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

•

21. Reconciliation between budget and statement of financial performance

Reconciliation of budget surplus with the surplus in the statement of financial performance:

Surplus per the statement of financial performance

7 301 347

14 252 888

Adjusted for: Other income not budgeted for

(1 266 717) 3 739 264 (11 230 109)

(712 547) (5 804 812) (9 174 496) 1 297 947

General expenses lower than the budget Personnel expenditure in lower than the budget Depreciation and amortisation are non-cash items

1 582 705

(Gain)/Loss on disposal of Assets

14 310 14 415 23 044

98 323

Impairment of debts allowance and Bad debts written off

-

Finance costs not budgeted for

42 697

Donations in kind

(178 259)

-

Surplus per approved budget

-

-

22.

Budget differences

Material reconciling items between budget and actual amounts

For the period under review a net surplus of R7 301 347 was reported as compared to a surplus of R14 252 888 in the previous period. The main contributor to the surplus was due to an increase in the parliamentary grant transferred amounting to R9 346 000. Furthermore, the Commission earned interest on a positive bank balance amounting to R1 185 365, other income R67 683 which consist of R62 153 (EDTP-SETA discretionary grants to assist with the Commission’s skills development efforts), sundry income from insurance amounting to R5 503 and donation in cash of R178 259.

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