Page 264 - Department of Social Development Annual Report 2021

PART E: FINANCIAL INFORMATION
PART E: FINANCIAL INFORMATION
PART E: FINANCIAL INFORMATION
NOTES TO THE ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED

31 MARCH 2021

2.1 Sales of goods and services other than capital assets

Note 2020/21 2019/20

2
R’000
R’000

Sales of goods and services produced by the
department
Other sales - 1
Total - 1

No tender documents or waste paper were sold during the year under review.

2.2 Interest, dividends and rent on land

Note

2 2020/21 2019/20
R’000
R’000

Interest 2 491 2 601
Total 2 491 2 601

Interest is mainly received by the South African Social Security Agency as grants are transferred
to commercial banks for paying grants.

2.3 Transactions in financial assets and liabilities

Note 2020/21 2019/20

2 R’000 R’000

Receivables 21 057 270 040
Other Receipts including Recoverable Revenue 428 392
Total 21 485 270 432

When interest bearing debtors are written-off it has an impact on revenue. In the 2019/20
financial year, the department received approval from National Treasury for the write-off of social
grant debtors to the amount of R248 million. However, approval for write-off was not granted by
National Treasury in the 2020/21 financial year.
Unallocated payments for grant debtors can after three years be transferred to revenue in line
with debtor’s management policies.

264 DEPARTMENT OF SOCIAL DEVELOPMENT ANNUAL REPORT 2020/21