
allowance
Domestic
aid allowance
Washing
allowance
Tiffin
allowance
Gratuity
Festival
allowance
Overtime
Income
- tax
Salary
of employees on daily/fixed basis |
44,70,146.85
19,93,554.48 1,74,166.43
46,758.58
25,821.66
8,445.00
8,595.00
58,448.97
15,89,658.33
7,83,497.60
4,76,371.00
2,53,650.00
17,29,618.28
|
39,90,291.06
18,59,253.54 1,61,114.13
44,507.50
26,650.32
13,987.25
8,742.09
58,845.43
14,50,547.00
7,36,652.11
3,94,997.00
2,66,494.00
13,45,186.23
|
| Total |
1,16,18,732.18
|
1,03,57,267.66
|
|
SEC
Annual Report,2000-2001
