Page 131 - TKZN Annual Report 2023/2024

KWAZULU-NATAL TOURISM AUTHORITY
Trading as Tourism KwaZulu-Natal
Annual Financial Statements for the year ended 31 March 2024
Notes to the Annual Financial Statements
18. Corporate Services
Advertising
Employee wellness costs Consultants and professional fees Bank charges
Travel and accomodation costs Employee costs
Lease rentals
Printing and stationery
Training
Audit fees
Foreign exchange losses
General and administrative expenses Depreciation and amortisation costs Debt impairment
Penalties*
*Penalties incurred during the period under review, have been added and disclosed in the fruitless and wasteful expenditure note.
Employee Costs
The employee costs for the organisation are not separately disclosed on the face of the statement of financial perfomance, and are individually disclosed in the respective departments. Below is a disclosure for the entire organisation:
Employee costs for the respective departments
Office of the CEO
Tourism Development
Tourism Development
Marketing Department
Public relations and Communications Convention Bureau
Corporate services
Other long-term benefits
Other long-term benefits are employee benefits (other than post-retirement benefits) that are not due to be settled within 12 months after the end of the period in which employees render related service. It is the entity’s policy that each employee will receive R5 000 after 10 consecutive years of employment, R7 500 after 15 consecutive years of employment and R10 000 after 20 consecutive years of employment.
Included in employee costs is an accrued long service liability Long sevice liability
Termination benefits
Termination benefits are recognised and expensed when the payment is made.
Figures in Rand
2024 R ‘000
2023 R ‘000
13 672
6 558
48
27
423
547
1 522
402
2 446
988
2
112
12 826
6 553
271
450
1 592
1 637
1 115
61
-
107
6 950
4 739
3 423
13 672
6 298
4 268
3 794
12 826
-
29 282
26 054
5 366
17 017
6 096
4 765
15 300
5 793
57 263
53 044
362
369
TOURISM KWAZULU-NATAL ANNUAL REPORT 2023/2024 129
220
2 247
73
296
199
891
51