GAZETTE NOTICE NO. 5073

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 2020/21 audited results for the Unclaimed Financial Assets Trust Fund: STATEMENT OF FINANCIAL PERFORMANCE 2021 2020 Notes Shs ‘000 Shs ‘000 Income Revenue from exchange transactions Investment income 6 1,586,364 1,403,516 Investment income from Call deposits 342 Total income 1,586,706 1,403,516 Expenditure Expenses* Total expenses - - Surplus for the period 1,586,706 1,403,516 2408 2408 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 prepare a separate set of financial statements, in line with the State Corporations Act. STATEMENT OF FINANCIAL POSITION Notes 2021 2020 Assets Shs ‘000 Shs ‘000 Current Assets Cash and cash equivalents 4 217,378 290,524 Receivables 5 822,429 759,472 Investments 6 23,730,691 19,138,394 Total Assets 24,770,498 20,188,390 Trust Fund and Liabilities Payables Claims 8 94,891 31,738 Transfer to UFAA 714,100 339,074 Total Payables 808,991 370,812 Trust Fund Unclaimed Assets 19,508,227 16,236,904 Revenue reserve 4,453,280 3,580,674 Total Trust Fund 23,961,507 19,817,578 Total Trust Fund and Liabilities 24,770,498 20,188,390 Disclosure Notes Cash and Cash Equivalents This includes foreign currency that has been received by the Authority as converted at year-end rates Receivables This is interest earned on Treasury Bill Investments that have not matured Investments Investment by the Authority, as currently approved by the Cabinet Secretary for the National Treasury, is 100% in Treasury Bills hence investment income is from Treasury Bills by Central Bank of Kenya. Assets reported, but held by Holders on order of the Authority: 1. Assets with known values, converted at year-end closing rates where applicable (Kshs ‘000) Asset Type 2021 2020 Shares 20,112,474 18,841,969 Unit Trusts 20,129,192 16,718 Total 2. Assets whose values is not known, until they are accessed: Asset Type 2021 2020 Safe Deposit boxes 2,648 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, PriceWaterhouseCoopers (PWC) and approved by the Board of Directors of Unclaimed Financial Assets Authority on 30th November 2021. 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 2020-21 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. RICHARD KIPLAGAT, JOHN KIHARA MWANGI, Chairman, UFAA. CEO/Managing Trustee. MR/3258906