Home News $161M In Assets, $15M In Income…Holness’ Statutory Declaration Now Public

$161M In Assets, $15M In Income…Holness’ Statutory Declaration Now Public

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The long-awaited statutory declaration of Prime Minister Andrew Holness shows that he and his family had an income of $15,569,477.41, assets totaling $161,254,055.89 and total liabilities of $22,218,182.61.

They also declared US$8,125 in income, US$28,272.11 in total assets and zero liability in US dollar.

The summary report was gazetted today, a copy was which was obtained by The Gleaner.

The report covers the financial health of Holness and his family for January 1, 2018 to December 31, 2018.

Holness and his wife Juliet are both members of parliament.

ASSETS

In 2016 when the current parliament was formed, Holness was receiving a basic salary of $7.3 million as prime minister.

He was entitled to $1.2 million in travel allowance although he drives in a fully maintained Land Rover vehicle for official duties.

The Gleaner could not verify whether he still collected the travel allowance.

As for Juliet Holness, the member of parliament for East Rural St Andrew, a backbencher, she collects nearly 3.5 million per year.

According to the data published, Holness declared another $474, 421.84 as “other income’.

Together, Holness’ total income was declared to be $15,569,447.41.

According to the document, Holness and his family had assets of over $161 million with $125,674,523.00 being listed under the category “Real Estate Mortgages, Receivables and Business Investment.”

There was $1,163,244.47 being held in saving accounts and $16,338,970.46 being held in savings.

The prime minister also declared that $10,642,081.92 was being held in securities and another seven million was declared under real estate.

Some $435,236.04 was also declared under accounts receivable.

Liabilities

Meanwhile, the document also showed that Holness has over $22 million in liabilities.

A breakdown of the figures revealed that the prime minister declared $1,949,102.34 in Real Estate Mortgage.

There was also a listing of “Other Accounts Payable” which amounted to $20,269,080.27.

US Dollar Holdings

The summary declaration disclosed that Holness declared a total US dollar income of $8,125.00 for the period.

The prime minister also declared that US$28,272.11 was being held in savings accounts.

The Holness family did not declare any hard currency liabilities.

The gazetted document said, inter alia, “The Integrity Commission herby certifies that the statutory declaration submitted by the declarant has been examined and is satisfied that a full declaration has been made in accordance with provision of the Act.”

In 2007, Holness had assets valuing $7.1 million and US$473,000.

In February 2016, Holness released data showing he had assets which totalled $99 million and US$415,000, mainly made up of the value of his newly constructed house, including the US$300,000 cost of the property.

His liabilities had ballooned to $34.4 million in 2016 coming from $3.4 million in 2007.

FULL DECLARATION

$JMD DECLARATIONS

Income

Salary $15,095,055.57

Realty Income $0.00

Security Income $0.00

Other income $474,421.84

Assets

Savings $1,163,244.47

Current Account $16,338,970.46

Securities $10,642,081.92

Real Estate $7,000,000.00

Other Personal Property $169,948.92

Real Estate Mortgages, Receivables, and Business Investments $125,674,523.00

Accounts Receivables $435,236.04

Automobiles $0.00

Cash Value of Life $0.00

Liabilities

Real Estate Mortgages $1,949,102.34

Notes Payable (Secured) $0.00

Notes Payable (Unsecured) $0.00

Other Accounts Payable $20,269,080.27

Total Income: $15,569,477.41

Total Assets: $161,254,055.89

US$ DECLARATIONS

Income

Salary US$0.00

Realty Income US$0.00

Security Income US$0.00

Other income US$8,125.00

Assets

Savings US$28,272.11

Current Account US$0.00

Securities US$0.00

Real Estate US$0.00

Other Personal Property US$0.00

Real Estate Mortgages, Receivables, and Business Investments US$0.00

Account Receivables US$0.00

Automobiles US$0.00

Cash Value of Life US$0.00

Liabilities

Real Estate Mortgages US$0.00

Notes Payable (Secured) US$0.00

Notes Payable (Unsecured) US$0.00

Other Accounts Payable US$0.00

Total Income: US$8125.00

Total Assets: US$28,272.