Table Of Content

PRINCE ALBERT MUNICIPALITY AUDITED ANNUAL FINANCIAL STATEMENTS 30 JUNE 2019 PRINCE ALBERT LOCAL MUNICIPALITY Index Contents Page General Information 1 Approval of the Financial Statements 3 Statement of Financial Position 4 Statement of Financial Performance 5 Statement of Changes In Net Assets 7 Cash Flow Statement 8 Statement of Comparison of Budget and Actual Amounts - Statement of Financial Position 9 Statement of Comparison of Budget and Actual Amounts - Statement of Financial Performance 10 Statement of Comparison of Budget and Actual Amounts - Cash Flow Statement 11 Accounting Policies 12 - 50 Notes to the Financial Statements 51 - 91 APPENDICES A Schedule of External Loans 92 Disclosure of Grants and Subsidies In Terms of Section 123 of MFMA, B 56 of 2003 93 C National Treasury Appropriation Statements - Revenue and Expenditure (Standard Classification) 94 - Revenue and Expenditure (Municipal Vote Classification) 96 - Revenue and Expenditure (Revenue by Source and Expenditure by Type) 97 - Capital Expenditure by Vote, Standard Classification and Funding 99 - Cash Flows 101 D Deviations from Supply chain management policy 102 PRINCE ALBERT LOCAL MUNICIPALITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019 GENERAL INFORMATION NATURE OF BUSINESS PRINCE ALBERT Municipality is a local municipality performing the functions as set out in the Constitution. (Act no 105 of 1996) COUNTRY OF ORIGIN AND LEGAL FORM South AfricanCategoryBMunicipality(LocalMunicipality)asdefinedbytheMunicipalStructures Act. (Actno117 of 1998) JURISDICTION The PRINCE ALBERT Municipality includes the following areas: Prince Albert Klaarstroom Leeu Gamka EXECUTIVE MAYOR G. Lottering DEPUTY EXECUTIVE MAYOR L. Jaquet SPEAKER S. Botes MEMBERS OF THE EXECUTIVE COMMITTEE Executive Mayor G. Lottering Deputy Executive Mayor L. Jaquet Speaker S. Botes MUNICIPAL MANAGER Ms. A Vorster CHIEF FINANCIAL OFFICER Mr. J Neethling REGISTERED OFFICE 23 Church Street Prince Albert 6730 Private Bag X53 PRINCE ALBERT 6730 AUDITORS Office of the Auditor General (WC) PRINCE ALBERT LOCAL MUNICIPALITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019 GENERAL INFORMATION PRINCIPLE BANKERS ABSA Bank, Prince Albert ATTORNEYS Riaan Coetzee RELEVANT LEGISLATION Basic Conditions of Employment Act (Act no 75 of 1997) Collective Agreements Division of Revenue Act Electricity Act (Act no 41 of 1987) Employment Equity Act (Act no 55 of 1998) Housing Act (Act no 107 of 1997) Infrastructure Grants Municipal Budget and Reporting Regulations Municipal Finance Management Act (Act no 56 of 2003) Municipal Planning and Performance Management Regulations Municipal Property Rates Act (Act no 6 of 2004) Municipal Regulations on Standard Chart of Accounts Municipal Structures Act (Act no 117 of 1998) Municipal Systems Act (Act no 32 of 2000) Municipal Systems Amendment Act (Act no 7 of 2011) SALBC Leave Regulations Skills Development Levies Act (Act no 9 of 1999) Supply Chain Management Regulations, 2005 The Income Tax Act Unemployment Insurance Act (Act no 30 of 1966) Value Added Tax Act Water Services Act (Act no 108 of 1997) MEMBERS OF THE PRINCE ALBERT LOCAL MUNICIPALITY WARD COUNCILLOR Ward G. Lottering Ward M.D. Jaftha Ward E. Maans Ward L. Jaquet Proportional S. Piedt Proportional S. Botes Proportional R.M. Steyn PRINCE ALBERT LOCAL MUNICIPALITY STATEMENT OF FINANCIAL POSITION AT 30 JUNE 2019 Notes 2019 2018 Final Restated R R ASSETS Non-Current Assets 148 794 719 141 563 941 Property, Plant and Equipment 2 133 905 120 126 669 940 Investment Property 3 13 625 453 13 632 149 Intangible Assets 4 134 054 120 402 Heritage Assets 5 1 130 092 1 141 450 Current Assets 40 672 061 34 868 460.33 Inventory 7 568 795 715 375 Receivables from Exchange Transactions 8 2 117 721 1 731 584 Receivables from Non-exchange Transactions 9 1 378 533 1 432 077 Unpaid Transfers and Subsidies 17 59 096 1 895 217 Operating Lease Asset 6 69 196 41 199 Value Added Tax 18 3 394 448 3 638 916 Cash and Cash Equivalents 10 33 084 271 25 414 091 Total Assets 189 466 781 176 432 401 NET ASSETS AND LIABILITIES Non-Current Liabilities 27 401 752 25 341 350 Long-term Borrowings 11 - 4 750 Non-current Provisions 12 20 675 809 19 032 273 Non-current Employee Benefits 13 6 725 943 6 304 327 Current Liabilities 10 635 350 8 196 681 Consumer Deposits 14 479 350 447 761 Current Employee Benefits 15 1 950 656 2 144 228 Trade and Other Payables from Exchange Transactions 16 3 057 790 3 225 064 Unspent Transfers and Subsidies 17 5 142 804 2 318 472 Current Portion of Long-term Borrowings 11 4 750 61 155 Total Liabilities 38 037 103 33 538 031 Net Assets 151 429 679 142 894 368 Capital Replacement Reserve 19 9 500 000 13 160 543 Accumulated Surplus 141 929 679 129 733 826 Total Net Assets and Liabilities 189 466 781 176 432 401 7 1 74 7 75013 9 18 0 96-03363 6 2018Restated 50 796 42 3 274 86 3 165 94 108 91 40 745 63 23 890 86 10 725 78 5 00 3 585 51 2 538 47 6 775 92 263 83 6 512 09 25 674 86 21 203 15 266 16 486 69 2 588 27 573 25 261 96 295 35 76 471 28 Correction of Error 24 380 24 380 - 24 380 - - - - - - - - - - - - - - - - - - 24 380 19 2018 Reclassified 50 820 806 3 299 241 3 165 947 133 293 40 745 637 23 890 867 10 725 785 5 000 3 585 511 2 538 473 6 775 929 263 831 6 512 098 25 674 860 21 203 159 266 166 - 486 690 2 588 273 573 253 261 966 295 353 76 495 666 0 2 ENDED 30 JUNE Reclassification ito mSCOA - - - - - - - - - - - - - - - - - - - - - - - TY R L MUNICIPALI FOR THE YEA 2018Previous 50 820 806 3 299 241 3 165 947 133 293 40 745 637 23 890 867 10 725 785 5 000 3 585 511 2 538 473 6 775 929 263 831 6 512 098 25 674 860 21 203 159 266 166 - 486 690 2 588 273 573 253 261 966 295 353 76 495 666 A E C C CE ALBERT LO L PERFORMAN 2019R 47 646 141 3 430 556 3 430 556 - 37 748 567 25 475 064 8 942 324 - 3 331 179 - 6 467 018 59 331 6 407 687 28 094 982 23 159 507 330 615 - 500 091 2 834 918 835 907 281 783 152 160 75 741 123 N A RI CI P NAN Notes 20 2121225522 1323 2526 2728292430 FI F O T N E M E T A T S REVENUE Revenue from Non-exchange Transactions Taxation Revenue Property RatesSurcharges and Taxes Transfer Revenue Government Grants and Subsidies - OperatingGovernment Grants and Subsidies - CapitalPublic Contributions and DonationsService in kindContributed Property, Plant and Equipment Other Revenue Actuarial GainsFines, Penalties and Forfeits Revenue from Exchange Transactions Service ChargesRendering of Services Rent on LandRental from Fixed AssetsInterest Earned - External InvestmentsInterest Earned - Exchange TransactionsLicences and PermitsOperational Revenue Total Revenue 1526238105 1 5 4)3)2) 6 2018Restated 20 269 35 2 928 17 5 559 69 5 461 20 55 25 1 180 65 9 522 20 1 178 37 380 00 10 354 70 56 889 61 19 581 67 (8 657 61 (703 58 (1 227 59 8 992 88 Correction of Error - - - (1 856) - 22 556 - - - 29 763 50 463 74 843 - - - 74 843 2018 Reclassified 20 269 351 2 928 175 5 559 692 5 463 061 55 252 1 158 097 9 522 208 1 178 371 380 000 10 324 942 56 839 148 19 656 518 (8 657 614) (703 583) (1 227 592) 9 067 729 Reclassification ito mSCOA (68 340) - (1 590 459) - - - - - - 1 658 799 - - - - - - 1411278103 7 8 4)3)2) 9 9756590704 4 1 189 2 2018Previous 20 337 6 2 928 1 7 150 1 5 463 0 55 2 1 158 0 9 522 2 1 178 3 380 0 8 666 1 56 839 1 19 656 5 (8 657 6 (703 5 (1 227 5 9 067 7 7136272003 2 1 9)9)7 0 1489487287 1 1 472 1 4978244601 1 0 903 3 2019R 20 591 3 032 5 468 5 273 37 1 199 10 393 1 024 428 10 752 58 202 17 539 (8 861 (153 11 8 535 s ote 31323435133637383940 334243 N nt e m p ui esmentd eq eceivabld equipplant an Rny EXPENDITURE Employee related costsRemuneration of CouncillorsContracted ServicesDepreciation and AmortisationActuarial LossesFinance CostsBulk PurchasesInventory ConsumedTransfers and SubsidiesOperational Costs Total Expenditure Operating Surplus for the Year Contribution to Impairment Loss on Loss on Disposal of Property plant aImpairment Gain / (Loss) on Propert NET SURPLUS FOR THE YEAR PRINCE ALBERT LOCAL MUNICIPALITY STATEMENT OF CHANGES IN NET ASSETS FOR THE YEAR ENDED 30 JUNE 2019 Capital Replacement Accumulated Reserve Surplus Total R R R Balance at 1 July 2017 1 211 687 1 32 276 926 1 33 488 613 Effects of Correction of Errors - note 45 - (35 987) (35 987) Restated balance 1 211 687 1 32 240 939 1 33 452 626 Restated Net Surplus for the year - 8 992 886 8 992 886 Net Surplus previously reported - 9 067 729 9 067 729 Effects of Correction of Errors - note 45 - (74 843) (74 843) Transfer to/from CRR 1 1 500 000 (11 500 000) - Asset Disposals 4 48 856 - 4 48 856 Balance at 30 June 2018 1 3 160 543 1 29 733 826 1 42 894 368 Restated balance 1 3 160 543 1 29 733 826 1 42 894 368 Net Surplus for the year - 8 535 310 8 535 310 Transfer to/from CRR (3 660 543) 3 660 543 - Balance at 30 June 2019 9 500 000 1 41 929 679 1 51 429 679 PRINCE ALBERT LOCAL MUNICIPALITY CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2019 2019 2018 Notes R R CASH FLOW FROM OPERATING ACTIVITIES Cash receipts Ratepayers and Other 46 28 504 059 25 445 121 Government - Operating 26 184 288 23 890 867 Government - Capital 13 005 000 10 725 785 Interest 28 & 29 3 670 825 3 161 526 Cash payments Suppliers and Employees 46 (51 254 812) (54 164 891) Finance Charges 36 (9 969) (18 216) Transfers and subsidies 39 (428 080) (380 000) Net Cash from Operating Activities 46 19 671 312 8 660 192 CASH FLOW FROM INVESTING ACTIVITIES Purchase of Property, Plant and Equipment 2 (11 938 469) (11 031 198) Proceeds on Disposal of Property plant and equipment 2 - 448 856 Purchase of Intangible Assets 4 (33 094) (20 770) Net Cash from Investing Activities (11 971 563) (10 603 119) CASH FLOW FROM FINANCING ACTIVITIES Loans Repaid 11 (61 155) (69 296) Increase in Consumer Deposits 14 31 590 14 806 Net Cash from Financing Activities (29 566) (54 489) NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS 7 670 181 (1 997 418) Cash and Cash Equivalents at the beginning of the year 25 414 091 27 411 509 Cash and Cash Equivalents at the end of the year 10 33 084 272 25 414 091 NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS 7 670 181 (1 997 418)

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PRINCE ALBERT MUNICIPALITY AUDITED ANNUAL FINANCIAL STATEMENTS 30 JUNE 2019 PRINCE ALBERT LOCAL MUNICIPALITY Index Contents Page General Information 1 Approval of the Financial Statements 3 Statement of Financial Position 4 Statement of Financial Performance 5 Statement of Changes In Net Assets 7 Cash Flow Statement 8 Statement of Comparison of Budget and Actual Amounts - Statement of Financial Position 9 Statement of Comparison of Budget and Actual Amounts - Statement of Financial Performance 10 Statement of Comparison of Budget and Actual Amounts - Cash Flow Statement 11 Accounting Policies 12 - 50 Notes to the Financial Statements 51 - 91 APPENDICES A Schedule of External Loans 92 Disclosure of Grants and Subsidies In Terms of Section 123 of MFMA, B 56 of 2003 93 C National Treasury Appropriation Statements - Revenue and Expenditure (Standard Classification) 94 - Revenue and Expenditure (Municipal Vote Classification) 96 - Revenue and Expenditure (Revenue by Source and Expenditure by Type) 97 - Capital Expenditure by Vote, Standard Classification and Funding 99 - Cash Flows 101 D Deviations from Supply chain management policy 102 PRINCE ALBERT LOCAL MUNICIPALITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019 GENERAL INFORMATION NATURE OF BUSINESS PRINCE ALBERT Municipality is a local municipality performing the functions as set out in the Constitution. (Act no 105 of 1996) COUNTRY OF ORIGIN AND LEGAL FORM South AfricanCategoryBMunicipality(LocalMunicipality)asdefinedbytheMunicipalStructures Act. (Actno117 of 1998) JURISDICTION The PRINCE ALBERT Municipality includes the following areas: Prince Albert Klaarstroom Leeu Gamka EXECUTIVE MAYOR G. Lottering DEPUTY EXECUTIVE MAYOR L. Jaquet SPEAKER S. Botes MEMBERS OF THE EXECUTIVE COMMITTEE Executive Mayor G. Lottering Deputy Executive Mayor L. Jaquet Speaker S. Botes MUNICIPAL MANAGER Ms. A Vorster CHIEF FINANCIAL OFFICER Mr. J Neethling REGISTERED OFFICE 23 Church Street Prince Albert 6730 Private Bag X53 PRINCE ALBERT 6730 AUDITORS Office of the Auditor General (WC) PRINCE ALBERT LOCAL MUNICIPALITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019 GENERAL INFORMATION PRINCIPLE BANKERS ABSA Bank, Prince Albert ATTORNEYS Riaan Coetzee RELEVANT LEGISLATION Basic Conditions of Employment Act (Act no 75 of 1997) Collective Agreements Division of Revenue Act Electricity Act (Act no 41 of 1987) Employment Equity Act (Act no 55 of 1998) Housing Act (Act no 107 of 1997) Infrastructure Grants Municipal Budget and Reporting Regulations Municipal Finance Management Act (Act no 56 of 2003) Municipal Planning and Performance Management Regulations Municipal Property Rates Act (Act no 6 of 2004) Municipal Regulations on Standard Chart of Accounts Municipal Structures Act (Act no 117 of 1998) Municipal Systems Act (Act no 32 of 2000) Municipal Systems Amendment Act (Act no 7 of 2011) SALBC Leave Regulations Skills Development Levies Act (Act no 9 of 1999) Supply Chain Management Regulations, 2005 The Income Tax Act Unemployment Insurance Act (Act no 30 of 1966) Value Added Tax Act Water Services Act (Act no 108 of 1997) MEMBERS OF THE PRINCE ALBERT LOCAL MUNICIPALITY WARD COUNCILLOR Ward G. Lottering Ward M.D. Jaftha Ward E. Maans Ward L. Jaquet Proportional S. Piedt Proportional S. Botes Proportional R.M. Steyn PRINCE ALBERT LOCAL MUNICIPALITY STATEMENT OF FINANCIAL POSITION AT 30 JUNE 2019 Notes 2019 2018 Final Restated R R ASSETS Non-Current Assets 148 794 719 141 563 941 Property, Plant and Equipment 2 133 905 120 126 669 940 Investment Property 3 13 625 453 13 632 149 Intangible Assets 4 134 054 120 402 Heritage Assets 5 1 130 092 1 141 450 Current Assets 40 672 061 34 868 460.33 Inventory 7 568 795 715 375 Receivables from Exchange Transactions 8 2 117 721 1 731 584 Receivables from Non-exchange Transactions 9 1 378 533 1 432 077 Unpaid Transfers and Subsidies 17 59 096 1 895 217 Operating Lease Asset 6 69 196 41 199 Value Added Tax 18 3 394 448 3 638 916 Cash and Cash Equivalents 10 33 084 271 25 414 091 Total Assets 189 466 781 176 432 401 NET ASSETS AND LIABILITIES Non-Current Liabilities 27 401 752 25 341 350 Long-term Borrowings 11 - 4 750 Non-current Provisions 12 20 675 809 19 032 273 Non-current Employee Benefits 13 6 725 943 6 304 327 Current Liabilities 10 635 350 8 196 681 Consumer Deposits 14 479 350 447 761 Current Employee Benefits 15 1 950 656 2 144 228 Trade and Other Payables from Exchange Transactions 16 3 057 790 3 225 064 Unspent Transfers and Subsidies 17 5 142 804 2 318 472 Current Portion of Long-term Borrowings 11 4 750 61 155 Total Liabilities 38 037 103 33 538 031 Net Assets 151 429 679 142 894 368 Capital Replacement Reserve 19 9 500 000 13 160 543 Accumulated Surplus 141 929 679 129 733 826 Total Net Assets and Liabilities 189 466 781 176 432 401 7 1 74 7 75013 9 18 0 96-03363 6 2018Restated 50 796 42 3 274 86 3 165 94 108 91 40 745 63 23 890 86 10 725 78 5 00 3 585 51 2 538 47 6 775 92 263 83 6 512 09 25 674 86 21 203 15 266 16 486 69 2 588 27 573 25 261 96 295 35 76 471 28 Correction of Error 24 380 24 380 - 24 380 - - - - - - - - - - - - - - - - - - 24 380 19 2018 Reclassified 50 820 806 3 299 241 3 165 947 133 293 40 745 637 23 890 867 10 725 785 5 000 3 585 511 2 538 473 6 775 929 263 831 6 512 098 25 674 860 21 203 159 266 166 - 486 690 2 588 273 573 253 261 966 295 353 76 495 666 0 2 ENDED 30 JUNE Reclassification ito mSCOA - - - - - - - - - - - - - - - - - - - - - - - TY R L MUNICIPALI FOR THE YEA 2018Previous 50 820 806 3 299 241 3 165 947 133 293 40 745 637 23 890 867 10 725 785 5 000 3 585 511 2 538 473 6 775 929 263 831 6 512 098 25 674 860 21 203 159 266 166 - 486 690 2 588 273 573 253 261 966 295 353 76 495 666 A E C C CE ALBERT LO L PERFORMAN 2019R 47 646 141 3 430 556 3 430 556 - 37 748 567 25 475 064 8 942 324 - 3 331 179 - 6 467 018 59 331 6 407 687 28 094 982 23 159 507 330 615 - 500 091 2 834 918 835 907 281 783 152 160 75 741 123 N A RI CI P NAN Notes 20 2121225522 1323 2526 2728292430 FI F O T N E M E T A T S REVENUE Revenue from Non-exchange Transactions Taxation Revenue Property RatesSurcharges and Taxes Transfer Revenue Government Grants and Subsidies - OperatingGovernment Grants and Subsidies - CapitalPublic Contributions and DonationsService in kindContributed Property, Plant and Equipment Other Revenue Actuarial GainsFines, Penalties and Forfeits Revenue from Exchange Transactions Service ChargesRendering of Services Rent on LandRental from Fixed AssetsInterest Earned - External InvestmentsInterest Earned - Exchange TransactionsLicences and PermitsOperational Revenue Total Revenue 1526238105 1 5 4)3)2) 6 2018Restated 20 269 35 2 928 17 5 559 69 5 461 20 55 25 1 180 65 9 522 20 1 178 37 380 00 10 354 70 56 889 61 19 581 67 (8 657 61 (703 58 (1 227 59 8 992 88 Correction of Error - - - (1 856) - 22 556 - - - 29 763 50 463 74 843 - - - 74 843 2018 Reclassified 20 269 351 2 928 175 5 559 692 5 463 061 55 252 1 158 097 9 522 208 1 178 371 380 000 10 324 942 56 839 148 19 656 518 (8 657 614) (703 583) (1 227 592) 9 067 729 Reclassification ito mSCOA (68 340) - (1 590 459) - - - - - - 1 658 799 - - - - - - 1411278103 7 8 4)3)2) 9 9756590704 4 1 189 2 2018Previous 20 337 6 2 928 1 7 150 1 5 463 0 55 2 1 158 0 9 522 2 1 178 3 380 0 8 666 1 56 839 1 19 656 5 (8 657 6 (703 5 (1 227 5 9 067 7 7136272003 2 1 9)9)7 0 1489487287 1 1 472 1 4978244601 1 0 903 3 2019R 20 591 3 032 5 468 5 273 37 1 199 10 393 1 024 428 10 752 58 202 17 539 (8 861 (153 11 8 535 s ote 31323435133637383940 334243 N nt e m p ui esmentd eq eceivabld equipplant an Rny EXPENDITURE Employee related costsRemuneration of CouncillorsContracted ServicesDepreciation and AmortisationActuarial LossesFinance CostsBulk PurchasesInventory ConsumedTransfers and SubsidiesOperational Costs Total Expenditure Operating Surplus for the Year Contribution to Impairment Loss on Loss on Disposal of Property plant aImpairment Gain / (Loss) on Propert NET SURPLUS FOR THE YEAR PRINCE ALBERT LOCAL MUNICIPALITY STATEMENT OF CHANGES IN NET ASSETS FOR THE YEAR ENDED 30 JUNE 2019 Capital Replacement Accumulated Reserve Surplus Total R R R Balance at 1 July 2017 1 211 687 1 32 276 926 1 33 488 613 Effects of Correction of Errors - note 45 - (35 987) (35 987) Restated balance 1 211 687 1 32 240 939 1 33 452 626 Restated Net Surplus for the year - 8 992 886 8 992 886 Net Surplus previously reported - 9 067 729 9 067 729 Effects of Correction of Errors - note 45 - (74 843) (74 843) Transfer to/from CRR 1 1 500 000 (11 500 000) - Asset Disposals 4 48 856 - 4 48 856 Balance at 30 June 2018 1 3 160 543 1 29 733 826 1 42 894 368 Restated balance 1 3 160 543 1 29 733 826 1 42 894 368 Net Surplus for the year - 8 535 310 8 535 310 Transfer to/from CRR (3 660 543) 3 660 543 - Balance at 30 June 2019 9 500 000 1 41 929 679 1 51 429 679 PRINCE ALBERT LOCAL MUNICIPALITY CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2019 2019 2018 Notes R R CASH FLOW FROM OPERATING ACTIVITIES Cash receipts Ratepayers and Other 46 28 504 059 25 445 121 Government - Operating 26 184 288 23 890 867 Government - Capital 13 005 000 10 725 785 Interest 28 & 29 3 670 825 3 161 526 Cash payments Suppliers and Employees 46 (51 254 812) (54 164 891) Finance Charges 36 (9 969) (18 216) Transfers and subsidies 39 (428 080) (380 000) Net Cash from Operating Activities 46 19 671 312 8 660 192 CASH FLOW FROM INVESTING ACTIVITIES Purchase of Property, Plant and Equipment 2 (11 938 469) (11 031 198) Proceeds on Disposal of Property plant and equipment 2 - 448 856 Purchase of Intangible Assets 4 (33 094) (20 770) Net Cash from Investing Activities (11 971 563) (10 603 119) CASH FLOW FROM FINANCING ACTIVITIES Loans Repaid 11 (61 155) (69 296) Increase in Consumer Deposits 14 31 590 14 806 Net Cash from Financing Activities (29 566) (54 489) NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS 7 670 181 (1 997 418) Cash and Cash Equivalents at the beginning of the year 25 414 091 27 411 509 Cash and Cash Equivalents at the end of the year 10 33 084 272 25 414 091 NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS 7 670 181 (1 997 418)

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