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 0 0
Irregular Expenditure 57 159 51 381
Fruitless & Wasteful Expenditure 200 628 167 402
FINANCIAL POSITION
Current Assets 1 041 589
Non-Current Assets 109 334 92 313
Total Assets 32 982 34 649
Current Liabilities 401 145 346 334
Non-Current Liabilities 127 222 112 313
Total Liabilities 9 758 9 010
Total Net Assets 49 384 27 787
FINANCIAL PERFORMANCE
Total Revenue 141 526 74 260
Property Rates - 652
Service Charges 210 482 126 306
Government Grants & Subsidies - -
Total Expenditure (95 976) 44 247
Employee Costs 538 371 350 329
Councillor Remuneration (137 226) (3 994)
Debt Impairments 41 250 48 242
Repairs & Maintenance - -
Bulk Purchases (95 976) 44 247
General Expenses - -
Surplus/Deficit for Year 2 656 62 574
CASH FLOW
Net Cash Flows from Operating Activities 3 488 62 574
Cash & Cash Equivalents at End of Year - -
 
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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