BANKSETA AR 31 AUGUST

ANNUAL FINANCIAL STATEMENTS NOTES TO THE ANNUAL FINANCIAL STATEMENTS for the year ended 31 March 2022

4.

RECEIVABLES FROM EXCHANGE TRANSACTIONS

2021/22

2020/21

R’000

R’000

Deposits

367

367

Staff advances and payroll receivables

42

96

Interest receivables Other receivables Prepaid expenses

142

2 950

771 -

88 95

1 321

3 596

The effect of discounting was considered and found to be immaterial.

5.

CASH AND CASH EQUIVALENTS

For the purposes of the cash flow statement, cash and cash equivalents include cash on hand and in banks and investments in fixed deposits. Cash and cash equivalents at the end of the financial year as shown in the cash flow statement can be reconciled to the related items in the Statement of Financial Position as follows: 2021/22 2020/21 R’000 R’000 Cash at bank and on hand 32 096 24 570 Cash at bank 32 093 24 570 Cash on hand 3 - Short term investments/instruments 1 180 480 1 037 445 Cash and cash equivalents at end of year 1 212 576 1 062 015 Treasury Regulation 31.3 requires that, unless exempted by the National Treasury, the SETA as a public entity that is listed in Schedule 3A of the Act must invest surplus funds with the Corporation for Public Deposits. During the year, National Treasury issued a circular dated 14 September 2021, which withdrew any exemptions previously granted to Schedule 3Aentities to invest any surplus funds outside the Corporation of Public Deposits (CPD). All investments outside CPD were to be moved to the CPD as they matured. BANKSETA complied with the circular and as at year, all surplus funds are invested at the CPD.

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PART E: FINANCIAL INFORMATION | BANKSETA ANNUAL REPORT 2021/22