Msukaligwa Local Municipality (MP302)

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Financial Information
ALL VALUES: R'000 2012/13 2011/12
AUDIT OUTCOME Disclaimer of audit opinion  Disclaimer of audit opinion 
Unauthorised Expenditure 89 069 -
Irregular Expenditure - -
Fruitless & Wasteful Expenditure 9 555 -
FINANCIAL POSITION
Current Assets 149 408 125 559
Non-Current Assets 1 699 985 308 419
Total Assets 1 849 393 433 978
Current Liabilities 324 508 81 193
Non-Current Liabilities 64 634 60 101
Total Liabilities 389 141 141 294
Total Net Assets 1 460 252 292 684
FINANCIAL PERFORMANCE
Total Revenue 442 396 394 587
Property Rates 57 159 51 379
Service Charges 200 770 167 441
Government Grants & Subsidies 150 492 152 949
Total Expenditure (544 131) (360 534)
Employee Costs (131 584) (112 313)
Councillor Remuneration (9 758) (9 010)
Debt Impairments (44 084) (17 844)
Repairs & Maintenance (15 492) -
Bulk Purchases (195 215) (108 181)
General Expenses (55 396) (63 869)
Surplus/Deficit for Year (101 735) 34 053
CASH FLOW
Net Cash Flows from Operating Activities 17 222 81 232
Cash & Cash Equivalents at End of Year (27 971) (5 861)
 
Source Annual Financial Statements Annual Financial Statements
Annual Report Annual Report
Integrated Development Plan Integrated Development Plan

Financial Audit Outcomes

The objective of an audit of financial statements is to express an opinion on whether the financial statements fairly represent the financial position of the auditee at financial year-end and the results of its operations for the financial year.

The Auditor-General can express one of the following audit opinions:

Clean audit outcome: The financial statements are free from material misstatements (in other words, a financially unqualified audit opinion) and there are no material findings on reporting on performance objectives or non-compliance with legislation.

Financially unqualified with findings: The financial statements contain no material misstatements. Unless the Auditor General expresses a clean audit outcome, findings have been raised on either reporting on predetermined objectives or non-compliance with legislation, or both these aspects.

Qualified audit opinion: The financial statements contain material misstatements in specific amounts, or there is insufficient evidence for the Auditor General to conclude that specific amounts included in the financial statements are not materially misstated.

Adverse audit opinion: The financial statements contain material misstatements that are not confined to specific amounts, or the misstatements represent a substantial portion of the financial statements.

Disclaimer of audit opinion: The auditee provided insufficient evidence in the form of documentation on which to base an audit opinion. The lack of sufficient evidence is not confined to specific amounts, or represents a substantial portion of the information contained in the financial statements.

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