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Introduction

This is my final and complete finance report as the eIndian Minister of Finance under Exibot, for the term covering January 05 - February 05, 2012.

The report describes the activities of the finance team these past four weeks, and will report the state of national finances and how they have been collected and used.

Income Tracking

I used a new method to determine the rate of tax income into treasury. This involves recording the treasury balance at intervals, and using the country administration page to correct for donations and MPP proposals. Once the corrected income is obtained at different time points, I used statistical analysis software to plot the trend lines (solid sloping lines exactly through the middle of the data points) with 90% prediction bands (dashed grey lines around the trend lines). It is a linear regression model, where the slope indicates the average rate of income and the width of the band indicates how closely the sampling predicts the data.



The conditions of the game have changed at least twice this week following game updates (red lines), and continued observation using my model shows how the income rate has changed after both updates. There is currently a spike in income, as the bot has suddenly been re-activated at 03:00 day 1537. Income will be stronger next term, but not necessarily as high as the current spike.

For comparison with the old income rate at the start of term:


This shows income has increased since the start of term. Income rates will grow naturally as the population increases and builds more companies. eIndia may be a relatively small country in this game but it is definitely growing. Our active population increased from ~200 to ~250 during this term (look at the total voters in elections), and more citizens this term have used the loan system to boost their company production. The retention and media/culture teams were essential for encouraging new players to stay.


Balances and Spending

At the start of term cabinet members submitted their budget allocation requests on the forum, and Teutonic Caesaris helped in the beginning of term gathering requests from cabinet members for their departments. We organised a budget to cover expected requirements and planned on a surplus to insure against unexpected expenses or income changes, as reported in the National Budget Report: http://www.erepublik.com/en/article/-mof-national-budget-1946929/1/20

The following data shows an overview of all spending during the term. It compares balances with initial values at the start of term, and compares actual spending with budgeted spending amounts.





Of note here, the loan pool was expanded 50% to accommodate an increased number of loan requests. An upper limit of 60k was used to regulate the loan pool to ensure there was enough for every valid applicant. Increased reserves may now help to relax this limit if necessary.



INR was converted to gold at the favourable rate as part of the Bulgarian diplomatic arrangement, and more of their gold was sold into our economy on the monetary market. See article:
http://www.erepublik.com/en/article/-president-bulgarian-military-barrack-amp-cinderella-1950942/1/20

Gold was gained from the sale of normal orgs before their deletion by admin. See article:
http://www.erepublik.com/en/article/normal-orgs-for-sale-chance-to-get-your-additional-license-cheap-1954796/1/20

We are also expecting an additional 25 gold as land rent from eChina for this month.



Total amount of INR (including gold value) gained by government this term after all expenses: 130k INR

This is higher than we expected, as admin did not announce they would delete normal orgs until after the budget was prepared. So we got the equivalent of over 90k INR bonus to our budget surplus.

Individual Department Expenses

MPP Stack

16 countries in chronological order: Albania, Greece, USA, Republic of China (Taiwan), Argentina, Romania, Bulgaria, Croatia, Italy, Portugal, Malaysia, Russia, China, Ukraine, Brazil, Philippines.

Total MPP costs: 16000 INR


Defence

NDA dispatches

3309 units of Q5 food (equivalent)
1356 units of Q5 tanks
657 units of Q6 tanks
4000 INR salary for Kismu as dispatcher (1k per week same as last term)

NDA carry-over
2112 Q6 tanks were carried over from the previous term.

Special missions
14573.10 INR total payments to Albania mission soldiers


Total Defence department spending: 132954.23 INR



MoMC + RT

4749 units of Q5 food
324 units of Q5 tanks
200 units of Q6 tanks
3000 INR for story competition prizes
10000 INR backlog for RD1234 spending from personal account last term (repayment was graciously declined by RD1234, money returned to CBI)

Total department spending: 44,618.92 INR

MoMC+RT transfer log in this spreadsheet: https://docs.google.com/spreadsheet/ccc?key=0AjAcrDMQnK_sdDdyUDhJZi11UnRXYkxWMl9BYXhvNHc&hl=en_GB#gid=0



Ambassador Program

No funding has been requested for this program this term, although they are still welcome at this time, today or tomorrow to claim what they need.


Log of Donations to CBI from Treasury

50000 INR - http://www.erepublik.com/en/India/law/93593
99999 INR - http://www.erepublik.com/en/India/law/93970
99999 INR - http://www.erepublik.com/en/India/law/94568
99999 INR - http://www.erepublik.com/en/India/law/94812
99999 INR - http://www.erepublik.com/en/India/law/95311
99999 INR - http://www.erepublik.com/en/India/law/95940
99999 INR - http://www.erepublik.com/en/India/law/96091
99999 INR - http://www.erepublik.com/en/India/law/96207

Total: 749993 INR moved from treasury to CBI.

National Organisations

Audit completed by Kismu who has the spreadsheet, we can make this publicly viewable and put the link here soon.

Normal orgs had to be sold before admin deleted them, Kismu handled the auction.

Earnings from the sale of normal orgs: 90.5 gold

One of the orgs contained 9 defence systems which were too valuable to sell to bidders, so cabinet consulted EDEN allies and decided to hold the defence systems on a neutral eIndian player, so the org containing the DS was dissolved on Ashwamedeth for safekeeping. eIndia has the option to hold the DS safely to eventually use or sell to allies.

National Companies
Audit completed by Kismu who has the spreadsheet previously mentioned.

Loan system usage

I am a long time observer of economies in different eCountries, and I never saw a loan system as successful as the one in eIndia, established by previous governments who should be credited for setting this up.

Weekly loan reports were published this term:
http://www.erepublik.com/en/article/-mof-week-1-loans-report-1944309/1/20
http://www.erepublik.com/en/article/-mof-week-2-loans-report-1948911/1/20
http://www.erepublik.com/en/article/-mof-week-3-loans-report-1955109/1/20
http://www.erepublik.com/en/article/-mof-week-4-loans-report-1961391/1/20


Full accounting from the Central Bank of India

I have set up a spreadsheet for recording CBI transactions and monitoring CBI and treasury balances: http://tinyurl.com/eIndiaCentralBankAccounting

These are described in a previous article:
http://www.erepublik.com/en/article/-mof-central-bank-transactions-1956380/1/20


Ongoing Tender for Supplies

We have introduced a bid system and extend an ongoing invitation for suppliers to place bids to supply the eIndia government - http://tinyurl.com/eindiasupplybids

Thank you Kismu for creating the form and spreadsheet for this.

Credit to the government in the previous term for starting the procurement thread on the eIndia forums, and gaining some local supplier contacts for us to use.

Market analysis

Market and company values have changed a lot recently with the game changes. I discussed this in my previous article but here is an update with day 1538 data.



The important thing is that Q4 raw materials have regained their excellent value from before, since the market bot seems to be re-activated yesterday. It is once again more cost-effective to buy lots of Q4 raws, than it is to buy Q6 companies. This should be monitored to see if it is sustained.


Final Remarks

It has been a lot of work but still an enjoyable experience being the financial advisor of the government. Serving a term as MoF fulfils a personal goal for me in this game. I am grateful to President Exibot for giving me this appointment and leading the nation, and to Commius the previous MoF for helpful advice and encouragement, and most of all to the finance team for their hard work and fantastic input: Kismu (dMoF and NDA dispatcher), Teutonic Caesaris (dMoF), and Perceptorp (market observer and dMoMC).


Jack Lantos, MoF