NSA records surplus of over N.dollars 1 million

11 Jul 2013 06:20
WINDHOEK, 11 JUL (NAMPA) - The Namibia Statistics? Agency (NSA) recorded a surplus of almost N.dollars 1,5 million during the 2012/2013 financial year.
This was revealed in its 2012/2013 annual financial report, which was handed over to the Director-General of the National Planning Commission (NPC) Tom Alweendo in the capital on Wednesday.
The total amount recorded was N.dollars 1 446 557.
?The agency thus has sufficient surplus to absorb any future deficits, and together with funding from the government, these will ensure the operational existence of the agency, and this confirms the appropriateness of the going-concern basis in the preparation of the annual financial statements,? reads the report.
The NSA received funding of N.dollars 56 million from Government for the 2013/2014 financial year.
The report indicated that the agency recorded a total revenue of N.dollars 60 073 048 for the 2012/2013 financial year, which included the day-to-day operational subsidy of N.dollars 30 million, a geographic information system of N.dollars 4 million, grants related to assets of N.dollars 5,5 million, and grants related to income of N.dollars 11,6 million.
The agency also recorded administrative expenses of N.dollars 847 738, and operational expenses of N.dollars 33 215 396.
The revenue is measured as a fair value of the consideration received or receivable, net of discounts as well as sale-related taxes collected on behalf of Government authorities.
The report was audited by Grand Namibia, which provides accounting, auditing, business advisory and tax consultancy services.