2005/2006 - SANParks

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2005South African National ParksNOTES TO THE ANNUAL FINANCIAL STATEMENTSfor the year ended 31 March 200631 March 2006R’00031 March 2005R’00020 Deferred income - obligation regarding special project grantsSouth African National Parks periodically manage special projects. Theseprojects are funded by various donors in the form of grants. For most projectsthe monies are received in advance but in other cases the costs relating to theprojects are reimbursed on a regular basis.Opening balance 182,701 114,784Funding received 156,193 193,143Department of Environmental Affairs and Tourism- Expanded Public Works Programme 38,438 119,623- Coast Care 9,705 700- Limpopo Transfrontier Park 6,856 4,612- Kids in Parks 2,400 -- Marine Coastal Management 1,570 -Rand Water - Golden Gate 14,721 4,152French Environmental Management - 3,029Global Environmental Facility 9,948 17,664Working-for-Water 41,724 25,285Cape Metropolitan Council 12,276 5,759SAEON 1,326 -Theta 2,799 -DBSA 3,813 -Mellon Foundation 1,712 -Other 8,905 18,079Interest earned 8,187 5,579347,081 313,506Expenditure 192,933 130,805- Operational 116,808 52,822- Work in progress (Note 10) 70,890 58,568- Property, plant and equipment 5,235 19,415Closing balance 154,148 182,701128
ANNUAL FINANCIAL STATEMENTSfor the year ended 31 March 20062006South African National Parks31 March 2006R’00031 March 2005R’000Balances of significant projects at year endPoverty relief 133,154 144,951Limpopo Transfrontier Park 8,364 7,697Cape Metropolitan Council 4,003 -Coast Care (1,332) (1,226)Global Environmental Facility (4,156) (374)Theta 2,403 -Working-for-Water (2,738) (11,262)Other 14,450 42,915154,148 182,70121 Change in accounting policy with respect to the insurance reserveDuring the year ended 31 March 2006, the entity changed its accounting policywith respect to the treatment of self insurance costs. The entity has a policy toself insure certain costs. A separate funding account to the amount of R10 millionare maintained for this purpose (Note 14). In order to conform to the benchmarktreatment in the Standard of Generally Recognised Accounting Practice onPresentation of Financial Statements, the entity has now decided to expensethe self insurance costs directly in the statement of fi nancial performance andreversed the insurance reserve previously sustained. This change in accountingpolicy has been accounted for retrospectively. The comparative statements for2005 have been restated to conform to the changed policy. The effect of thechange is an increase in operating costs of R2 725 988 (2006) and R19 134(2005) (Note 6.1). Opening accumulated surpluses for 2005 have been reducedby R10 million, which is the amount of the insurance reserve reversal.129
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