Page 158 - UniZulu Annual Report 2020

FINANCE REPORT
This report is a presentation of the consolidated Annual Financial Statements of the University for
the year ended 31 December 2020. It provides an executive overview of the main financial activities and results of the University.
OPERATING RESULTS
Table 63: Comprehensive Income
The statement of consolidated comprehensive income for 2020 reflects a surplus before other comprehensive income of R158,1 million (2019: R172,2 million). While the University budgeted for a small surplus for the 2020 year, the positive results are mainly attributable to operational budget savings, due to restrictive COVID-19 lockdowns. After taking into account the items related to post-retirement obligations and the change in fair value of investments, the total comprehensive income for the year is R251,4 million (2019: R174,2 million). The two tables below illustrate the various reportable segments and the operating results pertaining to each one.
EXECUTIVE SUMMARY: STATEMENT OF COMPREHENSIVE INCOME (R’000)
2018
% INCREASE
2019
% INCREASE
2020
Net surplus/(loss)
38 501
347%
172 189
-8%
158 084
Other comprehensive income items
24 517
-92%
2 052
4 446%
93 284
Total comprehensive income
63018
176%
174 241
44%
251 368
UNIVERSITY OF ZULULAND ANNUAL REPORT 2020
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