GAZETTE NOTICE NO. 11085

PURSUANT to section 46 (4) of the Unclaimed Financial Assets Act, 2011, the Board of Directors of the Unclaimed Financial Assets Authority hereby publishes an extract of the FY 2019/20 Audited results for the Unclaimed Financial Assets Trust Fund: 2020 2019 Notes KSh.'000 KSh. '000 Income Revenue from exchange transactions Investment income 6 1,403,516 1,191,799 Total income 1,403,516 1,191,799 Expenditure Expenses* Total expenses - - Surplus for the period , 1,403,516 1,191,799 NOTE. *Expenses of the Fund are incurred and absorbed by the Authority in line with Section 44 of the Unclaimed Assets Act, which gives it the responsibility to manage and operate the Unclaimed Financial Assets Trust Fund. The Authority prepares a separate set of Financial Statements, in line with the State Corporations Act. STATEMENT OF FINANCIAL POSITION Notes 2020 2019 Assets KSh. '000 KSh. '000 Current assets Cash and cash equivalents 4 290,524 426,036 Receivables 5 759,472 562,728 Investments 6 19,138,394 15,258,177 Total Assets 20.188,390 16,248,941 Trust Fund and Liabilities Payables Claims 8 31,738 19/131 Transfer to UFAA 339,074 267,601 Total Payables 370,812 287,032 Trust Fund Unclaimed Assets 16,236,904 13,326.451 Revenue reserve 3,580,674 2,635,458 Total Trust Fund 19,817,578 15,961,909 Total Trust Fund and Liabilities 20,188,390 16,248,941 Disclosure Notes. 4. Cash and Cash Equivalents This includes foreign currency that has been received by the Authority as converted at Year-end rates. 5. Receivables This is interest earned on Treasury Bill Investments that have not matured. 6. Investments Investment by the Authority, as currently approved by the Cabinet Secretary National Treasury, is 100% in Treasury Bills hence investment income is from Treasury Bills by Central Bank of Kenya. 7 (b) Assets Reported by holders but have not been received by the Authority: (ii) Assets with known values, converted at year-end closing rates where applicable (KSh '000) Asset Type 2020 2019 Shares 18,841,969 22924,635 Unit Trusts 16,718,633 18,445 TOTAL 35,560,602 22,713,730 (ii) Assets whose values is not known, until they are accessed: [Asset Type 1.4891 201; Safe Deposit boxes 1,691 MESSAGE FROM THE DIRECTORS OF UFAA This is an extract from the Unclaimed Financial Assets Trust Fund's financial statements audited by Office of the Auditor General, using their duly appointed agents, Price WaterhouseCoopers (PWC) and approved by the Board of Directors of Unclaimed Financial Assets Authority on 30th September, 2020. The financial statements are prepared under the International Public Sector Accounting Standards (IPSAS) accrual basis of accounting. A complete set of Financial Statements for FY 2019-20 for the Trust Fund and full disclosures can www.ufaa.go.ke or the Authority's Head Office at 2nd Floor Pacis Centre, Slip Road, Off Waiyaki Way We RICHARD KIK AGAT Chairman, UFAA. MR/1702915 be accessed on the Authority's webs* stlands. JOHN KIHARA MWANOI, CEO/Managing Trustee.