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Letsemeng Local Municipality sree Fania Stents sein ened 90s 300 Teena ou ace Letsemeng Local Municipality ‘Annual Fanci Stsierents forthe year ended 9 June 2020 General Information Legal form of entty ‘A munity, wich san organo stato win the local phar of {Goverment enarosng logit aed execute author. Natur of business and principal actvtios ‘loca autor proving mincipl sees and minsning he bet intorest ft crmantyn te Lesarang municpal area Ccouneins ‘Mr 8 Bahu (Acting Mayor: 4 March 2010) Mes AN November Mr Boros MrTS Moheis MeTVNthape Mew Wea Grading of local authority rade 2 (Chiat Finance Oer (CFO) Mr 8 Tet ‘Accounting Ofteor Me TL Mane Registre ofco Ce Conte Groote Srost Koftetontn 9905 uniness address i Conte 7 Groote Steet 008 Postal adress Prat Bap XS 9008 ankare Fret National Bank ABSA Bank Autor: AustosGeneatot Sou Aes Letsemeng Local Municipality ‘Annual Fanci Stsierents forthe year ended 9 June 2020 Index ‘The opts an statements stout below comprise the anus! ancalsiaements preseried othe proviral legisatue: Page ‘Accounting Ofcars Responses and Approval 3 -Accourting Oficars Report as ‘tatamant of Fnancal Potton e Statement of FirsncalParomence 7 Statement of Changes in Net Assets ° (cath Flow Statement ° Statement of Compasen of Budo nd Act! Aneurts 0-12 Accounting Polos 13-0 Notes othe Annual France Statements e-2 Acsa ‘tor Caner of Sout Aion can Capit Repacement Reson coo Compensaton fo Occupational utes and Diseases asa Develement Bank of Sout Aen corae Generaty Recognised Acctuning Practice Hor Housing Development Fund ws nematonal Accounting Standart ro Insitute of Municipal Finance Ofcars \Paas Intmatona Pubic Sactr Accounting Standards NEMA Municipal Finance Management et Mo Municipal ntastucture Grant (Previously CMIP) Mecos Muna! Stansard Chat of Accounts sAGMP ‘South Atican Staterents of General Acepled Accourting Practice Letsemeng Local Municipality ‘Snnal Franca aero fort oor e708 90 Jone 2020 Accounting Officer's Responsibilities and Approval _betounting ovaries is eenpurate ho Ue wien ord ney of fa area teva acues Fees ie he oepens iyo te eon go ac {Ee pscrne se ots oer sr end he ly Socranisw any qloaoestcbe mca al fewest arson iced ca re sonue ansvealstnnts Hah pepsin a donc wl Saal ef Caney Receding Frocios GAAPr incon ay iret, suselnas ond oct ee son ey hn ote ny Stara Hear “he sel nave snore eta pn peace eon “heme elder gens end estate cea costo apd and cipered by nip ans gloesonesren priors nese tere eta etn ert seas macaroni sour eve eas se adete er nora ena an st tira Tinuthal nay shades Wainer Ie somite Pchdetne proserdclogaten of wrporsiblane sin cea Lied ommonunt cfcehececmuring somed ous ond wangune seayaton tien a srave a aorpahe el “The ire ra uo rs rnicbaly ae all omplsces sre ere formanain height esl Dp eran er prodtomined poss ie mnagaty on deity, zeroes Seb hs en Palas 8 appa as marge Ne “ho aecurina fone he sini, tem he ianratan an esantons aven 2 msroaome' Maw acl -sunesesse abe aosranea tt Sil yee ner een lhe mona Inara eters, ee, yu laa alcatel can sods en easel, 28 nl 2 ring fest canes te um opty 2 ose” Hone fr os yon 3s M2” sai eh (ata cid ce rmanel csc st en he mevcpaliy nae Chae cece aa ezorene 2 ‘bade, were eppcsed by Letsemeng Local Municipality ‘Annual Fanci Stsierents forthe year ended 9 June 2020 Accounting Officer's Report ‘The accounting oftce aut his report the year ended 20 June 2020, Review of setvition Main business and operations ‘Tha Lotsmang Loa! Municplty i ngogedin a focal authriy proving municipal eres Intra oft Gormunty ne Lssemeng munca area ‘The opcatg rests ad tat off of he munity ae fly et ot in the ached annul nancial eaten and Aonotinoutopnion require any her camer "Net eet of he municpaty was R20,548,716 (2019: date 84,308,736) rd maining th bot Management exerencos cath fow ifs ding he farcil pros. Management considered the olowng matare ‘elt tte gg conc + Tremunkipatys budgets ebjected ver rigorous independent aesestren process fo asses i cath backing status belo i lima approved by Coun. + Ante municipality ha i pone to ny oe, rile and carpe, hewlett in an ongoing now revene to ‘Sipport te ongong deveryofruntipalsevioes. Cet Key tana aos such ea gud, coal coverage, ‘dettorcallecton rates and credo’ payment fore re closely manfred and th necessary coectveachons ‘tite “Totng the aforementioned ito account management has prepared the anual arc laments onthe going concen ase. Tis bai presumes tat fon wl be avalabieo franc ure operations ad a he realeaton of asses ane ‘Stilrion o ois, carngetaulgasone end corer wil Soc in te rSnary sue of Doses ‘The ably fe munity to contnue a8 aging concer is depandent ona rue of ator. The most sigan of {revs ale gover wl Soue fun he operas ofthe muscpaiy Waugh he proven a te aaa ‘share, dtr the sccounting ote wl crtue to iriy menage te xsow cf the mnicpally and where necesary procure undng forthe engong epertons forthe munca. 3. Subsequent events ‘The Accounting Ofice not sare of ny mat or cteumsances ang ince the ed ofthe faci yea. ‘4 Accounting Oo’ intrest in contacts “The Accounting Oflosr hed no erst in any contacts 5. Accounting potion ‘The anual nancial siaoments propared in accordance wit the Standards of Gnerly Recogrisd Accounting Pracca (GRAM), nlodg ry orpretatone mated the Acanuntng Stands Boars and AccouingPractess Goat Noncurrent asso “There were no scant change inthe nature oe non-cent set otha munlcpalty dsr he yer. 7. Accounting Ofeae ‘The Accounting Ofc ofthe muna ring he yar ano the dae of his repo is a fotows: Name Natonaity MrT Mitwane Sour aan Letsemeng Local Municipality ‘Annual Fanci Stsierents forthe year ended 9 June 2020 Accounting Officer's Report 8 Corporat governance ener “Te Accounting Ofce i corte o busines integrity, ransparercy and profesional ina its cies. A prt of is ‘Srnec i pose glen vb of core omens on be poy cece Management meetings “The Accounting Ofer meets the scion $8 managers at last on a monty bass, Internal at ‘Te munigpalty he a own inter euturton. Thi in compance wih te Muncpl Faence Management Ac, 2003 (eto 8 of 2008, “Te municipal’ bankers it ot change during the year, 40. Autre ‘Audtox Genera of Sut Acs wl ontnus in fe fr the net ancl ped 11. Noncompllance with applicable leglelation ‘Sloicannor-camplance wi varius lt have been propery isose in heroes othe franc stators. 42, Retioment benefit obligation Management performed an acta valu fhe councils bay ain tom the portetrement heathear sbeiy (CPHE payable fo curentona reed empoyoos ‘Peyton n re ln he eer GRAP 25 ane misty hs tind he ena egee fr niet Accounting Oticer Letsemeng Local Municipality ‘Annual Fanci Stsierents forthe year ended 9 June 2020 Statement of Financial Position as at 30 June 2020 aT Rested” Note R a eset Curent Assets lnventoras (ther receivable tom exchange aneactons Recevabes rom exchange varaactons Recehables rom non-exchange ranactont Ce an cash equvalens Non Curen Assets Investnon propery Proper, plant an equpment angele assets Here assis (ther rani assets “Total Assets Francs ease obligation Payables tom exchange transactions Consuree depots 27ses2 e006 2aniess 2763085 47 259.208 Tez203u 13.4880857 ‘zo2ssa 3703777 7083.60 E g 8 _raz4n4r2 77704840 8 TO7486910 724,808.08 so Srast4 870.000 " 18000 15.000 2 e780 8087 MELEE 72.2419 _STAATOSET woos 2sa374 ‘14,02 90270308215 rose 72077 Employee beret obigaton| 575000 493.000 Unspent coasiona rants 49988713 55010777 VAT payable 1,806 875 TAB ST No-Curen sities Fanos lees obligation 13 ares toast Erolyee bevel bigston| s s@s8000 «235,000 Provsone 1 __secnas1 7945811 ea00074 —Taaes.e23 “ota Libies Trane 7 a6 7 38 Net eset 00 30400 728,753, ‘Accum suples Letsemeng Local Municipality ‘Annual Fanci Stsierents forthe year ended 9 June 2020 ‘Statement of Financial Performance aT Rested” Note R a Revenue Revenue from exchange transactions Servos charges 20 anseo.ze2 40.003. 188 Interest rested - oustanding debtors 2 Hascwo 1320077 Interest rested ~ external vestments 2 tasors son Rental of eles and equipment 2 eons 8408 Otnericame 24 srs aso. “Total revenue fom exchange transactions ra720 648.540 Revenue from nonexchangetameactions Proper see 25 mgosoua 1928241 Interest amped -cutanng debtors 21 “spsrars 403s “Transfer revenue overrenen grants and subsizes 28 sonazaz74 9.708.608 Publiccontroutone and donations a 5 eae Fines, penalties ed foots 2 pass 8368 “ota revenue fom non-exchange transactions SSRINCCNRERSLICT “ota revenue 168,790 988 106,974 Expenditure Employee reid conte 23 enasaassy (55516861) Ramuneraton of counelirs 2 “eqzoo2e “Gosntte) Depreciation and amartstion Bt aiosaar7) aazeazey) Inparment ose 2 (3zsess1) (2s0057) nanos cote = “@sisaza) (4ais700) Debt mpsiment 4 anssoaea) (45ers) Repar an maintenance 35 “egoas.ro) eso.tt4) olcpurcasee 3 Gr26r2is) (33053608) Profesional and consuing fees a7 “egso0isa) (7ta79) General expenses 38 _cns2es6i)_ (1507208) Total expenditure (2,763,796) 36,208,167) ‘peratng doit (G9,96,048) 45,168,728) Lites on diposal of asses and ibatos (143zea1) (2.500.162) Fer value agustrenis| we “Seen eee ‘atu gains 18 asto00 14000 Inventor os reversal oss) 492532206489, 73.3 (6.165009) Det forthe year R48. 716)_64,308738) Letsemeng Local Municipality ‘Annual Fanci Stsierents forthe year ended 9 June 2020 Statement of Changes in Net Assets Resamaaied Teale supis—‘ssscs peng balance a previously poring 236.000.81 635,000581 ‘ajurents Pryor suement (oe note 42) (s1.49.727)_ (6.948727) Balance at 1 ty 2018 restated” 7a5,50 864 783,050,864 Changes nei assets Supls forthe year (4.206,735)_(64.306735) ‘Total changes (4.306,735) (64308735) Restated” Balance at 4 July 2018 72m.T69,121 728,763,121 Changes in net assets Stic tr ine yer (29.a.716)_(23.548,716) “otal changes (.88.716)_(28. 508,776) Balance at 90 June 2020, 56 408 096,06, Letsemeng Local Municipality ‘Annual Fanci Stsierents forthe year ended 9 June 2020 Cash Flow Statement aT Rested” ows) a ‘Cash fows trom operating aetvtes Receipts Sai of gods and services searioer 90204306 Grane andevbedes rected scaae2 74 98.78608 Interest income ars 0488 Payments Employes cote (ezesaz74) (sa507.975) ‘Supper and oer payments (24.02.29) (61.26.08) (120.877 063) Net cashflows trom operating actives “ 59 ‘Cash fows from investing activites Purchase of propery, plant and ecupment ° Net cash flows trom investing activites (23396,733 ‘cashflows trom foancing setiviies Francs lease payments 79.508) __(61.re) Netincreaseldecrease) in cash and cash equivalents @soosis) 1.800.000 Cea and cash aquvaens atte begiring ote year 3703777 2128768 Cah and cash equivalents atthe eof tre year 7 Tams ares