Page 269 - DSD ANNUAL REPORT 2022-2

SOCIAL RELIEF FUND PART E: FINANCIAL INFORMATION

Notes to the Financial Statements of the Social Relief Fund for the year Y ear
The Financial Stat
ements
Of
o
Notes To The Financial Statements Of The Refugee Relief Fund For The Year
es
T
efuge
e R
elief Fund For
The R
The
Not
ended 31 March 2022
Ended 31 March 2022
Ended 31 March 2022
6.1.4 Interest Rate Risk
The Social Relief Fund manages its interest risk by effectively investing surplus funds with different accredited financial
institutions. Any movement in interest rate will affect interest income. Interest income is capitalized and will therefore not affect
the operations of the Social Relief Fund.
2021/22 2020/21 Change
Change Effective Rate Effective Rate
Investment (0.04%) 3.70% 3.74% 0.06%
Interest risk sensitivity analysis 2021/22 2020/21
Investments 44,969 43,336
0.04% interest fluctuation impact 17.99 1 265.41
6.1.5 Foreign Exchange Risk
The Fund does not hedge foreign exchange fluctuations. The Fund does not have any foreign account receivables, foreign accounts
payables or derivative market instruments.

6.1.6 Price Risk
Due to the nature and extent of the Fund, there is no exposure to price risks.

7. Cash and Cash Equivalents
2020/21
R’000
Cash – Bank Deposits 21 21
Cash – Investment Account 44,969 43,336
Total 44,990 43,357

The credit quality of cash at bank and short-term deposits, excluding cash on hand that are neither past due nor impaired can be
assessed by reference to external credit ratings (if available) or historical information about counterparty default rates.

8. Cash generated from/ (utilized in) Operations
2021/22
R’000
Surplus/ (deficit) before tax 1,633
(Interest received) (1,664)
Net cash generated from Operations (31)

9. Net cash inflows/outflows from Operating Activities
2021/22 2020/21
R’000 R’000
Cash payments to suppliers and employees (31) (27)
Cash generated from/ (utilized in) operations (31) (27)
Interest received 1,664 1,625
Net cash inflows/outflows from operating activities 1,633 1,598

10. Events after Balance Sheet Date
None identified to date.
11. Related Party Transactions

269 DEPARTMENT OF SOCIAL DEVELOPMENT ANNUAL REPORT 2021/22