RTIA Annual Report E-Book

Road Traffic Infringement Agency Annual Financial Statements for the year ended 31 March 2024 __________________________________________________________________________________________________________________________________________________________ Notes to the Annual Financial Statements Figures in Rand 2024 2023 4. Receivables from exchange transactions (Continued) AARTO statutory receivables past due but not impaired AARTO statutory receivables which are less than 90 days past due and owing from collecting agencies are not considered to be impaired. Management have assessed the recoverability of receivables and there are indications that the balance is impaired. This is a result of the impact of the covid-19 pandemic on the collecting agents who are administered under the Municipal Finance Management Act, Act No. 56 of 2003 (MFMA), municipalities that have been placed under interventions in terms of sections 100 or 139 of the Constitution, and those that were implicated under the VBS Mutual Bank that was placed into final liquidation by the North Gauteng High Court on 13 November 2018. The impairment that has been provided for is R 4 160 529 (2023 R 7 407 182). Trade receivables The ageing of amounts past due but not impaired is as follows: 1 month past due 34 218 290 16 400 408 2 months past due 1 400 285 (77 261) 3 months past due (11 360 677) 7 090 262 24 257 898 23 413 409 Reconciliation of provision for impairment of trade and other receivables Opening balance 7 407 182 6 013 109 Impairment of receivables from exchange transactions 4 160 529 7 407 182 Reversal of impairment (7 407 182) (6 013 109) 4 160 529 7 407 182

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Road Traffic Infringement Agency • Annual Report 2023/24