Entire Document - Chris Hani District Municipality

53. PRIVATE PUBLIC PARTNERSHIPSThe municipality was not a party to any Private Public Partnerships during thefinancial year 2011/12.54. EVENTS AFTER THE REPORTING DATENo events having financial implications requiring disclosure occurred subsequent to30 June 2012.54.1 Chris Hani Development Agency:The Chris Hani Development Agency Entity, which was registered on 21 February2012, commenced operations on 01 July 2012. No commitments were made by theentity prior to the commencement of operations. The municipality Chris Hani DistrictMunicipality holds all shares (100%) in the entity.Chapter 455. COMPARATIVE FIGURESThe comparative figures were restated as a result of the effect of Changes inAccounting Policies (Note 37) and Prior Period Errors (Note 38).56. STANDARDS AND INTERPRETATIONS IN ISSUE NOT YET ADOPTEDAt the date of authorisation of these Annual Financial Statements the municipalityhas not applied the following GRAP standards that have been issued, but are not yeteffective:- GRAP 18 Segment Reporting - issued March 2005- GRAP 20 Related Party Disclosures - revised- GRAP 21 Impairment of Non-cash-generating Assets - issued March 2009- GRAP 23 Revenue from Non-exchange Transactions (Taxes and Transfers) - issuedFebruary 2008- GRAP 24 Presentation of Budget Information in Financial Statements - issued November2007- GRAP 25 Employee Benefits - issued December 2009- GRAP 26 Impairment of Cash-generating Assets - issued March 2009- GRAP 103 Heritage Assets - issued July 2008- GRAP 105 Transfers between Entities under common control - issued November 2010- GRAP 106 Transfers between Entities not under common control - issued November2010- GRAP 107 Mergers - issued November 2010Application of all of the above GRAP standards will be effective from a date to beannounced by the Minister of Finance. This date is not currently available.Management has considered all the GRAP standards issued but not yet effectiveand anticipates that the adoption of these standards will not have a significant impacton the financial position, financial performance or cash flows of the municipality.215