LAGOS STATE GOVERNMENT

ONIGBONGBO LOCAL COUNCIL DEVELOPMENT AREA

APPROVED 2009 BUDGET CONSOLIDATED FINANCIAL STATEMENT

1. ESTIMATED REVENUE 2009 #

(a) Bank Balance B/F                                11,314,600

(b) Internally Generated Revenue          28,460,000

(ii) a. Outstanding Statutory Allocation

from Federation Account        409,000,000

(ii)b. Current Statutory allocation

from Federation Account                              344,000,000

(iii)        Statutory Allocation from state Account                                                        -

(iv)       Value Added Tax                                 187,000,000

Total 979,774,600

2. ESTIMATED RECURRENT EXPENDITURE

(i)Personnel cost (Council staff)                             178,976,672

(ii)       Teacher’s Salary                                             70,000,000

(iii)      Overhead Cost                                               311,300,000

Total 560,276,672

3. EST