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An Overview of Financial Performance

<logo>. -. An Overview of Financial Performance. Highlights. Debtors Collection period: The debtors collection period has remained stable and is reasonable for the agricultural industry which is seasonal.

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An Overview of Financial Performance

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  1. <logo> - An Overview of Financial Performance

  2. Highlights Debtors Collection period: The debtors collection period has remained stable and is reasonable for the agricultural industry which is seasonal. Current ratio: This is an indication of the ARC liquidity, and shows that our current assets cover the current liabilities 1.11 (2003: 1.48) times.

  3. Report of the Auditor-Generalfor the year ended 31 March 2004 • Audit Opinion • Audit of financial statements – Unqualified • Audit of performance information – Qualified - the measure of performance against predetermined objectives. The Balanced Scorecard was finalised too late in the financial year to be audited. (extract attached)

  4. Balanced Scorecard Extract

  5. Income

  6. Expenses

  7. Income Sources

  8. Parliamentary grant vs External earnings 2004

  9. Parliamentary grant vs External earnings 2003

  10. Balance Sheet

  11. Assets The ARC Asset base consists of: Land and Buildings R354 790 827 Plant and Equipment R17 683 800 Motor vehicles R633 880 Computer Equipment R2 574 711 The limitation of funds has unfortunately had a negative impact on our capital expenditure planning with a result that the majority of our assets are past their useful lives and the maintenance costs are putting our maintenance planning under strain.

  12. Application of Financial Resourcesto the ARC goals

  13. Total Income vs Infrastructure The relationship between income and infrastructure shows how the infrastructure invested has not shown any growth and is steadily declining as the infrastructure is aging. This poses a problem as it is becoming progressively more difficult to utilise the old infrastructure to generate and grow our income.

  14. Audit Report Performance

  15. <logo> Thank You

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