The following balances were extracted from the books of Abganabganabga Metropolitan Assembly for the year ended 31st December, 2016. GHS Property rate 36,000 Funeral rate 12,000 Salaries of employee 70,500 Commission to revenue collectors 7,800 Overtime Allowance 8,100 Revenue from Concession 14,500 Stool lands revenue 6,900 Market tolls 12,600 Court fines 57,000 Sanitation fees 21,600 Lorry Park fees 10,500 Stationery and printing 42,000 Conferences 7,200 Telecommunication 9,300 Maintenance of building 4,800 Herbalist license 11,700 Chop bar license 42,300 Hotels license 69,000 Consumption of fixed assets 24,000 Market stores rent 15,600 Bungalow rent 10,200 Interest paid on Bonds issued 23,400 Interest on overdraft 27,600 Conferences 7,200 Telecommunication 9,300 Maintenance of building 4,800 Herbalist license 11,700 Chop bar license 42,300 Hotels license 69,000 Consumption of fixed assets 24,000 Market stores rent 15,600 Bungalow rent 10,200 Interest paid on Bonds issued 23,400 Interest on overdraft 27,600 Social benefits 27,000 Common fund 135,000 Central Government salaries 69,000 Dividend on shares purchased 36,000 Unspecified receipts 4,800 Other income 20,200 Grants given to community 24,900 Other expense 54,000 915,500

Required: Prepare a statement of financial performance of the District for the year ended 31st December, 2016. [40 marks]

Write short notes to describe the legal basis of the district assembly concept in Ghana [20 marks]