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monthly basis. The rents are calculated as follows:
A. Land: 3% of the most recent official land price per square meter multiplied by the rental area and divided by 12.
B. Building: 10% of the current taxable building value divided by 12.
19. PROPERTIES UNDER CUSTODIANSHIP
1) The government has placed certain assets under the TaiwanICDF’s custodianship and management. These
properties are entered into memo accounts: “Properties under Custodianship” and “Custodianship Property
Payable”.
The properties under custodianship were accounted for at cost. Expenditures for major procurement, renewals
and improvements were debited to “Properties under Custodianship” and credited to “Custodianship Property
Payable”. Moreover, the repairs and maintenance expenditures shall be treated as revenues and expenditures of
these projects. Upon disposal, the cost was deducted from the book amount. As of December 31, 2012 and 2011,
the book value of “Properties under Custodianship” was NT$675,618,570 and NT$723,662,354, respectively. In
addition, as of December 31, 2012 and 2011, the reserve for severance pay for personnel stationed abroad in
charge of the government’s assignments, which were administered by the TaiwanICDF on behalf of government and
for contracted assistants of the TaiwanICDF amounted to NT$60,614,954 and NT$66,210,015, respectively.
2) MOFA has engaged the TaiwanICDF to manage the Central American Economic Development Fund (ROC-CAEDF).
As of December 31, 2012 and 2011, the total amount of the ROC-CAEDF was NT$7,459,167,576 and
NT$7,773,003,355, respectively, and the details of the financial assets of the ROC-CAEDF are as follows:
December 31, 2012
December 31, 2011
US$
NT$
US$
NT$
Cash in bank
$986,382
$28,626,097
$861,266
$26,059,606
Time deposits
254,341,779
7,373,368,166
254,656,160
7,696,982,444
Interest receivable
1,839,529
53,327,956
1,496,792
45,240,540
Prepaid expenses
131,609
3,845,357
156,026
4,720,765
Total
$257,299,299
$7,459,167,576
$257,170,244
$7,773,003,355
The balances are not reflected in the financial statements.
3) The amount of MOFA’s stock certificate of Paraguay Synthetic Corporation placed under the TaiwanICDF’s custodian-
ship amounted to US$10,000 as of December 31, 2012 and 2011, as described in Note 7(4).
