GDF Annual Report - Gauteng Provincial Treasury

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SECTION 4: ANNUAL FINANCIAL STATEMENTS5.3 Contingent assetsContingent assets are included in the disclosure notesto the financial statements when it is probable that aninflow of economic benefits will flow to the entity.5.4 CommitmentsCommitments are not recognised in the statement offinancial position as a liability or as expenditure in thestatement of financial performance but are included inthe disclosure notes.5.5 AccrualsAccruals are not recognised in the statement offinancial position as a liability or as expenditure in thestatement of financial performance but are included inthe disclosure notes.5.6 Employee benefitsShort-term employee benefits that give rise to apresent legal or constructive obligation are disclosedin the disclosure notes to the financial statements.These amounts are not recognised in the statementof financial performance or the statement of financialposition.5.7 Lease commitmentsFinance leaseFinance leases are not recognised as assets andliabilities in the statement of financial position.Finance lease payments are recognised as an expensein the statement of financial performance and areapportioned between the capital and interest portions.The finance lease liability is disclosed in the disclosurenotes to the financial statements.Operating leaseOperating lease payments are recognised as anexpense in the statement of financial performance.The operating lease commitments are disclosed in thediscloser notes to the financial statement.5.8 Impairment and other provisionsThe department tests for impairment where thereis an indication that a receivable, loan or investmentmay be impaired. An assessment of whether there isan indication of possible impairment is done at eachreporting date. An estimate is made for doubtful loansand receivables based on a review of all outstandingamounts at year-end. Impairments on investmentsare calculated as being the difference between thecarrying amount and the present value of the expectedfuture cash flows / service potential flowing from theinstrument.Provisions are disclosed when there is a present legalor constructive obligation to forfeit economic benefitsas a result of events in the past and it is probable thatan outflow of resources embodying economic benefitswill be required to settle the obligation and a reliableestimate of the obligation can be made.6. Receivables for departmentalrevenueReceivables for departmental revenue are disclosed inthe disclosure notes to the annual financial statements.7. Key management personnelCompensation paid to key management personnelincluding their family members where relevant, isincluded in the disclosure notes.176176Annual Report 2010 / 2011
SECTION 4: ANNUAL FINANCIAL STATEMENTSNOTES TO THE ANNUAL FINANCIAL STATEMENTS for the year ended 31 March 20111. Annual Appropriation1.1 Annual AppropriationIncluded are funds appropriated in terms of the Appropriation Act (and the Adjustments Appropriation Act) for National Departments (Voted funds) and Provincial Departments:2010/11 2009/10Final AppropriationActual FundsFunds not requested/ AppropriationReceivednot receivedreceivedProgramme R’000 R’000 R’000 R’000Administration 273,291 273,291 - 386,718Sustainable Resource Management 32,413 32,413 - 33,184Financial Governance 39,634 39,634 - 21,949Provincial Accounting Service 48,787 48,787 - 67,736Gauteng Audit Services 43,159 43,159 - 43,467Hire to Retire Services 96,556 96,556 - 94,267Procure to Pay Services 81,592 81,592 - 87,503Technology Support Serv 849,576 849,576 - 745,877Gauteng Fund Agency 50,000 50,000 - 40,000Total 1,515,008 1,515,008 - 1,520,7012. Departmental revenueNote 2010/11 2009/10R’000 R’000Sales of goods and services other than capital assets 2.1 936 881Interest, dividends and rent on land 2.2 37,044 54,165Sales of capital assets 2.3 62 -Transactions in financial assets and liabilities 2.4 4,561 1,857Departmental revenue collected 42,603 56,903Gauteng Department of Finance177
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Annual Report2010/11Building a resu
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FOREWORD BY THE MECAs an activist,
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EXECUTIVE SUMMARYThe 2010/2011 fisc
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SECTION 1:DEPARTMENTAL OVERVIEW
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SECTION 2: REPORT ON ORGANISATIONAL
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GDF Annual Report - Gauteng Provincial Treasury

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