HDA Annual Report

ANNUAL REPORT 2023/24 Notes to the Annual Financial Statements

Restated 2023

Figures in R’000

2024

18. Land and related costs (continued)

The stakeholder expenses above are covered by Provinces support conditional grant on note 19.

19. Technical and support services

Technical consultants

53 867 53 867

50 642 50 642

The above expenditure relates to stakeholder expenses (Planning cost and KZN floods).

20. Finance costs

Finance leases

78 78

19 19

The HDA entered into a finance lease agreement for photocopier machines as from 01 March 2024 for a period of three years.

21. Employee costs

Basic salary

147 984

146 444

Labour settlement^ Performance bonus Leave paid and accrued

-

2 730

11 430

-

5 066 3 837

2 179 3 736

Allowances

Employer’s contributions

18 133

17 055

Other payroll expenses - COIDA

1 225

758

187 675

172 902

Detailed employee costs per funding Transfer from controlling entity Provinces support conditional grant

106 062 81 613 187 675

92 361 80 541

172 902

22. Employee benefit obligation

Defined Contribution plan: Liberty Provident Fund All Fixed-Term contract employees of the HDA are members of Liberty Life Umbrella Provident Fund. This is a defined contribution fund. A total employer contribution of 10% of the employee’s total cost of employment is made to the fund. Approximately 110 HDA employees belong to this fund. The normal retirement age of the fund is 65 years.

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