GAZETTE NOTICE NO. 5474

Details

Act / Legislation

THE YEAR ENDED 30TH JUNE, 2020 STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEAR ENDED 30TH JUNE, 2020 Dealings with members: 2020 KSh. 2019 KSh. Connibutions receivable 14,732,571,428 15,102,379,464 Benefits payable (4,433,548,757) (4,939,110,256) Net Surplus from dealings with members 10,299,022,671 10,163,269,208 Return on investments: Investment income 20,387,577,906 18,288,282,158 Fair value gain on revaluation of investments (10,194,619,584) (9,348.790,568) 13th May, 2022 THE KENYA GAZETTE 2537 Gain on realisation of investments (50,669,212) 390,564,622 Investment management expenses (534,883,716) (404,106,053) Net Investment Income 9,690,743,295 8,925,950,159 Other Income 83,337,900 55,743,772 Total Net Income 9,690,743,295 8,981,693,932 Less: Operating Cost Staff cost 3,820,005,857 4,105,211,249 General administrative cost 1,570,733,413 1,523,719,277 Provisions 16,683,683 138,431,395 Total operating cost (5,407,422,952) (5,767,361,921) Increase in net assets for the year 14,582,343,014 13,377,601,219 As previously reported 235,070,803,089 221,729,634,489 Prior year adjustment - (36,432,620) As restated 235,070,803,089 221,693,201,869 Net Assets as at 30th June 249,653,146,103 235,070,803,089 STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS AS AT 30TH JUNE, 2020 2020 2019 Assets: KSh. KSh. Cash and bank balances 65,797015 419,376,662 Call and fixed deposits 15,645,705,000 9,659,178,400 Government securities-(Treasury bills) 2,002,681,495 5,994,518,873 Government securities-(Treasury bonds) 124,284,783,962 105,033,078,822 Corporate bonds 1,399,604,882 7,140,397,038 Accrued income 6,083,766,970 6,187,626,209 Stores and supplies 80,964,046 72,602,504 Receivables and prepayments 3,688,824,898 3,564,032,511 Staff car loans 245,915,928 267,988,749 TPS loans 4,044,069,201 4,650,326,808 Long-term deposits 1,002,120,242 944,566,315 Quoted stocks 52,543,439,582 52,750,355,185 Unquoted stocks 513,972,854 1,679,927,974 Investment property 34,676,205,651 34,760,285,136 Assets under construction 4,624,048,230 3,177,008,287 Property, plant and equipment 580,590,289 728,596,061 Total Assets 251,482,490,245 237,029,865,535 Liabilities: Payables and accruals (1,829,344,143) (1,959,062,448) Total Liabilities (1,829,344,143) (1,959,062,448) Net Assets 249,653,146,103 235,070,803,087 Funded by: Members' Funds 249,653,146,103 235,070,803,087 STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 30TH JUNE, 2020 2020 2019 KSh. KSh. CASH FLOWS FROM OPERATING ACTIVITIES Net increase in assets 14,582,343,014 13,377,601,219 Adjustments: Depreciation on property, plant and equipment 245,348,727 154,930,951 Amortisation of intangible assets 626,173 52,181 (Gain)/loss on disposal of property, plant and equipment 16,337,150 - Increase/(decrease) in provisions 16,683,683 130,417,018 Fair value gain/(loss) on revaluation 10,194,619,584 9,348,790,568 Operating surplus/(deficit) before working capital changes Changes in working capital: 25,055,958,331 23,011,791,937 Decrease/(increase) in inventories (8,361,543) (8,299,099) Decrease/(increase) in debtors and prepayments (124,792,387) (213,225,806) Decrease/(increase) in accrued income 103,859,239 (1,291,744,742) increase/(decrease) in payables and accruals (129,718,305) (336,085,343) Net changes in working capital (159,012,995) (1,849,354,990) Net cash flows generated from operating activities 24,896,945,336 21,162,436,947 CASH FLOWS FROM INVESTING ACTIVITIES Purchase/sale of equities (8,715,307482) 253,693,848 Purchase/sale or redemption of treasury bonds (204A86,603A33) (20,510305,599) Purchase/sale or redemption of treasury bills 3991,837,378 2024,620,771 Purchase/sale or redemption of corporate bills 5,599093,950 718,63/3,028 Placement of deposits with financial institutions (6,044080,527) (4021,600319) Purcha.se/sale unquoted equities (9,044,880) Development of land and buildings 187,679,485 (441,445982) Receipts from TPS scheme 1,770,389,695 264370,519 Asset under construction (1A47039943) Purchase/sale of property, plant and equipment (981)49,225) (302,097,738) 1300 250 i200 150 1.4.92 1100 50 249.65 221.73 2354" O '2013 2014 2015 2016 2017 2018 2019 2020 16 1227' 11.75 12 10 0 15.1 14.73 2013 2014 2015 2016 2017 2018 2019 2020 13.55 14,04 Benefits in Billions 2538 THE KENYA GAZETTE 13th May, 2022 CASH FLOWS FROM OPERATING ACTIVITIES 2020 KSh. 2019 KSh. Net cash flows from investing activities (25,250,524,984) (22,014,126,873) Net increase/(decrease in cash and cash equivalents (353,579,647) (851,689,926) Cash and cash equivalents as at 1st July, 2018 419,376,662 1,271,066,588 Cash and cash equivalents as at 30th June, 2019 65,797,015 419,376,662 CPA MARIETTA MUTINDA, Ag. Finance Manager. KEY HIGHLIGHTS (1) Growth in net assets Net assets grew by 62% from Kes. 235.07 billion in June 2019 to Kes. 249.65 billion in June 2020. Fund Value in Billions ANTHONY OMERIKWA (DR.), CEO/Managing Trustee. (2) Contributions Member contributions collection decreased by 2.45% from Kes. 15.1 in billion in 2019 to Kes. 14.73 billion in 2020. Contributions in Billions (3) Benefits paid to members Benefits paid to members decreased by 10.32% from Kes. 4.94 billion in 2019 to Kes 4.43 billion in 2020. 13th May, 2022 THE KENYA GAZETTE 2539 (4) Return on investment There was growth in return on investment from Kes. 8.93 billion in June 2019 to Kes. 9.69 billion in June 2020. The growth is attributed to the good returns on fixed income counters at the Nairobi Securities Exchange. RETURN ON INVESTMENT IN BILLIONS 15.91 2014 2015 2016 2017 2018 2019 2020 (5) Interest on member's balances Section 2 of the NSSF Act

Signed By

ANTHONY OMERIKWA (DR.)

Title

CEO/Managing Trustee

Date Signed

21st September 2022

Page

18

Extraction Method

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Source Gazette