Page 99 - KZN Film A Report

Notes to the Financial Statements (continued)
35. Irregular expenditure
Opening balance
Add: Irregular Expenditure - current year
Less: Amounts recoverable (not condoned) - credit note issued Irregular expenditure incurred in prior year but identified in current year
The opening balance on irregular expenditure
16,819,387 765,269 - 390,000
15,173,706 1,763,261 (117,580) -
KWAZULU-NATAL FILM COMMISSION
(Registration number M3/15/32 (834/15)) Annual Financial Statements for the year ended 31 March 2021
Figures in Rand
2021
2020
17,974,656
16,819,387
The revised opening balance of R16,819,387 relates to irregular expenditure incurred during prior financial periods which was not finalised/resolved at year end.
Current period - 2020/21 irregular expenditure
An amount of R390,000 was for SCM processes not followed for procuring training services for FITI. An amount of R252,265.3 was for SCM process was not followed in procuring Insurance services. An amount of R6,000.00 was for SCM process was not followed in procuring translation services. An amount of R1,740.90 was for SCM process not followed in procuring cleaning services.
An amount R1,988.76 was for SCM process not followed in procuring security services.
An amount of R224,250 was for SCM process not followed in procuring the Supervising Producer for the FITI Programme. An amount of R275,043.30 was for SCM process not followed in procuring internal audit services..
An Amount of R3,980.68 was for SCM process not followed in procuring the services for file maintanance.
36. Funds to be surrendered
Creditors and accruals (5,205,206) (2,835,606) Projects to be completed (61,369,188) (47,012,942)
There are no grants or funds to be surrendered in the period under review due to the KZNFC having all its available fund being fully committed through contracts, and purchase orders.
-
-
37. Commitments
Authorised capital expenditure
Already contracted for but not provided for
• Property, plant and equipment
Total capital commitments
246,214 582,808
Already contracted for but not provided for
The committed capital expenditure relates to property plant and equipment and will be financed with available bank facilities.
246,214
582,808
KZN FILM COMMISSION ANNUAL REPORT 2020/2021
97