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FASSET | Annual Integrated Report 2022/23

Raymond Mulovhedzi
Financial Manager

Revenue has been higher than expected in
the fourth quarter with the actual received
14,1% revenue of
R 762 Million

being 14,1% higher than budget.

The total grant expenditure
for the 2022/23 financial period The commitment balance
was as at the end of the financial
R548 Million R726 Million
period is

As a result, the net surplus for
the period is R 136 Million. which is 90% of the current
accumulated surplus.

Asset balances,
R 1010 Million of which Unqualified audit with no
R1002 Million material adjustments
(Clean audit) for
Highlights
is bank and cash balances. 2 consecutive years.

R207 Million

liabilities recognised at the
end of the financial period.

Make the future count.
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