RAND WATER ANNUAL REPORT 2023

Consolidated Annual Financial Statements for the year ended 30 June 2023

Notes to the Consolidated Annual Financial Statements

Figures in Rand thousand

Group

Rand Water

2023

2022 Restated *

2023

2022 Restated *

27. Staff costs

Executive board members

7 972

7 274

5 829

5 155

Non‑executive board members

11 253

9 161

9 741

7 764

Board members’ fees and emoluments

19 225

16 435

15 570

12 919

Salaries

1 816 680 1 653 794 1 800 961 1 639 260

Contributions to defined contribution plan

211 141 196 856 211 141 196 856

Other staff costs

1 164 387 1 149 828 1 159 032 1 143 996

Subtotal

3 211 433 3 016 913 3 186 704 2 993 031

Transfers to projects

(246 713)

(212 690)

(246 713)

(212 690)

Transfers to cost of sales

(974 255)

(941 441)

(974 255)

(941 441)

Net staff costs

1 990 465 1 862 782 1 965 736 1 838 900

Other staff costs include the post retirement medical aid benefit current service costs of R7,3 million as at 30 June 2023 (2022: R8,9 million).

For the year ended 30 June 2022 a voluntary separation dispensation was afforded to employees over the age of 60, as a measure to safeguard their health against COVID 19 exposures, a total of 151 employees took up the option and retired from the Rand Water Employment. The Organisation further approved and paid a once off COVID 19 relief allowance of R10 thousand per employee. Transfers to projects of R247 million (2022: R213 million) represents labour charge outs for temporary and permanent employees to capital and recoverable projects. Transfers to cost of sales of R980 million (2022: R947 million) represents direct labour charges for the production of potable and non‑potable water revenue recognised directly in cost of sales (see note 24).

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