DID ANNUAL REPORT 2023_24

Annual Report 2023-2024

GAUTENG DEPARTMENT OF INFRASTRUCTURE DEVELOPMENT VOTE 15

NOTES TO THE ANNUAL FINANCIAL STATEMENTS for the year ended 31 March 2024

29.1.1 Prior period error

2022/23

Nature of prior period error

Note

R’000

Relating to 2022/23 [affecting the opening balance]

(539 525) (193 859) (345 666)

Correction of Property valuation Adjustment on transfer of assets

Relating to 2022/23

-

Total prior period errors

(539 525)

The correction of error of R346 million relates to transfer of land parcels acquired in prior years for use by Gautrain Management Agency, and the remainder relates to correction of property valuations.

29.2 Immovable tangible capital assets: Capital Work-in-progress

CAPITAL WORK-IN-PROGRESS For the year ended 31 March 2024

2023/24

Ready for use (Assets to the AR) / Contracts terminated

Opening balance 1 April 2023

Closing balance 31 March 2024

Current Year WIP

Note Annex 7

R’000

R’000

R’000

R’000

Buildings and other fixed structures

153 080 359 320 153 080 359 320

- -

512 400 512 400

Total

The increase in current work in progress is primarily due to Solar panel installation project implemented on various Health institutions.

PAYABLES NOT RECOGNISED RELATING TO CAPITAL WIP

2023/24

2022/23

Note

R’000

R’000

Amounts relating to progress certificates received but not paid at year end and therefore not included in capital work-in-progress

-

5 557

Total

-

5 557

Include discussion here where deemed relevant.

219

DEPARTMENT OF INFRASTRUCTURE DEVELOPMENT