“A Jamaican workforce trained and certified

to international standards, stimulating

employment-creating investments,
contributing to the improved productivity,
competitiveness and prosperity of
individuals, enterprises, and the nation.”
 TABLE OF CONTENTS

MESSAGE FROM THE MINISTER OF EDUCATION, YOUTH & CULTURE 4

THE HEART TRUST — A True Jamaican Story 6

THE BOARD OF DIRECTORS 8

CHAIRMAN AND EXECUTIVE DIRECTOR’S REPORT 10

THE HEART TRUST/NTA CORPORATE LOG FRAME

MAJOR MOVES IN THE BAUXITE/ALUMINA SECTOR 12

SKILLS JAMAICA SHOWCASING THE VALUE AND POTENTIAL

OF THE JAMAICAN WORKFORCE 14

TRAINING AND CERTIFYING WORLD CLASS WORKERS IN THE 16

BUILDING AND CONSTRUCTION INDUSTRY 16

BOOM IN HOSPITALITY INDUSTRY 18

HEART SUCCESS STORIES 24

THE HEART TRUST/NTA PERFORMANCE PHILOSOPHY 24

PERFORMANCE OF THE NATIONAL TRAINING PROGRAMME 26

RECRUITING FOR THE NATIONAL TRAINING PROGRAMME 26

THE HEART TRUST/NTA TRAINING DELIVERY SYSTEM 27

Academies & Institutes 27

Vocational Training Centres (VTC’s) 28

School Leavers Training Opportnities Programme (SLTOPs) 28

Workforce Improvement Programme 28

Special Programmes 28

Vocational Training Development Institute (VTDI) 29

National Council on Technical, Vocational Education and Training (NCTVET) 29

Technical High Schools Development Project (THSDP) 30

The Professional Guidance Information Services (PROGIS) Unit 30

AUDITOR’S REPORT 35

HEART TRUST/NTA PERSONNEL 62

HEART TRUST/NTA HEADQUARTERS AND REGIONAL OFFICES 64

3 HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T

 MESSAGE
THE MINISTER OF EDUCATION,
YOUTH & CULTURE
The HEART Trust/National Training Agency
has reached a pivotal point in its history, facing
arguably its most far-reaching challenge since
the HEART Act was passed in Parliament in
1982.
The Agency, which falls under the Ministry
of Education, Youth & Culture, has spent a
great deal of time developing a new model
for Technical and Vocational Education and
Training (TVET) which aims to train at least half
of the Jamaican workforce over the next four
years.
Through this new programme, which is
endorsed by the Ministry of Education, Youth
and Culture, HEART/NTA will play a key role
in helping us to develop a knowledge-based
society, where lifelong learning must be a key
goal across all sectors of the economy.
The plan by HEART/NTA to train and
certify up to 100,000 youths and working age
Jamaicans every year is a bold one, and it is
an imperative if Jamaica is to keep pace with
trends in the global marketplace and if we are
to be an attractive investment destination.
H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT
There has been much debate on the status
of education in Jamaica, and the Ministry is
very pleased that the National Training Agency
has continued its rationalization of Technical
and Vocational Education and Training
(TVET). Globally, there is a high demand for a
knowledgeable, skilled workforce and Jamaica
has to be on board to take advantage of the
many opportunities.
The country is poised for major investments
in tourism, construction and the bauxite/
alumina sectors over the next few years, and
HEART, as the National Training Agency will
come under intense pressure to prepare the
workforce for these developments.
The Ministry of Education, Youth and
Culture has every confidence in the Board of
Directors, Management and Staff of the Trust,
to rise to the occasion and to ensure that we
have the right mix of human resources with the
requisite technical expertise and training to fill
the needs of these growing sectors.
— THE HON. MAXINE HENRY-WILSON, MP
MINISTER OF EDUCATION, YOUTH & CULTURE
4
 THE HEART TRUST
NATIONAL TRAINING AGENCY
A True Jamaican Story
Jamaica’s history is replete with icons in
music, sports, culture, agriculture, education,
politics and world affairs. It’s really true – “wi
likkle but wi tallawah”. (We are small but strong
and courageous).
The rich history of the country is an
embodiment of our people and our courage
and spirit. It speaks to our ability to respond
to challenges and to rise to the occasion.
Jamaicans have a presence on almost every
world stage – we have a sense of occasion.
The HEART Trust/NTA is the leading trainer for the
Information Communications and Technology (ICT)
Industry in Jamaica
From the days of slavery and a plantation
economy, Jamaicans have mastered the art of
survival, rising from the ashes to fight again.
For centuries, our people have earned a high
reputation for being among the best workers
H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT
in the world. We are a fiercely resilient people
who have consistently achieved against the
odds.
The days of dependence on sugar, tobacco
and bananas are over and the country must
achieve a competitive advantage in the
production of all goods and sevices.
It is against this background that the
HEART Trust/National Training Agency stands
tall at this pivotal moment in our history – a
time when a services economy has emerged
with new demands on the workforce. Now 22
years old, the HEART Trust/NTA has the vision
to train at least half of the Jamaican workforce
over the next six years.
A tall order - yes, but since its inception,
HEART/NTA has delivered the goods as it
continues to take the Jamaican worker to
international standards.
The Trust is now on a path of further
excellence as it seeks to make its programmes
accessible to more Jamaican workers,
building on its successes of training persons
for the workforce in a multiplicity of skills in
key sectors such as Hospitality, Information
Technology, Automotive Technology, Apparel
& Fashion Designing, Construction and
Agricultural Sciences.
HEART’s plan is to change the profile of
the Jamaican workforce in preparation for
the upcoming Caribbean Single Market and
Economy, CSME, and the Free Trade Area of
the Americas (FTAA) which will, among other
things, herald the free movement of labour and
goods.
6
 HEART/NTA has a clear vision to build:
“A Jamaican workforce trained and certified
to international standards, stimulating
employment, creating investments,
contributing to the improved productivity,
competitiveness and prosperity of
individuals, enterprises and the nation.”
The Trust is leading the process to create
a trained and certified workforce that is
attractive to local and overseas investors. It’s
about building the Jamaica brand – a brand
recognized by everyone, everywhere in the
world.
Now, through the HEART Trust/NTA, we
have a new commodity on the world stage, a
globally trained and certified Jamaican worker.

An important plank of the Trust’s Technical

and Vocational Education and Training (TVET) The Runaway Bay HEART Hotel & Training Institute
approach is also a recognition of the need in St. Ann was the first institution of its kind to receive
to rationalize its training and certification
programmes to ensure that more working age
the prestigious Green Globe 21 certification.
Jamaicans and young people in and out of the
formal school system have easy access to its
training programmes.
The Trust is also actively promoting
the growing global phenomenon of lifelong
learning, as the workers of the country retool
and upgrade to keep apace with everyday
changes in conducting business and embracing
emerging technologies and industry standards.
Our partnership with Jamaicans employers and
local and overseas investors are key platforms
in HEART’s drive to produce world class
workers.
HEART/NTA has an enduring partnership with
the worker and Jamaican employers, whose
3% payroll contributions fund the National
Training Programme and that is why it remains
committed to the continued strengthening of
efficiency and effectiveness in its role as the
major provider of technical and vocational
education and training.
The Trust fully recognizes its pivotal role
in the growth and development of a highly
trained, certified, and sophisticated Jamaican
workforce. It continually fine-tunes its approach
to make it more relevant to achieving these
national goals.

7 HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T

 THE BOARD OF DIRECTORS

FOREROUND FROM LEFT TO RIGHT :

Wilbert Williams, Dawnette Turner, Alister Cooke, OD, JP, (Chairman),

Robert Gregory (Executive Director), Pauline Knight, Dr. Rae Davis, CD, JP, (Vice Chairman)
STANDING :

Carmen Bromley (Board Secretary), James Walsh, Frances Madden,

Maria Jones, Patrice Samuels, Greta Bogues, Sherryl White-McDowell,
Julian Robinson, Vivian Crawfo rd, Sherine Shakes

H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT 8

9 HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T
 CHAIRMAN AND
EXECUTIVE DIRECTOR’S
REPORT
The HEART Trust/NTA is pleased to
complete another successful year of operation
during which we have seen a positive initial
“As at March 2004, impact of the New Technical and Vocational
enrolment in all Education and Training (TVET) Model being
implemented as a means of greatly expanding
programmes, stood
access to training and certification.
at 42,490. Actual Particular note should be taken of
enrolment exceeded key indicators relating to certification
the projected targets, specifically the attainment of unit
competencies, tracking the increased access
enrolment figure of
to training by way of increased enrolments
37,000 by 5,490. and accreditation of training institutions under
The total output the New TVET Business Model. In addition,
or completion for technical services support through the training
and certification of assessors, the development
the fiscal year of competency standards for qualifications,
was 21,984 with instructional and other resource materials as
terminations for the well as the development and implementation
of Information Technology (IT) systems, have
same period being
become increasingly important.
2,244 or 5.3% of As at March 2004, enrolment in all
actual enrolment.” programmes, stood at 42,490. Actual
enrolment exceeded the projected enrolment
figure of 37,000 by 5,490. The total output
or completion for the fiscal year was 21,984
with terminations for the same period being
2,244 or 5.3% of actual enrolment.
H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT 10
In relation to the target of improving
gender balances in programmes by the end
of the fiscal period to no less than 46% male
and female 54%, overall female enrolment
was 24,184 or 56.9% of total enrolment
with a consequent male enrolment
percentage of 43.1%. In specific programme
areas, the School Leavers Training
Opportunities Programme, SLTOPs (1,389 or
28.8%) and Special programmes (2,204 or
34%) show the lowest male enrolment. Male
percentage enrolment in the Academies
stood at 45.5% and 50.3% in the Vocational
Training Centres.
The top three sectors with enrolment
numbers of over three thousand are Hospitality
(7468), Information and Communication
Technology (7022) and Building and
Construction (4914). The Agency has made
a deliberate effort to increase enrolment in
high demand areas such as Hospitality, and
for fiscal year 2003-4, 15,477 persons were
certified in all HEART programmes.
Our revised Technical and Vocational
Education and Training (TVET) approach comes
against the background of the Trust’s need
to rationalize our TVET System to ensure that
more working age Jamaicans and young people
in and out of the formal school system have
access to training and certification.
Under the new TVET business model, we
expect to train and certify up to 100,000
working age Jamaicans over the next three
years. Some 28 institutions have already
achieved the status of Accredited Training
Organization (ATO) as we made huge strides
in the implementation of the new model for
training and certification.
Over the past fiscal year, we have had
meaningful consultations with representatives
from all the key sectors of the economy and
their feedback to our new TVET business model
has been overwhelmingly positive. As a result
of the partnership, ten industry lead groups
were re-organized and re-focused to support
the new training model.
Our partnership with the nation’s employers
remains vibrant and strong as we effectively
utilize their 3% contribution to fund the
National Training and Certification Programme.
We have enhanced our partnerships with
industry, signing new memoranda of
understanding with the Council of Community
Colleges of Jamaica, and the Jamaica
Agricultural Development Foundation.
The Trust also successfully organized and
staged Jamaica’s first-ever Skills Exposition
“Skills Jamaica” at the National Arena in
Kingston and we are now preparing the first
ever Jamaican team to participate at the next
World Skills Competition in Helsinki in 2005.
The HEART Trust/NTA remains committed to
the continued strengthening of efficiency and
effectiveness in our role as the major provider
of TVET. Among the highest priorities for the
year was the need to increase the number
of certified graduates from the system and
deepen partnerships. During the year, we
11
boosted the quality and relevance of training Chairman Alister Cooke
and the overall efficiency of our operations as (left) signs the Memorandum
of Understanding with the
part of continuous improvement. Council of Community College’s
In addition, all our institutions continue chairman, Sandra Shirley
(right) and executive director,
to establish partnership agreements with
Noel Stennett. Guiding the
organizations and there are articulation proceedings is Carmen Bromley,
agreements in place for most of our skill areas. Board Secretary.
Our partnership programme involving the
nation’s 14 technical high schools continues
to be a major success story, as seen in the
improved performance of students in the CXC
examinations.
The Vocational Training Development
Institute (VTDI) received approval from
the University Council of Jamaica to offer
a Bachelor of Science Degree in Career
Development, the first of its kind in Jamaica
and the Caribbean. The VTDI also started
its distance education programme, offering
courses in entertainment management, career
development and education and training.
We are now looking ahead to the
aggressive implementation of our new TVET
business model in the months and years
ahead, as we improve the quality, access to
training and certification and employability of
the Jamaican workforce.
HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T
 THE HEART TRUST/NTA CORPORATE LOG FRAME

REPORT CARD 2003-2004

All divisions, departments, training facilities and other units within the National Training Agency,
operate according to the Logical Framework Methodology (Log Frame). This is a system of
precise deliverables and performance indicators, governed by a regime of high performance
and accountability.

STRATEGIES/ WEIGHT / SCORE

PERFORMANCE INDICATORS ACTUAL PERFORMANCE
OBJECTIVES COMMENTS
TARGETS ACHIEVED
1. Number of Certified 1.1 NCTVET certification achieved by a total of 14,136 persons TARGETS NVQ -J JOINT 5 / 5
Individuals increased. in HEART programmes – 7,136 persons with NVQ J and Over 4,000 persons
NCTVET/Joint Certification attained by 5669 persons by 03/04 Acad. 5981 4010 3074 certified in Early Childhood
WEIGHT 16 VTCs 4403 2336 1952 Care and Development
S/Progs 2652 1600 1710 last year
SL-TOPs 600 607
SDC 200
WIP 300 188
14,136 8,553 6,924

15,477 persons certified in HEART Programmes YTD. An increase

of 1,341 over targeted 14,136
1.2 6000 persons from other financed programmes attain NVQJ/ 4,957 persons from other financed programmes with NCTVET 3.5 / 3.5
NCTVET certification by 03/04 certification

1.3 Unit competencies achieved by 2000 persons by 03/04 2,972 persons achieved unit competencies 3.5 / 3.5
1.4 Higher- level enrolment increased to 40% of total enrolment 35% or 10,090 enrolled in higher level NCTVET courses 4 / 4
in NCTVET courses by 03/04

2. Access to Training 2.1 Enrolment in HEART financed Training Programmes 42,490 enrolled 4.5 / 4.5
increased increased to 37,000 by 03/04

WEIGHT 12 2.2 Fifty (50) firms, HEART institutions and CBOs achieve ATO 28 institutions have so far achieved ATO status 4.5 / 3.5
status by 03/04

2.3 Three programmes offered through distance/open learning Targeted programmes being delivered by distance using various 3 / 3
modalities by 03/04 blended approaches and modalities
- Career Development
- Education and Training
- Entertainment management

3. Existing Partnerships 3.1 Increased recognition/acceptance of qualification framework Collaboration in progress with Council of Community Colleges. 4 / 4
strengthened and New by MOEYC, Community Colleges and Universities by 03/04 Qualification framework reviewed with UCJ. VTDI achieved UCJ
Partnerships developed accreditation. UWI actively exploring competency-based training.
Two regional meetings held with MOEYC on introduction of
WEIGHT 13 framework in Secondary schools.

3.2 Articulation agreements deepened through expanded Collaboration deepened in the NTEI/UTECH and Ebony Park/CASE 3 / 3
UTECH/HEART and Joint Board on Teacher Education collaboration articulation agreements.
by 03/04
2 / 2
3.3 Ten (10) Industry Lead Groups re-organized and re-focused 14 Lead groups re-organised and re-focused.
to support new model by 03/04.
2 / 2
3.4 Rationalization of TVET project in Secondary Schools Project deepened in St. Elizabeth and Westmoreland with the
initiated in two new parishes and deepened in existing parishes by addition of workshops and laboratories.
03/04 2 / 2
Targeted parishes for
3.5 Five (5) new partnership-based projects (e.g. IDB, HISEP) Twelve (12) new partnerships developed and five implemented expansion are Kingston and
developed and at least three implemented by 03/04 St. Andrew. However, funds
are not yet available for this

4. Effective and 4.1 Non-3% programmes and commercial enterprise activity $224,461,066.11M achieved 3 / 3
Efficient Management of earnings increased to $215.7M by 03/04
Resources strengthened
4.2 Three percent (3%) collections increased to $2.45B by $2.685B achieved 4 / 4
WEIGHT 11 03/04.
YTD Actual Income - $3.181B vs. YTD budgeted of $2.817B. 2 / 2
4.3 Budget variance of Agency not to exceed 5% by 03/04. - % variance of 12.95%

YTD Actual expenditure - $2.956B vs. YTD budgeted of $2.797B.

- % variance of 5.66%

4.4 Per capita cost calculations used to assess efficiency and Costing Model to determine Training Cost by skill area completed. 2 / 2
rationalize financing of training (ROI, cost sharing) determined by
03/04.

H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT 12

 STRATEGIES/ WEIGHT / SCORE
PERFORMANCE INDICATORS ACTUAL PERFORMANCE
OBJECTIVES COMMENTS

5. Technical Services to 5.1 250 assessors selected and trained by 03/04 381 persons have so far been trained as assessors 2 / 2
support New TVET System
model instituted 5.2 Pilot project of new TVET model evaluated by 07/03 Report completed. Review conducted 15/05/03 2 / 2
Briefing held and findings of evaluation presented to Directors.
WEIGHT 14
5.3 Policies to facilitate revised TVET system model developed and Complete. 1 / 1
approved by 10/03. Submitted in July.

5.4 100 qualifications developed and validated in twenty areas Competency standards developed in 16 areas across 13 1 / 1
across ten industries by 03/04 industries.

5.5 100 qualification profiles developed and endorsed by lead 128 qualification profiles developed 1 / 1
groups by 03/04

5.6 IT systems developed and implemented to support revised On target

TVET model LMS pilot at VTDI using Adult Education and ICT programmes was 2 / 2
• Learning Management System acquired and installed in pilot successful VTDI on target for full roll
institutions by 03/04 NQR is complete. Migrated to internet in February out in April 2004
• National Register by 09/03

5.7 Instructional materials developed/acquired to support Two hundred and forty (240) Learner’s Guides completed for 2 / 2
competency standards for six sectors by 03/04 eight (8) sectors.
Three manuals also completed.

5.8 Awareness of NVQJ certification and NVQJ certified workers Programme to promote value of NVQ-J holders implemented. 1 / 1
promoted among employers and potential customers by 03/04 Press advertisements done and success story features highlighted

5.9 Entrepreneurship programme extended to THSs by 03/04 At least one teacher in all THSs trained and Principals and Vice 1 / 1
Principals sensitized to programme Full implementation in
technical high schools by
Sept 2004

5.10 Career Guidance materials for revised TVET model in at least Developed Trainee Manual for the Revised TVET model covering 1 / 1
two industries, developed by 03/04 four (4) industries.

6. Quality of Training/ 6.1 85% certification rate for programmes achieved by 03/04 90.2% certification rate achieved (of 20,928/ 20,539 persons 6 / 6
Delivery improved that sat exams 18,383/18523 passed)

WEIGHT 12 6.2 Instructor Quality Service Programme (IQSP) average score of Overall average score of 89.5% achieved YTD 3.5 / 3.5
90% achieved for instructors by 03/04

6.3 National Skills Competition conducted by 11/03 Successfully completed. A total of 320 competitors participated 2.5 / 2.5
in the event

7. Relevance of 7.1 Revised TVET system model implemented in ATOs as per Roll out of model commenced at ten (10) Academies/institutions, 3 / 3
Programme to Labour schedule by 03/04 (16) VTCs and twelve (12) Special Programmes projects.
Market and Social
Demand improved 7.2 Gender balances improved as per 5 Year Corporate Strategic The overall percentage distribution of males in HEART financed 3 / 2.8
targets i.e. no less than 46% male by 03/04 programmes is 43.1%
WEIGHT 12
7.3 Employers’ requests for services increased by 20% by 03/04 4,140 requests facilitated 2 / 1.6

7.4 Relevance of training programmes reviewed and adjustments Evaluation of ESD and Commercial Skills programmes and one 2 / 2
made in response to market needs by 03/04 institution – Garmex completed. 83 projects reviewed.

7.5 Job placement increased by 15% to 4,203 by 03/04 3,128 completers placed in jobs 2 / 1.5

8. Staff Human 8.1 Values integration programme implemented by 08/03 Core values workshops for Directors conducted. Values handbook 1.5 / 1.5
Resource Development developed 08/03, published 10/03 and distributed.
Programmes
strengthened and 8.2 Employee career & professional development plan Directors/Managers in process of developing career plans in 1.5 / 1
expanded implemented by 03/04 conjunction with staff. 68% of career plans submitted to date.

WEIGHT 10 8.3 55% of instructor core pursuing/upgrading to the degree level 62% of Instructors pursuing and/or upgraded to the degree level. 2 / 2
facilitate higher level training increased by 03/04

8.4 Organization re-structuring to support revised model completed Completed for NCTVET and LMS. Restructuring incomplete in 1.5 / 1.5
for NCTVET, LMS and NPD by 03/04 NPD- RPS. ITC now also being re-organized.

8.5 HRD programmes implemented for all HEART institutions, Extensive learning programme implemented and integrated 2 / 1.9
NCTVET, etc, to support revised TVET model by 03/04 with Instructor Quality Conference. Project management
training conducted for 65 employees. Leadership Development
programme developed 10/03.

8.6 100% of instructors in the system qualified by 03/04 98% of Instructors qualified to the diploma level. 1.5 / 1.4

TOTAL 100 / 97.2

13 HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T

 PERFORMANCE OF THE
NATIONAL TRAINING PROGRAMME

The National Training Programme and

the entire operation of the HEART Trust/NTA
are primarily funded by Jamaican employers
through their 3% payroll contributions.
Over 8,000 employers made
contributions of $2.684 billion to the
HEART Trust Fund for the period 2003-
2004 representing an increase of 18.66%
over the previous year.
The contributor base was widened for the
review period with some 1,116 employers
making payments for the first time, most of
them from the distributive sector. Thirty-two
corporate audits collected $36.61 million.
Officers of the Compliance Department
were also successful in collecting some
$154 million in audited arrears from
delinquent contributors during the period
under review.
The Compliance Department was one
of the revenue agencies that implemented
the 24 hour one-stop TCC issuance
procedure for electronic requests. Three
percent contributors will soon benefit from
an improved web-based Management
Information System (MIS), that enables
access to their payment data online.

RECRUITING FOR THE NATIONAL

TRAINING PROGRAMME
The Regional Programme Services (RPS)
Department continues to provide efficient
trainee recruitment, selection and placement
services. In the period under review, RPS
facilitated the recruitment and enrolment
of 45,239 applicants in all HEART financed
training programmes.
A total of 49 recruitment centres were
fully operational across the island, and
linkages continue to be strengthened with
the formal education system to maintain
school leavers participation in HEART
Training Programmes.

H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT 14

 The RPS conducted system audits related
to work experience and job placements and
facilitated the participation of 415 firms in job
readiness exercises.

THE HEART TRUST/NTA TRAINING

DELIVERY SYSTEM
The training delivery system of the
HEART Trust/NTA comprises the activities of
Academies, Institutes, Vocational Training
Centres, the School Leavers Training
Opportunities Programme (SLTOPs), Special
Programmes and partnerships with various
organizations across the island.
Additionally, the Technical High Schools
Development Project and the Workforce
Improvement Programme deliver training to the
nation’s fourteen technical highs and a variety
of firms and organisations in the public and
private sectors.

Academies & Institutes

The fiscal year 2003-2004 was one of
record achievement. The major focus was
concentrated on the implementation of the
New TVET Business Model. Although the
ambitious target of 46% male enrolment fell
short, the enrolment for the year exceeded the
previous year’s by 16%.
In terms of enrolment, the years’ target
of 14,696 was exceeded by 5.8% as 15,598
learners were actually enrolled at various levels
and in several programmes. The enrolment
achievement represents an overall increase
of 2,606 learners or 20% above the number
of learners enrolled in the previous period.
This increase in enrolment is in keeping with
the introduction of the New Model and the
organization’s thrust to expand access to
training, assessment and certification.
In terms of sector enrolment, the results
indicate that Early Childhood Care Givers
showed the highest increase of 164%,

15 HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T

 represented by a movement from 240 for
the corresponding period last year to 634
for the current period. This was followed by
the Hospitality sector with a 46% increase,
moving from 1,894 in the previous year to
2,760 in this fiscal year, while the Agricultural
and Information Communication & Technology
Sectors each showed strong positive growth.
Increase in Certification Rates
For the period under consideration, 4010
learners achieved the NVQJ certification (Level
I – 3469, (3446 on the old model and 23 on
the new model), Level II - 503 & Level III – 38),
3043 were jointly certified with NCTVET, while
1706 learners were non-NCTVET certified.
This resulted in an overall certification rate of
90% for all persons who were trained at the
institutions.
Runaway Bay Hotel and Training
Institute was re-audited for the Green Globe
certification, and maintained its status, as
well as certification of other critical areas
of operation such as the Health & Fire
Departments and Tourism Project Development
Company certification.
The HEART Trust/NTA has training
institutions and community-based programmes
in every parish of Jamaica.
During the year, 29 new partnerships were
secured. One major intervention occurred with
Ebony Park securing partnership arrangements
with the Jamaica Agricultural Development
Foundation in Organic Agro processing,
and subsequently the hosting of a Bio-Tech
symposium. The major objective was to
highlight the various organic farming variables
with a view to implementing a successful viable
organic project at Ebony Park.
Vocational Training Centres (VTCs)
The Vocational Training Centres achieved
a total of 2,576 certified completers for the
period under review. Of this number just over
1800 were certified in level one programmes,
while the others matriculated at level two. At
the end of the period, 1,952 persons were
H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT
awarded joint certification with the NCTVET,
1,089 more than last year.
All 16 centres implemented the revised
TVET model and at least two new partnership
agreements each. Eleven centres implemented
19 customized programmes during the year.
Rockfort, Junction, Black River, Seaford
Town, Old Harbour, Buff Bay and Boys Town
VTCs had their accreditation status reaffirmed.
Falmouth, Port Maria, Beechamville, Lluidas
Vale, Petersfield and Newport VTC received new
accreditation, while Granville and Above Rocks
have started the accreditation process.
There has been expanded training in
hospitality skills, as well as the introduction of
programmes in data operations and call centre
operations in the VTCs.
School Leavers Training Opportnities
Programme (SLTOPs)
Most of the objectives of the School
Leavers Training Opportunities (SLTOPs)
department were either achieved or surpassed.
607 persons achieved NVQ-J certification,
surpassing the target of 600.
Our partnership with industry remains
strong as 472 firms participated in on-the-
job certification programmes as against the
380 firms targeted. The pass rate for SL-TOPs
trainees exceeded the 90% target. 1754 firms
requested trainees.
Workforce Improvement Programme (WIP)
The Workforce Improvement Programme
continues to make a positive impact in industry
with 54 customized training programmes being
implemented in the period under review. 703
workers benefited from these programmes.
NCTVET awarded joint certificates to 253
persons, while the number of workers awarded
non-NCTVET certification was 221. In addition,
as part of the new TVET business model,
100 persons were assessed and deemed
competent in general construction, hospitality
and electrical installation skills.
Technical assistance was provided to
improve productivity at Caribbean Flavours,
Central Food Packers, Walkerswood Caribbean
Limited and HWE Mining & Contracting.
16
Special Programmes
During the period under review, 17 new
community-based projects were launched as
the Special Programmes Department surpassed
many of its targets. NVQJ Certification rate was
exceeded by 13% and Joint Certification by
37% in a number of skill areas.
Over 6,000 persons received access to
training opportunities, with 18 Community
Based Projects registered as training
providers. All projects forged at least two new
partnerships, and placed 94% of its completers
in jobs.
Vocational Training Development Institute
(VTDI)
During the review period, the Vocational
Training Development Institute, VTDI,
continued to reposition itself and restructure its
programmes.
The VTDI implemented, strengthened,
and expanded its degree and advanced
programmes for TVET professionals.
The following represents some of its
achievements:
• Participation in the B Ed. Programme
was deepened and strengthened with
the VTDI’s involvement in the delivery of
the programme being expanded
• B Sc. in Career Development
programme was accredited by the UCJ
and implemented in January 2004
• Diplomas in Motor Vehicle Technology
and Beauty Services were restructured
and are to be offered in September
2004
• Management Development Programme
was repackaged and a Leadership
Development Programme is being
developed and the CISCO training
programme was implemented.
The VTDI successfully implemented three
distance education sites (MIND – Mandeville,
CIT – Montego Bay and the VTDI, Gordon Town
Road) for the delivery of Distance Education
programmes.
The Programmes being offered through
these sites are:
17
• Entertainment Management Dr. Ethley London of the
University Council of Jamaica
• Career Development presents the letter granting
• Education and Training degree status to Donald Foster,
Chief Technical Director and
Edward Shakes, Principal/
The VTDI has also established new Director of the VTDI.
partnership agreements with MIND and CIT
and strengthened partnerships with UTECH and
the Edna Manley College for the Visual and
Performing Arts.
National Council on Technical, Vocational
Education and Training (NCTVET)
The NCTVET made significant gains in the
expansion of the NVQ-J certification system,
increasing the total number of individuals
certified. The NVQ-J certification was awarded
to 8,553 persons, while 6,924 persons
achieved NCTVET/Joint Certification. In
addition, just under 3,000 persons achieved
unit competencies.
During the year, a new TVET Council
and committees were established and a
national qualifications register established.
Fourteen lead groups were reorganized and
thirty-three technical groups operationalised.
The priority areas for the development of
standards were hospitality, building and
construction, agriculture, beauty services,
information technology, metal engineering and
transportation.
Eight hundred competency standards units
and four hundred assessment instruments
were developed and validated in fourteen
industries across twenty-four sectors.
HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T
 Board chairman in a happy
moment with retiring HEART
pioneer, Delores O’Connor
(2nd Right) and (from
left) Steadley Webster, first
HEART chairman, Pam
McKenzie, acting National
Programmes Director
and Joyce Robinson, first
managing director of HEART.
The HEART Trust
was founded in
1982 under the
HEART Act. The
role of National
Training Agency
was added in 1991
with an amendment
to the HEART Act.
H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT
Facilities standards were developed and
revised in 10 areas, among them secretarial,
painting & decorating, early childhood care, call
centre operations, customer service operations
and carpentry. The NCTVET also completed
128 qualifications for the 14 main industry
areas, and audits were conducted in all HEART
academies and VTCs to facilitate the delivery of
unit standards.
Technical High Schools Development
Project (THSDP)
The Vision of the THSDP is to refocus and
reposition programmes within our technical
high schools thereby creating “Centres of
Excellence” enabling a larger number of
graduates to obtain NCTVET certification
annually.
Emphasis was placed on:
(a) helping relevant personnel to acquire
the skills to manage their institutions
effectively
(b) improving the quality of teaching,
(c) increasing enrolment in NCTVET
programmes and
(d) obtaining increased levels of NVQJ
certification and passes in CXC
examinations
There was a 31% increase in student
entries for upcoming NCTVET exams, and
higher levels of certification are anticipated.
18
The Professional Guidance Information
Services (PROGIS) Unit
The PROGIS Unit achieved a milestone in
exposing stakeholders at various levels of the
Education and Training System to the concept
of “Career development as a Vehicle for
Change”.
The major objectives achieved were:
• the Development of a Lifelong Learning
strategy document
• the Introduction of the Career
Development concept to all major
stakeholders in the Education and
Training System
• Provision of technical services/products
to all clients
• Development of a Career Development
Programme for all Technical High
Schools and for schools in the TVET
Rationalization Project
• Development of materials for primary
schools
• the production of guidance materials
to support the revised TVET Business
Model.
The Unit also continued its association with
the Family Planning Board, UWI Placement
and Career Services Unit, Coalition for Better
Parenting and with various units within the
Ministry of Education, Youth and Culture.
NATIONAL QUALIFICATIONS FRAMEWORK

LEVEL AWARD TYPE ACCREDITING BODY CREDITS1 SUGGESTED DIRECT ENTRY REQUIREMENTS

Compulsory Education Awards Ministry of Education, Not Applicable

Caribbean Examination Council Not Applicable
Post Compulsory Education Awards-CXC NCTVET Determined by MOE
High School Equivalency Diploma (HISEP)

SECONDARY
1 Certificate 1
Directly Supervised Worker-- National Council on Technical and Min 20 Credits To be determined by the local training Institution
(Limited range) Vocational Education and Training 300 - 400 Hours
(NCTVET)

2 Certificate 2
Supervised Skilled Worker NCTVET Min 40 Credits Grade 9-10 achievement level, or to be
550 - 650 Hours determined by the local training Institution

3 Certificate 3
Independent or Autonomous Skilled Worker NCTVET Min 55 Credits 3 CXCs or equivalent or to be determined by
850 - 950 Hours the local training Institution

UCJ

POST SECONDARY TVET

4 Undergraduate Diplom
Diploma Min 60 Credits 3-4 CXCs or equivalent, or to be determined
Associate Degree 900-1200 Hours by the local training Institution
Certificate 4
Specialised or Supervisory Worker

EMPLOYMENT QUALIFICATIONS
NCTVET
N
(UCJ)

NCTVET
of Jamaica

5 Applied Degree/Degre
Degree/Degree Min 120 Credits Five CXCs, Undergraduate Diploma, Associate
University Council

Professional or Managerial Worker 1800 - 2000 Hours

Hours Degree or Equivalent

Higher Education Awards Bachelor’s Degree or higher

TERTIARY
Professional & Managerial Worker UCJ

• Note 1 – Credit is approximately 15 Instructional Hours, core competencies do not carry credit value
• Hours may vary depending on type of qualification. NCTVET qualifications carry additional requirements for information technology and entrepreneurship.
• Beginning at Level 4 and continuing in Level 5, education and training providers may prefer to be accredited by either UCJ or NCTVET, or by both. This depends on the academic vs.
employment objectives of the programme.
 PERFORMANCE OF THE
NATIONAL TRAINING PROGRAMME

financial perspective
last 5 years

3,000,000

2,500,000

2,000,000

1,500,000

1,000,000

500,000

0
Revenue Central Direct Total Surplus Surplus Capital
Administration Programme Expenditure Before After Expenditure
Delivery T
Taxation T
Taxation

AS OF MARCH 2004 2003 2002 2001 2000

enrolment figures 42,490

1999/2000 – 2003/4 fiscal year

35,000

34.500

34,000

33,500
NUMBER ENROLLED

33,000

32,500

32,000

31,500

31,000
31,00

30,500
30,50
1999/2000 2000/01 2001/02 2002/03 2003/04

FISCAL YEAR

H E A R T T R U S T / N T A 2 0 03 ANNUAL REPORT 20
 APPARE
PRODUC
BEA DUC
PRO

2%

3% URAL
10 %

L & SE W
UT S 3
AR

ER
YC %

LT
T&

TS

OTH
T

U
AR
CR

RIC
N
E
AF

AG
CO

T
M

2%
M
6%ERC G
IA IN ON
L ILD CTI
BU TRU
NS 14%
PRE- CO
VOC
A
CON TIONAL/ percentage
TIN
EDUC UING
A
PROG TONAL
RAM enrolment training
MES
8%
CABINET MAKING 2%
programmes
N/ MACH
ORTSTIO INE AN
TRANSP IVE
AP
MAINPLIANCE
D
O T
AUTOM TENA
N C
KILLS 2003/2004 fiscal year 7% E
TRADE S
7%

INF
CO ECH ILLS

OR
MM NO
19 ALIT Y

MA
T

&
UN LOG

TIO
IT
%

ICA Y
SK %

N
SP

TIO
18
HO

completions by broad training programmes

2003/2004 fiscal year
9342

4672

3705

1790

694
208 194 120
66
SPECIAL MOEYC SDC VTCs SL-TOPs APPRENTICE- ACADEMIES VTDI WIP
PROGRAMMES SHP

TR AINING PROGR AMMES

21 HEART TRUST/NTA 2003 AN N U A L R E P O R T

 SKILLS JAMAICA 2003, SHOWCASING THE VALUE
AND POTENTIAL OF THE JAMAICAN WORKFORCE
A first for Jamaica as we get ready to take Helsinki by storm in 2005
Fazal Karim, Trinidad and
Tobago, Trevor King, Barbadoes
and Robert Gregory and
Alister Cooke sign into being
the Caribbean Association of
National Training Agencies
(CANTA)
H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT
The Governor General of Jamaica, His
Excellency Sir Howard Cooke officially opened
Jamaica’s first ever National Skills Competition,
“Skills Jamaica” on Thursday, November 13,
2003 at the Indoor Sports Centre at the
National Stadium Complex.
The official opening by Sir Howard preceded
two days of the “Skills Jamaica” competition at
the National Arena.
22
JAMAICA AWARDED MEMBERSHIP IN
WORLD SKILLS
Edward Shakes, Director of the VTDI and Grace
McLean, manager of JAGAS, collect certificate of
membership form Jack Duesseldorp, World Skills
president, in Hong Kong.
The National Skills Competition focused on
the skills of persons in training, and is modeled
off the International Vocational Training
Organization’s (IVTO) World Skills Competition.
Jamaica plans to send a delegation to the
World Skills Competition in Helsinki, Finland in
2005.
There were over 300 entries from
across the island and in all the major skill
areas, namely agriculture, apparel, art
and craft, automotive technology, beauty
services, building and construction, culinary
arts, entertainment, hospitality, industrial
maintenance and information technology.
The major objectives of Skills Jamaica were :
• To showcase the skills, knowledge and
positive attitudes in the TVET system
• To positively promote TVET through
healthy competition
• To showcase the institutions contributing
to the development of TVET
• To develop and strengthen the
partnership between TVET institutions
and industry.
• To create a benchmarking activity that
will enable the assessment of the quality
of the outputs of the TVET system.
Jamaica is now a member of World Skills.
SCENES FROM SKILLS JAMAICA 2003

23 HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T

 HEART SUCCESS STORIES
Norman Anderson
HEART Portmore Graduate and
Entrepreneur
Norman Anderson is running a thriving
General Construction business in Portmore,
St. Catherine but it was not always like that.
It all started when he enrolled in the level one
training programme in masonry at the
Portmore HEART Academy six years ago
and since successfully completing his
course, he has not looked back.
“ I really enjoyed the stint at the
HEART Academy, as well as some
courses I did at the Vocational Training
Development Institute (VTDI) as the
curriculum was so applicable and
relevant to the needs of the industry.
With my background as an architectural
draughtsman, the addition of the training at
HEART helped me to serve my customers much
better,” says Mr. Anderson.
Anderson’s business Norcom Building
Systems offers general construction services
to residential customers mainly in the Portmore
area, and the focus is on expert workmanship
with a great attitude by his hardworking team
of 18 to 20 individuals.
“When we work on large projects, we may
have up to 45 workers at our sites, but we
stress the importance of professionalism and
service to all members of our team. We have
had a successful run and we have not been out
of work for a very long time. Our focus is not
necessarily becoming a bigger company, but
a better company and HEART certainly helped
me to do that.”
With a strong Christian background,
Anderson leads his team by example, as they
see each challenge as an opportunity to
excel and go beyond the call of duty to
satisfy every customer.
H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT 24
“HEART really changed my life, my focus, my
business. It’s a great place for Jamaicans to
come and be exposed to world-class, hands-on
training that empowers you to add value, either
to someone’s business or starting your own.”
Tosha Brown
Elecrician, ALPART
Tosha Brown is just one of the 130
apprentices that have been enrolled in the
Apprenticeship programme at ALPART in
partnership with the HEART Trust/NTA and she’s
loving every minute of the experience.
The ambitious young woman was in the
very first batch enrolled in 1999 and she’s
looking forward to completing her five-year
Diploma, majoring in instrument electrical.
“It’s been very special, especially since I am
doing well in an area that is traditionally male-
dominated. However, it’s no longer a man’s
world in any profession, it’s for those who are
willing to sacrifice the time and make the effort
to become qualified to global standards. That’s
what drives me, to be a world class worker, able
to compete with my counterparts any where in
the globe, whether man or woman,” says Tosha.
A daughter of Manchester, Ms. Brown had
no idea she would end up in the apprenticeship
programme at ALPART. After leaving the
Kingston Technical High School, she began a
Diploma course in education at the University
of Technology, focusing on food and nutrition.
“I then got a break to enroll in the
apprenticeship programme and I took it with
both hands. Yes, it’s a fundamental shift from
food and nutrition, but to get the opportunity
for hands on training with a multi-national
company does not come around very often and
five years on, I think I made the right decision.
Now I am looking forward to a very successful
career in this area.”
 Ms. Brown says the programme has Having completed the
been challenging but very rewarding and she programme, Conrod is now a
is strongly confident that she, along with full-time employee of ALPART,
her colleagues, will provide ALPART and by working as a Grade II Instrument
extension the bauxite industry with a pool of Electrician. He plans to
multi-faceted, technically skilled workers. really enjoy his career
“It’s all about attitude and application. The in the bauxite sector,
programme forces you to conduct yourself in while constantly
a professional and businesslike manner and improving
to meet targets, while maintaining the highest through
quality. What we have learnt on the job and additional
at the training school at ALPART’s Nain Plant studies
in St. Elizabeth are life skills that will forever and further
be with us. This gives us a solid foundation to on-the-job
excel and to provide the bauxite sector with training.
sustained quality workmanship,” notes Tosha. “I would
encourage
Conrod Haughton youngsters leaving
Elecrician, ALPART secondary school to
include this as a career
Conrod Haughton is another success option. My experience
story from the HEART Trust/NTA-ALPART has been overwhelming
Apprenticeship programme, recently – the training, the
completing the rigorous five-year on the job exposure to the
course. world of work and
A graduate of the Junction Vocational just seeing everything
Training Centre in St. Elizabeth and the actually unfold before
National Tool and Engineering Institute (NTEI) your eyes.”
in Kingston, Conrod entered the programme Conrod Haughton
with a sound knowledge of electrical says he’s definitely a
installation. He was excited about the prospect better person through
of working with professionals in the bauxite the Apprenticeship
industry, rubbing shoulders with the best in the programme and now he’s
industry. gearing up for a long and
“The experience at Alpart in the successful career in one
Apprenticeship programme has been of the major sectors of
tremendous as my knowledge has been the Jamaican economy.
broadened with exposure to welding,
millwrighting, instrumentation, air conditioning
and electrical installation. It was truly a
hands-on course with the best tutors,” says
Conrod.

25 HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T

 HEART SUCCESS STORIES
Uonie Lyn
JCDC Chef of the Year, 2003
She is petite and unassuming but Uonie
Lyn has the focus of a lioness stalking her
prey. Bent on achieving success, Uonie has
etched a career path in Hospitality and now
she is soaring to the top.
Uonie’s passion for the kitchen started
from the days of clips and ponytails
at the age of six. “ I always loved the
kitchen and always prayed I would have
a really big family so I could spend time
cooking for them. However, with my
entry into the hotel industry, I can pursue
my dream without having to go the expensive
route of a large family.”
After completing high school at Black
River in St. Elizabeth, Uonie enrolled at
HEART’s Culloden Vocational Training Centre
for training in Hospitality. She landed a job
upon graduation at the Breezes Montego Bay
Resort where she rose to head of the Italian
Restaurant, before moving to her current post
at the fabulous Ritz Carlton Hotel.
H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT
With an avid interest in international and
cultural cuisine, Uonie Lyn believes the Ritz is
the perfect place for her career and she hopes
to build on this foundation as she strives to
become an Executive Chef or the owner of her
own fine-dining restaurant.
In the 2003 JCDC Culinary Competition,
she led the Ritz Carlton team to gold, and
in the individual competition, she won the
prestigious title of chef of the year, the first
woman to achieve this.
“I am so glad that HEART gave me this
wonderful opportunity to pursue my dreams.
I am looking forward to a great career in
hospitality,” says Uonie.
26
 BOOM IN HOSPITALITY INDUSTRY
HEART ready to accept the challenge to meet the need for more certified workers

The official report on the performance of

the tourism sector in 2003 indicates that it
was one of the best years ever, and with the
planned opening of several new hotels over the
next three to five years, the demand for trained
personnel will be even greater.
For many years now, the HEART Trust/NTA
has been the leading trainer and provider of
human resources in the hospitality sector,
either through on-the-job training or through
the academies, vocational training centres and
special programmes.
The Trust’s flagship institution in the
industry, the Runaway Bay Hotel and Training
Institute is the only training hotel of its kind on
the island.
The Trust is gearing up for the expansion
in tourism by widening the access to training
Karl Thomas, Sous Chef, Hilton Kingston Hotel
in hospitality through the modularization of
its programmes, whereby persons can access The Trust also intends to build on its
units of competence as they build their many partnerships with local and overseas
portfolio towards full certification. institutions and hotels to ensure maximum
exposure for its trainees, while providing world-
class employees for the workforce.
It is against this background that recent
memoranda of understanding have been
signed with the Sandals Hotel chain, which
will see Culloden Vocational Training Centre
providing hospitality training for staff at the new
Beaches Whitehouse in Westmoreland. HEART/
NTA is also involved in training partnerships at
Beaches Boscobel resort in St. Mary.
HEART also maintains a strong association
with all other major players in the industry,
with the many planned projects, there is every
indication that more people will be trained
in hospitality over the next five years to take
advantage of these opportunities.

27 HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T

 MAJOR MOVES IN THE
BAUXITE/ALUMINA SECTOR
Unique Partnership with Alpart , JAMALCO Expansion unveiled
Most of HEART’s training budget is spent in
three sectors – Hospitality, Information &
Communication Technology, and Building
Construction
H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT
The multi-million dollar expansion of the
bauxite/alumina firm, JAMALCO, has created
the need for a specialized pool of highly-trained
and certified technical workers.
The Trust is working closely with JAMALCO
to devise programmes to train and certify their
existing workforce, as well as to prepare new
persons to take advantage of the opportunities
to serve in this important industry.
HEART has also partnered with Alumina
Partners of Jamaica (ALPART) to develop an
enterprising and far reaching Apprenticeship
programme which has revolutionized the
company’s operations and helped to set it on a
pace of improved efficiency and productivity.
The HEART Trust/NTA-ALPART
Apprenticeship programme is now in its fifth
year, and arose from a visionary and deliberate
move by the Trust to ensure that the workforce
in the bauxite industry was consistently being
retooled and retrained to replace retiring
employees, and to keep apace with emerging
trends in a globalised environment.
General Manager of ALPART Jamaica,
Darrel Harriman describes the Apprenticeship
programme as one of the winners at the plant
and has strongly recommended that it be
duplicated in the entire bauxite sector.
With the input of the apprentices and other
employees, ALPART has experienced a boom
in production and efficiency, with 2003 being
its best year ever.
Last year, the company recorded
production of 1,529,100 metric tones of
28
Alumina, surpassing the previous annual
best production of 1,508,500 metric tones
recorded in 1999. The 2003 performance
was also a 9% increase over the 2002 total of
1,430,700 metric tonnes. The Apprenticeship
programme is aimed at helping the company
to continue this record-breaking trend and to
JAMALCO contractors pose
achieve sustained growth. questions to the HEART/NTA
Since 1999, 130 young men and women Executive Director at a meeting at the
Halse Hall Plant.
have been enrolled in the Apprenticeship
programme, a total of five batches. Each
batch spends 4 to 5 years in training and
at the end persons receive a Diploma
in Millwrighting, Pipefitting, Electrical
Maintenance, Instrument and Mechanical
Maintenance.
The Diploma is recognized at level three
of the internationally-accepted National
Vocational Qualification of Jamaica (NVQ-J).
The first batch of graduates received their
certification at an awards ceremony held at the
Kendal Conference Centre in Manchester in
November 2003. 28 of the 30 graduates who
completed the programme have been offered
full time employment at ALPART, while the
others have been offered jobs by independent
contractors. Therefore, the employment rate
for those who have completed the programme
so far is 100 per cent.
One of the graduates, Alanzo Balwin, has
been promoted to the post of Maintenance Alanzo Balwin (left), the inaugural
Supervisor at Alpart, while another, Courtney recipient of the Eugene P. Miller Award
of Excellence, given by ALPART to
Witter is an Assistant Instructor in the Training the most outstanding graduate of the
School for the current batch of apprentices. apprenticeship programme.

29 HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T

 TRAINING AND CERTIFYING
WORLD CLASS WORKERS IN THE
BUILDING AND CONSTRUCTION INDUSTRY
Learners at the Portmore The Building and Construction sector is one
HEART Academy
of the most vibrant in the Jamaican economy,
making a significant contribution of almost
eight percent to the nation’s Gross Domestic
Product and employing workers all across the
country.
With the announcement of major projects
in the bauxite/alumina and tourism sectors over
the next three years, plus existing projects,
more pressure will be faced by the building and
construction industry to provide more trained
and certified construction workers.
HEART enjoys a 97% approval rating from
Jamaican Employers in a survey carried out
by the Stone polling organization in 2002.
H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT 30
The National Training Agency has
unveiled a comprehensive programme of
training and certification to ensure that the
sector will have employees with the tools
required to complete the projects and to
generally maintain a high standard in the
industry.
It was against this background that
the Trust signed a Memorandum of
Understanding with the Incorporated Master
Builders Association of Jamaica (IMAJ) to
drive training and certification of workers in
the industry to world-class standards.
Under the terms of the MOU, the
IMAJ has committed to the requirement
that workers at all levels in the Building
and Construction industry are certified to
international standards as a pre-requisite for
employment.
The HEART Trust/NTA is providing training
for persons in the industry through their
training institutions, and certification will
come from the National Council on Technical
Vocational Education and Training (NCTVET).
 IMAJ President Don Mullings has endorsed
the partnership and noted that the days of an
untrained workforce in the building construction
sector were over. Mr. Mullings noted that
members of the IMAJ were committed to the
MOU, noting that it would bring a higher level
of professionalism to the industry, and put
companies at a distinct advantage to deliver
improved service to their clientele.
HEART’s focus on the Building/Construction
Industry is deliberate and focused. Enrolment
in training programmes for this sector for
2003/04 is just over 4,700 and this number
is projected to rise to just under 9,500 by
2005/6 and over 12,000 by 2006/7.
The HEART Trust is committed to achieving
a globally-trained workforce in the sector
through the provision of first-rate instructors
and assessors, as well as customized on the
job training.
HEART/NTA is also committed to the
development of a National Register of certified
workers in the industry which will impact institution for Building and Construction TOP:
HEART/Masterbuilders deal:
positively on competitiveness, profitability is the Portmore HEART Academy in St. Signing for the IMAJ, President
and world class standards. HEART’s flagship Catherine. The Academy, and other Don Mullings, Executive Director
training institutions in the HEART family, Paulette Dunn-Smith, Sr. Director,
NCTVET and Robert Gregory,
have consistently responded to demands under the watchful gaze of Director
from the construction sector and they are of Standards Development, Ludlow
well-positioned to ensure that first-class Thompson.

training is offered. ABOVE:

Century-Eslon’s CEO, Mark
Lankester presents financial support
to Sandra Berry, Manager Portmore
Academy. Don Mullings shares in
the moment.

31 HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T

 THE INFORMATION COMMUNICATIONS
AND TECHNOLOGY SECTOR
HEART leads the way

Every learner enrolled in a programme

at the HEART Trust/NTA is exposed to
Information Technology. This is the policy of the
organization as it recognizes the importance of
Information Communications and Technology to
the 21st century worker.
As one of the leading trainers in ICT in
Jamaica, HEART has invested heavily in
building and outfitting labs at the Vocational
Training Development Institute, VTDI, its
Academies, Vocational Training Centres and
Institutes. The Agency is the lead player in the
Caribbean Institute of Technology, CIT, which
marked its fifth year of operation in 2004.
The CIT is designed to teach the concepts
and skills required for a career in software
development and over the past five years
it has grown immensely and is well on the
way to fulfill a mission to design and deliver
high-quality competency-based computer
programming training in Jamaica to take
advantage of high-end job opportunities in the
global information technology sector.
The opening of CIT in 1999 marked the
culmination of discussions, explorations,
forging of working relationships, planning, and
work in three countries.
In early 1998, discussions began involving
the University of the West Indies in Mona,
Jamaica, Furman University in Greenville, the
HEART Trust/NTA, the Ministry of Commerce
and Technology, the Montego Bay Free Zone,
the International Development Consortium
(affiliated with the University of Hertsfordshire
in London), and a software company, Indusa,
LLC, in Atlanta, Georgia, USA.

H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT 32

 These talks were to explore the feasibility
of establishing a computer programming
training institute in Jamaica. The CIT was then
established as a collaborative venture among
these seven partners. Curriculum planning
and development was coordinated by Furman
University and the University of the West
Indies.
Since inception, the Caribbean
Institute of Technology has been offering a
Diploma Programme in Software Design &
Programming and added the CISCO Certified
Networking Programme.

Associate (CCNA) Programme in August

2003.
As of January 2004, CIT started offering
two Diplomas and four Certificate Programmes.
HEART is also a lead partner in a new
Jamaican-based network organization,
Information Communications Technologies
Networking (ICT4D), which was officially
launched recently.
ICT4D is an open, Jamaican-based
network organization established to define,
promote and facilitate the use of information
and communications technology in the
development process.
The mission of the new organization is
to study, understand and share knowledge
about the emerging technologies, their uses
and applications, as well as to promote
the development of models, which will lead
to cultures of efficiencies that will rapidly
transform the way business is conducted in
Jamaica.
ICT4D’s approach is one based on Sam Bowen, managing director
partnership with existing entities, taking full of CIT, in a light moment
with Commerce, Science and
advantage of Information Communication and Technology Minister, Phillip
Technologies (ICTs) to develop the group and Paulwell.
maintain its services.
Membership in the company is open to all
individuals and groups from Jamaica, the region
and internationally, who have an interest in
or knowledge of the application of ICTs in the
development process. The official website for
ICT4D is www.ict4djamaica.org.
The Caribbean Institute of Technology, since its
inception in 1999, has trained and certified over 600
software programmers.

33 HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T

 SENIOR EXECUTIVES EMOLUMENTS

REIMBURSED
VACATION PERFORMANCE UNIFORM
POSITION SALARY GRATUITY TRAVEL TOTAL
ALLOWANCE INCENTIVE ALLOWANCE
EXPENSES

Executive Director 5,433,333 1,358,333 80,000 635,916 772,135 39,833 8,319,550

Snr Director -HEART Trust Fund 3,533,333 883,333 635,916 498,695 39,833 5,591,110

Chief Technical Director 3,533,333 883,333 635,916 507,104 39,833 5,599,519

Snr Director - HRPD 3,185,274 0 635,916 440,523 39,833 4,301,546

Snr Director -Planning & Projects 3,185,274 796,319 635,916 457,596 39,833 5,114,938

Snr Director - NCTVET 3,400,000 0 635,916 482,936 39,833 4,558,685

National Programme Director 3,400,000 0 635,916 500,072 39,833 4,575,821

Chief Information Officer 3,185,274 796,319 635,916 463,967 39,833 5,121,309

H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT 34

 PricewaterhouseCoopers
Scotiabank Centre
Duke Street
Box 372
Kingston Jamaica
Telephone (876) 922 6230
Facsimilie (876) 922 7581
www.pwc.com/jm

9 July 2004

To the Members of
Human Employment and Resource Training Trust
Kingston

AUDITOR’S REPORT

We have audited the financial statements set out on pages 36 to 60, and have received all the information and explanations, which
we considered necessary. These financial statements are the responsibility of the Trust’s management. Our responsibility is to
express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with International Standards on Auditing. Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, proper accounting records have been kept and the financial statements, which are in agreement therewith, give a true
and fair view of the state of the Trust’s affairs as at 31 March 2004 and of the results of operations, statement of changes in fund
and cash flows for the year then ended, and have been prepared in accordance with International Financial Reporting Standards and
comply with the provisions of the Jamaican Companies Act.

Chartered Accountants
Kingston, Jamaica

E.L.McDonald R.L. Downer J.L.M. Bell M.G Rochester P.W. Pearson E.A. Crawford D.V. Brown
J.W. Lee C.D.W. Maxwell P.E. Williams G.L. Lewars L.A. McKnight L.E. Augier A.K. Jain
 Page 1
Human Employment and Resource Training Trust
Human Employment and Resource Training Trust
INCOME AND EXPENDITURE ACCOUNT
Income and Expenditure Account
Year ended 31 March, 2004
Year ended 31 March 2004

Note 2004 2003

$’000 $’000
Income
Employers’ 3% contribution 2,683,609 2,262,801
Finance income 3 244,078 151,379
Institutional earnings 246,650 188,397
Profit on sale of fixed assets 891 3,321
Miscellaneous 12,834 10,937
3,188,062 2,616,835

Expenses
Facilities costs 575,867 447,968
Training costs 1,764,431 1,551,540
Personnel/administration costs 344,821 231,547
Other operating costs 186,500 155,021
Refurbishing of technical high schools 18,803 18,049
2,890,422 2,404,125

Surplus before Taxation 4 297,640 212,710

Taxation 6 (122,807) -
Net Surplus 174,833 212,710

H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT 36

Human Employment and Resource Training Trust
Page 2
B A L A N Employment
Human CE SHEET and Resource Training Trust
31 March, 2004
Balance Sheet
31 March 2004

Note 2004 2003

$’000 $’000
Non-Current Assets
Property, plant and equipment 7 1,451,231 1,336,627
Construction in progress 8 93,504 52,971
Pension plan asset 9 310,395 242,962
Loans receivable 10 28,246 32,777
Investments 11 340,485 122,512
Current Assets
Inventories 12 37,077 31,650
Receivables, prepayments and deposits 13 180,366 121,720
Due from other agencies 14 10,405 3,142
Taxation recoverable 26,333 27,533
Short term investments 15 724,581 876,358
Cash at bank and in hand 58,329 38,631
1,037,091 1,099,034
Current Liabilities
Bank overdraft 16 19,166 56,851
Accounts payable and accruals 704,180 593,094
Due to other agencies 14 14,419 12,435
737,765 662,380

Net Current Assets 299,326 436,654

2,523,187 2,224,503
Equity
Accumulated HEART Fund 2,336,544 2,161,711
Fair value reserve 17 8 (143)

2,336,552 2,161,568
Non Current Liabilities
Employee benefit obligation 9 75,968 62,935
Deferred taxation 18 110,667 -
186,635 62,935
2,523,187 2,224,503
July 9, 2004

Approved
d for issue by the Board of Directors on 9 July, 2004, and signed on its behalf by:

Alister Cooke Chairman Robert Gregory Director

37 HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T

 Human Employment and Resource Training Trust Page 3
S TATEM
Human E N T O F C Hand
Employment A N Resource
G E S I N E Training
QUITY Trust
Year ended 31 March, 2004
Statement of Changes in Equity
Year ended 31 March 2004

Fair Value Accumulated

Note Reserve HEART Fund Total
$’000 $’000 $’000

Balance at 1 April 2002, as restated 24 (a) - 1,949,001 1,949,001

Unrealised gains/(losses) on available for sale
investments (138) - (138)
Reclassified and reported in surplus (5) - (5)
Net losses not recognised in Income and
Expenditure Account (143) - (143)
Surplus, as restated 24 (c) - 212,710 212,710
Balance at 31 March 2003, as restated 24 (b) (143) 2,161,711 2,161,568
Unrealised gains/(losses) on available for sale
investments 1,387 - 1,387
Reclassified and reported in surplus (1,236) - (1,236)
Net gains not recognised in Income and
Expenditure Account 151 - 151
Surplus for year - 174,833 174,833

Balance at 31 March 2004 8 2,336,544 2,336,552

H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT 38

Human Employment and Resource Training Trust
STATEMENT OF CASH FLOWS Page 4
Human Employment and Resource Training Trust
Year ended 31 March, 2004
Statement of Cash Flows
Year ended 31 March 2004

Note 2004 2003

$’000 $’000
CASH RESOURCES WERE PROVIDED BY/(USED IN):
Operating Activities
Surplus for year 174,833 212,710
Items not affecting cash resources:
Depreciation 116,991 105,637
Income tax expense 12,140 -
Deferred tax expense 110,667 -
Changes in retirement benefit asset/obligation (54,400) (44,990)
Profit on sale of fixed assets (891) (3,321)
359,340 270,036
Changes in non-cash working capital components:
Inventories (5,427) (12,218)
Receivables, prepayments and deposits (58,646) (17,351)
Due from other agencies (7,263) (626)
Taxation recoverable (10,940) -
Accounts payable and accruals 111,085 58,778
Due to other agencies 1,984 (4,073)
Cash provided by operating activities 390,133 294,546
Investment Activities
Proceeds from sale of fixed assets 940 4,376
Purchase of fixed assets (195,745) (144,639)
Purchase of investments (35,081) (454,146)
Expenditure on construction in progress (76,288) (63,177)
Loans receivable 4,531 (5,244)
Cash used in investing activities (301,643) (662,830)
Increase/(decrease) in cash and cash equivalents 88,490 (368,284)
Cash and cash equivalents at beginning of year 404,768 773,052
CASH AND CASH EQUIVALENTS AT END OF YEAR 493,258 404,768

Represented by:
Cash at bank and in hand 58,329 38,631
Short term investments 15 454,095 422,988
Bank overdraft 16 (19,166) (56,851)
493,258 404,768

39 HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T

 Human Employment and Resource Training Trust
NOTES TO THE FINANCIAL STATEMENTS
Page 5
31 March, 2004
Human Employment and Resource Training Trust
Notes to the Financial Statements
31 March 2004

1. Identification and Activities

The Human Employment and Resource Training Trust (referred to as “The Trust”) is a statutory body, incorporated in
Jamaica under the Human Employment and Resource Training Act 1982 (HEART Act), with registered office at 6B Oxford
Road, Kingston 5.

The main activities of the Trust comprise the development of and provision of finance for training schemes, employment
opportunities for learners (trainees) and the co-ordination of technical training at the national level in Jamaica.

The HEART Act provides for the establishment of a special fund referred to as the HEART Fund, which requires employers
to contribute 3% of their gross payroll to the Trust, less permitted payments to the Trust’s registered learners. The
Commissioner of Inland Revenue collects the contributions payable to the Trust, as defined by the Act, and deposits
these amounts into the HEART Fund.

On 23 December 2003, Section 8 of the Human Employment and Resource Training Act 1982 (“the HEART Act”), which
granted the Trust tax exempt status was removed. As a result of this amendment, the Trust is now liable to pay income
tax on its surplus (Note 6).

All amounts in these financial statements are stated in Jamaican dollars, unless otherwise indicated.

2. Significant Accounting Policies

(a) Accounting convention

These financial statements have been prepared in accordance with International Financial Reporting Standards
(IFRS), and have been prepared under the historical cost convention as modified by the revaluation of available-
for-sale investment securities.

Jamaica adopted IFRS as its national accounting standards for accounting periods beginning on or after 1 July
2002. The financial statements for the year ended 31 March 2004 have therefore been prepared in accordance
with IFRS and comparative information has been restated to conform with the provisions of IFRS. In particular,
the Trust has opted for early adoption of IFRS 1, First-time Adoption of International Financial Reporting Standards
and has applied the provisions of that standard in the preparation of these financial statements. The effects of
adopting IFRS on the equity and net profit as previously reported are detailed in Note 23.

The preparation of financial statements in conformity with IFRS requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and
liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the
reporting period. Actual results could differ from those estimates.

(b) Revenue recognition

Employers’ contributions are recognised as income when received by the Trust from the Commissioner of Inland
Revenue, as mandated by the HEART Act.

Interest income and institutional earnings are recorded on the accrual basis. Where collection of interest income
is considered doubtful, interest income is thereafter recognised based on the rate of interest that is used to
discount the future cash flows for the purpose of measuring the recoverable amount.

Any sale of goods or provision of service by the Trust is recognised on an accrual basis, on completion of the
underlying service or transaction.

Gains and losses arising from trading in foreign currencies are recognised when realised and are shown net in the
income and expenditure account.

H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT 40

 Human Employment and Resource Training Trust
NOTES TO THE FINANCIAL STATEMENTS Page 6
Human Employment and Resource Training Trust
31 March, 2004
Notes to the Financial Statements
31 March 2004

(c) Property, plant and equipment

Furniture, fixtures, equipment and computers are shown at deemed cost, less subsequent depreciation for these
assets. Under IFRS1, a first-time adopter may elect to use a previous GAAP revaluation of an item of property,
plant and equipment as its deemed cost. The Trust has elected to apply this provision. All other property, plant
and equipment are stated at historical cost less accumulated depreciation and impairment losses.

Depreciation is calculated on the straight-line basis at annual rates that will write off the carrying value of each asset
over the period of its expected useful life. Annual depreciation rates are as follows:

1
Buildings 2 /2%
Motor vehicles 25%
1
Computers 20-33 /3%
Furniture, fixtures and equipment 10%
Utensils 20%
Leasehold improvements over period of lease

Land is not depreciated.

(d) Investments
Investments are classified into the following categories: originated loans, held to maturity and available-for-sale
securities. Management determines the appropriate classification of investments at the time of purchase.

Originated debt securities include those where money is provided to the issuer, either directly or through an
intermediary, other than those that are originated with the intent to be sold immediately or in the short-term. They
are initially recorded at cost, which is the cash given to originate the debt including any transaction costs, and
subsequently measured at amortised cost using the effective interest rate method.

Held to maturity investments are non-derivative financial assets with fixed or determinable payments and fixed
maturities that the Trust management has the positive intention and ability to hold to maturity. They are measured
at amortised cost using the effective interest rate method.

Available-for-sale securities are those intended to be held for an indefinite period of time and which may be sold in
response to needs for liquidity or changes in interest rates, foreign exchange rates or market prices. They are
initially recognised at cost, which includes transaction costs, and subsequently remeasured at fair value based on
quoted bid prices or amounts derived from cash flow models. Unrealised gains and losses arising from changes in
fair value of available-for-sale securities are recognised in fair value reserve. When the securities are disposed of
or impaired, the related accumulated unrealised gains or losses included in fair value reserve are transferred to the
income and expenditure account.

A financial asset is considered impaired if its carrying amount exceeds its estimated recoverable amount. The
amount of the impairment loss for assets carried at amortised cost is calculated as the difference between the
asset’s carrying amount and the present value of expected future cash flows discounted at the original effective
interest rate. The recoverable amount of a financial asset carried at fair value is the present value of expected
future cash flows discounted at the current market interest rate for a similar financial asset.

All purchases and sales of investment securities are recognised at settlement date.

41 HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T

 Human Employment and Resource Training Trust
NOTES TO THE FINANCIAL STATEMENTS
31 March, 2004
Page 7
Human Employment and Resource Training Trust
Notes to the Financial Statements
31 March 2004
2. Significant Accounting Policies (Continued)

(e) Inventories
Inventories are valued on at the lower of cost and net realisable value, cost being determined on a first-in, first-out
basis.

(f) Grant funds

Certain grant funds are administered by the Trust on behalf of other agencies. These amounts are treated as
liabilities of the Trust until expended and are not included as income.

Grant funds received exclusively for the Trust are treated as income in the year they are received.

(g) Technical assistance

The provision of technical assistance at no cost to the Trust is neither quantified nor included in these financial
statements.

(h) Employee benefits

(i) Pension plan assets

The Trust operates a defined benefit plan. The scheme is generally funded through payments to a trustee-
administered fund as determined by periodic actuarial calculations. A defined benefit plan is a pension plan that
defines an amount of pension benefit to be provided, usually as a function of one or more factors such as age,
years of service or compensation.
The asset or liability in respect of defined benefit pension plans is the difference between the present value of
the defined benefit obligation at the balance sheet date and the fair value of plan assets, together with
adjustments for actuarial gains/losses and past service costs. The defined benefit obligation is calculated
annually by independent actuaries using the projected unit credit method. The present value of the defined
benefit obligation is determined by the estimated future cash outflows using interest rates of government
securities which have terms to maturity approximating the terms of the related liability.
Actuarial gains and losses arising from experience adjustments, changes in actuarial assumptions and
amendments to pension plans are charged or credited to income over the average remaining service lives of
the related employees.

(ii) Other post-retirement obligations

The Trust also provide post-retirement healthcare benefits to its retirees. The entitlement to these benefits is
usually based on the employee remaining in service up to retirement age and the completion of a minimum
service period. The expected costs of these benefits are accrued over the period of employment, using
accounting methodology similar to that for defined benefit pension plans. These obligations are valued annually
by independent qualified actuaries.

H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT 42

Human Employment and Resource Training Trust
NOTES TO THE FINANCIAL STATEMENTS
Page 8
31 March, 2004
Human Employment and Resource Training Trust
Notes to the Financial Statements
31 March 2004

2. Significant Accounting Policies (Continued)

(i) Financial instruments

Financial instruments carried on the balance sheet include cash and bank balances, investments, loans receivable,
balances with other agencies, accounts receivable, bank overdraft and accounts payable and accruals. The
particular recognition methods adopted are disclosed in the individual policy statements associated with each item.

The determination of the fair value of the Trust’s financial instruments are discussed in Note 20.

(j) Income taxes

Taxation expense in the income and expenditure account comprises current and deferred tax charges.

Current tax charges are based on taxable surplus for the year, which differ from the surplus before tax reported
because it excludes items that are taxable or deductible in other years, and items that are never taxable or
deductible. The Trust’s liability for current tax is calculated at tax rates that have been enacted at balance sheet
date.

Deferred tax is the tax expected to be paid or recovered on differences between the carrying amounts of assets
and liabilities and the corresponding tax bases. Deferred income tax is provided in full, using the liability method,
on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the
financial statements. Currently enacted tax rates are used in the determination of deferred income tax.

Deferred tax assets are recognised to the extent that it is probable that future taxable profit will be available
against which the temporary differences can be utilised.

Deferred tax is charged or credited in the income and expenditure account, except where it relates to items
charged or credited to equity, in which case, deferred tax is also dealt with in equity.

(k) Loans receivable

Loans are recognised when cash is advanced to borrowers. They are initially recorded at cost, which is the cash
given to originate the loan including any transaction costs, and are subsequently measured at amortised cost using
the effective interest rate method.

A provision for credit losses is established if there is objective evidence that a loan is impaired. A loan is considered
impaired when management determines that it is probable that all amounts due will not be collected according to the
original contractual terms. When a loan has been identified as impaired, the carrying amount of the loan is reduced by
recording specific provisions for credit losses to its estimated recoverable amount, which is the present value of
expected future cash flows including amounts recoverable from guarantees and collateral, discounted at the original
effective interest rate of the loan.

The provision for credit losses also covers situations where there is objective evidence that probable losses are
present in components of the loan portfolio at the balance sheet date. These have been estimated based upon
historical patterns of losses in each component, the credit ratings allocated to the borrowers and reflecting the
current economic climate in which the borrowers operate.

43 HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T

 Human Employment and Resource Training Trust
NOTES TO THE FINANCIAL STATEMENTS
Page 9
31 March, 2004
Human Employment and Resource Training Trust
Notes to the Financial Statements
31 March 2004

2. Significant Accounting Policies (Continued)

(k) Loans receivable (Continued)

Write-offs are made when all or part of a loan is deemed uncollectible or in the case of debt forgiveness. Write-offs
are charged against previously established provisions for credit losses and reduce the principal amount of a loan.
Recoveries in part or in full of amounts previously written-off are credited in the income and expenditure account.

(l) Trade receivables

Trade receivables are carried at original invoice amount less provision made for impairment of these receivables. A
provision for impairment of these receivables is established when there is objective evidence that the Trust will not
be able to collect all amounts due according to the original terms of receivables. The amount of the provision is
the difference between the carrying amount and the recoverable amount, being the present value of expected
cash flows, discounted at the market rate of interest for similar borrowers.

(m) Provisions
Provisions are recognised when there is a present legal or constructive obligation as a result of past events, if it
is probable that an outflow of resources will be required to settle the obligation and a reliable estimate of the
amount of the obligation can be made.

(n) Payables
Payables are recorded at cost.

(o) Cash and cash equivalents

Cash and cash equivalents are carried in the balance sheet at cost. For the purposes of the cash flow statement,
cash and cash equivalents comprise cash and bank balances, deposits held at call with banks, and other short-
term highly liquid investments with original maturities of three months or less, net of bank overdrafts.

(p) Foreign currency translation

Transactions during the year are converted at the rates of exchange ruling on transaction dates. Assets and
liabilities are translated at rates of exchange ruling at balance sheet date. Gains and losses arising from fluctuations
in exchange rates are included in the income and expenditure account.

(q) Comparative information

Where necessary, comparative figures have been reclassified to conform with changes in presentation in the
current year. In particular, comparatives have been adjusted or extended to reflect the requirements of IFRS (Note
23).

3. Finance Income
2004 2003
$’000 $’000
Interest income 237,366 141,714
Foreign exchange gain 6,712 9,665
244,078 151,379

H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT 44

Human Employment and Resource Training Trust
NOTES TO THE FINANCIAL STATEMENTS
31 March, 2004 Page 10
Human Employment and Resource Training Trust
Notes to the Financial Statements
31 March 2004

4. Operating Surplus before Taxation

The following items have been charged/(credited) in arriving at operating surplus before taxation:

2004 2003
$’000 $’000
Depreciation 116,991 105,637
Profit on sale of fixed assets (891) (3,321)
Directors’ emoluments
Management remuneration 8,872 7,460
Directors’ fees 745 988
Auditors’ remuneration 2,600 2,083
Staff costs (Note 5) 1,304,890 1,097,888

5. Staff Costs
2004 2003
$’000 $’000
Wages and salaries 1,133,957 946,933
Termination costs 7,715 1,736
Statutory contributions 52,271 38,659
Pension (note 9) 7,910 6,673
Other post retirement benefits (note 9) 13,615 12,399
Other 89,422 91,488

1,304,890 1,097,888

Staff costs and director’s emoluments above include the compensation packages of the Trust’s Executive Director and
other senior executives amounting to approximately $44,244,100 (2003 $38,701,294).

The number of persons employed by the Trust at the end of the year were as follows:

2004 2003

No. No.

Full-time 1,099 1,052

Part-time 517 407

45 HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T

 Human Employment and Resource Training Trust
NOTES TO THE FINANCIAL STATEMENTS
31 March, 2004 Page 11
Human Employment and Resource Training Trust
Notes to the Financial Statements
31 March 2004

6. Taxation

Previously, under the Section 8 of the HEART Act, the Trust was exempt from income tax, education tax, property
tax, transfer tax and general consumption tax. On 23 December 2003, Section 8 of the HEART Act was removed. As
a result of this amendment, the Trust is now liable to pay income tax on its surplus.

Taxation is based on the surplus for the period from 24 December 2003, adjusted for taxation purposes and comprises
income tax at 33 1/3%:

2004
$’000
Current income tax 12,140
Deferred tax (note 18) 110,667
122,807

The tax charge on the Trust’s surplus differs from the theoretical amount that would arise using the statutory tax
rate as follows:

2004
$'000

Surplus before tax 297,640

Tax calculated at a rate of 33 1/3% 99,214

Adjusted for the effect of:
Income not subject to tax (74)
Expenses not deductible for tax 76
Effect of increase in tax relating to prior year 76,450
Surplus exempt from tax from 1 April 2003 to 23 December 2003. (52,859)
Income tax expense 122,807

H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT 46

Human Employment and Resource Training Trust
NOTES TO THE FINANCIAL STATEMENTS Page 12
31 March, 2004
Human Employment and Resource Training Trust
Notes to the Financial Statements
31 March 2004

7. Fixed Assets

$'000 $'000 $'000 $'000 $'000 $’000 $'000

At Cost -
1 April 2003, as restated 45,800 1,067,059 80,920 191,980 364,381 7,749 1,757,889
Additions - 2,143 6,008 79,183 108,411 - 195,745
Transfers from construction
in progress 36,296 36,296
Disposals (2,173) (180) (2,034) - (4,387)
31 March 2004 45,800 1,105,498 84,755 270,983 470,758 7,749 1,985,543

Depreciation -
1 April 2003, as restated - 158,031 57,128 124,386 74,365 7,749 421,659
Charge for the year - 26,966 13,269 29,623 47,133 - 116,991
Relieved on disposals - - (1,992) - (2,346) - (4,338)
31 March 2004 - 184,997 68,405 154,009 119,152 7,749 534,312

Net Book Value -

31 March 2004 45,800 920,501 16,350 116,974 351,606 - 1,451,231

31 March 2003 45,800 909,028 23,792 67,594 290,413 - 1,336,627

Included in the table above are amounts totaling $694,585,000 (2003 - $694,585,000) for the Trust representing the
previous Jamaican GAAP revalued amount of furniture, fixtures, computer and equipment which has been used as the
deemed cost of these assets under the provisions of IFRS 1 (Note 2(c)).

47 HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T

 Human Employment and Resource Training Trust
NOTES TO THE FINANCIAL STATEMENTS
Page 13
31 March, 2004
Human Employment and Resource Training Trust
Notes to the Financial Statements
31 March 2004

8. Construction in Progress

This represents costs incurred to year end for construction in progress at the following locations:

2004 2003
$'000 $'000
Port Maria Vocational Training Centre 927 290
Junction Vocational Training Centre 2,389 3,888
National TVET Centre 21,072 20,948
Jamaican German Automotive School (JAGAS) 789 588
Culloden Vocational Training Centre 160 177
Ebony Park HEART Academy 18,075 3,989
South-East Regional Office 590 286
Garmex HEART Academy 2,847 1,645
Black River Vocational Training Centre 457 260
Newport Vocational Training Centre 4,707 3,053
Portmore HEART Academy 8,519 1,896
Old Harbour Vocational Training Centre 68 558
Rockfort Vocational Training Centre 1,139 198
Runaway Bay HEART Hotel and Training Institute 3,104 1,825
School of Cosmetology 3,131 2,373
Falmouth Vocational Training Centre 979 525
Petersfield Vocational Training Centre 462 387
Stony Hill HEART Academy 613 683
Above Rocks Vocational Training Centre 301 207
Kenilworth HEART Academy 4,304 507
Granville VTC 8,918 5,875
Seaford Town VTC 1,974 2,193
Cornwall Automotive Training Institute 146 87
Vocational Training Department 247 172
National Tools and Engineering Institute 1,258 361
Compliance Department 57 -
L.E.A.P 765 -
N.C.T.V.E.T 3,171 -
Runaway Bay Academy 1,433 -
Boys Town VTC 74 -
Beechamville Vocational Training Centre 828 -

93,504 52,971

Construction in progress totaling $36,296,000 was completed during the year and transferred to fixed assets.

H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT 48

Human Employment and Resource Training Trust
NOTES TO THE FINANCIAL STATEMENTS
Page 14
31 March, 2004
Human Employment and Resource Training Trust
Notes to the Financial Statements
31 March 2004

9. Pension and Other Post Retirement Obligations

Pension
The Trust has established a retirement benefit plan covering all permanent employees. The assets of funded plan are held
independently of the Trust’s assets in separate trustee administered funds.

The scheme is funded by employee contributions at 5% of salary, with the option to contribute an additional 5%, and
employer contributions at 10% of salary as recommended by independent actuaries.

The scheme is administered by the Trustees and the funds are invested and managed by First Life Insurance Company
Limited.

The amounts recognised in the balance sheet are determined as follows:

2004 2003
$'000 $'000
Present value of funded obligations 616,387 505,266
Fair value of plan assets (1,030,638) (774,550)
(414,251) (269,284)
Unrecognised actuarial gains 103,856 26,322
Asset in the balance sheet (310,395) (242,962)

The amounts recognised in the income and expenditure account are as follows:

2004 2003
$'000 $'000
Current service cost 20,305 14,204
Interest cost 69,884 54,651
Expected return on plan assets (82,279) (62,182)
Total, included in staff costs (Note 5) 7,910 6,673

49 HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T

 HEART TRUST/NTA HEADQUARTERS AND
REGIONAL OFFICES

Human Employment and Resource Training Trust

NOTES TO THE FINANCIAL STATEMENTS
Page 15
31 March, 2004
Human Employment and Resource Training Trust
Notes to the Financial Statements
31 March 2004

9. Pension and Other Post-Retirement Obligations (Continued)

The actual return on plan assets was $159,599,000 (2003 - $109,920,000).

Movements in the amounts recognised in the balance sheet:

2004 2003
$'000 $'000
Assets at beginning of year 242,962 186,182
Total expense, as above (7,910) (6,673)
Contributions paid 75,343 63,453
Asset at end of year 310,395 242,962

The principal actuarial assumptions used were as follows:

2004 2003
Discount rate 12..5% 15%
Expected return on plan assets 10.0% 10.0%
Future salary increases 10.0% 9.5%
Future pension increases 4.5% 3.5%

Other post-retirement obligations

The Trust operates a post-employment benefit scheme principally in Jamaica. The benefits covered under the scheme
include health care. Funds are not built up to cover the obligations under this retirement benefit scheme. The method
of accounting and the frequency of valuations are similar to those used for defined benefit pension schemes.

In addition to the assumptions used for the pension schemes, the main actuarial assumption is a long term increase in
health costs of 12.5% per year (2003 - 7.5% per year).

The amounts recognised in the balance sheet were determined as follows:

2004 2003
$'000 $'000
Present value of unfunded obligations 69,894 56,671
Unrecognised actuarial gains 6,074 6,264
Liability at end of year 75,968 62,935

H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT 50

Human Employment and Resource Training Trust
NOTES TO THE FINANCIAL STATEMENTS
Page 16
31 March, 2004
Human Employment and Resource Training Trust
Notes to the Financial Statements
31 March 2004

9. Pension and Other Post-Retirement Obligations (Continued)

The amounts recognised in the income and expenditure account are as follows:

2004 2003
$'000 $'000
Current service cost 5,838 5,372
Interest cost 7,777 7,027
Total, included in staff costs (Note 5) 13,615 12,399

10. Loans Receivable

Loans are advanced to employees for the purpose of education, motor vehicle and computers.

2004 2003
$'000 $'000
This is comprised as follows:
Motor vehicle, education and computer loans to employees 28,246 32,777

11. Investments

Investments comprise:

2004 2003
$'000 $'000
Held to maturity securities – at amortised cost
Joint venture deposit 10,012 10,012
Government of Jamaica 330,473 112,500
340,485 122,512

The joint venture deposit represents amounts placed on long term deposit under a joint venture with the National Housing
Trust (NHT) and Victoria Mutual Building Society (VMBS) to provide mortgage financing to the Trust’s employees to
purchase NHT housing units on the following terms:

(a) NHT and the Trust will each finance 45% of the cost of the units (totalling 90% of the cost of the units);

(b) The other 10% plus closing costs will be borne by the employees.

(c) Interest is chargeable at 9% p.a. on the 45% deposit by the Trust and is capitalised;

(d) The 45% deposit plus interest will be repaid to the Trust by VMBS at the end of the mortgage.

51 HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T

 Human Employment and Resource Training Trust
NOTES TO THE FINANCIAL STATEMENTS
Page 17
31 March, 2004
Human Employment and Resource Training Trust
Notes to the Financial Statements
31 March 2004

12. Inventories
2004 2003

$'000 $'000

Hotel supplies – Runaway Bay HEART Hotel and Training

Institute 2,499 2,320

Livestock, meat and crops – Ebony Park HEART Academy 10,790 10,372

Stationery supplies 23,788 18,958

37,077 31,650

13. Receivables, Prepayments and Deposits

2004 2003

$'000 $’000

Trade accounts receivable 30,343 25,232

Interest receivable 86,203 55,326

Prepayments 19,964 7,263

Advance on purchase of fixed assets 32,312 16,900

Staff loans 2,903 2,591

Other 25,936 21,706

197,661 129,018

Less: Provision for doubtful debts (17,295) (7,298)

180,366 121,720

H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT 52

Human Employment and Resource Training Trust
NOTES TO THE FINANCIAL STATEMENTS
Page 18
31 March, 2004
Human Employment and Resource Training Trust
Notes to the Financial Statements
31 March 2004

14. Balances With Other Agencies

This comprises the balance of funds being administered by the Trust on behalf of other agencies:
2004 2003

$’000 $’000

Due from:

INTEC Project 3,919 2,402

UNICEF 2,854 740

GTZ 3,253 -

CPEC 379 -

10,405 3,142

Due to:

Jamaica Defence Force (116) -

UNDP LEAP (116) ( 116)

CPEC - (380)

GTZ - (995)

Inter American Development Bank (10,793) (10,944)

UNDP - CISCO (1,226) -

ICT4D (2,168) -

(14,419) (12,435)

15. Short Term Investments

Investments comprise:

2004 2003
$'000 $'000
Originated debt securities – at amortised cost
Government of Jamaica 268,708 453,370

Available-for-sale securities – at fair value

Government of Jamaica – repurchase agreements 389,866 422,988
Cash on deposit 66,007 -
455,873 422,988

724,581 876,358

53 HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T

 Human Employment and Resource Training Trust
NOTES TO THE FINANCIAL STATEMENTS
Page 19
31 March, 2004
Human Employment and Resource Training Trust
Notes to the Financial Statements
31 March 2004

15. Short Term Investments (Continued)

The weighted average effective interest rate on short term investments, which have an average maturity of under 90
days, was 21% (2003 – 20%) for the year. Short term investments which mature between 90 days to 360 days had an
average effective interest rate of 18% (2003 – 17%).

16. Bank Overdraft

The accounting records of the Trust reflect a bank overdraft which results from cheques issued but not yet presented to
the bank.

In an effort to maximize interest income, the Trust transfers cash from short-term deposits to its current accounts only
when required, a practice which results in a book overdraft occasionally. The Trust does not have an actual overdraft
with any of its bankers as no bank overdraft facilities are in place.

17. Fair Value Reserve

Fair value reserve represents unrealized gains and losses on the Trust’s available for sale investments.

18. Deferred Income Tax

1
Deferred income taxes are calculated on all temporary differences under the liability method using a tax rate of 33 /3%
for the Trust. Liabilities recognised on the balance sheet are as follows:

2004
$’000
Liability at beginning of year -
Deferred tax expense (Note 6) 110,667
Liability at end of year 110,667

Deferred income tax assets and liabilities are due to the following items:

2004

$’000
Deferred income tax assets:
Employee benefit obligation 25,323
25,323

Deferred income tax liabilities:

Property, plant and equipment 3,791
Interest receivable 28,734
Pension plan asset 103,465
135,990

H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT 54

Human Employment and Resource Training Trust
NOTES TO THE FINANCIAL STATEMENTS Page 20
31Human
March, 2004 Employment and Resource Training Trust
Notes to the Financial Statements
31 March 2004

18. Deferred Income Tax

2004 2003
$'000 $'000
The amounts shown in the balance sheet include the following:

Deferred tax assets to be recovered after more than 12 months 28,734 -

Deferred tax liabilities to be recovered within 12 months 81,933 -

19. Financial Risk Management

The Trust’s activities expose it to a variety of financial risks including the effects of changes in debt and equity market
prices, foreign currency exchange rates, interest rates and liquidity risks. The Trust’s overall risk management
programme focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the
financial performance of the Trust.

Risk management is carried out by a finance committee which identifies, evaluates and manages financial risks in
close co-operation with the Trust’s operating business units. The Board of Directors sets guidelines for overall risk
management including specific areas, such as foreign exchange risk, interest rate risk, credit risk, and investing
excess liquidity.

(a) Currency risk

Currency risk is the risk that the value of a financial instrument will fluctuate due to changes in foreign exchange
rates. The Trust is exposed to this risk arising from various currency exposures primarily with respect to the United
States dollar.

The balance sheet at 31 March 2004 includes aggregate net foreign assets of approximately US$596,000 (2003 –
US$1,054,000) in respect of transactions arising in the ordinary course of business.

(b) Interest rate risk

Interest rate risk is the risk that the value of a financial instrument will fluctuate due to changes in market interest
rates.

The Trust takes on exposure to the effects of fluctuations in the prevailing levels of market interest rates on
financial position and cash flows. Interest margins may increase as a result of such changes but may reduce or
create losses in the event that unexpected movements arise.

The Trust’s interest bearing financial instruments include investments and loans receivable. The effective rates of
interest impacting these instruments are disclosed in the individual notes to the financial statements associated
with each item.

(c) Market risk

Market risk is the risk that the value of a financial instrument will fluctuate as a result of changes in market prices
whether those changes are caused by factors specific to the individual security or its issuer or factors affecting all
securities traded in the market. The Trust has no significant exposure to market risk.

55 HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T

 Human Employment and Resource Training Trust
NOTES TO THE FINANCIAL STATEMENTS
31 March, 2004 Page 21
Human Employment and Resource Training Trust
Notes to the Financial Statements
31 March 2004

19. Financial Risk Management (Continued)

(d) Credit risk

Credit risk is the risk that one party to a financial instrument will fail to discharge an obligation and cause the other
party to incur a financial loss. The Trust has no significant concentration of credit risk attaching to trade
receivables as the Trust has a large and diverse customer base, with no significant balances arising from any
single economic or business sector, or any single entity or Group of entities. The Trust has policies in place to
ensure that sales of products and services are made to customers with an appropriate credit history. Trade
receivable balances are shown net of provision for doubtful debts.

Cash and short term investments are held with substantial financial institutions. A significant level of investments
is held in various forms of government instruments.

20. Fair Values of Financial Instruments

The amounts included in financial statements for cash and bank balances, short term investments, balances with other
agencies, accounts receivables, bank overdraft and accounts payables and accruals reflect their approximate fair
value because of the short term maturity of these instruments.

The estimated fair values of the Trust’s other financial instruments are as follows:

2004 2003

Carrying Fair Carrying Fair

Amount Value Amount Value

$’000 $’000 $’000 $’000

Loans receivable 28,246 28,246 32,777 32,777

Investments 340,485 338,227 122,511 113,354

The estimated fair values have been determined using available market information and appropriate valuation
methodologies. However, considerable judgement is necessarily required in interpreting market data to develop
estimates of fair value. Accordingly, the estimates presented above are not necessarily indicative of the amounts that
the Trust would realise in a current market exchange. The fair values of loans receivable and investments are
determined from projected cash flows, discounted at estimated current market rates of interest for similar instruments.

21. Capital Commitments

Capital commitments, authorised and contracted for at 31 March 2004 amounted to $58,591,000 (2003 – $12,253,000).

22. Lease Commitments

At 31 March, 2004, the Trust has operating lease commitments amounting to approximately $7,326,485 (2003 –
$8,389,957).

H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT 56

Human Employment and Resource Training Trust
NOTES TO THE FINANCIAL STATEMENTS
Page 22
31 March, 2004
Human Employment and Resource Training Trust
Notes to the Financial Statements
31 March 2004

23. Effects of Transition to IFRS

The Trust adopted IFRS effective 1 April 2003. Prior to that date, the financial statements of the Trust were prepared in
accordance with Jamaican Generally Accepted Accounting Principles (JGAAP). The financial statements for the years
ended 31 March 2002 and 31 March 2003 have been restated to reflect the financial position and results under IFRS. The
financial effects of conversion from JGAAP to IFRS are as follows:

(a) Reconciliation of equity at 1 April 2002 (date of transition to IFRS)

Effect of
Previous Transition
JGAAP to IFRS IFRS

$000 $000 $000

NET ASSETS EMPLOYED
Non-Current Assets
Property, plant and equipment (i) 1,208,513 55,222 1,263,735
Construction in Progress 24,739 - 24,739
Pension Plan Asset (ii) - 186,182 186,182
Investments 121,879 - 121,879
Current Assets
Inventories 19,432 - 19,432
Receivables, prepayments and deposits 159,435 - 159,435
Due from other agencies 2,516 - 2,516
Cash and short term investments 806,837 - 806,837
988,220 988,220
Current Liabilities
Bank overdraft 33,785 - 33,785
Accounts payable and accruals (ii), (iv) 258,220 276,096 534,316
Due to other agencies 16,508 - 16,508

308,513 276,096 584,609

Net Current Assets 679,707 276,096 403,611

2,034,838 (34,692) 2,000,146

Equity
Accumulated HEART Fund (i), (ii), (iv) 2,034,838 (85,837) 1,949,001
Non Current Liability
Employee benefit obligations (ii) - 51,145 51,145

2,034,838 (34,692) 2,000,146

57 HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T

 Human Employment and Resource Training Trust
NOTES TO THE FINANCIAL STATEMENTS
Page 23
31 March, 2004
Human Employment and Resource Training Trust
Notes to the Financial Statements
31 March 2004

23. Effects of Transition to IFRS (Continued)

(b) Reconciliation of equity at 31 March 2003

Effect of
Previous Transition
JGAAP to IFRS IFRS

$000 $000 $000

NET ASSETS EMPLOYED
Property, plant and equipment (i) 1,281,405 55,222 1,336,627
Construction in Progress 52,971 - 52,971
Pension Plan Asset (ii) - 242,962 242,962
Loans Receivable 32,777 - 32,777
Investments 122,512 - 122,512
Current Assets
Inventories 31,650 31,650
Receivables, prepayments and deposits 149,253 149,253
Due from other agencies 3,142 3,142
Cash and short term investments (iii) 915,132 (143) 914,989
1,099,177 (143) 1,099,034
Current Liabilities
Bank overdraft 56,851 - 56,851
Accounts payable and accruals (ii), (iv) 313,631 279,463 593,094
Due to other agencies 12,435 12,435
382,917 279,463 662,380

Net Current Assets 716,260 (279,606) 436,654

2,205,925 18,578 2,224,503
FINANCED BY
Accumulated HEART Fund (i), (ii), (iv) 2,205,925 (44,214) 2,161,711
Fair value reserve - (143) (143)
2,205,925 (44,357) 2,161,568
Non Current Liability
Employee benefit obligation (ii) - 62,935 62,935

2,205,925 18,578 2,224,503

H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT 58

Human Employment and Resource Training Trust
NOTES TO THE FINANCIAL STATEMENTS
Page 24
31 March, 2004
Human Employment and Resource Training Trust
Notes to the Financial Statements
31 March 2004

23. Effects of Transition to IFRS (Continued)

(c) Reconciliation of net surplus for the year ended 31 March 2003

Effect
of
Previous Transition
JGAAP to IFRS IFRS

$’000 $’000 $’000

Income
Employers’ 3% contribution 2,262,801 - 2,262,801
Finance income 151,379 - 151,379
Institutional earnings 188,397 - 188,397
Profit on sale of fixed assets 3,321 - 3,321
Miscellaneous 10,937 - 10,937

2,616,835 - 2,616,835
Expenses
Facilities costs 447,968 - 447,968
Training costs (ii) 1,582,757 (31,217) 1,551,540
Personnel/administration costs (ii) 241,953 (10,406) 231,547
Other operating costs 155,021 155,021
Refurbishing of technical high schools 18,049 18,049

2,445,748 (41,623) 2,404,125

Surplus for the Year 171,087 41,623 212,710

Brief descriptions of each item of difference:

(i) Under the provision of IFRS 1, the Trust elected to measure its furniture, fixtures, equipment and computers at the
date of transition to IFRS at fair values, and to use those fair values as deemed cost.

(ii) Provision for pension assets and obligations, which was not required under previous Jamaican GAAP, is now
made in full. The provision for pension benefits and obligations is determined by independent actuaries using the
Projected Unit Credit Method.

59 HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T

 Human Employment and Resource Training Trust
NOTES TO THE FINANCIAL STATEMENTS Page 25
31 March, 2004
Human Employment and Resource Training Trust
Notes to the Financial Statements
31 March 2004

23. Effects of Transition to IFRS (Continued)

(iii) Under previous Jamaican GAAP, the Trust measured all investment securities at cost. Under IFRS, available for
sale securities are measured at fair value while originated debts and held to maturity securities are carried at
amortised cost. The unrealised gains/losses as a result of the re-measurement of the available-for-sale
securities to fair value are recognised in the fair value reserves in equity. Premiums and discounts on
acquisition of investment securities were amortised on a straight-line basis over the lives of the securities under
previous Jamaican GAAP. Under IFRS, premiums/discounts are amortised using the effective yield method (Note
17).

(iv) Certain claims payable to various Government owned entities and agencies were previously accounted for on a
cash basis under Jamaican GAAP. Under IFRS, these liabilities are now accounted for on the accrual basis.

H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT 60

HEART TRUST/NTA PERSONNEL

EXECUTIVE TEAM

Mr. Robert Gregory Executive Director

Mr. Donald Foster Chief Technical Director

Mr. Michael HoSue Chief Information Officer

Mrs. Christine Dickson-Edwards Senior Director - HEART Trust Fund

Mr. Thomas McArdle Senior Director - Planning & Projects Development Division

Mr. Colin Barnett Senior Director - HRPD

Mrs. Paulette Dunn-Smith Senior Director - NCTVET

Miss Pamella McKenzie National Programmes Director (Acting)

DIRECTORS

Miss Clover Barnett Director - Learning Management Services

Mr. Robert Green Director - JAMALCO/Expansion Project

Mr. Dayn Telfer Director - Finance & Accounting

Mr. Edward Shakes Director/Principal - VTDI

Mrs. Sonia Lynch Director - Personnel & Administration

Mrs. Karen Gayle Director - Institutional Based Training

Mr. Kevin Mullings Senior Programmes Director (Acting)

Mrs. Cora Ricketts Director - Compliance (Acting)

Mrs. Joyce Wilson Director - Community Based Training

Mr. Mark Thomas Director - Communications

Mr. Dermon Spence Director - Regional Programmes Services

Mr. Michael Hamilton Director - Building & Properties

Mrs. Loveda Jones Director - Technical High School Development Programme

Mr. Malcolm Cameron Director - Management Operations Analysis & Internal Audit
Mr. Samuel Bowen Director - Caribbean Institute of Technology

Mr. Ludlow Thompson Director - Occupational Standards, NCTVET

Mrs. Elizabeth Terry Director - Special Partnerships

Miss Jennifer Walker Director - Quality Assurance, NCTVET

61 HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T

 MANAGERS

Mr. Evon Grant Manager - Workforce Improvement Programme

Mrs. Sonia Bennett-Cunningham Manager - Learning Management Services

Ms Elvey Hamilton Senior Project Manager - Special Programmes

Ms. Judith Lewis Manager - Media Services

Mr. Clive Grossett Manager - Entrepreneurial Skills Development

Mrs. Jacqueline Wallder Senior Manager - Administration, VTDI

Mr. Orville Reid Manager - Technical Services, VTDI

Miss Dotlyn Minott Manager - Professional Studies, VTDI

Mrs. Myrnel Sangster Secretary/Manager - NCTVET

Mrs. Linette McLean Manager - Learning Resources, Design & Development

Miss Vilma Freeman Manager - Professional Guidance Information Services

Mrs. Beverley Clarke Manager - Learning for Earning Activity Programme

Mrs. Deborah King-Murray Project Manager - HRMIS (Futuretech)

Mr. Kenneth Morrison Manager - Project Development, PPDD

Mr. Wayne Sucklal Manager - Safety & Security

Mrs. Joan Nicholas Manager- Administration, National TVET Centre

Mrs. Marcia Hector Manager - Office Services & Employee Relations

Mrs. Marcia Huggins Purchasing Manager

Mr. Maurice Lewin Manager - Human Resources (Acting)

Mr. Kenrick Steele Manager -Technical Services

Mr. Leecep Sterling Systems Development Manager

Mrs. Patricia Johnson-Small Programme Manager - Vocational Training Division

Mrs. Nursita Johnson Manager - Regional Programme Services

Mrs. Yvette Batchelor Manager - Compliance

Mrs. Margaret Maragh Audit Manager (Acting)

Mrs. Natalie Ferreira-Reid Manager - Information & Promotion, NCTVET

Miss Sandra Hutchinson Senior Programmes Manager

REGIONAL MANAGERS

Mrs. Cynthis Dewdney Manager - South Eastern Region

Miss Jacqueline Lawson Manager - South Western Region (Acting)

Mr. Merton Jones Manager - North Western Region

Mr. George Coleman Manager - Northern Region

H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT 62

ACADEMIES

Mrs. Leonie Dunwell Manager - Kenilworth Academy

Miss Sandra Berry Manager- Portmore Academy

Mrs. Novelette Denton-Prince Manager- School of Cosmetology

Miss Arden Grant Manager- Garmex Academy

Mrs. Grace McLean Manager - Jamaican German Automotive School

Mr. Pius Lacan Manager - Ebony Park Academy

Mr. Winston Fletcher Manager - National Tools & Engineering Institute

Mrs. Muffat Townsend Manager - Stony Hill Academy

Mr. Philadolph Griffiths Manager - Cornwall Automotive Training Institute

Miss Charmaine Deane General Manager - Runaway Bay HEART Hotel & Training Institute

Miss Janet Dyer Manager - Runaway Bay HEART Hotel & Training Institute

VOCATIONAL TRAINING CENTRES

Miss Merlyn Brown Manager - Rockfort VTC (Acting)

Mrs. Maxine Chambers Manager- Falmouth VTC

Mr. Donovan Jones Manager- Newport VTC

Mr. Colin Hitchman Manager - Culloden VTC

Mrs. Elain Holloway Manager - Junction VTC

Mrs. Yvonne Beckford Hewitt Manager - Boys Town VTC

Mr. George James Manager - Old Harbour VTC

Mrs. Beverley DeCambre-Brown Manager - Beechamville, VTC

Mr. Joseph Reid Manager - Lluidas Vale VTC

Mrs. Elaine Shakes Manager - Seaford Town VTC

Miss Odette Brown Manager - Port Maria VTC (Acting)

Miss Althea Lawrence Manager - Granville VTC

Miss Novelette Myers Manager - Above Rock VTC

Mr. Winsbert Ansine Manager - Petersfield VTC

Mr. Wentworth Kelly Manager - Buff Bay VTC (Acting)

63 HEART TRUST/NTA 2003–2004 AN N U A L R E P O R T

 HEART TRUST/NTA REGIONAL OFFICES

HEART Trust/ NTA Head Office REGIONAL OFFICES

6B Oxford Road, Kingston 5.
Telephone: (876) 929-3410-8, 960-7635 Mandeville Regional Office
Fax: (876) 929-2478 5-½ Caledonia Road,
Fax: (876) 962-3888 Mandeville, Manchester
Telephone: (876) 962-0543,
Regional Programme Services Department 962-3393
7 Ripon Road, Kingston 5 Fax: (876) 962-3888
Telephone: (876) 968-7488-9
968-4441, 968-4433 St Ann’s Bay Regional Office
Fax: (876) 968-4443 45 Main Street, St Ann
Telephone: (876) 972-0226,
Enterprise Based Training Department 972-1232,794-8293, 972-2152
203 Windward Road, Kingston 2 Fax: (876) 972-1382
Telephone: (876) 929-1391-3
Fax: (876) 795-5815 Montego Bay Regional Office
11 Dome Street, St James
Compliance Department Telephone: (876) 952-0172,
22 Hope Road, Kingston 5 952-4967, 979-0484,979-2914
Telephone: (876) 929-1575, 968-9531, Fax: (876) 952-0321
968-8455-6
Fax: (876) 929-5924 Spanish Town
10 King Street, Spanish Town,
Institutional Based Training Department St Catherine.
6B Oxford Road, Kingston 5 Telephone: (876) 943-9817, 907-4339
Telephone: (876) 929-3410-8 Fax: (876) 907-4337
Fax: (876) 929-2478
Santa Cruz
National TVET Centre Shop# 3, Hayles Plaza
VTDI/ ITC/ NCTVET St Elizabeth.
TVET Resource Centre Telephone: (876) 966-9710, 966-4578
Gordon Town Road, Kingston 7 Fax: (876) 966-9710
Telephone: (876) 977-1700-5
Fax: (876) 977-1115, 702-3366 Savanna- La- Mar
6 Rose Street, Williams Plaza
Westmoreland
Telephone: (876) 955-2928
Fax: (876) 955-4481

Morant Bay
www.heart-nta.org 14A Queens Street, St Thomas.
Telephone: (876) 982-1215

South - East Regional Office

7 Ripon Road, Kingston 5
Telephone: (876) 968-7488-9
Fax: (876) 968-4443

H E A R T T R U S T / N T A 2 0 03–2004 ANNUAL REPORT 64