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Availability of the Annual Financial Statements for the year ended 30 June 2021 - BIEM
CITY OF EKURHULENI METROPOLITAN MUNICIPALITY
Established in the Republic of South Africa in terms of section 12(1) of the Local Government: Municipal
Structures Act, 117 of 1998, read with Notice No 6768 of 2000 published in Provincial Gazette
Extraordinary No 141 dated 1 October 2000)
Company code: BIEM
(“Ekurhuleni” or the “Issuer”)
AVAILABILITY OF THE ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
Noteholders are hereby advised that the City of Ekurhuleni Metropolitan Municipality’s Annual Financial
Statements for the year ended 30 June 2021 are available on Ekurhuleni’s website and can be found on the
below link:
Annual Report:
https://www.ekurhuleni.gov.za/about-the-city/annual-reports/2020-21/5332-a-f-12-2022-annexure-a/file.html
Annual Financial Statements:
https://www.ekurhuleni.gov.za/about-the-city/annual-reports/2020-21/5333-a-f-12-2022-annexure-b/file.html
Accounting Officer’s Responsibilities and Approval:
https://www.ekurhuleni.gov.za/about-the-city/annual-reports/2020-21/5339-coe-signed-group-accounting-
officer-s-responsibilities-and-approval/file.html
The annual financial statements of the issuer have been audited by The Auditor General of South Africa, who
have issued an unqualified audit opinion.
The City of Ekurhuleni’s corresponding figures for 30 June 2020 were restated as a result of an error in the
financial statements of the group at, and for the year ended, 30 June 2021.
Investment Property, Property Plant and Equipment; Intangibles (including Assets under construction) increased
due to the corrections of completed projects previously partially capitalised as a results of additional project
management costs and other consumer price adjustments costs incurred after the completion of the construction
phase or where there were disputes on contract variations. These corrections do not have an impact on assets
gross values but result in additional accumulated depreciation for prior period. Furthermore additional
information were provided for the donated assets to enable their addition in the fixed asset register and the
contra entry is in accumulated surplus.
Inventory, increased due to additional transfer/ capitalisation of other assets under construction.
Accounts payables increased due to additional accruals of invoices received in the current year.
The reclassification of the short retirement benefits and provisions according to GRAP 101.
The HSDG grant has been reclassified from non exchange revenue to construction income as required by
the Housing guide.
Corrections on prior year on the statements of financial performance relate reclassification of transaction
done at entity level.
The net impact of these corrections lead to decrease in the accumulated surplus as previously reported.
Please refer to note number 54 in the Notes to the Annual Financial Statements for further details.
31 January 2022
Debt Sponsor
Absa Bank Limited (acting through its Corporate and Investment Banking Division)
Date: 31-01-2022 04:30:00
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