To be a leading financial supporter for the employees of Government, Public Corporations, Statutory Institutions and Members of the three Forces.
To contribute in creating a contented Public Service by releasing Employees of Government, Public Corporations, Statutory Institutions and Members of the three Forces from indebtedness.
To relieve Indebtedness of Employees of the Government, Public Corporations, Statutory Institutions and Members of the three Forces, by providing short term loans without delay on concessionary interest rates under easy terms.
Lady Lochore Loan Fund Office is housed in the 3rd floor of a three-storied building constructed utilizing the finances of the Fund.The extent of the land is 01 rood and it was provided by the Government on a99 years lease. The unused space of the building has been rented out to the following institution:-
Ceylon Electricity Board, Co-operative Commission, Lake House Book Shop, AJS Associates (Tax Consultants) and PERC of the Ministry of Finance. The basement is exclusively for parking vehicles belonging to the Fund and tenants. It has an official bungalow for the Chairman / Managing Trustee in the 3rd floor as well.
MANAGEMENT OF THE FUND
The Fund is managed by the Chairman / Managing Trustee assisted by a Board of Trustees.The President, a representative of the Ministry of Finance presides the Board Meetings.
Following are the functions :-
• Granting loans to Public and Semi-Government sector employees who are in debt and distress.
• Purchases – Fixed / Moveable property and sell same to makeprofit.
• Mortgage and exchange of property.
• Any action to assist the official function of the Board.
DELEGATION OF AUTHORITY
The Board of Trustees is comprised of 07 members. The President of the Board of Trustees is the representatives of the Treasury Ministry of Finance. Powers aredelegated to the Chairman / Managing Trustee to manage the Fund.
There are 7 Trustees appointed by the Minister of Finance, of whom one is nominated by the Minister of Finance as the Chairman / Managing Trustee.
CHAIRMAN / MANAGING TRUSTEE
Chairman / Managing Trustee is incharge of administration and management of the Fund.
The Financial Year is from January to December of each year. The total cadre of staff of the LLLF iscurrently 47 including Minor, Middle, Junior and Senior Management staff.
ISSUING OF LOANS
|Loan Category||Number||Amount (RS)||Number||Amount (RS)||Number||Amount (RS)|
The annual income consists of accured interest on loans, rental income of excess building space rented and the interest drived from fixed deposits. The income derived in 2016,2017 & 2018 is as follows:
|Rental of the building space||13,368,568||17,507,790||16,592,790|
Bord of Directors
REPRESENTING THE TREASURY
Director Department of State Accounts