SAMSA Annual Report 2015 - 2016

CHAPTER 06
ANNUAL FINANCIAL STATEMENTS
BUDGET VARIANCES
EXPLANATIONS FOR THE PERIOD ENDED 31 MARCH 2016
3.21 RESEARCH PROGRAMME
Research activities which were to be funded by SAMSA were not carried out in line with cost containment activities. The whole
amount spent on research was funded by a third party.
3.22 INTEREST PAID
The funding challenges experienced by the organisation resulted in the organisation not being able to pay its bills on time. As a
result of this, interest charges were levied on long outstanding amounts by our creditors. The bulk of this interest was charged by
Smit Amandla for the running of the SA Agulhas.
3.23 INTERNAL AUDIT
Internal audit work spent was less than budgeted as a number of internal audit assignments were still being executed at the end of
the financial year.
3.24 PROPERTY, PLANT AND EQUIPMENT
2015/16 Budget
R ’000
2015/16 Actual
R ’000
2015/16 Variance
R ’000
MARITIME FUND REPORT
FOR THE YEAR ENDED 31 MARCH 2016
Furniture and fittings Cost 514 1 530 -1 016
Equipment Cost 411 450 -39
Computer equipment Cost 4 380 1 925 2 455
Computer software Cost 3 250 2 990 260
8 555 6 895 1 660
The Authority underspent on capital expenditure by R1.6 million. The decision was taken based on the fact that SAMSA tariffs had
not been adjusted and remained at the same levels, therefore there was inadequate funding for infrastructure. The overspent on
furniture and fittings was due to the fact that many of items of furniture gave in due to non-replacement over a long period of time.
To ensure that staff members continued to work, the furniture had to be replaced.
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