FASSET ANNUAL REPORT

Statement of Comparison of Budget and Actual Amounts Budget on Accrual Basis

Approved budget

Adjustments Final Budget

Actual amounts on comparable basis

Difference between final budget and actual

Reference

R ‘000

R ‘000

R ‘000

R ‘000

R ‘000

Statement of Financial Performance

Revenue Revenue from exchange transactions Interest received - investment Revenue from non-exchange transactions Transfer revenue Levies Provision for bad debts adjustment

27 000

2 798

45 000

(18 000)

29 798

Note no. 26.1

355 261

46 160

592 101 (236 840)

401 421

Note no. 26.9 Note No. 26.7

-

155

-

-

155

Total revenue from non- exchange transactions

592 101 (236 840)

355 261 401 576 46 315

Expenditure Employee related costs

(35 642) (3 018)

4 054

(35 642) (3 119) (1 930)

-

(31 588) (2 432)

Note no. 26.2 Note no. 26.3 Note no. 26.8 Note no. 26.4 Note no. 26.5

586 255

External audit fees Internal audit fees

101

(930)

1 000

(675)

-

(1 646) (1 368)

Depreciation and amortisation Consulting and professional fees Lease rentals on operating lease Employer grant and project

-

- -

(1 646) (12 274) (3 195) (408 571)

(10 906) (3 419) (523 074)

(10 906) (3 431) (525 969)

224

12

114 503

2 895

Note no. 26.6

expenses Administration expenses Total expenditure

(24 719)

3 454

(56 104)

31 385

(21 265)

Note no. 26.10

(637 101)

35 393 (601 708)

(481 646) (50 272)

120 062 169 175

- (219 447)

(219 447)

-

(5)

Gain on disposal of assets Surplus for the year Actual Amount on Comparable Basis as Presented in the Budget and Actual Comparative Statement

-

-

(5)

Note 26.4

- (219 447) - (219 447)

(219 447) (219 447)

(50 277) (50 277)

169 170 169 170

*The revised budget as indicated above had been amended due to the impact of the four-month payment holiday announced by the president of South Africa in April 2020. Other line item movements had also been revised in the update of the budget to accommodate actual expenditure requirements for the period.

FASSET Annual Integrated Report 2020/21

93