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 Note(s) 2024 2023

AARTO Payables/ Statutory Payables Gauteng Department of Community Safety Johannesburg Metropolitan Police Department

37 939 437 2 464 515 20 087 049

41 766 700 3 474 989 17 118 695

SAPO Pay@

137 561 43 844

- -

Road Traffic Infringement Agency

15 176 713

21 102 354

PayMyfine TMT

29 755

70 662

Other Payables - Unallocated Receipt

101 179 252 87 256 196 4 507 265 5 948 938 3 466 853 139 118 689

94 871 310 82 718 225 5 516 767 3 169 465 3 466 853 136 638 010

Unallocated receipts Other collecting agents

Net profit

Unallocated receipts - Take on

Entity as principal - Principal-agent relationship

The RTIA is a principal to all the Collecting Agents for the purposes of the collection of the AARTO penalties on behalf of the Issuing Authorities in terms of section 5(1) of the AARTO Act. These relationships are managed through the AARTO Act legislation and various legal forms such as service level agreement. In terms of the standard not all the collecting agents that are participating under the AARTO Act section 5(1) meet the definition of a principal agent arrangement. The collecting agents are entitled to a 3% collection fee only which is retained by the collecting agents as compensation fee for the services rendered, and the remaining funds collected are deposited onto the nominated AARTO bank account. The collecting agents are not entitled to the funds collected and therefore they do not have a right or recourse to the funds either than the collection fee which is due and payable after the collections of the funds. The purpose of the relationship is purely to manage the collection of funds in terms of section 5(1) of the AARTO Act. In the event that the relationship is terminated for whatsoever reason, such shall have no cost implications in this relationship.

149

Road Traffic Infringement Agency • Annual Report 2023/24