SAMSA Annual Report 2015 - 2016

CHAPTER 06 ANNUAL FINANCIAL STATEMENTS ANNUAL FINANCIAL STATEMENTS CHAPTER 06
NOTES TO THE FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016
17. OPERATING DEFICIT
Operating deficit for the year is stated after accounting for the following:
2016
R ‘000
2015
R ‘000
Awareness Programmes & Advertising 5 646 3 998
Auditors Remuneration 3 787 2 929
Computer Expenses 4 608 3 325
Consulting Fees 7 937 10 469
Conferences & Seminars 3 592 4 084
Telephone & Fax 6 446 5 430
Training 3 253 3 152
Travel - overseas 5 234 3 874
Travel - local 18 489 17 319
Internal audit fees 870 787
Depreciation 15 984 16 208
Employee costs 163 813 145 339
Research & Development 298 313
Printing & Stationery 3 823 3 198
Repairs & Maintenance 878 453
Partnership programmes 6 355 39 111
Projects 2 324 3 193
Commission paid on SAMSA Levies 7 148 7 253
Marine Interventions 153 21
Surveyor/mileage costs 2 472 2 510
Insurance 1 448 1 982
Donations 484 2 622
Implementation costs 10 949 13 296
Rentals 32 191 30 693
SA Agulhas expenses 25 585 42 054
Scholarship Programmes 1 781 5 981
Inventory 78 50
Other expenditure 15 563 18352
351 189 387 996
18. RELATED PARTY TRANSACTIONS
During the year, the Authority continued to provide maritime and rescue coordination and other services on behalf of the
Department of Transport as agreed in the memorandum of understanding signed between the agency and the department
respectively. Fees for those services received from the department amounted to R7.2 million in the current financial year
(2014/15: R6.8 million). The Authority also has an agreement with the National Ports Authority (NPA) for the collection of SAMSA
levies. NPA charges a commission of 2.5% for the collection of the levies and the revenue collected during this period was
R250.8 million (2014/15: R250.3 million). Commission charged on the transactions amounted to R7.1 million (2014/15: R7.3 million).
The transactions handled on behalf of the Department of Transport which relates to our administration of the Maritime Fund and
the financial statements are disclosed as part of this annual report. Emoluments and other payments made to executives and board
members are shown In the tables below.
The Minister of Transport approved the contribution by the Maritime Fund to the tune of R8 million to assist with the settlement of
amounts owing for the running of the dedicated training vessel (SA Agulhas 1) in SAMSA’s books.
The Authority also received R0 million (2014/15: R13.4 million) from the National Skills Fund (NSF) for the funding of maritime skills
development as the project came to an end during the financial year. The balance of funds owing to NSF was R1.3 million (2014/15:
R4 million). Funds for maritime skills development amounting to R5.0 million (2014/15: R13.1 million) were also received from the
Transport and Education Training Authority (TETA).
The related party balances are disclosed as follows:
External related parties
2016
R ‘000
2015
R ‘000
National Skills Fund (1 321) (4036)
Transnet National Ports Authority 28 934 28 647
Department of Transport 22 168 22 168
49 781 46 779
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