Council contributes to three defined contribution funds and two defined benefit funds. The latter funds are fully funded as at the last actuarial valuation. Current contributions are sufficient to support the benefits of the funds.
Transferred to Other Debtors 81,621 453,325,758 36.
Transferred to Call investment deposits 7,848,293 69,205,028 36.
Transferred to General Expenses 346,618 1,026,193,597 36.
Transferred to Service charges 231,398,146 36.
Transferred to General Expenses 27,869 74,665,779 36.
Transferred to General Expenses 11,926 154,350,287 36.
Total 226,263,537 36.
Total 379,044,292 36.
Transferred to Property Rates 466,714,723 36.
Total 820,904,633 36.
Implementation of GRAP 1: Presentation of Financial Statements Transferred to Bulk Purchases 563,862,023 36.
Total 1,224,937,712 36.
Total 218,453,925 36.
Implementation of GRAP 1: Presentation of Financial Statements Transferred to Interest Paid 39,821,094 36.
Implementation of GRAP 1: Presentation of Financial Statements Transferred to General Expenses 218,271 36.
Total 632,615,785 36.
During the year ended 30 June 2005, the operating grant was erroneously overstated and the comparative figures have accordingly been restated.
Net effect on deficit for year 0 100,170 37.
Regulator of South Africa (NERSA). EDI Holdings has been appointed as the government body to oversee the restructuring of the Electricity Industry. As the first phase, the creation of RED's will incorporate the six major metropolitan centres and later spread across the entire country.
REDs will report directly to central government.
As a result of severe rains on 2 August 2006, the municipality's infrastructure was extensively damaged. The consequential damage has been estimated at approximately R120 million. Indications are that an amount of R106 million will be allocated in terms of the Municipal Infrastructure Grant programme to assist with the repairs to the affected areas.
Subsequent to year-end Council advertised its intention to sell certain pockets of land in Summerstrand. At this stage it is not possible to determine the potential financial implications.
The erstwhile Port Elizabeth Municipality entered into a leaseback agreement of a "Gas Turbine Machine", with ABSA Bank, for a ten year period from 26 September 1996 to 26 September 2006. The agreement was accompanied by a R30m loan facility, which was supported by an investment of a similar amount, attracting interest at 18,75% maturing on 26 September 2006. This agreement was terminated on 26 September 2006 with both parties settling their obligations 39.
The claim arises out of a dispute surrounding the sale of Council owned land.
The claim arises out of a dispute between an Electrical contractor and the Municipality over the alleged amendments to a contract.
(e) Both (d) and (e) refer to the same incident. The claim arises as a result of both the Father and the Mother sueing the Municipality in their separate capacities as their minor child allegedly drowned in water on a Municipal building site.
(f). The liability in respect of post retirement benefits relating to ill-health retirements and medical aid contributions has been assessed by an actuary, with the unfunded liability amounting to R 579 800 000 as at 30 June 2006. Furthermore, Council adopted a strategy that future retirement liabilities be funded over a fifteen-year period.
(g). The claim arises out of a dispute between a housing contractor and the Municipality over the termination of a housing contract due to the continuous failure of the claimant to comply with his obligations under the contract to timeously completing the work.
The claim arises as a result of the Mother sueing the Municipality in her capacity as natural guardian of her minor daughter who sustained injuries whilst in a public recreational park.
The claim arises out of a dispute surrounding payment of monies due and payable by the Municipality to Vukuzenzele (Pty) Limited, Maqadi Yona Construction and Equibuild Construction for alleged services rendered.
The claim arises out of a dispute surrounding alleged payment for services rendered.
The claim arises out of a shooting incident between a Traffic officer and the claimant after the traffic officer allegedly lost control and overturned a municipal vehicle.
The claim arises out of injuries sustained in an alleged fall into an open manhole.
The claim arises out of damage to the Claimants vehicle allegedly caused by swerving as a Municipal Traffic officer overtook an overloaded truck.
The claim arises out of the Municipality allegedly failing to inform Sanlam about the possibility of medical boarding within six months from the last date on which the Claimant actually worked resulting in the alleged repudiation of his claim against Sanlam.
The claim arises out of a dispute surrounding the alleged determination by the engineer pursuant to clause 61 of the General Conditions of Contract, that the contractor's claim for extensions of time and re-establishment costs not be approved.
The claim arises out of the Municipality allegedly failing to inform Sanlam timeously of the Claimant's prospective or potential medical boarding resulting in the alleged repudiation of his claim against Sanlam for permanent and total disability benefits.
The claim arises out of damage to the Claimants property allegedly caused by underground water from a burst municipal water pipe.