ACFI 2011/12.indd - Gauteng Provincial Treasury

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GAUTENG PROVINCE PUBLIC DEPARTMENTSNotes to the Combined Financial Statementsas at 31 March 201217. Investments2011/2012Notes R’0002010/2011R’000Non-currentCapital investment in Medical Supplies DepotAcquisition of Blue IQ Shares at Par ValueTotal non-current54,000454,00454,00055,004109,004The investment of R54 000 000 represents the initial capital to establish the Medical Depot by the Department of Health and SocialDevelopment.The R4 000 represents the initial investment in Blue IQ Investments by the Department of Economic Development. The change fromthe prior year resulted from an adjustment to refl ect the correct treatment in terms of chapter 6 of the Departmental Financial ReportingFramework which has been disclosed in the Department of Economic Development (DED)The Investment of R55 million is for shares in Wakegem (Pty) Ltd, trading as African Romance, which was acquired in 2008/2009fi nancial year and has been transferred to Gauteng Enterprise Propeller (GEP) as part of the DED’s strategy on local benefi ciation ofmineral resources.18. Bank overdraftCombined Paymaster General AccountTotal3,117,4703,117,4703,036,9563,036,956Combined Financial Information Annual Report 2011/12 | Gauteng Provincial Government37
GAUTENG PROVINCE PUBLIC DEPARTMENTSNotes to the Combined Financial Statementsas at 31 March 201219. Payables-Current2011/2012Notes R’0002010/2011R’000Amounts owing to other entitiesAdvances receivedClearing accountsOther payablesVoted funds to be transferredConditional grants to be transferredOtherUnauthorised Expenditure not funded by Revenue FundUnused conditional grant to be transferred back to National GovernmentTotal1,102,15423,75113,64484,2735,34188,33856,285174,0891,066,1612,614,036758,31119,76711,880142,0505,34111,160-174,089450,0721,572,67020. BorrowingsCurrentDomesticTotal Current BorrowingsNon-currentLong TermDomesticTotal Long Term Borrowings20.120.2113,776113,7765,011,2415,011,241978,800978,8004,200,0004,200,000The current borrowings with DBSA were acquired in March 2011 and payable within 6 months with interest on the basis of the 6 monthJIBAR plus 60 points. The fi nal rate will be determined and fi xed based on the close-out rate two days prior to the disbursement of theloan.The long term borrowing relates to the loan from National Treasury for the construction of the Gautrain Project. The loan will berepayable from 01 April 2013 in 5 equal installments until 01 April 2017, the interest rate is based on the R203 Government Bond aspublished by the Bond Exchange of South Africa from the date the loan was acquired.38 Gauteng Provincial Government | Combined Financial Information Annual Report 2011/12
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ACFI 2011/12.indd - Gauteng Provincial Treasury

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