Report of the ACTING Chief Financial Officer

Private & Confidential

NELSONMANDELABAYMUNICIPALITY

CYCLE No. 6 / 2013

Report of the ACTING Chief Financial Officer

TO THE

BUDGET and TREASURY COMMITTEE

MEETING DATE:6 AUGUST 2013 postponed to 22 August

1.FINANCIAL REPORT FOR THE PERIOD JULY 2012TO JUNE 2013(MONTHLY BUDGET STATEMENT) AND THEASSESSMENT OF THE MUNICIPALITY’S FINANCIAL POSITION AS AT 30 JUNE 2013 (2012/13 FINANCIAL YEAR)

1.1PURPOSE

The purpose of thisreport is to assess the financial performance and financial position of the Municipality and its consequential impact on the implementation of the approved 2012/13Adjustments Budget. This report presents a preliminary assessment of the municipality’s financial position as at 30 June 2013, as the 2012/13 financial statements are in the process of being prepared.

1.2LEGISLATIVE REQUIREMENTS

The Municipality is required to assess on an ongoing basis whether it collects sufficient revenue to meet its commitments, such as paying Employees, Councillors, Eskom, Department of Water Affairs, service providers, etc. In accordance with Section 71 of the MFMA, the Accounting Officer is required to submit to the National and Provincial Treasuries a monthly statement on the state of the municipality’s budget.

1.3EXECUTIVE SUMMARY

This report provides a balanced and consolidated financial performance overview to assist the Committee in its oversight role.

An analysis of the financial position and performance was undertaken to determine the relative financial strength and liquidity of the Municipality. In order to provide a comprehensive analysis it was necessary to compare the Budget, the General Ledger and the actual cash inflows and outflows of the Municipality, thereby determining relationships and the associated spending and income trends experienced for the period July 2012 toJune 2013. The aforementioned was complemented by analysing the cash flow position, the investment portfolio, ratios, the operating and capital budget performance for the period July 2012 to June 2013, so as to facilitate an informed assessment of the relative liquidity and financial position of the Municipality.

The financial performance highlights based on preliminary results are as follows:

• Operating revenue amounted to R6.97 billion, whilst operating expenditure amounted to R7.39billion, resulting in an operating deficit of R415.7 million.
• Capital expenditure constituted 85.2% of the approved adjustments budget.
• Overdue consumer debts increased by R371.1million (29.6%) since June 2012.
• An amount of R808, 4million is owing to creditors, of whichR782, 4 million (96.8%) represents current creditors.
• The municipality’s investment portfolio has increased byR306, 1million (26.2%) since 30 June 2012 from R1, 170billion to R1, 476billion.

In line with the Financial Recovery Plan the following financial ratios are monitored on an ongoing basis:

Ratio / Actual as at June 2010 / Actual as
at June2011 / Actual as at June 2012 / Actual as at
May 2013 / Actual as at
June2013 / Targets
Current Ratio / 0.95:1 / 0.77 / 0.94 / 1.32:1 / 1.36:1 / 1.02:1
Liquidity Ratio / 0.30:1 / 0.26:1 / 0.54:1 / 0.78:1 / 0.76:1 / 0.46:1
Average Debtors’ Collection Rate / 93.75% / 96.6% / 94.56% / 93.12% / 92.60% / 95.00%
Creditors’ payment Rate / 33 days / 32 days / 31 days / 29 days / 31 days / 30 days
Cost Coverage (including unspent conditional grants) / 1 month / 1 month / 1.89 months / 2.67 months / 2.37 months / 1 month
Cost Coverage (excluding unspent conditional grants) / 0.71 months / 0.27 months / 0.78 months / 1.35 months / 1.37 month / 1 month
Debt servicing costs to Operating Revenue Ratio / 0.032:1 / 0.046:1 / 0.043:1 / 0.036:1 / 0.036:1 / 0.04:1

The aforementioned ratios generally reflect an improvement since the position as at 30 June 2010. Upon discounting the unspent conditional grants, the cost coverage ratio would be1.37 months (41.1 days)

To achieve and maintain a sound financial position, the Municipality must continue to ensure that strict financial discipline is exercised and that expenditure does not exceed the approved Budget.

In order to further strengthen the Municipality’s cash position, the following strategies are being implemented:

• Ongoing implementation of the Municipality’s Operational Efficiencies Work Plan
• Debt Relief Programme is being implemented
• Disposal of serviced land
• Housing Revolving Fund Management
• Cash Flow Forecasting & Cash Flow monitoring against forecast
• Dedicated attention to managing available cash flows effectively
• Cash Management – Payment of Creditors

The following matters must also be addressed:

• Recovery of the amount of approximately R27.8 million as at 30 June 2013 owing to the Municipality by the KougaMunicipality;
• The Human Settlements Directorate to implement the necessary control measures to ensure that bridge-funding via the Housing Revolving Fund remains within the determined threshold of R100 million. As at 30 June 2013 the funding was at R130.5million.

The Municipality has addressed a letter to National Treasury requesting assistance in resolving the current impasse regarding the outstanding amount owed by the KougaMunicipality for the purchase of raw water. A number of attempts have been made to arrange meetings with the KougaMunicipality in this regard,in pursuit of addressing the matter. The last meeting that was scheduled to take place on 14 June 2013 was cancelled by the EC Prov Govt at the last moment.

The Human Settlements Directorate has been unable to maintain the bridge-funding, via the Housing Revolving Fund within the R100 million threshold. The Directorate should devote more resources to resolving the blocked housing projects to ensure that the Provincial Government reimburses the Municipality for the expenses already incurred.

At the Budget and Treasury Committee meeting held on 12 April 2013, the following recommendations, relating to the Housing Revolving Fund, were adopted:

(i)That the Acting Executive Director: Human Settlements submits as a matter of urgency to the City Manager, a comprehensive strategy with associated timeframes, to deal with each of the problem areas as identified in the Acting Chief Financial Officer’s report to the Budget & Treasury Committee dated 12 April 2013;

(ii)The Acting Executive Director: Human Settlements report on a monthly basis to the City Manager, on progress made with implementation in terms of the strategy referred to in (i) above.

(ii)The City Manager not accede to any further requests to increase the housing revolving fund threshold, until such time as the aforementioned strategy is implemented.

In relation to the aforementioned recommendations, the Mayoral Committee resolved, inter alia, that:-

(a)consideration of this item be deferred pending the submission of a report by Internal Audit thereon

(b)it be noted that the Human Settlements Directorate had extended an invitation to their Provincial counterparts with a view to finding a holistic payment approach in respect of housing projects handled by the Municipality.

Continuous improvement in the debtors’ collection rate is regarded as crucial. In this regard as part of the Revenue Enhancement Strategy, a plan has been compiled to deal with long outstanding debts and the continued growth in outstanding debts. Other revenue sources such as fines, rentals charged for properties, etc must be reviewed and maximised.

The B&T Committee proposed that a Multi-Disciplinary Revenue Enhancement Task Team chaired by the Municipal Manager be set up. Inputs were requested from various EDs in Oct 2012 with no response. The Task Team members are comprised of the members of the Councils Management Team (ExCo). The Revenue Enhancement Program has not appeared on the agenda of the Management Team for discussion despite being sent to the City Manager.for inclusion in the agenda.

In order to ensure the ongoing financial sustainability of the Municipality as well as growth in the reserves, it is considered important that the cost coverage ratio exceeds the target of 1 month as set in the IDP. In this regard the municipality is required to develop a long-term financial strategy to address issues, such as the appropriate cash backing of reserves, replenishment of the Capital Replacement Reserve and long-term financial planning.

In pursuit of achieving the above a multi-Directorate Task has been established consisting ofthe B&T Directorate together with the Directorates from Infrastructure and Engineering, Electricity & Energy, Human Settlements and Public Health. Two meetings of the Task Team have been convened where matters of strategic modelling were discussed. Baseline information has been agreed upon in order to ensure a common platform for service delivery.

In view of the aforementioned, it was concluded that the Municipality will have to improve its debtors’ collection rate, in order to further strengthen its financial position. As part of the municipality’s revenue enhancement initiatives all revenue sources such as fines, rentals charged for properties, etc. must be maximized to the fullest extent possible. The cost coverage ratio (excluding unspent conditional grants) requires close monitoring, scrutiny and improvement as the available investments only cover 1.37 months’ operating and capital expenses.

1.4OVERVIEW OF OPERATING REVENUE AND EXPENDITURE PERFORMANCE FOR THE PERIOD JULY 2012TO JUNE 2013

Below is an analysis of the operating revenue and expenditure performance compared to the 2012/13approved operating adjustments budget, based on preliminary results at 30 June 2013.

Adjustments Budget R'000 / Actual for the year R'000 / % of Budget
OPERATING REVENUE
Property Rates / 1,074,628 / 1,103,654 / 102.7
Service Charges / 3,883,230 / 3,824,952 / 98.5
Rent of Facilities and Equipment / 21,008 / 16,136 / 76.8
Interest Earned – External Investments / 43,584 / 59,902 / 137.4
Interest Earned – Outstanding Debtors / 144,637 / 174,120 / 120.4
Fines / 33,810 / 23,050 / 68.2
Licenses and Permits / 9,806 / 10,263 / 104.7
Income for Agency Services / 1,400 / 1,908 / 136.3
Grants & Subsidies Received - Operating / 1,440,853 / 1,113,345 / 77.3
Other Revenue / 680,501 / 646,647 / 95.0
Total Direct Operating Revenue / 7,333,457 / 6,973,977 / 95,1
OPERATING EXPENDITURE
Employee Related Costs / 1,801,951 / 1,778,363 / 98.7
Remuneration of Councillors / 53,220 / 53,149 / 99.9
Bad Debts / 247,907 / 547,974 / 221.0
Depreciation / 894,004 / 788,869 / 88.2
Repairs and Maintenance – Municipal Assets / 501,058 / 468,519 / 93.5
Interest Expense – External Borrowings / 204,213 / 152,245 / 74.6
Bulk Purchases / 2,233,939 / 2,175,785 / 97.4
Contracted Services / 369,622 / 290,933 / 78.7
Grants & Subsidies Paid / 338,848 / 328,565 / 96.9
General Expenses – Other / 874,035 / 717,155 / 82.1
Loss on disposal of PPE / 87,891
Total Direct Operating Expenditure / 7,518,798 / 7,389,448 / 98.3
Operating Surplus / (Deficit) / (185,341) / (415,471)

Below is a discussion of the significant revenue and expenditure variations:

The statement of financial performance indicates a deficit of approximately R 415, 4 million. It is, however, not fully represented in cash due to the accrual basis of accounting. The statement of financial performance should not be viewed in isolation from the cashflow statement and the cashflow forecast as discussed in Section 1.6 of this report.

Revenue Variations:

Rental of facilities

In order to enhance the income derived from this revenue source market related rentals must be charged relating to all Council’s properties. A report in this regard must still be considered by the Management Team.

Interest Earned – External Investments

Interest earnings are influenced by the extent of the municipality’s investment portfolio. The increase in the investment portfolio must also be linked to the spending of the grant funding (conditional / non-conditional).

Interest Earned – Outstanding Debtors

Interest is influenced by the extent of outstanding debtors.

Fines

The revenue from traffic fines for the period July 2012 to June2013 of R19.9 million is below the projected level of R30.5million and the shortfall as at 30 June 2013 was R10.6 million in respect of Traffic Fines. It is evident that the collection of fines requires improved effort by the Safety and Security Directorate. In this regard, Council resolved on 7 June 2013 that: -

The Acting Executive Director: Safety and Security develop and report on a strategy by 30 June 3013 to collect outstanding traffic fines, for implementation in the 2013/14 financial year.

Grants and Subsidies Received

The shortfall in subsidy is mainly attributable to the budgeted Housing Top Structures not being received in full. Claims have been submitted to the EC Prov Govt which have not yet been paid and final accrual entries must still be processed.

Expenditure Variations:

Interest Expense – External Borrowings

The interest expense is in line with the Municipality’s loan repayment obligations.

Bad Debts

Bad debts are written off upon Council’s approval. The Provision for Bad Debts has increased substantially due to the increasing outstanding debtors balance.

Repairs and Maintenance

Repairs and maintenance of assets are undertaken on an ongoing basis.

Below is an analysis of actual repairs and maintenance expenditure by Directorate based on preliminary results, compared to the adjustments budget.

Directorate / Adjustment Budget / Actual as at 30 June 2013 / % of Budget
Budget & Treasury / 1,601,760 / 1,005,914 / 62.80
Public Health / 5,109,840 / 3,945,965 / 77.22
Human Settlements / 1,747,050 / 1,289,795 / 73.83
Economic Development & Recreational Services / 17,199,050 / 12,628,202 / 73.42
Corporate Services / 25,087,210 / 19,239,558 / 76.69
Rate and General: Infrastructure & Engineering / 137,840,910 / 133,602,588 / 96.93
Water Services / 127,815,020 / 125,683,005 / 98.33
Sanitation Services / 128,294,110 / 120,164,062 / 93.66
Electricity and Energy / 41,966,130 / 38,948,851 / 92.81
Executive and Council / 2,548,530 / 2,401,323 / 94.22
Safety and Security / 9,668,980 / 8,081,562 / 83.58
Strategic Programmes Directorate / 2,179,150 / 1,528,611 / 70.15
Total / 501,057,740 / 468,519,436 / 93.51

1.4.1Electricity losses

Council resolved on 7 June 2013 that: the Acting Executive Director: Electricity and Energy develop and report on a strategy by 30 June 2013 to reduce electricity losses by at least 5% from 15% to 10%, for implementation in the 2013/14 financial year, so as to achieve a minimum reduction of R100 million in bulk electricity purchases.

The losses as a percentage of sales have increased in the past few years from 7% to 15 %. These losses comprise both technical and non technical losses. The non technical losses have seen the biggest increase due to the theft of electricity. The Directorate has advertised a “Request for Proposals” to assist it in reducing the non-technical losses. The tender closed in mid July 2013 and the proposals are currently been evaluated. It is expected that the tender report will be submitted to the Bid Evaluation Committee by mid August 2013.

1.4.2Water losses

Council resolved on 7 June 2013 the Acting Executive Director: Infrastructure and Engineering develop and report on a strategy by 30 June 2013 to reduce water losses, indicating the funding requirements and the potential associated benefits.

A report from the Infrastructure and Engineering Directorate was included as Annexure A in the B&T Standing Committee Agenda of 21 June 2013.

1.5CAPITAL BUDGET PERFORMANCE

Below is an analysis of the capital expenditure based on the preliminary financial results compared to the approved 2012/13CapitalAdjustments Budget.

Org Code / Org Name / Adjustments Budget 'R000 / Actual 'R000 / % Spent of Budget
0384 / Rate and General – Infrastructure and Engineering / 537,163 / 384,353 / 71.6
1191 / Human Settlements / 137,868 / 153,330 / 111.2
1193 / Public Health / 29,880 / 14,472 / 48.4
1195 / Safety and Security / 3,000 / 2,810 / 93.7
1197 / Corporate Services / 20,450 / 19,365 / 94.7
1198 / Budget & Treasury / 4,080 / 1,966 / 48.2
1411 / Sanitation / 206,800 / 186,446 / 90.2
1412 / Water Service / 258,602 / 267,445 / 103.4
1477 / Electricity & Energy / 125,177 / 123,654 / 98.8
1656 / Chief Operating Officer / 12,100 / 11,851 / 97.9
1666 / 1196 / Special Projects and Programmes / 38,780 / 38,881 / 110.3
1673 / 1194 / Economic Development and Recreational Services / 126,504 / 73,901 / 58.3
Total / 1,500,404 / 1,278,475 / 85.2
Source of Funding / Adjustments Budget 'R000 / Actual 'R000 / % of Budget
Internally Generated Funding (CRR, Fuel Levy & E-Share) / 386,138 / 315,507 / 81.7
Public Contributions / 27,234 / 25,669 / 97.9
Government Grants / 1,087,032 / 937,169 / 86.2
Total / 1,500,404 / 1,278,475 / 85.2

An amount of R1.03 billion has been spent as at 30June 2013, compared to the approved adjustments budget of R1.50billion. This represents a spending performance of 85.2% in relation to the Capital Adjustments budget. Expenditure accruals must still be processed which will further improve the spending performance. It must be noted that the original capital budget for 2012/2013 approved by Council was only R1.08 billion.

1.6PROJECTED CASH FLOW STATEMENTFOR THE 2012/13 FINANCIAL YEAR

Projected Cash Flow Statement as at 30June 2013

The purpose of the cash flow statement is to compare the cash inflows (receipts) with the cash outflows (payments), so as to ascertain the adequacy of the cash inflows to cover the cash outflows.

Table C7 Monthly Budget Statement - Cash Flow - M012June 2013

Description
R thousands / 2011/12 / Budget Year 2012/13
Audited Outcome / Original Budget / Adjusted Budget / Monthly actual / YearTD actual / YearTD budget / YTD variance / YTD variance % / Full Year Forecast
CASH FLOW FROM OPERATING ACTIVITIES
Receipts
Ratepayers and other / 5,155,329 / 5,197,167 / 5,140,204 / 407,358 / 5,788,384 / 5,140,204 / 648,180 / 13% / 5,140,204
Government - operating / 1,254,768 / 1,356,926 / 1,433,227 / 13,482 / 1,320,059 / 1,433,227 / (113,168) / -8% / 1,433,227
Government - capital / 1,192,855 / 771,932 / 782,932 / 784,984 / 782,932 / 2,052 / 0% / 782,932
Interest / 180,358 / 27,328 / 43,584 / 5,420 / 65,394 / 43,584 / 21,810 / 50% / 43,584
Dividends / –
Payments
Suppliers and employees / (5,648,044) / (5,714,573) / (5,758,937) / (493,874) / (6,360,923) / (5,758,937) / 601,986 / -10% / (5,758,937)
Finance charges / (201,297) / (205,419) / (214,732) / (204,547) / (214,732) / (10,185) / 5% / (214,732)
Transfers and Grants / (22,368) / (22,728) / (22,628) / (1,216) / (15,118) / (22,628) / (7,510) / 33% / (22,628)
NET CASH FROM/(USED) OPERATING ACTIVITIES / 1,911,602 / 1,410,633 / 1,403,651 / (68,831) / 1,378,233 / 1,403,651 / (25,418) / -2% / 1,403,651
CASH FLOWS FROM INVESTING ACTIVITIES
Receipts
Proceeds on disposal of PPE / –
Decrease (Increase) in non-
current debtors / –
Decrease (increase) other non-
current receivables / 19,777 / 13,315 / 13,315 / (13,315) / -100% / 13,315
Decrease (increase) in non-
current investments / –
Payments
Capital assets / (1,191,440) / (1,115,084) / (1,456,987) / (111,076) / (925,184) / (1,456,987) / (531,803) / 37% / (1,456,987)
NET CASH FROM/(USED) INVESTING ACTIVITIES / (1,171,663) / (1,115,084) / (1,443,672) / (111,076) / (925,184) / (1,443,672) / (518,488) / 36% / (1,443,672)
CASH FLOWS FROM FINANCING ACTIVITIES
Receipts
Short term loans / –
Borrowing long term/refinancing / –
Increase (decrease) in consumer
deposits / (3,275) / (3,500) / (3,500) / 3,500 / -100% / (3,500)
Payments
Repayment of borrowing / (77,058) / (97,444) / (112,444) / (97,175) / (112,444) / (15,269) / 14% / (112,444)
NET CASH FROM/(USED) FINANCING ACTIVITIES / (77,058) / (100,719) / (115,944) / – / (97,175) / (115,944) / (18,769) / 16% / (115,944)
NET INCREASE/ (DECREASE) IN CASH HELD / 662,880 / 194,830 / (155,965) / (179,906) / 355,874 / (155,965) / (155,965)
Cash/cash equivalents at
beginning: / 507,590 / 817,065 / 1,170,470 / 1,170,470 / 817,065 / 1,170,470
Cash/cash equivalents at
month/year end: / 1,170,470 / 1,011,895 / 1,014,505 / 1,526,344 / 661,100 / 1,014,505

1.7CONSOLIDATED BUDGET TABLES

1.7.1Monthly Budget Tables

The seven main budget tables, as required in terms of the Municipal Budget and Reporting Regulations, are included in this section of the report. These tables set out the Municipality’s preliminary 2012/13 budget performance for the period July 2012toJune 2013 and are to be noted by Council. Each table is accompanied by explanatory notes.

Table C1 Consolidated Monthly Budget Statement Summary - M012June 2013

Description
R thousands / 2011/12 / Budget Year 2012/13
Audited Outcome / Original Budget / Adjusted Budget / Monthly actual / YearTD actual / YearTD budget / YTD variance / YTD variance / Full Year Forecast
Financial Performance
Property rates / 929,517 / 1,074,628 / 1,074,628 / 131,952 / 1,103,654 / 1,074,628 / 29,026 / 3% / 1,074,628
Service charges / 3,490,744 / 3,951,039 / 3,883,229 / 370,641 / 3,824,952 / 3,883,229 / (58,278) / -2% / 3,883,229
Investment revenue / 59,060 / 27,328 / 43,584 / 5,370 / 59,902 / 43,584 / 16,317 / 37% / 188,222
Transfers recognised - operational / 1,218,769 / 1,361,248 / 1,440,853 / 53,106 / 1,113,345 / 1,440,853 / (327,508) / -23% / 1,440,853
Other own revenue / 993,174 / 832,509 / 891,162 / 46,980 / 872,125 / 891,162 / (19,037) / -2% / 746,525
Total Revenue (excluding capital transfers and contributions) / 6,691,265 / 7,246,752 / 7,333,457 / 608,049 / 6,973,977 / 7,333,457 / (359,480) / -5% / 7,333,457
Employee costs / 1,858,809 / 1,800,625 / 1,801,951 / 238,304 / 1,778,363 / 1,801,951 / (23,588) / -1% / 1,801,951
Remuneration of Councillors / 49,919 / 54,583 / 53,220 / 4,402 / 53,149 / 53,220 / (71) / -0% / 53,220
Depreciation & asset impairment / 869,243 / 736,327 / 894,004 / 74,503 / 788,869 / 894,004 / (105,135) / -12% / 894,004
Finance charges / 213,160 / 203,317 / 204,213 / 7,948 / 152,245 / 204,213 / (51,968) / -25% / 204,213
Materials and bulk purchases / 2,405,741 / 2,747,755 / 2,734,997 / 488,161 / 2,644,304 / 2,734,997 / (90,694) / -3% / 2,734,997
Transfers and grants / 285,916 / 345,775 / 338,848 / 50,745 / 328,565 / 338,848 / (10,283) / 338,848
Other expenditure / 1,360,746 / 1,427,714 / 1,491,565 / 632,908 / 1,643,953 / 1,491,565 / 152,388 / 10% / 1,491,565
Total Expenditure / 7,043,534 / 7,316,096 / 7,518,798 / 1,496,972 / 7,389,448 / 7,518,798 / (129,350) / -2% / 7,518,798
Surplus/(Deficit) / (352,269) / (69,344) / (185,341) / (888,923) / (415,471) / (185,341) / (230,130) / 124% / (185,341)
Transfers recognised - capital / 915,672 / 774,932 / 1,070,632 / 327,798 / 937,169 / 1,070,632 / (133,463) / -12% / 1,070,632
Contributions & Contributed assets / – / – / – / – / – / – / – / –
Surplus/(Deficit) after capital transfers & contributions / 563,403 / 705,588 / 885,291 / (561,124) / 521,698 / 885,291 / (363,593) / -41% / 885,291
Share of surplus/ (deficit) of associate / – / – / – / – / – / – / – / –
Surplus/ (Deficit) for the year / 563,403 / 705,588 / 885,291 / (561,124) / 521,698 / 885,291 / (363,593) / -41% / 885,291
Capital expenditure & funds sources
Capital expenditure / 1,097,228 / 1,079,076 / 1,500,404 / 429,747 / 1,278,344 / 1,500,404 / (222,059) / -15% / 1,500,404
Capital transfers recognised / 903,027 / 774,932 / 1,087,032 / 327,798 / 937,169 / 1,087,032 / (149,863) / -14% / 1,087,032
Public contributions & donations / 10,157 / 23,000 / 27,234 / 4,005 / 25,669 / 27,234 / (1,565) / -6% / 27,234
Borrowing / – / – / – / – / – / – / – / –
Internally generated funds / 184,044 / 281,144 / 386,138 / 97,944 / 315,507 / 386,138 / (70,631) / -18% / 386,138
Total sources of capital funds / 1,097,228 / 1,079,076 / 1,500,404 / 429,747 / 1,278,344 / 1,500,404 / (222,059) / -15% / 1,500,404
Financial position
Total current assets / 2,111,715 / 2,194,699 / 2,033,640 / 2,641,252 / 2,033,640
Total non current assets / 12,795,629 / 13,407,513 / 13,140,089 / 12,930,371 / 13,140,089
Total current liabilities / 2,238,383 / 2,157,536 / 1,985,531 / 1,945,049 / 1,985,531
Total non current liabilities / 3,184,901 / 3,040,479 / 3,068,705 / 3,068,705 / 3,068,705
Community wealth/Equity / 9,484,060 / 10,404,198 / 10,119,494 / 10,175,967 / 10,119,494
Cash flows
Net cash from (used) operating / 1,911,602 / 1,410,633 / 1,403,651 / (68,831) / 1,378,233 / 1,403,651 / (25,418) / -2% / 1,403,651
Net cash from (used) investing / (1,171,663) / (1,115,084) / (1,443,672) / (111,076) / (925,184) / (1,443,672) / 518,488 / -36% / (1,443,672)
Net cash from (used) financing / (77,058) / (100,719) / (115,944) / – / (97,175) / (115,944) / 18,769 / -16% / (115,944)
Cash/cash equivalents at the month/year end / 1,170,470 / 1,011,895 / 1,014,505 / – / 1,526,344 / 661,100 / 865,244 / 131% / 1,014,505
Debtors & creditors analysis / 0-30 Days / 31-60 Days / 61-90 Days / 91-120 Days / 121-150 Dys / 151-180 Dys / 181 Dys-1 Yr / Over 1Yr / Total
Debtors Age Analysis
Total By Revenue Source / 356,085 / 113,532 / 63,414 / 1,446,149 / – / – / – / – / 1,979,180
Creditors Age Analysis
Total Creditors / 861 / 17 / 5 / 4 / – / – / – / – / 887

Explanatory notes to Table C1 –Monthly Budget Summary

The aim of the Budget Summary is to provide a concise overview of the actual budget performance from all of the major financial perspectives (operating expenditure, capital expenditure, financial position, cash flow, and MFMA funding compliance). The table provides an overview of the actual amounts spent compared to the monthly budget projections within the context of operating performance, resources utilised for capital expenditure, financial position, cash and funding compliance.