annrep 1011 1 to 148.qxp - Department of Defence

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D E P A R T M E N T O F D E F E N C ESOUTH AFRICAN NATIONAL DEFENCE FORCE FUNDNOTES TO THE FINANCIAL STATEMENTSfor the year ended 31 March 20112. Cash and cash equivalentsCash and cash equivalents consist of cash on hand and balances with banks.Note2010/11R2009/10RCash on hand and balances with banks24 97624 97647 00047 0003. Investments in financial assets3.1 Fixed term deposit3.1.1 Maturity date: 26/05/10Interest rate: 6.5%Opening balanceInterest accruedClosing balanceOpening balanceInterest earnedClosing balance transferred to Investment (refer 3.1.3)3.1.2 Maturity date: 31/05/10Interest rate: 7%Opening balanceInterest accruedClosing balanceOpening balanceInterest earnedClosing balance transferred to Investment (refer 3.1.5)3.1.3 Maturity date: 26/08/2010Interest rate: 5.85%Opening balanceInterest earnedClosing balance transferred to Investment (refer 3.1.4)3.1.4 Maturity date: 30/11/2010Interest rate: 5.65%Opening balanceInterest earnedClosing balance transferred to Investment (refer 3.1.7)3.1.5 Maturity date: 30/11/2010Interest rate: 6.1%Opening balanceInterest earnedClosing balance transferred to Investment (refer 3.1.6)1 028 72910 1991 038 92810 314 604117 84110 432 4451 038 92815 3201 054 2481 054 24815 6671 069 91510 432 445319 06110 751 5061 022 7196 0101 028 72910 073 124241 48010 314 604288ANNUAL REPORT FY 2010/2011
D E P A R T M E N T O F D E F E N C ESOUTH AFRICAN NATIONAL DEFENCE FORCE FUNDNOTES TO THE FINANCIAL STATEMENTSfor the year ended 31 March 2011Note2010/11R2009/10R3.1.6 Maturity date: 31/05/2011Interest rate: 5.50%Opening balanceInterest accrualClosing balance at year end 31/03/20113.1.7 Maturity date: 31/01/2011Interest rate: 5%Opening balanceInterest earnedClosing balance transferred to Investment (refer 3.1.8 and 3.1.10)3.1.8 Maturity date: 28/02/2011Interest rate: 4.95%Opening balanceInterest earnedClosing balance transferred to Investment (refer 3.1.9)3.1.9 Maturity date: 31/03/2011Interest rate: 5.05%Opening balanceInterest earnedClosing balance transferred to Investment (refer 3.1.11)3.1.10 Maturity date: 31/3/2011Interest rate: 5%Opening balanceInterest earnedClosing balanceTransferred to current accountClosing balance transferred to Investment (refer 3.2.2)3.1.11 Maturity date: 30/6/2011Interest rate: 5.25%Opening balanceInterest earnedClosing balance at year end 31/03/201110 751 506197 65110 949 1571 069 9159 0861 079 00169 91526570 18070 18030170 4811 009 0878 1561 017 243(16 000)1 001 2431 071 7241541 071 87847 00047 0001,022,7196,0101,028,72910,073,124241 48010,314 6044. ProvisionsA provision for accounting fees has been recognised to be incurred in the 2010/11 financial year.The accounting fees relate to an Honorarium fee for meetings attended, monthly accounting work and compilationof annual financial statements. The accounting fee and the timing of the payment are determined based on the discretionof the Board (no fix contract exist between the accountant and the Board) subsequent to the year end andpreparation of financial statements.ANNUAL REPORT FY 2010/2011 289
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Chapter 1D E P A R T M E N T O F D
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annrep 1011 1 to 148.qxp - Department of Defence

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