BANKSETA AR 31 AUGUST

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

16. RECONCILIATION OF NET CASH FLOW FROM OPERATING ACTIVITIES TO NET SURPLUS

2021/22

2020/21

Notes

R’000

R’000

Net surplus as per Statement of Financial Performance

95 161

98 438

Adjusted for non-cash items: Depreciation/amortisation

1 175 (1)

1 318

Allowance for irrecoverable debts Interest accrued at year end

5

(142)

(2 950)

Loss on disposal of fixed assets

15

11

Adjusted for items separately disclosed Interest received

12.1

(50 420)

(47 087)

Adjusted for working capital changes: (Increase)/decrease in receivables from exchange transactions (Increase)/decrease in receivables from non-exchange transactions (Decrease)/Increase in payables and provisions

2 419

4 931

2 853 49 923

(2 707) 66 245

100 983

118 204

Cash generated from operations

17.

CONTINGENCIES

17.1 Retention of surplus funds In terms of the PFMA, all surplus funds as at year-end may be forfeited to National Treasury should an application for retention of surplus funds be denied. On 2 September 2020, National Treasury gazetted National Treasury instruction no 12 of 2020, whose application has been applied retrospectively to 31 March 2020.

2021/22

2020/21

R’000

R’000

Cash and cash equivalents at the end of the year

1 212 576

1 062 015

Add: receivables

2 039

7 166

Less: current liabilities

(155 212) 1 059 402

(104 502) 964 679

Total surplus per current legislation

Less: discretionary grant commitments

(1 041 906)

(398 805)

Surplus after commitments

17 496

565 874

161

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