Page 172 - WCPP Annual Report 2021-22_Draft #7.6.2

Annual Report for the 2021/22 Financial Year

Vote 2: Western Cape Provincial Parliament
Part E: Financial Information for the year ended 31 March 2022

Notes to the Annual Financial Statements

Figures in Rand 2022 2021

6. Receivables from exchange transactions (continued)

Reconciliation of allowance for impairment

Opening balance - -

Provision for impairment 37,062 -

37,062 -

7. Prepayments

Parmed 139,570 142,674
Other prepayments 773,200 477,642
912,770 620,316

The Parmed prepayment is for the expense relating to the month after financial quarter.

8. Long term receivables from non-exchange transactions
Recoverable expenditure 5,941 8,341

The long term receivables from non-exchange transactions relates to the same receivables under note 5 and consists of debt

relating to accidents incurred that needs to be recovered from the respective party. The long term portion is determined based on

repayment arrangements that are in place between the staff or member and the legislature.

Receivables from non-exchange transactions pledged as security:
No receivables from non-exchange transactions were pledged as security.

Credit quality of receivables from non-exchange transactions:

The credit quality of receivables from non-exchange transactions are neither past nor due nor impaired.

Receivables from non-exchange transactions impaired:

As of 31 March 2022, receivables from non-exchange transactions were not impaired (2021: R Nil).

Annual Report for 2021/22 Financial Year Page 157