FASSET ANNUAL REPORT

Statement of Changes in Net Assets

Administration reserve

Mandatory reserve

Discretionery reserve

Total reserves

Total net assets

R ‘000 R ‘000

R ‘000 R ‘000 R ‘000

Opening balance as previously reported

2 069

401

677 934 680 404 680 404

Adjustments Correction of errors

-

-

6 099

6 099

6 099

Balance at 01 April 2019 as restated*

2 069

401 684 033 686 503 686 503

Changes in net assets Deficit for the year

-

-

-

-

(6 729)

Allocation of accumulated surplus Note 12 Excess reserves transfered to

7 049 52 288

(66 066)

(6 729)

-

(4 158)

(51 401)

55 556

(3)

(3)

Discretionary reserve Total Changes

2 891

887

(10 510)

(6 732)

(6 732)

Balance at 01 April 2020

4 960 1 288 673 523 679 771 679 771

Changes in net assets Surplus for year

-

-

-

-

(50 277)

Allocation of accumulated surplus Note 12 Excess reserves transfered to

(20 577)

40 093

(69 793)

(50 277)

-

20 752 (40 820)

20 066

(2)

(2)

Discretionary reserve Total changes

175

(727)

(49 727)

(50 279)

(50 279)

Balance at 31 March 2021

5 135

561 623 796 629 492 629 492

FASSET Annual Integrated Report 2020/21

91