RAND WATER ANNUAL REPORT 2023

Consolidated Annual Financial Statements for the year ended 30 June 2023

Notes to the Consolidated Annual Financial Statements 34. Related parties (Continued)

Transactions with the Department of Water and Sanitation

The Group is 100% controlled by the government of South Africa represented by the Department of Water and Sanitation. Rand Water and its subsidiaries are schedule 3B Enterprises in terms of the Public Finance Management Act. The Group is exempt from disclosing balances and transactions with other spheres of Government therefore the disclosure includes only those entities that are within the same Ministerial control. Although Rand Water is 100% controlled by the Department of Water and Sanitation, the Department does not produce a set of consolidated annual financial statements. This function for the purposes of reporting to Parliament is performed by National Treasury.

Figures in Rand thousand

Group

Rand Water

2023

2022 Restated *

2021 Restated *

2023

2022 Restated *

2021 Restated *

Transactions with the Department of Water and Sanitation Transactions with related parties: Sales of goods and services 187 665

46 425 167 847 187 665

46 425 167 847

Purchases of Water

7 043 775 6 572 916 6 015 844 7 043 775 6 572 916 6 015 844

Other Purchases of goods and services

-

3 421

-

-

3 421

-

Debt written off

75 751

-

14 360

75 751

-

14 360

Year‑end balances arising from transactions Expected credit losses

54 258 202 760 233 513 63 300 237 061 271 258

54 258 202 760 233 513 63 300 237 061 271 258

Receivables

Payables

1 402 751 1 387 651 1 341 537 1 402 751 1 387 651 1 341 537

Deferred income

-

-

157

-

-

-

Included in the transactions with the shareholder is R71.6 million and interest payable amounting to R4.1 million that has been written off for debt relating to the water purchases for the Rand Water Mpumalanga discontinued segment.

Payables and receivables are due within 30‑60 days from date of invoice. Interest receivable/payable is in accordance with normal market practice.

Transactions with other public entities within the same Ministerial control Transactions with related parties: Sale of goods and services 13 - 195 698

13

-

195 698

Purchases of goods and services

157 098 164 318 152 348 157 098 164 318 152 348

Collections on behalf of the commissioner

(138 278)

(120 223)

(123 206)

(138 278)

(120 223)

(123 206)

Year‑end balances arising from transactions Payments to the Water Research levy

134 941 117 497 121 319 134 941 117 497 121 319

Expected credit losses

192 226

193 192 895 226 226 358

192 226

193 194 154 226 226 538

Receivables

Trade payables Other payables

13 523

25 308 12 406

15 516

13 523

25 308 12 406

15 516

4 123

-

4 123

-

289