Msukaligwa Local Municipality (MP302)

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Financial Information
ALL VALUES: R'000 2011/12 2010/11
AUDIT OUTCOME Disclaimer of audit opinion  Financially unqualified with findings 
Unauthorised Expenditure - 26 126
Irregular Expenditure - -
Fruitless & Wasteful Expenditure - -
FINANCIAL POSITION
Current Assets 125 559 119 394
Non-Current Assets 308 419 276 725
Total Assets 433 978 396 119
Current Liabilities 81 193 87 919
Non-Current Liabilities 60 101 46 135
Total Liabilities 141 294 134 053
Total Net Assets 292 684 262 066
FINANCIAL PERFORMANCE
Total Revenue 394 587 323 698
Property Rates 51 379 42 214
Service Charges 167 441 150 775
Government Grants & Subsidies 152 949 108 616
Total Expenditure (360 534) (323 746)
Employee Costs (112 313) (106 648)
Councillor Remuneration (9 010) (7 464)
Debt Impairments (17 844) (15 411)
Repairs & Maintenance - -
Bulk Purchases (108 181) (91 929)
General Expenses (63 869) (47 650)
Surplus/Deficit for Year 34 053 (48)
CASH FLOW
Net Cash Flows from Operating Activities 81 232 41 035
Cash & Cash Equivalents at End of Year (5 861) (13 893)
 
Source Audited Financial Statements Audited Financial Statements

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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The information in this directory is supplied and/or externally sourced and is also subject to continual change. If you notice any errors or omissions, please contact us at info@municipalities.co.za so that we can correct it.