Page 59 - SABN AR 2021

12.
Provisions and staff accruals
Reconciliation of provisions and staff accruals – 2021
Leave
Bonus
Staff accrual Other provisions Disability provision
Reconciliation of provisions and staff accruals – 2020
R’000
Opening balance
Charged to statement of comprehensive income
Utilised during the year
Closing balance
20 362
9 549
(4 406)
25 505
22 082
32 197
(21 203)
33 076
6 284
28
(619)
5 693
6 947
12 898
(13 061)
6 784
7 796
–
(1 216)
6 580
63 471
54 672
(40 505)
77 638
Opening balance
18 975 6 786 4 989 6 936 6 483
10 345
54 514
R’000
Charged to statement of comprehensive income
Utilised during the year
(2 590) (14 655) (27 777)
(455) 1 313 –
(44 164)
Reversed during the year
– – – – –
(10 345)
(10 345)
Closing balance
20 362 22 082 6 284 6 947 7 796 –
63 471
2020
R’000
7 796 55 675 63 471
Leave
Bonus
Staff accrual Other provisions Disability provision Sewage pipe
Comprises: Non-current liabilities Current liabilities
3 29 29
63
977
951
072
466
– –
466
2021
R’000
6 580
71 058
77 638
The leave accrual includes statutory, non-statutory and long-service leave that has accrued to employees.
The bonus provision is made up of a quarterly production and annual incentive bonus which is due to employees in the next financial year.
Staff accruals are made up of amounts due to employees in respect of the 13th cheque, shift and standby allowances, and overtime worked.
Other provisions are amounts relating to long-service gifts and the short-term portion of disability cover.
The disability provision relates to the non-current portion payable to employees who are declared ‘not able’ to perform their duties due to medical reasons. These employees receive a monthly income, until they reach the age of 55, whereafter they are placed on early-retirement.
The sewer pipe provision was raised for the costs to re-route the sewer pipe, as per the requirements of the City of Tshwane, which were subsequently waivered in the prior financial year, and hence the provision was reversed.
168 909
168 909
13.
Trade and other payables
Trade payables
129 732 129 732
South African Bank Note Company (RF) Proprietary Limited
Annual Report 2021
59