Page 84 - DUT Annual Report 2024

The actuarial valuation of the post-retirement benefits obligation as at 31 December 2024 was R172.61 million (2023: R169.48 million).
Other Operating Expenses
Other recurrent operating expenses increased by 12.38%, from R998.05 million in 2023 to R1 110.42 million in 2024.
Student Accomodation
Figure 30: Student accommodation
Student accommodation is required to cover its costs and provide resources for long-term maintenance. Income for student accommodation increased from R716.12 million in 2023 to R949.51 million in 2024, representing an increase of 32.59%. Expenditure incurred amounted to R880.92 million (2023: R698.46 million) of which R862.55 million (2023: R684.10 million) was in respect of operating expenditure.
Statement of Financial Position
Total Assets
Total assets amounted to R9 589.65 million (2023: R8 662.65 million), which represents an increase of 10.70% (2023: 9.96%) compared to the previous year.
The largest contributors have been the property plant and equipment with additions of R253.90 million in 2024 and intangible assets of R27.63 million for the purchase of the ERP system.
Student debtors before impairment increased to R1 149.11 million in 2023 from R1 001.54 million, representing an increase of R147.57 million. Student debt after the impairment provision was R563.07 million (2023: R514.99 million). Debt impairment provision increased by 20.45%. The key reason for this increase is attributed to an increase in the forward- looking assumptions in the provision assessment. The majority of the outstanding student debt relates to the 2024 academic year.
During the year under review, the university received R2 249.68 million from NSFAS compared to the R1 921.29 million received in 2023, representing an increase of 17.09% (2023: 1.90%). The number of students funded by NSFAS increased from 22 672 to 24 005 in 2024 and the allowance previously paid directly to the students was disbursed through the university.
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DUT ANNUAL REPORT 2024