Page 195 - WCPP Annual Report 2021-22_Draft #7.6.2
P. 195
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
41. Prior period error
During the preparation of the annual financial statements for the current year the following errors were identified.
Operating leases
During the period ended 31 March 2022, the expenditure with regard to Operating Leases was shifted from the face of the
Statement of Financial Performance to be included in the general expense line item on the face, this is due to correcting the
fact that the operating lease expenses froms part of the nature of expenditure which forms part of general expenses.
Increase in general expenses 503,634
Decrease in lease rentals on operating lease (503,634)
-
S&T Daily Allowance
During the year, it was identified that the rate used for the S&T daily allowances was the incorrect rate, resulting in a short fall of
these payments made.
Increase in general expenses 6,708
Increase in other payables (6,708)
-
Audit fees
During the period ended 31 March 2022 the legislature identified that in the prior year it had over paid the Auditor General
based on a proforma invoice. A credit note was then issued to clear this over payment in April 2021. A receivable is therefore
being raised to clear the over payment in the prior year and to which the credit note will be allocated in the current year.
Decrease general expenses (59,770)
Increase Receivables from exchange transactions 59,770
-
Statement of financial position
Payables from exchange transactions (6,708)
Receivables from exchange transactions 59,770
Statement of Financial Performance
General expenses 450,572
Lease rentals on operating lease (503,634)
Annual Report for 2021/22 Financial Year Page 180