LIM335 Maruleng AFS 2012-13 audited

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MARULENG LOCAL
MUNICIPALITY
ANNUAL FINANCIAL STATEMENTS
FOR THE YEAR ENDING 30 JUNE
2013
MARULENG LOCAL MUNICIPALITY
ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED
30 JUNE 2013
General information
Members of the Council
P A Mafologele Mayor
Raganya B Speaker
M J Nyathi Members of the Executive Committee
M A Mathaba
M B Popela
M J Maahlo
M L Mongadi Members
E C Du Preez
M P Mashumu (Chief Whip)
M S Malapane
M C Mahlako
M R Malepe
S A Nyathi
L V Shaai
T A Mathaba
M C Magoro
M D Popela
J T Morema
M M Rakgoale
P A Shaai
R B Sekgobela
P E Shai
K J Monyela
M R Mametja
I H Malatjie
M J Rakgoale
P. Ratshoshi
Municipal Manager
R J Ramothwala
Acting Chief Financial Officer
M F Sekgobela
Grading of Local Authority
3
Auditors
Auditor-General
Bankers
Standard Bank
MARULENG LOCAL MUNICIPALITY
ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED
30 JUNE 2013
General information (continued)
Registered Office: Municipal Offices
Physical address: 65 Springbok St./-str. 65
Hoedspruit
1380
Postal address: P.O. Box/Posbus 627
Hoedspruit
1380
Telephone number: [phone]
Fax number: [phone]
E-mail address: [email protected]
MARULENG LOCAL MUNICIPALITY
ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED
30 JUNE 2013
INDEX
CONTENTS Page
STATEMENT OF FINANCIAL POSITION 1
STATEMENT OF FINANCIAL PERFORMANCE 2
STATEMENT OF CHANGES IN NET ASSETS 3
STATEMENT OF CASHFLOWS 4
NOTES TO THE ANNUAL FINANCIAL STATEMENTS 5-28
APPENDIX A:
APPENDIX B: ANALYSIS OF PROPERTY PLANT AND EQUIPMENT
APPENDIX C: SEGMENTAL ANALYSIS OF PROPERTY PLANT AND EQUIPMENT
APPENDIX D: SEGMENT STATEMENT OF FINANCIAL PERFOMANCE
APPENDIX E: STATEMENT OF COMPARATIVE AND ACTUAL INFORMATION
MARULENG LOCAL MUNICIPALITY
ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED
30 JUNE 2013
APPROVAL OF ANNUAL FINANCIAL STATEMENTS
Iam responsiblefor thepreparationof theseannualfinancialstatements, whichare setout
onpages1to35,interms ofSection126(1)oftheMunicipalFinanceManagementActand
which I have signed on behalf of the Municipality.
I certify that the salaries, allowances and benefits of Councillors, loans made to
Councillors,if any,andpaymentsmade toCouncillorsfor loss ofoffice, ifany,asdisclosed
innote22of theseannualfinancialstatements are withintheupper limits of theframework
envisaged in Section 219 of the Constitution, read with the Remuneration of Public Officer
Bearers Act and the Minister of Cooperative Governance and Traditional Affairs
determination in accordance with this Act.
R J RAMOTHWALA
MUNICIPAL MANAGER DATE
MARULENG LOCAL MUNICIPALITY
STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2013
2013 2012
Note R R
ASSETS
Current assets
Inventories 2 91 824 180 399
Receivable from exchange transactions 3 1 723 338 466 620
Receivable from non-exchange transactions 4 1 903 951 2 289 549
Other receivables 5 14 824 817 13 453 183
VAT receivable 6 3 887 985 470 565
Cash and cash equivalents 7 29 538 680 19 849 927
Non-current assets
Property, plant & equipment 8 359 795 268 352 724 691
Intangible assets 9 27 821 34 892
Investment property carried at cost 10 3 254 850 3 254 850
Total assets 415 048 534 392 724 676
LIABILITIES
Current liabilities
Trade and other payables from exchange
transactions 11 6 862 235 5 329 715
Trade and other payables from non exchange
transactions 11 3 382 431 4 022 298
Unspent conditional grants and receipts 12 3 742 042 1 170 756
Provision 13 696 314 739 880
Current portion of finance lease obligation 14 256 673 226 449
Non-current liabilities
Provisions 13 12 172 857 8 519 770
Finance lease liability 14 180 173 314 548
Total liabilities 27 292 726 20 323 417
387 755 809 372 401 260
Net Assets
Accumulated surplus/(deficit) 387 755 809 372 401 260
387 755 809 372 401 260
1
MARULENG LOCAL MUNICIPALITY
STATEMENT OF FINANCIAL PERFORMANCE FOR THE YEAR ENDED 30 JUNE 2013
2013 2012
Note R R
REVENUE
Property rates 16 11 305 512 10 341 899
Service charges 17 2 548 200 2 260 834
Finance income 18 1 246 988 969 593
Government grants and subsidies received - operating 19 64 241 714 52 984 243
Government grants and subsidies received - capital 19 27 885 010 30 279 670
Rental of facilities and equipment 256 312 319 516
Agency fees 20 3 743 537 3 671 553
Other revenue 21 1 622 788 767 185
Gain on disposal of assets 22 0 314 407
Total Revenue 112 850 061 101 908 900
EXPENDITURE
Employee related costs 23 33 627 508 28 016 594
Remuneration of councillors 24 7 358 761 6 846 399
Bad debts 1 705 371 3 588 743
Depreciation and amortisation expense 25 26 736 893 19 817 655
Finance cost 26 64 910 41 229
Repairs and maintenance 1 271 071 1 137 301
General expenses 27 20 637 607 27 553 293
Contracted services 28 5 222 219 5 214 941
Loss on disposal of Assets 22 871 171
Total Expenditure 97 495 512 92 216 156
NET SURPLUS/(DEFICIT) FOR THE YEAR 15 354 549 9 692 744
2
MARULENG LOCAL MUNICIPALITY
STATEMENT OF CHANGES IN NET ASSETS FOR THE YEAR ENDED 30 JUNE 2013
Pre GRAP Accumulated
Total: Net
Reserves & Surplus/
Assets
Funds (Deficit)
R R R
Balance at 1 July 2011 153 048 237 153 048 237
Correction of prior period error 198 083 176 198 083 176
Restated balance - 351 131 413 351 131 413
Surplus/(deficit) for the period 21 269 847 21 269 847
Balance at 30 June 2012 - 372 401 260 372 401 260
Changes in equity for 2013
Surplus/(deficit) for the period 15 354 549 15 354 549
Balance at 30 June 2013 - 387 755 809 387 755 809
3
MARULENG LOCAL MUNICIPALITY
STAMENT OF CASH FLOW FOR THE YEAR ENDING 30 JUNE 2013
2013 2012
Note R R
CASH FLOWS FROM OPERATING ACTIVITIES
RECEIPTS 110 226 234 84 941 891
Sales of goods and services 228 021 1 029 062
Property Rates 11 305 512 10 341 899
Grants 94 698 010 71 513 497
Other receipts 3 994 691 2 057 433
PAYMENTS (66 943 839) 59 296 130
Employee costs (33 627 508) 27 665 864
Remuneration for councillors (7 358 761) 6 846 399
Suppliers (6 493 291) 6 352 242
Other payments (19 464 279) 18 431 624
Cash generated from / (utilized in) operations 30 43 282 395 25 645 760
1 182 078 794 249
Investment revenue/ interests received 1 246 988 753 020
Interest Paid ( 64 910) 41 229
Net Cash From Operating Activities 44 464 474 26 440 010
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment and other assets (34 510 768) (30 962 293)
Proceeds from disposal of assets 0 870 000
Net cash used in investing activities (34 510 768) (30 092 293)
CASH FLOWS FROM FINANCING ACTIVITIES
Raising/(payment) of finance lease liabilities ( 264 952) 277 956
Net cash used in financing activities ( 264 952) 277 956
Increase/(decrease) in cash and cash equivalents 9 688 754 (3 456 785)
Cash and cash equivalents at beginning of the year 19 849 927 22 736 213
Cash and cash equivalents at end of June 2013 29 538 680 19 849 927

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MARULENG LOCAL MUNICIPALITY
STAMENT OF CASH FLOW FOR THE YEAR ENDING 30 JUNE 2013
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