NRF Annual Report 2018

PART D: ANNUAL FINANCIAL STATEMENTS
STATEMENT OF FINANCIAL PERFORMANCE
Revenue
Revenue from exchange transactions
Sale of goods and services 20 81,041 67,968
Other income 21 7,645 13,882
Entrance fees 32,102 34,576
Interest received investment 22 46,264 103,463
Total revenue from exchange transactions 167,052 219,889
Revenue from non-exchange transactions
Parliamentary grant 925,964 882,805
Ring fenced income 23 2,383,803 2,177,930
Contract income 24 1,249,078 1,218,254
Total revenue from non-exchange transactions 4,558,845 4,278,989
Total revenue 4,725,897 4,498,878
Expenditure
Programme 1: Corporate (89,954) (77,459)
Programme 2: Science Engagement (169,924) (169,509)
Programme 3: Research and Innovation Support and Advancement (2,794,099) (2,690,504)
Programme 4: National Research Infrastructure Platforms (1,137,738) (1,067,956)
Total expenditure (4,191,715) (4,005,428)
Operating surplus 29 534,182 493,450
Loss on disposal of assets and liabilities (299) (1,281)
Profit/(loss) on foreign exchange 520 (1,873)
Actuarial gains/(losses) 8 295 2,242
Share of deficits from associates, accounted for using the equity method 6 (2,314) (4,348)
Finance cost (43) (47)
(1,841) (5,307)
Surplus for the year before asset acquisitions* 532,341 488,143
The accounting policies on pages 158 to 162 and the notes on pages 163 to last page of AFS form an integral part of the annual financial
statements.
* R536m (2017: R501m) of this figure has been applied to the net acquisition of assets (refer to Statement of Changes in Net Assets).
Note(s)
2018
R’000
2017
R’000
160
NRF Annual Report 2017/18