Entire Document - Chris Hani District Municipality

13. CURRENT ASSETSCurrent Assets amounted R424 286 534 as at 30 June 2012 (30 June 2011: R441949 677) and is made up as follows:Inventory Note 2 797 303Trade Receivables from Non-exchange Transactions Note 5 105 529 455VAT Receivable Note 6 16 436 009Bank Balances and Cash Note 7 297 954 043420 716 809Refer to the indicated Notes for more detail.14. INTER-GOVERNMENTAL GRANTSChapter 4The municipality is dependent on financial aid from other government spheresto finance its annual capital programme. Operating grants are utilised to financeindigent assistance and provision of free basic services.Refer to Notes 15 and 21 to the Annual Financial Statements for more detail.15. EVENTS AFTER THE REPORTING DATEFull details of all known events, if any, after the reporting date are disclosed in Note54.16. GENERAL RECOGNISED ACCOUNTING PRACTICE (GRAP)In order to adhere to principles and procedures prescribed by law and the directionsof National Treasury, the Annual Financial Statements have been converted to thenew reporting GRAP-format.17. EXPRESSION OF APPRECIATIONWe are grateful to the Executive Mayor, members of the Mayoral Committee,Councillors, the Municipal Manager and Heads of Departments for the supportextended during the financial year. A special word of thanks to all staff in the FinanceDepartment, for without their assistance these Annual Financial Statements wouldnot have been possible.101