CGE ANNUAL REPORT

2022/23 ANNUAL REPORT

Financial Statements for the year ended 31 March 2023

Notes to the Financial Statements for the year ended 31 March 2023

Figures in Rand

2023

2022

18.

Cash (used in) generated from operations

Surplus for the year

7 301 347

14 252 888

Adjustments for: Depreciation and amortisation

1 582 705

1 297 947

Loss/(Profit) on sale of assets and liabilities

14 310 23 044 14 415 488 139

98 323 42 697

Finance costs

Bad debts written off Movements in provisions

-

225 651

Funds Surrendered to National Treasury

(3 500 000)

(11 952 549)

Changes in working capital: Inventories

(16 784) (85 694) (20 468) (98 118)

111

Receivables from exchange transactions

591 170

Increase/(Decrease) in Provision for impairment of staff debtors

-

Receivables from non-exchange transactions

852

Statutory receivables

(8 394 000)

-

Payables from exchange transactions

178 594 127 362

1 580 136

Increase in Payables from-non exchange transactions

-

(2 385 148)

6 137 226

19.

Irregular expenditure

Opening balance as previously reported

11 724 799

3 745 346

-

-

Add: Irregular Expenditure - current Correction of Opening Balance

1 002 420

10 732 793 (2 753 340) 11 724 799

-

Closing balance

12 727 219

Incidents/cases identified in the current year include those listed below:

Cases under investigation

The irregular expenditure as at 31 March 2023 amounted to a total of R1 002 420 which were identified and in contravention with the requirement of the Public Finance Management Act, Investigations are currently underway to determine liability and effect additional measures to strengthen systems of internal controls in a manner of enabling the commission to fulfil its obligations.

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