e r 2 - Umgeni Water

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Chapter| Debt Management and Funding Requirements16.1.5 Analysis of Funding Against Approved Borrowing LimitsIn preparing the funding strategy, cognisance was taken of the level of gross debt against the unconditionalborrowing limit set by the Department of Water Affairs and National Treasury which is based on R 1,800 million forF’11. A 3 year application for 2012 to 2014 borrowing limits has been made to DWA and National Treasury asfollows:• F’12 – R2 000m• F’13 – R2 000m• F’14 – R2 000mFigure 16.3: Analysis of funding against approved borrowing limits4 500 000Debt curve - Funding against limits4 000 0003 500 0003 000 0002 500 0002 000 000Redemption Portfolio*Gross DebtNet DebtFunding RequirementsBorrowing Limit1 500 0001 000 000500 000-'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25 '26 '27 '28 '29 '30 '31 '32Table 16.7: Gross Borrowings (R’m)Borrowing Limit F11 F12 F13 F14 F15 F16Gross Borrowings 1 400 1 353 1 488 1 394 1 262 1 124At PeakContingencies 200 300 300 300 300 300TOTAL GROSS BORROWINGS 1 600 1 653 1 788 1 694 1 562 1 424Approved borrowing Limit 1 800(Over) Under utilisation 200 1 653 1 788 1 694 1 562 1 424Page 128 Umgeni Water Five-Year Business Plan | 2011/2012 to 2015/2016
16.1.6 Debt Curve| Debt Management and Funding Requirements ChapterThe shift in long-term borrowings arises primarily from the reduction in volumes sales and the thirty-yearincrease in Capex.Figure 16.4: Comparison of gross Debt Budget F’11 to Budget F’12Gross Borrowings4 0003 5003 0002 500Borrowing LimitBudget F'12Budget F'11R'm2 0001 5001 000500-'08 '10 '12 '14 '16 '18 '20 '22 '24 '26 '28 '30 '32 '34 '36 '38Figure 16.5: Comparison of net Debt Budget F’11 to Budget F’12Net Debt CurveR'm4 0003 5003 0002 5002 0001 5001 000500Budget F'12Budget F'110'08 '10 '12 '14 '16 '18 '20 '22 '24 '26 '28 '30 '32 '34 '36Financial Year ending 30 JuneUmgeni Water Five-Year Business Plan | 2011/2012 to 2015/2016 Page 129
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Chapter| Table of ContentsPage 2 Um
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Chapter| Foreword by the ChiefExecu
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| Introduction and Strategy Chapter
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| Introduction andd StrategyChapter
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| Policy StatementChapterChapter 3.
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| Directivesby thee MiniisterChapte
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For thee strategicobjective ‘excc
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| Self-Appraisal Chaptero The proje
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| Participation inCompaniesChapterC
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| Water ResourcesChapterChapter 7.W
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| Water Resources Chapter7.2 Water
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7.4 Water Demands, Planned Developm
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| Water Resources ChapterFigure 7.1
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| Water Resources Chapterconstructi
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| Water ResourcesChapterandSouthCoa
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| BulkPotable WaterSupply PlanChapt
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| BulkPotable Waterr Supply PlanCha
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| Bulk Potable Water Supply Plan Ch
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8.4.2 Bulk Water Supply Infrastruct
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| Bulk Wastewater Treatment andd Di
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| RetailSupplyChapterChapter 10.Ret
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| OtheOer Activitiess (Sectionn 30)
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| Other Activities (Section 30) Cha
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| HumanResources PlanChapterChapter
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| HumanResources PlanChapterFigure1
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| Human Resources Plan ChapterThe s
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| HumanResources PlanChapter12.7Gov
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| Environmental ManaMagementt Progr
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| Environmental Management Programm
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Page 83 and 84: | Financial Plan Chapter15.2.2 Staf
Page 85 and 86: | Financial Plan Chapter15.2.4 Raw
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Page 89 and 90: | Financial Plan Chapter15.4 Tariff
Page 91 and 92: | Financial Plan Chapter15.5 Subsid
Page 93 and 94: | Financial Plan Chapter15.7 Challe
Page 95 and 96: Table 15.12: Umgeni Water Income St
Page 97 and 98: | Financial Plan ChapterTable 15.14
Page 101 and 102: Table 15.18: Umgeni Water Cash Flow
Page 103 and 104: Table 15.20: Msinsi Holdings Balanc
Page 105 and 106: Table 15.22: Umgeni Water Services
Page 109 and 110: Table 15.26: Group Cash Flow Statem
Page 111 and 112: | Financial Plan Chapter15.9 Capita
Page 113 and 114: | Financial PlanChapterFigure 15. .
Page 115 and 116: | Financial Plan ChapterProject Cat
Page 117 and 118: | Financial PlanChapterTable 15.31:
Page 119 and 120: Table 15.34: Rural Project Evaluati
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Page 125 and 126: | Debt Management and Funding Requi
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Page 137 and 138: | Financial Ratios ChapterChapter 1
Page 139 and 140: Table 18.2: Group Financial Ratios|
Page 141 and 142: | Self-Evaluation Staatement onFina
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Page 149 and 150: | Bank Accounts Chapter19.7 Analysi
Page 151 and 152: | Analysis of o RiskRksChapterChapt
Page 153 and 154: | Analysis of Risks Chapter# Risk a
Page 155 and 156: | Organisational Scorecard: Key Per
Page 165 and 166: | DeclarationChapterChapter 23.Decl
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