Limpopo Gambling Board Final

LIMPOPO GAMBLING BOARD Financial Statements for the year ended 31 March 2023 37. Reconciliation between budget and cash flow statement Reconciliation of budget surplus/deficit with the net cash generated from operating, investing and financing activities:

2023

2022

Operating activities Actual amount as presented in the budget statement

214 251 324 (220 657 876)

151 063 453 (144 922 043)

Basis differences

Net cash flows from operating activities

(6 406 552)

6 141 410

Investing activities Actual amount as presented in the budget statement Net cash generated from operating, investing and financing activities 38. Budget explanations Material differences between budget and actual amounts

(1 727 577)

(9 700)

(8 134 129)

6 131 710

The budget covers the full financial year to 31 March 2023 . Material differences are explained below.

38.1Operating income Although the budget for operating income had to be adjusted downwards, operating income performed fairly well in comparison to the adjusted budget. This was mainly due to the operations returing to somewhat a full capacity. 38.2Interest received The interest earned by the entity comes from a call account that the entity maintains. Levies that are collected are kept in the call account before they are transferred to LEDET. 38.3Other operating revenue There was over performance in the collection of levies for the year under review, even in excess of the upward budget adjustment. This was mainly due to increased activity in the gaming industry.. 38.4 Annual licence fees Collection of annual licence fees had under performed for the year under review, even after a revision downwards of the expected income mainly due to the effect of the lockdown and many operators still trying to recover.

LIMPOPO GAMBLING BOARD

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