ACFI 2011/12.indd - Gauteng Provincial Treasury

GAUTENG PROVINCE PUBLIC ENTITIESNotes to the Combined Financial Statementsas at 31 March 201136. Restatement of prior year figuresRestatement of prior year fi gures is reported in the combined fi nancial statements due to the reclassifi cation of various account items fora number of entities. Due to a change in management judgment, these transactions are deemed to have been incorrectly classifi ed in theprevious fi nancial year and have now been rectifi ed in the current fi nancial year.Secondly the substantial restatement of the prior year fi gures is due to the Gauteng Housing Fund that did not form part of the combinedfi nancial statements last year and in the current fi nancial year it forms part of the combined fi nancial statements.The comparative fi gures for the following accounts have been implicated:Combined Statement of Financial PositionAssetsNon-current assetsProperty, plant and equipmentInvestment propertyBiological assetsTrade and other receivablesOther investmentsFinance lease receivables2011R’000Restated1,917,580889,274170,606148,35898,74488,09120112011R’000 R’000Error As previouslyreported1,304,214(134,687)170,60620,5303(115)613,3661,023,961-127,82898,74188,206Current assetsTrade and other receivablesCash and cash equivalentsAssets classifi ed as held for sale1,374,8082,268,14535,788(26,882)1,716(2,783)1,401,6902,266,42938,571LiabilitiesNon-current liabilitiesLoans and borrowingsFinance lease obligationsProvisionsCurrent liabilitiesLoans and borrowingsTrade and other payablesFinance lease obligationsProvisions - Current SPOLiabilities of assets classifi ed as held for saleNet AssetsOther reservesAccumulated surplus/defi cit - SPO143,1731,718386299,4342,935,4113,27246,4494,5991,116,5002,507,810(13,870)(1,573)38624,2658,7221,573760(70)1,117,167200,421157,0433,291-275,1692,926,6891,69945,6894,669(667)2,307,389Combined Financial Information Annual Report 2011/12 | Gauteng Provincial Government85