Page 84 - Playhouse Annual Report 2021:22

Annual Financial Statements for the year ended 31 March 2022 Notes to the Annual Financial Statements (continued)
30.2
Reconciliation between budget and statement of financial performance – capital expenditure
FIXED ASSET ADDITIONS – ACTUAL VERSUS BUDGET
2022
2022
2022
2022
2022
Explanation of Significant Variance
Actual
Original Budget
Revised Budget
Variance
Variance
R
R
R
R
%
Office equipment
298 524
300 000
300 000
(1 476)
0%
N/a
Computer equipment
506 061
225 000
755 000
(248 939)
-33%
Sever upgrade planned but postponed pending review of new IT systems. This will be implemented in the new financial year.
Stage equipment
520 856
200 000
295 000
225 856
77%
Additional paging system required in the theatre building amounted to R160 000. Outdated microphones and amplifiers had to be replaced, resulting in budget overspend.
Buildings
1 855 291
14 935 160
50 099 186
(48 243 895)
-96%
• Facilities Management (FM): The budget for FM is included in the Buildings total budget. Actual expenses of R2.6m pertaining to repairs and maintenance has been included in Maintenance expenditure. Plan to address the underspending which is regarded now as a back log is in place starting from third quarter of financial year 2021/22 to last end March 2023. Work entailing repairs, maintenance and minor upgrade is
in progress. Projects are undertaken as planned in line with our control capacity.
• Opera & Drama Seats: Recommendations received from National Treasury indicated cancelling the tender for the theatre seats. The tender was subsequently cancelled. The tender is planned to be done in the new financial year 2022/2023.
• Buildings Decontamination: the project arising from the Covid 19 pandemic to the value of R 1.89 million will be spent as and when costs are incurred to disinfect the buildings. This is an ongoing item.
• Optimizing digital systems and assets tender: SCM process completed in the 3rd Quarter to appoint a specialist consultant to assist with all process leading to the specifications for the tender. The specialist consultant performed proper data collection work to formulate the BOQ for the tender documents in the 4th quarter of 2022. The tender for Optimizing digital systems and assets will be advertised in the next financial year.
Total
3 180 732
15 660 160
51 449 186
(48 268 454)
-94%
14 074 309
17 095 000
24 244 256
10 169 947
42%
Changes from the approved budget to the final budget were due to capital budget roll overs ‘and new capital funding received from DSAC.
Funding for capital projects were received by 31 March 2021 and the funds had to be rolled over to the year ended 31 March 2022 for project implementation and execution.
82 The Playhouse Company