GAZETTE NOTICE NO. 10554

THE SACCO SOCIETIES REGULATORY AUTHORITY (SASRA) AUDITED FINANCIAL STATEMENTS AS AT 30TH JUNE, 2022 Statement of Financial Performance for Period ended 30th June 2022 Notes 2021-2022 2020-2021 Revenue KSh. KSh. Levies 6 495,221,058 420,961,506 Public Contributions and Donations 7 6,101,600 - Licenses, Fees and Permits 8 36,974,901 17,374,000 Other income 9 141,150 Total Revenue 538,438,709 438,335,506 Expenditure Use of goods and services 10 198,792,050 135,171,885 Employee costs 11 235,730,785 226,509,926 Board Expenses 12 21,328,675 24,082,968 Depreciation and amortization expense 13 111,701,190 69,180,648 Repairs and maintenance 14 3,725,005 5,357,699 Total Expenditure 571,277,706 460,303,125 Surplus/ (Deficit) for the period (32,838,997) (21,967,619) Statement of Financial Position as at 30th June, 2022 2021-2022 2020-2021 ASSETS Notes Current Assets Ksh. KSh. Cash & Cash Equivalents 15(a) 294,886,305 235,249,341 Receivable from Non Exchange transactions 16 9,828,440 4,146,075 Total Current Assets 304,714,745 239,395,416 Non-current Assets Property, plant and equipment 22(a) 247,825,559 186,958,895 Intangible assets 22(b) 12,143,220 13,768,405 259,968,779 200,727,300 Total Assets 564,683,524 440,122,716 Funds and Liabilities Current Liabilities Trade and other payables 17 19,702,546 41,670,442 Provisions 18 11,319,932 4,751,790 31,022,478 46,422,232 Funds & Reserves Capital Reserves 19 796,243,608 630,909,209 Accumulated surplus/deficit 20 (275,582,562) (250,208,725) Revaluation 21 13,000,000 13,000,000 Total Funds and Reserves 533,661,046 393,700,484 Total Funds and Liabilities 564,683,524 440,122,716 Statement of Changes in Net Assets for the Period Ended 30th June, Capital fund Retained earnings Revaluation reserve Total KSh. KSh. KSh. KSh. Balance as at 607,349,669 (206,027,995) 13,000,000 414,321,674 Capital fund Retained earnings Revaluation reserve Total 30th June 2019 Surplus/Deficit for the period - 46,318,216 - 46,318,216 Remission to National Treasury (23,238,158) - (23,238,158) Donations 23,559,540 - 23,559,540 Balance as at 30th June 2020 630,909,209 (182,947,937) 13,000,000 460,961,272 Surplus/Deficit for the period - (21,967,619) (21,967,619) Remission to National Treasury (42,127,240.00) (42,127,240) Add:Prior year adjustments (3,165,926.40) (3,165,926) Transfers to capital - Balance as at 30th June 2021 630,909,209 (250,208,723) 13,000,000 393,700,483 Surplus/Deficit for the period - (32,838,997) (32,838,997) Add:Prior year adjustments 7,465,157.89 7,465,157.89 Donations 165,334,399 165,334,399 Balance as at 30th June 2022 796,243,608 (275,582,562) 13,000,000 533,661,046 Statement of Cash Flows as at 30th June, 2022 Notes 2021-2022 2020-2021 Cash flows from operating activities KSh. KSh. Receipts Levies - Sacco Deposits 6 495,221,058 420,961,506 License application fees 8 36,974,901 17,374,000 Other income 9 141,150 Total Receipts 532,337,109 438,335,506 Payments Use of goods and services 10 157,429,790 96,477,230 Rent paid 10 41,362,260 38,694,654 Employee Expenses 11 229,629,185 226,509,926 Board Expenses 12 21,328,675 24,082,968 Repairs and maintenance 14 3,725,005 5,357,699 Total Payments 453,474,916 391,122,478 Surplus/Deficit before working capital changes 78,862,193 47,213,029 Working capital changes Decrease/(Increase) in current receivables 19 (5,682,365) 9,003,630 Increase/(Decrease) in current payables 20 (15,399,754) 27,987,084 Net changes in working capital (21,082,119) 36,990,714 Net cash flows from operating activities 57,780,074 84,203,743 Cash flows from investing activities Purchase of property, plant, equipment and intangibles (5,608,270) (111,489,649) Net cash flows used in investing activities (5,608,270) (111,489,649) Cash flows from financing activities Surplus paid to KRA (42,127,140) Prior year adjustments 7,465,158 (3,165,926) Transfer to capital (11,785,789) Net cash flows used in financing activities 7,465,158 (57,078,855) Net increase/(decrease) in cash and cash equivalents 59,636,962 (84,364,761) Cash and cash equivalents at1st July (B/f) 235,249,342 319,614,103 Cash and cash equivalents at 30 June 294,886,304 235,249,342 3468 3468 Statement of Comparison of Budget and Actual Amounts as at 30th June, 2022 Revised budget 2021/22 Performance Performance difference Details 2021/22 Recurrent Revenue: KSh. KSh. KSh. Deposit Levy 480,724,059 495,221,058 (14,496,999) License Fees 32,162,900 36,032,900 (3,870,000) License Application fees 1,607,000 942,001 664,999 Revenue from disposal of assets - 141,150 (141,150) 6,101,600 (6,101,600) Total Income 514,490,956 538,438,709 (23,944,750) Expenses Use of goods and services 195,393,999 198,792,050 (3,398,051) Employee costs 239,741,909 235,730,785 4,011,124 Board Expenses 25,098,200 21,328,675 3,769,525 Depreciation and amortization expense - 111,701,190 (111,701,190) Repairs and maintenance 19,115,051 3,725,005 15,390,046 Total Recurrent Expenditure 479,349,159 571,277,706 (91,928,547) Details 2021/22 Capital Expenditure Motor Vehicle 5,144,800 5,144,800 - Staff Car loan and Mortgage 30,000,000 30,000,000 - Total Expenditure 514,493,959 606,422,506 (91,928,547) Deficit for the period - (67,983,797) 67,983,797 Development Revenue Deposit Levy 14,500,000 14,500,000 - Rolled over RBSS Fund 103,550,308 103,550,308 - RBSS and Performance security 20,842,287 - (20,842,287) Total revenue for development 138,892,595 118,050,308 (20,842,287) Development expenditure Office partitioning 14,500,000 - (14,500,000) Implementation of RBSS 103,550,308 - (103,550,308) RBSS and Performance security 20,842,287 - (20,842,287) Total development expenditure 138,892,595 - (138,892,595) Dated the 7th August, 2023. PETER NJUGUNA, MR/5166994 Chief Executive Officer.