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In the Crown Court at Dudley
R -v- Carl Adrian Page
Expert Accountant’s Report of David Liddell
Supplemental
17 June 2005
Prepared by: David Liddell BSc ACA
Chartered Accountant
Position and firm: Partner
PKF (UK) LLP
New Guild House
45 Great Charles Street
Birmingham
B3 2LX
POL00045868
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Contents
a
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5
I 41 Introduction...
F I This report.
My Instructions.
I Documents on Which I Have Relied
Other Matters
a
F 2 Summary of my Findings and Conclusions
P 3 Expert's Declaration...
a Appendices
a
PD I A Calculation of profit on transactions with Mr Whitehouse
B Audit schedule at 14 January 2003
g c Audit schedule at 27 June 2002
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4 KF
4 Ereioeeany Contents
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44
41.2
1.3
1.4
15
17
Introduction
This report
This report is supplemental to my report dated 16 May 2005 and should be read in conjunction
with that report.
My Instructions
I have been instructed by Messrs Frisby & Co, solicitors for Mr Page. My initial instructions are set
out in Section 1 of my report dated 16 May 2005. I am further instructed to:
(@) Prepare a schedule covering the indictment period showing the profit level to Post Office
Limited (“POL”) when measured against the Retail Buy Rate;
(b) Consider evidence in the statement of Mr Hugh Stacey about a payment of £241,194.62
from POL to First Rate Travel Services ("FRTS”);
(c) Comment on the auditing methods used by Royal Mail in relation to Rugeley sub post office.
My findings are set out in Section 2 of this report.
Documents on Which I Have Relied
I have not relied upon any additional documentation in the preparation of this supplemental report.
As before, unless presented with evidence to the contrary, as there is no allegation of falsified or
forged documentation in this case, I am instructed to assume that the documents disclosed to me
are genuine.
Other Matters
I have not carried out an audit, nor have I independently verified any of the information with which I
have been provided. This report should not be construed as expressing opinions on matters of
law, although it necessarily reflects my understanding thereof.
l understand that it is not part of my duties as an expert to make findings of fact and these will be a
matter for the Court in due course. I am aware that if the Court makes findings of fact that are
different from those I have assumed my conclusions may be invalid and may need to be revised.
PKF
Accountants &
Sosiese ackners
Introduction 7
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I understand that this report will be made available to the prosecution. It has been prepared for
use in this action. In all other respects, this report is confidential. It should not be used,
reproduced, or circulated for any other purpose, in whole or in part, without the prior written
consent of PKF (UK) LLP. Neither PKF (UK) LLP nor I accept any responsibility to third parties for
breaches of this obligation, or for any opinions expressed, or information included, within this
report.
PKF
Aecountant &
Introduction 2
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24
2.2
2.3
24
25
26
27
Summary of my Findings and Conclusions
I set out my findings under the following headings:
(a) The profit level to POL;
(b) Evidence of Mr Stacey about a payment of £241,194.62 to FRTS;
(c) Auditing methods used by Royal Mail.
The profit level to POL
In order to calculate to profit level to POL on the sales of Euros to Mr Whitehouse when measured
against the Retail Buy Rate, I referred back to my master spreadsheet which is included in
Appendix D to my report dated 16 May 2005. From the data in that Appendix, I produced a
calculation which is included in this supplementary report at Appendix A.
My calculation shows that during the indictment period, the profit achieved by POL on sales of
Euros to Mr Whitehouse, when measured against the Retail Buy Rate was £24,505. This means
that over the period, Euros had been sold from Rugeley Post Office to Mr Whitehouse at a value
greater than they were initially booked into the Forde Moneychanger (“FM”) system in the Bureau
de Change, to the value of £24,505.
in order to arrive at this figure, I compared the sales value (in Sterling) of all Euro sale transactions
to Mr Whitehouse with the purchase “cost” of those Euros to Rugeley Post Office, as calculated at
the Retail Buy Rate. Due to gaps in the information provided to me, as set out in my report dated
16 May 2005, I have had to make some assumptions in arriving at this figure, as set out below.
I have ignored 20 sale transactions that were included on Appendix D, but for which the FM fill rolls
are missing. Without these till rolls, I am unable to verify the number of Euros sold, the precise
transaction date or the Retail Sell Rate applied to Mr Whitehouse.
In some instances, I do not have a Retail Buy Rate for the Euros sold. On those occasions, I
applied the Retail Buy Rate that was most recently available prior to the transaction date.
For example, I did not have details of the Retail Buy Rate on 10 August 2002 but used the Rate
applicable for 9 August 2002 instead.
PKF
‘esounorta &
Bites oavsars
Summary of my findings and conclusions 3
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2.9
2.10
2.14
242
2.413
2.14
2.15
My only departure from this method was for the period 24 July 2002 to 5 August 2002 where there
are substantial numbers of FM till rolls missing. For this period of twelve days, I applied a Retail
Buy Rate of 1.6659, this being the average of the Retail Buy Rates on the 23 July 2002 (1.6477)
and 6 August 2002 (1.6841).
These assumed Retail Buy Rates apply to 25 transactions and affect my estimate of the profit by
reducing it £757. The profit of £24,505 is net of this reduction.
Evidence of Mr Stacey about a payment of £241,194.62 to FRTS
According to Mr Stacey, in March 2002, the POL in partnership with Bank of Ireland formed a joint
venture company called FRTS to provide wholesale currency to the Post Office network. Under
the contractual arrangements, all income generated from foreign currency transactions is paid to
FRTS which then pays a rebate to POL based on transactions carried out on its behalf. POL also
receives 50% of dividends declared by FRTS.
Mr Stacey states that a sum of £241,194.62 had been paid in income to FRTS in relation to the
transactions with Mr Whitehouse but which represented income that had not been generated at the
time the transactions had taken place. Mr Stacey goes on to state that this amount has since been
repaid to POL by FRTS.
I set out firstly below comments on the losses incurred by POL and the effect on those losses of
the repayment of £241,194.62 by FRTS. I then comment on the overall loss to POL.
At pages 5 and 6 of his statement, Mr Stacey takes a transaction with Mr Whitehouse as an
example to illustrate the loss incurred by POL.
For each transaction with Mr Whitehouse, the loss to POL may be considered as arising in two
parts: the actual cash loss; and the loss of opportunity to make a normal level of profit. By
reference to the transaction cited by Mr Stacey I examine each of these loss calculations.
The actual cash loss is the amount that POL pays FRTS for the currency, less the amount for
which that currency was sold to Mr Whitehouse. in Mr Stacey's example the actual cash loss is:
Amount paid to FRTS (€150,000 @ Wholesale Buy Rate, 1.5520) £96,949
Less: Amount received from Mr Whitehouse (€150,000 @ 1.65) £90,909
Actual cash loss £5,740
Accouaca 8
‘ina odees
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2.18
2.20
2.21
2.22
2.23
It is alleged that POL also lost the opportunity to make a normal level of profit on the sale of the
€150,000, which is calculated as
Normal sales value (€150,000 @ Retail Seil Rate, 1.5117) £99,226
Less: Amount paid by POL to FRTS (€150,000 @ Wholesale Buy Rate, 1.5520) £96,649
Loss of opportunity to make a profit £2,577
The total loss to POL, on the above calculations, is therefore £8,317 (£5,740 + £2,577), the same
figure that Mr Stacey calculates.
In fact, POL has not lost the opportunity to make a profit of £2,577 as a result of the alleged
conspiracy between Mr Whitehouse and Mr Page. In my opinion the opportunity did not exist to
sell the Euros to Mr Whitehouse at the Retail Sell Rate in the first place; he would not have
purchased them at that rate.
The actual loss suffered by POL is therefore the cash loss element only. Further, on Mr Stacey's
evidence, the actual cash loss is reduced by the repayment from FRTS that he has identified. In
total this was £241,194.94, but in relation to the particular transaction of €150,000 the repayment
is £2,577.
Therefore, in my opinion the loss to POL on the €150,000 example in Mr Stacey's statement is
£3,163 (£5,740 cash loss less £2,577 repaid by FRTS).
'have not seen a detailed calculation of the £241,194.94 repaid to POL by FRTS, so I am unable
to comment on whether that figure is correctly calculated.
This reasoning that I set out above has a bearing on the overall calculation of the loss to POL,
which should be stated after deduction of the loss of opportunity to make a profit and after
deduction of the £241,194.94 repaid to POL by FRTS.
The prosecution have calculated the loss of profit to POL at £393,881.54 (effectively the cash loss
described above; being the difference between the amounts paid by POL to FRTS and the
amounts paid by Mr Whitehouse) and £592,802.74 (effectively including the alleged loss of
Opportunity to make a normal profit; that is, stated at the normal level of profit that would have
been achieved if all the Whitehouse transactions were sold at the Retail Sell Rate). In my opinion,
based on the reasoning above, the loss of profit to POL is £152,686.60 (£393,881.54 less
£241,194.94).
PKF
Aceon &
‘esis ions
Summary of my findings and conclusions 5
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2.25
2.26
2.27
2.28
2.29
2.30
2.31
Auditing methods used by Royal Mail
Reference is made throughout prosecution witness statements to audit work carried out at Rugeley
‘sub post office by Roya! Mail staff.
I have serious reservations that the work carried out did not constitute an audit in the sense that
data was not verified back to source documentation nor critically examined before conclusions
were drawn.
I have carried out only a limited review of the audit schedules disclosed to me but I have identified
two serious shortcomings that indicate the work carried by Royal Mail was more akin to a stock
take than an audit. As such, the findings of that work cannot be relied upon to the same extent as
if they were derived from audited figures. I set out below two examples.
Firstly, I attach at Appendix B a copy of the audit schedule dated 14 January 2003. This contains
the “Audit result” of an alleged discrepancy of £645,345.18.
Examination of Appendix B reveals that the calculation of this alleged discrepancy is dependant
upon the accuracy of a “balance brought forward” of £553,429, which is itself dependant upon a
total of “cash and stock” balances at 8 January 2003.
I have seen no indication in the witness statements in this case that any audit or verification work
was carried out on the balances at 8 January 2003. If that is the case, then the Royal Mail cannot
be certain that those balances are correct and consequently cannot be certain of the amount of the
overall “audit result”.
Secondly, I note that mid-way down the right-hand “Receipts” column is a figure described as
“Bureau de Change - Revaluation”, £1,296.52. I understand that this is equivalent to the
“Revaluation Total” on Forde Moneychanger and represents the profit to Rugeley sub post office
On its foreign currency sales. I consider that an audit would have critically evaluated this figure by
reference to the amounts of foreign currency sold in the period,
! calculate the profit percentage to be only 0.2% against an expected profit of around 8%, as
follows (taking figures from the spreadsheet):
Opening stock of foreign currency £389,005.30
Foreign currency remitted £279,746.83
Less closing stock £(22,938.72)
Total currency sold £645,813.41
Therefore, the profit level is only 0.2% (£1,296.52 / 645,813.41)
PKF
Accounts &
Disiace sare
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I attach at Appendix C the equivalent audit schedule dated 27 June 2002. I calculate the profit
percentage to be only 2.8% against an expected profit of around 8%, as follows (taking figures
from the spreadsheet):
Opening stock of foreign currency £7,102.62
Foreign currency remitted £107,927.35
Less closing stock £(31,893.54)
Total currency sold £83,136.43
A “profit” to POL of 2.8% (£2,313.58 / £83,136.43).
These profit levels are much lower than would have been expected (as a result of the transactions
with Mr Whitehouse). I have seen no evidence that this fact was identified at 27 June 2002 and
brought to anyone's attention, not least to Mr Page.
In conclusion, if the work carried out by Royal mail constituted an audit, more would have been
done to check and substantiate the “opening balances” at 8 January 2003 before seeking to rely
upon them and the dramatic lack of profitability in the foreign currency transactions would have
been identified at 27 June 2002.
PKF
Accountant &
Sostnue advears
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3.1
3.2
Expert's Declaration
I declare that:
« I understand that my duty in providing written reports and giving evidence is to help the Court,
and that this duty overrides any obligation to the party who has engaged me. I confirm that I
have complied and will continue to comply with my duty.
« I confirm that insofar as the facts stated in my report are within my own knowledge I have
made clear which they are and I believe them to be true, and that the opinions I have
expressed represent my true and complete professional opinion.
« I have endeavoured to include in my report those matters, which I have knowledge of or of
which I have been made aware, that might adversely affect the validity of my opinion.
* I have indicated the sources of all information I have used. I enclose as Appendix B to my
report a schedule of documents on which I have relied.
¢ [have not without forming an independent view included or excluded anything which has been
suggested to me by others (in particular my instructing lawyers). In carrying out my
instructions I have been assisted by colleagues in PKF (UK) LLP. It would not have been
practical or efficient to carry out all the detailed work involved without assistance. I have
reviewed and discussed with them the work that they have performed under my direction in
accordance with the quality control standards imposed by my firm. For the purposes of this
report, I refer to all of PKF’s work as if performed by myself.
¢ I will notify those instructing me immediately and confirm in writing if for any reason my
existing report requires any correction or qualification.
{ understand that:
*® my report, subject to any corrections before swearing as to its correctness, will form the
evidence to be given under oath or affirmation;
* I may be cross-examined on my report by a cross-examiner assisted by an expert;
« I am likely to be the subject of public adverse criticism by the judge if the Court concludes that
I have not taken reasonable care in trying to meet the standards set out above.
PKF
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3.3 I confirm that I have not entered into any arrangement whereby the amount or payment of my fees
is in any way dependent on the outcome of the case.
n /s fos
Date:
Forensic Services Partner
PKF (UK) LLP
PKF
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Appendix Contents
A Calculation of profit on transactions with Mr Whitehouse
B Audit schedule at 14 January 2003
c Audit schedule at 27 June 2002
Simecs atvcere Contents
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i Appendix A
E Calculation of profit on transactions with Mr Whitehouse
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Accountants &
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Appendix A
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Calcultaion of Profit to POL when Comparing Sale Transactions to Mr Whitehouse against the Retail Buy Rate
‘Transaction.
Date
o9/m372002
12/03rz002
14/03/2002
s4fosr2002
14iosv2002
t9roa2002
20/03/2002
22mn3/2002
2r10s2002
2/04/2002
‘05/04/2002
‘0704/2002
10/04/2002
2104/2002
‘se/o42002
‘19/04/2002
‘ero4/2002
26/04/2002
27/04/2002
‘s0rmr2002
2/05/2002
2905/2002
o7iosv2002
9052002
o9ias/2002
‘.e/0sv2002
3/08/2002
23/05/2002]
29/05/2002
24/05/2002
28/08/2002
26/08/2002
29/05/2002
31/05/2002
71082002
7/08/2002
07/08/2002
‘1oer2002
‘voer2002
‘4roer2002
o1vo7/2002
Rate
Euros Avplled Transaction
Bought to Wihouse Amount
40000 1.718 23,923.62
‘57000 1.7 39,939.33
13,900 171 8,128.65
11000 171 6492.75
40000 17or 23,492.92
45000 17 28470.56
50000 17 2941176
40000 17 23,820.41
43200 17 2541176
‘8000 17 gee
27500 471 18,081.87
44000 17 25,982.35
46000 171 26,318.79
37500 un 82
‘50000 1) 29,230.77
45000 171 2831579
30000 17 17,847.06
40000 18 23,323.62
57000 1.718 33,236.15
46000 1718 25,822.16
37000 1715 21,874.24
53800 1715 31,370.26
35000 1.71 20,867.84
‘65000 1.718 37,900.87
80000 1715 46,647.23
49000 417 2382061
40000 1715 23,928.62
‘74000 47 43,274.85
‘50000 1.7113 29,217.55
26500 15,588.24
55800 92,631.58
‘72000 42,803.55
36000 169 21,301.78
62500 1.69 26,982.25
50000 1.65 30,903.03
20000 185 10,748.44
47277
20000 165 12,121.21
44000 1.68 26,508.02
55000 187 32,934.13
450 18 300.00
62000 185 97,575.76
63000 185 98,181.82
77800 1.69 45,852.99
20000 189 11,934.32
20000 4.69 14,894.32
70000 1695 41,297.94
‘93600 1.63 87,423.31
16000 1.84 9,756.10
128000 161 80,124.22
Retail buy
‘Sate
17104
sn67r
4.707
1707
1707
1.7075
4.7078
1.7051
4.7051
1.7051
4.7086
1.719
172
1.724
4.7293
17212
17a
4.7296
4.7296
1.7286
47272
4.7288
4.7202
1723
1.7281
1.78201
4.75201
4.7132
173
13
1.7149
1.6996
1.8906
4.702
1.6761
1.8761
1.8761
1.8883
1.8764
1.8764
1.8754
1.8545
1.6429
1.6429
1.8429
1.6396
1.8455
1.634
‘Retail buy
‘ans value
73,304.59
33,203.24
8142.94
6,444.05
23,492.92
26,354.32
2927572
23,459.03
25,335.78
2,932.38
18,085.63
25,598.28
26,162.78
21,781.76
28,913.43
28,144.55
17,370.16
23,128.73
92,955.80
28,611.13
21,421.95
31,118.05
20,346.47
37,724.90
46,347.28
22,890.92
22,890.92
43,194.02
29,217.55
15,485.30
92,538.34
42,262.91
21,181.48
96,721.50
29,831.16
11,992.46
11,982.48
26,374.15
92,808.40
268.43,
37,008.09
38,077.87
47,172.68
12,173.60
42,173.60
42,693.34
65,882.41
9,698.15
70:947.37
(1,320)
(839)
(1,396)
Ba
177
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i ‘oznrace 0000 161 49.80.44 1.6308 49,085.68 ou
3 9.58634
osi07 0000 1.625 10,208.73 116528 48,408.57 oe
F] 21,40570
osio7r2002 4000 4.625 26,307.69 6828 27,894.83 a3
a ‘o@/o7/2002 61750 162 38,117.28 1.6475, 37,481.03 636
oeia7r2002 74000 163 45396,77 tess 44,971.13 428
a 14/07/2002 54800 1.83 93,619.63 1.848 33,292.26 387
+ 1voTre002 0000 1635 48,92968 1ei9 48,514.25 a5
a 12/07/2002 72300 1.64 44,085.31 118865 43,640.24 430
ss072002 22560 465 1972127 46017 19,880.37 139
3 e07/2002 '36000 185 99,99038 18837 —34,060.48 (130)
se/o7r2002 42500 1497 25,856:30 16497 25,656.90 °
3 } 221077200 +96080 164 429572 1ea7s—e2.s8069 388
49,000.00
PI 2sqre002 59000 465 98,757.58 1168593541629 a
2aorre002 81000 168 48,795.18 ses 48,822.87 173
q 30/07/2002 61000 1855 96,058.01 16059 (98,816.84 241
aororr2002 74500 4664487952 16658 44,720.57 159
a a1iorr002 37500 11908 72,261.99 116659 22,510.35 (268)
owvoerz002 79000 ser 4181647 16041 41,8852 351
a ornerzoce 0000 187 47,904.10 1905 arar7 74 428
oaroarz002 20000 167 47,908.49 jecss 47,517.22 397
a ‘overzo0a eaoco ist argos tases 4798728 “)
‘aroer2002 0000 167 47,908.48 119685 «47,987.26 43)
a reowate sro tes 3400636 ism s4t7053 40
PI svoerz002 70000 167 4191647 16508 4220427 (288)
+a/oer2002 20000 467 47,908.19 16554 48,328.69 422)
Pt 4810972002; 81000 164 49330026 143 49,101.74 28
220812002] 147000 187 44,000.00 4.9583 88,591.57 (682)
P } 44,000.90
‘sTIeer2002 20000 165 48,484.85 1957 48,280.02 208
a 2avgere002 5000 165 81,515.15 16518 8148901 56
zavosrz002 5000 165 51,518.15 16518 5148901 56
P I } 2aVoai2002I 148000 4.65 40,000.00 49511 67,820.26 58
4787848,
P I } ala 185000 4185 50,000.00 16547 -93.672.57 267
43,9399
D I
910972002] 180000 167 45,808.98 1.6753 95,50528 303
a {ut ne
‘e1osr2002 27000 187 5209581 16753 $1,954.00 165
PI sweat tan is 75020 tess 1620 ~»
970972002 23975 167 1996701 167531395272 “
a } 159000 187 60,00000 terse 91,2093 200
448167
a } 2evosre0cn] 160000 1.67 80,000.00 1681 95,181.44 ear
45,000.38
a zevosa002 0000 187 7904.19 tes ars0072 a3
: 79,8847
a cave zeocca 1875900000 100 10320088 1984
36,000.00
a cxnozsnIt sot a tes0e 3841240 os
70,000.00
al «4so000
2 471072009 +0000 4.67 44,000.00 jes7e 88,888.62 936
a
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30/10/2002} } 235000
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11/44/2002} 350000,
weve I anon
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49/12/2002 145000,
17/42/2002 460000
wool 290000
20/12/2002 144000
sora 0
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1.676
187
1.652
1.885
1.848
163
434
188
1.85
1.85
185
1.63
1.825
1,820.00
40,000.00
49,820.38
60,898.20
44,000.00
144,000.00
97,373.13
150,802.86
71,748.88
67,724.55
70,000.00
70,000.00
70,214.80
70,000.00
49,760.48
70,000.00
67,559.81
112,765.96
100,325.00
44,000.00
44,000.00
83,084.34
400,000.00
180,000.00
90,963.86
142,624.24
100,000.00
81,708.08
100,000.00
87,009.06
100,000.00
78,871.43
100,000.00
77,507.60
188,145.90
93,958.90
97,560.98
+100,000,00
76,829.27
8727273
90,909.09
124,212.12
100,000.00
78,351.78
92,024.54
7,978.48
94,502.18
100,000.00
+490,000.00
400,000.00
60,493.83
-7630450.62
18743
1.8743
1.6769
1.8725
1.681
1.8801
1.8617
18518
4.9627
1.9827
165
1.8418
1.8418
1.647
1.65
1.8508
1.8486
1.8285
1.6315
1.6315
1.8218
80,767.48
125,231.08
51,121.08
71,748.88
196,628.32
139,972.63
119,040.53
198,939.23
212,408.89
270,807.00
240,601.50
242,160.07
100,429.42
186,606.12
178,571.43
176,969.70
87,878.79
92,682.26
97,448.08
176,077.72
87,272.73
90,876.05
121,322.44
178,296.96
91,939.93
91,999.93
360,083.72
POL00045868
POL00045868
231
13
(228)
342
(1.378)
aT
264
4,278
403
287
on
113
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R-v-Carl Adrian Page 47 June 2005
Appendix B
Audit schedule at 14 January 2003
Sara Appendix B
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POL00045868
‘BRANCH (GOD Roa Rema Wioat Wr ot Bah aah
Rugeley Mspo 284242 “14-Jan-2003 Giyn Burrows 645345.18 42 ‘Unuuthoread Loma _nprevovs GA
‘Aithormed Loses, 228 7]
RECEIPTS I wea ta ina copy ot weox I_ PAYMENTS. Supa oar YES
“ EXPECTED AESULT ary
scour in AMO REST as,
Besezeae 7 DIFFERENCEI 245345.) x
[ise eoaronl eocounery 7 =
Ferien, no “reanae an ooo TARORE
‘aoe i oP —I cur Cot oan IN STOCK
on wate srr ve I er iraanoe om he sou ba Levels
Pritt Ie parwenrs EEE) Cash Book groves] podond ‘BNcE
lows Deroarrs TESTI Moto TV Lewnce Rates I __se0od eng. ateg of Previous
Pots nde Uprating Trvnmon 8 Pat aEsT7I Silents eure ‘week
[TELEPHONE RECHT TFamiy Tax Cra 2430) cea ieee]
"Postal Ordre Pass 730)
fomosanx vercerTs {355.0 ean Grobank Chg on 73) 0s] 2as8 2
[enone me 10)
\cinoBANK OTHERS EET EE ai 125)
[et vena Perma [Trav turd Sree] ‘erara #7043]
Ie. meen Rod Line Fe arte
[romeo Frnt Licenoe free rors 300)
[Pests - Upeaing set Lethan Payments
\Vahute Licence Roomwaie BHAT sewn Pane ey) Ea) 2226]
IDAPhoto ue Fee woo Prmene So 106 5] 1058] I
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[voce Setamee . 2740.0) 7210.00) 2000)
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[BALANCE DUETO PO. asics) ‘Books - Otter “war Sen
$ "TOTALS KI {et cles ea avai tes ose.) 2088 00)
ng Clans et een aro 83400 763400)
"otal EE) EICE)}
Wp Tobe stoned tera convicemted amd br
Pt ‘Gyn Burowe ‘ot Security and Aust, Pout Ofc id Date: Han a03
ney ary a sed autor hve reohed aca a sock wnmaioe
"to teeter names of the ear near thi aut and have pit es figures onthe
‘computer verlon oto 32a
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POL-0042347
R-v- Carl Adrian Page
POL00045868
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17 June 2005
Appendix C
Audit schedule at 27 June 2002
PKF
‘Accountants &
‘business advieers
Appendix C
POL-0042347
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_ Sagara POL00045868
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BRANCH "DATE OF AUDA ] Aude Rag it Wook No. of uate Ree "Surpuua’Shortage:
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I 5] ES Teas
i I ‘Balance due to PO from wh RECEIPTS: “wee the final copy of week PAYMENTS ‘ADARTED YERNO
I : sy ovcermo sit? pate
Po} = ccnecageea is UI i
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pspraaaaeeerTI
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‘rom th thr momber of he team bsnl tsa a Rave net awe Nour on the
‘compute version of ha P28,
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Date: 27. Juna002
POL-0042347