UNRWA FINANCIAL REPORT

End-May 2011

2

Month Variances

• Donor income – unfavourable by -$19.8m – all timing variance. • PSC favourable by $1m, increased project activity, hence E EOY forecast increased by $1m to $21m. • Area labour costs unfavourable by -$1.6m – timing due to increases in: i)LDC & Temporary staff by -

$0.4m, ii) CAF by -$1.7m, & other labour savings + $0.5m. • Inventory and non-inventory supplies unfavourable by -$0.9m - timing, • Admin support Services unfavourable by -$0.4m – timing variance• Cash subsidies to hardship cases unfavourable by $-$0.5m – timing variance

Year To Date Variances

• Donor income – unfavourable by -$46.8m due to timing variance – budgeted income not yet received incl. EU ($39m), USA ($11m) and receipts higher than budgeted incl. Sweden $3m.

• Area labour costs unfavourable by -$3.6m: Basic salary favourable by $1m, retirement benefits unfavourable by -$0.2m, Health related expenses favourable by $1.6m, annual leave accrual unfavourable by -$0.8m, CAF unfavourable by -$5m due to lower actual rate of NIS to budget more than offset by lower labour costs due to delayed appointment of staff.

• Non labour costs favourable by $29.1m, due to incorrect profiling of Reserves spend – all timing variance

End of Year Forecast

Initial budget deficit was -$63.0m, currently forecast to end of year at -$63.0m. The higher than forecast income + $7.3m (donor + $5.2m, PSC + other +$2.1m), equally offset by forecast higher expenses: CAF, provisions and derivatives.

Movement in end of Year Forecast

• End of Year (EOY) forecast at April was -$64.7m, which is currently forecast at -$63.0m, a favourable movement of $1.7m, principally comprising: a) increase in PSC forecast +$1.0m, b) net FX gain +$2.0m, c) Increase forecast KSA income + $2.2m, and partially offset by: d) salary increases for Syria and Lebanon field -$3.4m and other -$0.2m.

May 2011 General Fund Financial Summary

3

Programme Requirements 621.2 621.2Shortfall 116.2 108.9 (7.3)Revised Income 505.0 512.3 7.3IncomeDonor Income 453.2 458.4 5.2International Staff Costs 30.8 30.8 (0.0)PSC 18.0 21.0 3.0Other Income 3.0 2.1 (0.9)

Total Income (A) 505.0 512.3 7.3ExpenditureInternational Staff Costs (B) 31.4 31.4 0.0Envelope

Area Staff Costs 414.5 440.0 (25.5)

Supplies 30.31 37.4 (7.1)

Premises 11.1 11.1 0.0Equipment & Construction 5.2 6.0 (0.8)

Services 34.3 34.7 (0.4)

Subsidies 12.8 12.9 (0.1)Depreciation 0.0 2.0 (2.0)Capitalization 0.0 (1.5) 1.5Reserves 31.3 4.9 26.4Cost Recovery (3.0) (2.9)Total Envelope C 536.6 544.5 (7.9)

Total Expenditure D=B+C 568.0 576.0 (7.9)

Exchange (Gains) Losses Unrealized (E) (1.9) (1.9)

Fin Der (Gains) Losses GF/Projects + PYA (1.7) (1.7)

Provision Stock/Asset Write Offs 3.0 3.0Net Surplus (Deficit) (A-D+E) (63.0) (63.0) (0.0)

VarPlanned Income & Expenditure1 Jan

BudgetEO Y

Estimate

May 2011 Income Statement, General Fund - Resources US$ m

Description Actuals Budget Variance HC Actuals Budget VarianceAnnual Budget

Managed ToE(EOY)

F/CVariance

Income

Donors Contributions 25,625 45,419 (19,794) - 240,817 287,629 (46,812) 453,200 453,200 458,418 5,218

United Nations RB 1,800 2,565 (765) - 9,748 12,826 (3,078) 30,782 30,782 30,782 -

Programme Support Cost Recovery 2,518 1,500 1,018 - 11,417 7,500 3,917 18,000 18,000 21,000 3,000

Interest and Other Income 359 250 109 - 1,347 1,250 97 3,000 3,000 2,118 (882)

Total Income -(A) 30,302 49,734 (19,432) - 263,330 309,205 (45,876) 504,982 504,982 512,318 7,336

Expenditure

International Staff -(B) 1,818 2,619 800 18 10,028 13,093 3,065 31,422 31,422 31,422 -

Area Staff - manning table costs

Basic Salaries 24,922 24,990 69 5 123,878 124,950 1,072 299,881 314,753 314,753 -

Hazard Pay and Special Payment - 1 1 - 1 4 4 10 10 10 -

Provident Fund Agency Contributions 3,703 3,630 (73) - 18,230 18,152 (78) 43,565 45,753 45,753 -

SPOA,SOA and Others 748 816 68 - 3,956 4,082 125 9,796 10,145 10,145 -

Overtime and Excess hours supplement 61 58 (3) - 247 288 42 685 685 685 -

CAF 3,299 1,625 (1,674) - 13,123 8,126 (4,998) 19,501 20,923 23,923 (3,000)

Special Allowances 1,316 1,581 265 - 7,048 7,290 242 17,713 19,243 19,243 -

Health Related Expenses 584 877 293 3 2,820 4,401 1,580 10,569 10,560 10,560 -

Miscellenous Allowance 9 7 (2) - 97 52 (45) 173 224 224 -

Retirement Benefits - Severance 203 158 (45) - 1,115 940 (175) 2,218 2,218 2,218 -

Retirement Benefits - EVR 198 300 102 - 966 1,565 599 4,330 4,309 4,309 -

Annual Leave Accrual 167 - (167) - 833 - (833) - 1,000 2,000 (1,000)

Total Area Staff -manning table costs -(C) 35,210 34,044 (1,166) 9 172,314 169,849 (2,464) 408,441 429,823 433,823 (4,000)

LDC and Temporary Staff -(D) 951 532 (419) 203 3,809 2,658 (1,151) 6,081 6,178 6,178 -

Grand Total Area staff Costs -(E)=(C+D) 36,161 34,576 (1,585) 212 176,123 172,507 (3,616) 414,522 436,002 440,002 (4,000)

FINANCIAL PERFORMANCE REPORT - BY RESOURCES - AGENCY WIDE

UNRWA TOTAL - GENERAL FUND - UNEARMARKED FUND - May 2011

Month of May 2011 Year To Date Year - 2011

May 2011 Income Statement, General Fund – Resources (Page1 of 2) 4

Description Actuals Budget Variance HC Actuals Budget VarianceAnnual Budget

Managed To E(EOY) F/C Variance

Non Staff Costs

Inventory Supplies 2,296 1,606 (690) 12,489 10,391 7,939 (2,453) 19,248 26,366 26,366 -

Non inventory Supplies 817 603 (214) 3,568 2,724 3,505 780 11,072 11,079 11,079 -

Utilities 293 350 58 30 1,754 1,835 81 4,391 4,391 4,391 -

Maintenance of Premises 541 383 (158) 2,486 1,729 2,582 853 6,695 6,695 6,695 -

Equipment and Construction 398 538 139 3,995 400 2,335 1,935 5,248 6,006 6,006 -

Training 141 202 61 882 372 847 475 1,974 1,983 1,983 -

Travel 120 204 85 154 557 1,019 462 2,404 2,446 2,446 -

Admin Support Services 697 328 (369) 1,005 2,641 2,637 (3) 5,233 5,208 5,208 -

Consultancy Services 149 189 39 1,160 541 1,228 687 3,332 3,507 3,507 -

Hospital Services 1,028 1,107 79 2,890 5,148 5,318 170 13,103 13,103 13,103 -

Miscellaneous Services 364 568 205 2,775 3,014 3,737 723 8,259 8,463 8,463 -

Cash Subsidies to hardship cases 1,319 787 (532) 165 4,028 3,655 (373) 8,814 8,843 8,843 -

Cash Subsidies to patients 221 316 95 966 1,306 1,579 273 3,672 3,672 3,672 -

Other Subsidies 44 9 (35) 13 213 83 (130) 315 344 344 -

Depreciation (149) - 149 - (7) - 7 - - 2,000 (2,000)

Capitalization (42) - 42 - (240) - 240 - - (1,500) 1,500

Reserves - 557 557 - - 25,285 25,285 31,333 4,884 4,884 -

Cost Recovery (224) (249) (25) - (1,337) (1,253) 84 (3,000) (2,946) (2,946) -

Total Non Staff -(F) 8,012 7,498 (515) 32,576 33,234 62,328 29,094 122,093 104,043 104,543 (500)

Total Operational Expenditure -(G)=(B+E+F) 45,991 44,692 (1,299) 32,806 219,385 247,928 28,543 568,037 571,466 575,966 (4,500)

Operational Surplus/Deficit -(I)=(A-G) (15,689) 5,042 (20,732) (32,806) 43,945 61,277 (17,332) (63,055) (66,484) (63,648) 2,836

Exchange (Gains)/Losses (J) 680 - (680) - (1,876) - 1,876 - - (1,876) (1,876)

2011 GF Financial Derivatives (Gain)/Losses (K) (266) - 266 - 4,735 - (4,735) - - 8,612 8,612

2011 Projects Financial Derivatives (Gain/Losses) - - - - - - - - - 252 252

Prior year adjustments (L) 179 - (179) - (10,597) - 10,597 - - (10,597) (10,597)

Provision for Stock/Assets Write Offs - - - - - - - - - 3,000 3,000

Total Expenditure(N)=G+J+K+L+M 46,584 44,692 (1,892) 32,806 211,647 247,928 36,281 568,037 571,466 575,357 (3,891)

Net Surplus/(Deficit) C/F to Working Capital=A-N (16,282) 5,042 (21,325) (32,806) 51,683 61,277 (9,594) (63,055) (66,484) (63,039) 3,445

FINANCIAL PERFORMANCE REPORT - BY RESOURCES - AGENCY WIDE

UNRWA TOTAL - GENERAL FUND - UNEARMARKED FUND - May 2011

Month of May 2011 Year To Date Year - 2011

May 2011 Income Statement, General Fund – Resources (Page 2 of 2) 5

May 2011 GF Donor Income – YTD and E EOY US$ m

Act Bud Var Act Bud Var

A B A+B

Australia 5.5 - - 1.0 1.0 6.4

Bahrain 0.1 - 0.1 0.1 (0.1) (0.1) (0.1) 0.1

Belgium 1.4 - 1.4 - 1.4 0.0 0.0 1.4

Canada - - - - -

Denmark 12.9 - 12.8 12.9 (0.1) (0.1) (0.1) 12.8

Egypt - - - 0.1 0.1 0.1

EU 118.4 - 51.8 90.8 (39.1) (5.5) 1.5 (4.0) 114.3

Finland 4.1 - 4.1 (4.1) 4.2 4.1 0.1 0.1 0.1 4.2

France 6.2 6.7 - 6.7 6.7 6.2 0.5 0.5 0.5 6.7

Germany 11.0 - 5.4 3.7 1.8 (2.3) 0.1 (2.3) 8.7

Ireland 5.5 - - 0.2 0.2 5.7

Italy 6.2 - - 4.2 (4.2) (3.4) 0.1 (3.3) 2.9

Japan 2.5 - - 0.4 - 0.4 2.9

Kuwait 1.5 - - 0.5 - 0.5 2.0

Netherlands 20.6 18.6 - 18.6 18.6 20.6 (2.0) (2.8) 0.7 (2.0) 18.6

Norway 25.5 25.2 25.5 (0.3) (0.3) (0.3) 25.2

Qatar 0.1 - - - - 0.1

Saudi Arabia 2.0 - - 3.2 - 3.2 5.2

Spain 13.7 - 2.9 2.7 0.2 0.2 0.4 0.6 14.3

Sweden 40.9 - 43.9 40.9 3.0 0.9 2.1 3.0 43.9

Switzerland 10.2 - 10.2 (10.2) 10.5 10.2 0.3 0.3 0.3 10.5

Turkey 0.5 - - 0.5 0.5 1.0

UAE 0.2 - 1.8 0.2 1.6 1.6 1.6 1.8

UK 31.7 - - 1.2 1.2 32.9

UK (Perf Incr) 4.9 - - 0.7 0.7 5.6

USA 114.6 - 30.0 (30.0) 48.8 60.0 (11.2) - 114.6

Non-Adcom 13.0 - 1.1 (1.1) 5.1 5.4 (0.3) 0.5 0.2 0.6 13.6

NGOs - 0.3 - 0.3 0.7 - 0.7 2.9 2.9 2.9

Other - - 0.9 - 0.9 0.1 0.1 0.1

Total 453.2 25.6 45.4 (19.8) 240.8 287.6 (46.8) (3.3) 8.5 5.2 458.4

FX Gain/(Loss) on GF Hedges: (8.6)

Net FX Impact: (0.1)

Fx ImpactTotal 2011 Updates

2011 E EOY IncomeDonor Budget

May-11 2011 YTD Donors under /

over funding

6

UNRWA Bank Balances – May 2011

Transaction Curr Exch rate US$m Transaction Curr Exch rate US$m

Field Currency and USD

USD 328.9 328.9 265.7 265.7

JOD 4.6 0.708 6.6 5.5 0.708 7.8

LBP 6,591.9 1,500.0 4.4 6,592.8 1,500.0 4.4

SYP 165.0 47.020 3.5 147.0 47.020 3.1

NIS 4.5 3.410 1.3 13.1 3.460 3.8 -1.5%Sub-Total 344.7 284.8Non Field Currency

CAD 0.2 0.951 0.2 0.2 0.977 0.2 -2.7%

CHF * 8.0 0.873 9.2 8.0 0.857 9.4 1.8%

DKK 0.2 5.038 0.0 0.2 5.230 0.0 -3.8%

EGP 0.3 5.940 0.0 0.3 5.940 0.0 0.0%

EUR ** 4.7 0.675 7.0 13.0 0.702 18.6 -4.0%

GBP 0.4 0.600 0.6 0.3 0.608 0.5 -1.3%

JPY 0.1 81.440 0.0 0.1 81.230 0.0 0.3%

NOK 0.3 5.270 0.1 0.2 5.444 0.0 -3.3%

SEK 0.3 6.029 0.1 0.3 6.248 0.0 -3.6%

Sub-Total 17.2 28.8

Grand Total 361.8 313.6

* CHF 8m hedged with bank (@0.9663)

** EUR 13m hedged with bank (@1.419) towards EUR22.5m hedge

Currency As on 30 April 2011 As on 31 May 2011 % Change

7

UNRWA Foreign Exchange gains and losses for 2011 to-date are made up of the following:

• FX Gain/Loss on Donor Income– The difference between the fixed Budget Rates and the UN exchange rate multiplied by the

forecasted Donor Income amount.– The result to date is a gain of $8.5m, due to an appreciation of most currencies against the

USD.– Given that 97% of non-USD GF income is hedged, the above gain or loss is offset by an

equal and opposite gain or loss on the Financial Derivatives for GF (ie a net FX impact at 31 May of ($0.1m).

• Financial Derivatives Gains/(Losses)– In 2010/11, hedging contracts (FX Forwards) were entered into to protect the value of

budgeted GF and Project 2011 contributions. – The E EOY loss on these contracts reported is ($8.6m) for GF and ($0.3) for Projects.

• Other Exchange Gains/(Losses)– The revaluation of Foreign Currency bank balances and any other assets or liabilities, and

the realised gain or loss on any foreign currency transactions.– The result YTD was a gain of $1.9m. This result is expected to remain minimal as foreign

currency bank balances are now kept to a minimum - non-USD receipts are converted to USD immediately after receipt.

Treasury – Foreign Exchange Result – May 2011 8

2011 Cash Flow Forecast - General Fund – May 2011

Actual Actual Actual Actual Actual Forecast Forecast Forecast Forecast Forecast Forecast Forecast

US$ Millions Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total

General Fund

B/F Cash Balance 79.5 72.9 101.5 114.5 103.2 75.7 75.0 86.6 85.4 39.4 9.1 (6.1) 79.5

Donor Inflows 48.1 71.4 45.1 31.8 25.6 49.3 59.6 46.4 1.6 17.9 33.1 1.0 430.7

PSC 2.1 2.2 2.0 2.6 2.5 1.5 1.5 1.5 1.5 1.4 1.0 1.0 21.0

Other Income 0.2 0.3 0.3 0.3 0.2 0.2 0.2 0.2 0.1 0.1 0.1 0.1 2.1

Outflows (57.6) (46.5) (32.9) (44.5) (55.4) (49.2) (49.2) (49.2) (49.2) (49.2) (49.2) (49.2) (581.3)

FX Gain/(Loss) incl Derivs.

(0.1) 1.9 (1.5) (1.4) (0.5) (2.4) (0.5) - - (0.5) (0.3) (1.7) (7.0)

Net Cash flows (7.4) 29.3 13.0 (11.3) (27.5) (0.7) 11.6 (1.1) (46.0) (30.3) (15.3) (48.8) (134.4)

Cash Balance 72.9 101.5 114.5 103.2 75.7 75.0 86.6 85.4 39.4 9.1 (6.1) (54.9) (54.9)

9

E EOY Income to Cash Flow Reconciliation – May 2011

As at 31 May 2011

Description $m $mForecast Income statement deficit - 31/12/2011 (A) (63.0) a) Opening Cash Balance 79.5 b) Income accruals (27.7) c) Accruals for Expenditure (30.6) d) Increase in VAT receivable (8.0) e) Annual Leave Accrual 2.0 f) Prior Year Adjustments (10.6) g) Depreciation 2.0 h) Provisions Stock/Asset Write-offs 3.0 i) Capitalisation (1.5)

Sub Total (B) 8.1

Forecast Cash Balance as at 31/12/2011 (A+B) (54.9)

10

GF Cash Flow Statement for May 2011

Surplus as per Income Statement (16.3)

AddDecrease in Derivatives Reserves 15.0 Prior years' contribution 0.3 15.2

LessNet Accruals, EVR and Severance - Net Decrease in Hard Commitments (2.5) Net decrease in Liabilities (14.5) Net Decrease in Receivables (2.6) Decrease in Assets (0.2) Net decrease in inventories (6.9) 2011 contributions received in 2010 - (26.8)

Net Cash balance (27.9)

Opening 103.2

Net increase in imprest cash 0.3

Closing cash balance 75.6

11

Area Staff Provident Fund - May 2011

UNRWA PF May 2011 Update

Asset Class Values PercentageMay

Performance

May (Y.T.D) Fund

Performance *

May (Y.T.D) Benchmark

Performance

Bond 635,499,716 57% 0.45% 3.87% N/A

Equity 359,573,200 32% -1.83% 7.07% N/A

Hedge Fund Of Funds (HFOFs) 52,306,000 5% 1.22% 5.95% N/A

Real Estate Securities (REITs) 71,037,247 6% 0.37% 12.25% N/A

Total 1,118,416,164 100% -0.27% 5.51% N/A

* The indicative draft performance for May 2011 Y.T.D. is gross of fees.

UNRWA Year wise PF ReturnYear Fund Return Index Return Excess Return2000 6.42 1.90 4.52%2001 -0.53 -1.34 0.81%2002 5.59 4.92 0.67%2003 14.85 14.79 0.06%2004 9.78 9.65 0.13%2005 2.48 2.50 -0.02%2006 10.25 9.87 0.38%2007 8.16 8.49 -0.33%2008 -15.03 -14.04 -0.99%2009 16.36 15.42 0.94%2010 9.00 8.60 0.40%Cumulative Return (2000-2010)

6.12 5.52 0.60%

12

13General Fund – May 2011 US$ m

DescriptionDec 2010

QMCEnd of Year

ForecastComments

Total Programme Requirements 621.2 621.2-30.8 -30.8 Less International Staff ($30.8)

590.4 590.4Downsized Envelope ($568..03m) plus Unfunded portion ($53.19m)

-18.0 -18.0 Less PSC IncomeProgramme Requirements 572.4 572.4

1.9 Add Exchange gains ( FX revaluations) 5.4 Fin Dert. Gains (Losses) + PYA +CAF+Dept + CAP + Sal Incr

579.7

Projected Income 453.2 453.25.2 Increased donor funding 3.0 Increased PSC Income

461.43.0 2.1 Other Income

Shortfall against Programme Requirements -116.2 -116.2

Total Downsized Budget (Envelopes) 568.00 568.01.9 Add Exchange gains ( FX revaluations) 5.4 Fin Dert. Gains (Losses) + PYA +CAF+Dept + CAP + Sal Incr

575.3 Total Expenditure (a)

Projected Income 453.2 453.25.2 Increased donor funding 3.0 Increased PSC Income

461.4 EOY Estimate Donor Income (b)

30.8 30.8 International Staff contributions(UN)3.0 2.1 Other income (c)

18.0 18.0 PSC Income (d)505.0 512.3 Total Income (e) = (b) + (c) + (d)

Minimum additional funding required 63.0 63.0 (a) - (e)

14

APPENDICES• Financial Performance Report by Sub Programme

• Financial Performance Report by HDG (Objective)

• Balance Sheet as per UNSAS – As at 31 May 2011

• YTD Dec and EOY General Fund – Cash Inflow

• Cash Flow Statements as on 31 May 2011

• Supplier Aging as on 31 May 2011

• Head Count as on 31 May 2011

15

16

17

18

19

20

21

May 2011 GF – Donor Cash Inflows YTD and E EOY US$ m

2011 2011

Act Bgt Var Recd O/S CF EOY

A B C D E A+B+ C+D+E

Australia 5.5 - 1.0 6.4

Bahrain 0.1 0.1 0.1 (0.1) (0.1) 0.1

Belgium 1.4 1.4 - 1.4 0.0 0.1 1.5

Canada 0.0 - - 0.0

Denmark 12.9 12.8 12.9 (0.1) (0.1) 12.8

Egypt 0.0 - 0.1 0.0 0.1

EU 118.4 51.8 90.8 (39.1) (4.0) 6.8 (6.1) 115.1

Finland 4.1 4.2 4.1 0.1 0.1 4.2

France 6.2 6.7 6.2 0.5 0.5 6.7

Germany 11.0 5.4 3.7 1.8 (2.3) 8.7

Ireland 5.5 - 0.2 5.7

Italy 6.2 - 4.2 (4.2) (3.3) 2.9

Japan 2.5 - 0.4 10.0 12.9

Kuw ait 1.5 - 0.5 2.0

Netherlands 20.6 18.6 20.6 (2.0) (2.0) 18.6

Norw ay 25.5 25.2 25.5 (0.3) (0.3) 25.2

Qatar 0.1 - - 0.1 0.1

Saudi Arabia 2.0 - 3.2 5.2

Spain 13.7 2.9 2.7 0.2 0.6 14.3

Sw eden 40.9 43.9 40.9 3.0 3.0 43.9

Sw itzerland 10.2 10.5 10.2 0.3 0.3 10.5

Turkey 0.5 - 0.5 1.0

UAE 0.2 1.8 0.2 1.6 1.6 1.8

UK 31.7 - 1.2 32.9

UK (Perf Incr) 4.9 - 0.7 5.6

USA 114.6 48.8 60.0 (11.2) - (28.0) 86.6

Non-Adcom 13.0 5.1 5.4 (0.3) 0.6 2.4 0.3 16.3

NGOs 0.0 0.7 - 0.7 2.9 2.9

Other 0.0 0.9 - 0.9 0.1 (0.9) (12.4) (13.2)

Total 453.2 240.8 287.6 (46.8) 5.2 (16.5) 7.3 (18.5) 430.7

Total 2011 Updates

Prior Year's CF

Donor Budget

YTD

23Head Count as at End of May 2011 – Area Staff

Budget Field Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD Avg11,020 FOG 10,542 10,533 10,688 10,698 10,735 8,492 4,381 FOW 4,196 4,215 4,207 4,219 4,231 3,367 7,118 FOJ 6,722 6,712 6,815 6,830 6,826 5,416 2,934 FOL 2,904 2,901 2,902 2,903 2,900 2,322 3,574 FOS 3,436 3,413 3,478 3,490 3,506 2,763

314 HQA 269 270 272 272 270 217 135 HQG 123 123 124 123 122 99

29,476 Total 28,192 28,167 28,486 28,535 28,590 - - - - - - - 22,676

-4,0008,000

12,00016,00020,00024,00028,00032,00036,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

HQG

HQA

FOS

FOL

FOJ

FOW

FOG

Budget

Main A/C Year HQ-Amman Gaza Lebanon Syria Jordan West Bank HQ-Gaza Grand TotalStaff Advance

2009 109 109 2010 1,481 1,666 16,677 19,824 2011 3,900 22,958 111,007 35,648 23,278 34,585 231,375

Staff Advance Total 3,900 22,958 112,487 35,758 24,944 51,262 251,309 Supplier Advance

2003 21,186 21,186 2004 7,062 7,062 2006 39,230 17,879 57,109 2007 283,712 141,243 137,800 562,755 2008 141,663 0 26,954 168,617 2009 58,087 703,797 254,237 74,017 797 1,090,935 2010 24,011 428,415 103,023 2,274 11,968 1,760,522 137,071 2,467,284 2011 83,554 1,599,500 138,509 38,645 80,886 2,032,883 7,972 3,981,948

Supplier Advance Total 107,565 2,550,607 945,329 40,919 516,583 4,050,054 145,839 8,356,896 Supplier Payable 2002 3,330 22,902 26,232

2003 0 (1,702) - (1,412) 8,088 (393,887) (388,913) 2004 2,070 (69) (0) 22,224 (113,636) (89,411) 2005 433 (291) 10,457 10,599 2006 (27,087) (450) (2,825) (68,049) (98,410) 2007 (219,072) (23,310) (110) (353) 613 (242,232) 2008 (5,354) (1,547) (109) (0) (21,073) (28,083) 2009 (10,317) (3,265) (246) (5,418) (9,815) (1,916) (30,976) 2010 (333,824) (66,532) (704,810) (682) (40,980) (61,106) (205,230) (1,413,166) 2011 (35,728) (175,011) (1,345,183) (56,548) (1,020,524) (570,039) (5,643,458) (8,846,491)

Supplier Payable Total (369,552) (499,242) (2,078,565) (58,056) (1,071,512) (644,724) (6,379,200) (11,100,852)

Grand Total (258,087) 2,051,364 (1,110,279) 95,350 (519,172) 3,430,274 (6,182,099) (2,492,647)

Supplier’s Accounts Payable & Advances – May 2011

27