GAZETTE NOTICE NO. 3643

PURSUANT to section 46 (4) of the Unclaimed Financial Assets Act, 2011, the Board of Directors of the Unclaimed Financial Assets Authority publishes an extract of the FY 2016/17 audited results for the Unclaimed Financial Assets Trust Fund. STATEMENT OF FINANCIAL PERFORMANCE 2017 2016 Notes KSh. ‘000 KSh. ‘000 INCOME Revenue from exchange transactions Investment income 6 734,517 444,899 Total income 734,517 444,899 EXPENDITURE Expenses* - Total expenses - - Surplus for the period 734,517 444,899 Note. *Expenses of the fund have been absorbed by the Authority in line with section 44 of the Unclaimed Assets Act that gives it the responsibility to manage and operate the Unclaimed Financial Assets Trust Fund. STATEMENT OF FINANCIAL POSITION Notes 2017 2016 ASSETS KSh. ‘000 KSh. ‘000 Current Assets Cash and cash equivalents 4 258,212 27,711 Receivables 5 315,280 161,883 Investments 6 9,118,756 5,868,232 TOTAL ASSETS 9,692,248 6,057,826 Payables Claims 1,581 - Transfer to UFAA 152,000 - Total Payables 153,581 - RESERVES Unclaimed Assets Trust Fund 7 8,538,209 5,525,814 Revenue Reserve 1,000,458 532,012 Total Reserves 9,538,667 6,057,826 TOTAL RESEVES LIABILITIES 9,692,248 6,057,826 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, the 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: Assets with known values, converted at year-end closing rates where applicable: Asset Type 2017 2016 Shares 16,433,424 10,237,130 Foreign Currency 194,523 335,027 Unit Trusts 12,976 - Total 16,640,923 10,572,157 Assets whose values is not known, until they are accessed: Asset Type 2017 2016 Safe Deposit boxes 962 - 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 Waterhouse Coopers (PWC) and approved by the Board of Directors of Unclaimed Financial Assets Authority on 2nd November, 2017. 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 2016-17 for the Trust Fund and full disclosures can be accessed on the Authority’s website: www.ufaa.go.ke or the Authority’s Head Office at 2nd Floor, Pacis Centre, Slip Road, off Waiyaki Way, Westlands. KATWA KIGEN, Chairman. KELLEN E. KARIUKI, MR/4790027 C.E.O. /Managing Trustee.