INCOME STATEMENT
FOR THE YEAR ENDED AT 31 MARCH 1991
|
Notes
|
R'000
|
| Turnover |
12
|
374
793
|
| Income
|
|
374
793
|
| Fare
revenue |
|
309
793
|
| Infrastructure
assets rental |
|
47
000
|
| Income
from property development |
|
18
000
|
|
|
|
| Expenditure |
|
1
234 283
|
| Management
and agency fee |
|
1
115 000
|
| Depreciation |
|
100
176
|
| Head
office expenses |
13
|
7
162
|
| Security |
|
11
494
|
| Administration
fee |
|
366
|
| Audit
fee |
|
85
|
|
|
|
| Funding
requirement before interest and extraordinary item |
|
(859
490)
|
| Net
operating loss in subsidiary |
|
0
|
|
|
(859 490)
|
| Interest
received |
14
|
222
553
|
|
|
(636 937)
|
| Interest
paid |
15
|
244
148
|
|
|
(881 085)
|
| Less: |
|
|
| Extraordinary
item |
16
|
150
000
|
|
|
|
| Funding
requirements before State compensation |
|
(1 031 085)
|
| State
compensation |
17
|
880 874
|
| Funding
requirement for the year |
|
(150 211)
|
| Net
income attributable to period prior to establishment |
18
|
211
|
| Net
funding requirement at end of year |
|
(150 000)
|
Note: The net funding requirement at the end of the year (R150
million) is represented by a provision for irrecoverable debts.
The requirement was not compensated by the State since it adheres
to a policy whereby expenditure claims are only granted once they
have realised.
|
