Page 46 - UNAM Annual Report 2017

Expenditure
year, government subvention for operational
year, government subvention for operational Expenditure
expenses amounted to N$1,081 billion (2016:
expenses amounted to N$1,081 billion (2016: The total expenditure for the year under
The total expenditure for the year under
N$904 million), which represents a 19.5%
N$904 million), which represents a 19.5% review amounted to N$1,680 billion (2016:
review amounted to N$1,680 billion (2016:
increase over 2016. It is also necessary to N$1,573 billion). Employment costs amounted
increase over 2016. It is also necessary to
N$1,573 billion). Employment costs amounted
mention that student fee resources and to N$1,138 billion (2016: N$1,052 billion),
mention that student fee resources and
to N$1,138 billion (2016: N$1,052 billion),
charges of the University increased to N$543,5 excluding the movement in provisions for post-
charges of the University increased to N$543,5
excluding the movement in provisions for post-
million, which represents a 16.3% growth over retirement benefits, and accounted for 68% of
million, which represents a 16.3% growth over
retirement benefits, and accounted for 68% of
2016. This increase resulted from an increase
2016. This increase resulted from an increase total expenditure (2016: 67%) and 67% of total
total expenditure (2016: 67%) and 67% of total
in fees of 7.5%, as well as the introduction
in fees of 7.5%, as well as the introduction revenue (2016: 73%). Employment costs will
revenue (2016: 73%). Employment costs will
of new courses. Some revenue sources that always remain the main expenditure category,
always remain the main expenditure category,
of new courses. Some revenue sources that
contributed to this increase include tuition due to the nature of the University‘s operations.
contributed to this increase include tuition
due to the nature of the University‘s operations.
fees, accommodation fees and registration Administration and other costs amounted to
Administration and other costs amounted to
fees, accommodation fees and registration
fees. The total income for the year under N$543 million (2016: N$522), which represents
fees. The total income for the year under
N$543 million (2016: N$522), which represents
review amounted to N$1,706 billion, compared
review amounted to N$1,706 billion, compared 32% (2016: 33%) of the total expenditure.
32% (2016: 33%) of the total expenditure.
to N$1,448 billion for the 2016 financial year. including depreciation and provisions.
including depreciation and provisions.
to N$1,448 billion for the 2016 financial year.
Revenue and Expenditure Statement for the Year ended 31 December 2017
2017 (N$’000) 2016 (N$’000)
REVENUE 1,706,044 1,447,568
Subsidies 1,080,685 904,113
Tuition fees 477,556 409,968
Hostel fees 39,779 34,622
Meal fees 26,118 22,586
Deferred income released 45,612 45,806
Other income 3,629 30,473

EXPENDITURE 1,602,437 1,602,437

Personnel costs 1,137,533 1,052,370

Retirement benefits obligation 85,263 72,158

Administrative costs 329,355 375,028

Depreciation, amortisation and impairments 128,174 74,693

Financing costs 2,735 2,053
Fair value adjustments (1,912) (15)

Remeasurement on defined benefit liability and (80,422) 26,150
severance pay

Surplus/(Deficit) for the year 105,318 (154,869)

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