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Availability of the Annual Financial Statements for the year ended 30 June 2021 - CTMM
THE CITY OF TSHWANE METROPOLITAN MUNICIPALITY
(A municipality as described in section 2 of the Local Government Municipal Systems Act, 2000, duly
established in terms of Notice No. 6770, promulgated in the Provincial Gazette Extraordinary of 1
October 2000 in terms of section 12(1) read with section 14(2) of the Local Government : Municipal
Structures Act, 1998, as amended)
(Issuer code: CTMM)
(“City of Tshwane” or the “Issuer”)
AVAILABILITY OF THE ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE
2021
Further to the announcement released on the 28th of February 2022, noteholders are advised that City
of Tshwane financials are now available at the following link:
Annual Financial Statements
https://www.tshwane.gov.za/sites/Departments/Financial-Services/Financial-
Documents/Approved%20201516/Consolidated%20Annual%20Financial%20Statements%2030%20J
une%202021%20(part%201).pdf
and
https://www.tshwane.gov.za/sites/Departments/Financial-Services/Financial-
Documents/Approved%20201516/Consolidated%20Annual%20Financial%20Statements%2030%20J
une%202021%20(part%202).pdf
Audit Report
https://www.tshwane.gov.za/sites/Departments/Financial-Services/Financial-
Documents/Approved%20201516/COT%20Consol%20Final%20AR%202020-21.pdf
The Annual Financial Statements (“AFS”) of the issuer have been audited by the Auditor General,
who has issued an unqualified audit opinion.
The audit report draws attention to the matters below. The opinion was not modified in respect of
these matters.
Restatement of corresponding figures
As disclosed in note 56 to the consolidated and separate financial statements, the
corresponding figures for 30 June 2020 were restated as a result of errors discovered in the
consolidated and separate financial statements of the municipality at, and for the year ended,
30 June 2021.
Material uncertainties
With reference to note 64 to the consolidated and separate financial statements, the
municipality is the defendant in various lawsuits. The outcome of these matters could not be
determined and/or reliably measured; therefore, no provision for any liabilities that may result
was made in the consolidated and separate financial statements.
Material impairments
As disclosed in note 9 to the consolidated and separate financial statements, the consumer
debtors’ balance has been significantly impaired. The allowance for impairment of consumer
debtors’ amounts to R10,57 billion (2019-20: R10,90 billion), which represents 62.21%
(2019-20: 64.01%) of total consumer debtors. The1 contribution to the provision for debt
impairment, as disclosed in note 9 to the consolidated and separate financial statements,
was R1,82 billion (2019-20: R1, 39 billion).
Material fosses — electricity losses
As disclosed in note 70 to the consolidated and separate financial statements, material
electricity losses of R1, 84 biliion (2019-20: R1, 73 billion) was incurred, which represents
19.24% (2019- 20: 22.31%) of total electricity purchased. Technical losses amounted to
R669, 30 million (2019- 20: R611, 75 million) and was due to the electricity that was lost
when it was distributed from the source of generätion through the transmission and
distribution network to the consumers. Non-technical losses amounted to R1, 17 billion
(2019-20: R1, 11 billion) and were due to administrative and technical errors, negligence,
theft of electricity, tampering with meters and connections which form part of illegal
consumption and faulty meters.
Material losses — water losses
As disclosed in note 69 to the consolidated and separate financial statements, material water
losses of R1, 17 billion (2019-20: R988, 88 million) was incurred, which represents 34.G0%
(2019-20: 29.81%) of total water purchased. Technical losses amounted to R933, 91 million
(2019-20: R791, 11 million) and was due to the physical loss of water through the water
distribution network. Non-technical losses amounted to R233, 48 million (2019-20: R197, 78
million) and were due to meter inaccuracies, meter estimations, non-metering of water and
unauthorised consumption.
Disclosure on the impact of Covid-19
I draw attention to note 83 in the consolidated and separate financial statements, which
deals with the impact and Possible effects of Covid-19 on the municipality’s current and
future performance.
The complete audit report forms part of the annual financial statements and may be viewed at the link
above.
Tshwane
11 March 2022
Debt Sponsor
Absa Bank Limited (acting through its Corporate and Investment Banking Division)
Date: 11-03-2022 05:30:00
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