annual report 2009/2010 - cloud object storage |...

Represented Political Parties’ Fund

Annual Report 2009/2010

An

nu

al R

ep

or

t 20

09

/20

10

Electoral Commission of South AfricaRiverside Office Park

1303 Heuwel Avenue, Centurion, 0157

Telephone: +27 12 622 5700

www.elections.org.za

RP 228/2010ISBN: 978-0-621-39666-9

Rep

resented

Politica

l Parties’ Fu

nd

ELECTORAL COMMISSIONReport regarding the Management and Administration of the


during thefinancial year 1 April 2009 to 31 March 2010 in terms ofSection 8 of the Public Funding of Represented Political Parties Act, 1997

(Act 103 of 1997)

Represented Political Parties’ Fund – Annual Report 2009/2010 3

Contents

Management and Administration 5

Allocations to the Represented Political Parties 7

Extracts of Represented Political Parties’ Financial Statements- African Christian Democratic Party- African Independent Congress- African National Congress- African People’s Convention- Azanian People’s Organisation- Congress of the People- Democratic Alliance- Freedom Front Plus- Independent Democrats- Inkatha Freedom Party- Minority Front- Pan Africanist Congress of Azania- United Christian Democratic Party- United Democratic Movement

1315182024262830323436394142 44

Report of the Audit Committee

Report of the Auditor-General

Financial Statements of the Represented Political Parties’ Fund- Statement of Financial Position - Statement of Comprehensive Income- Statement of Changes in Funds- CashflowStatement- Notes to the Annual Financial Statements

47

50

555657585960

Appendix A: - Detailed Income and Expenditure Statement 71


Management and Administration

The Public Funding of Represented Political Parties Act, 1997 (hereafter referred to as the Act) determined that thefinancialyearoftheFundwillrunfrom1Aprilofeveryyearuntil31Marchinthefollowingyear.

TheChiefElectoralOfficer,subjecttothedirectionoftheCommission,isresponsibleforthemanagementandadministrationoftheFundandisitsAccountingOfficerandChiefExecutiveOfficer.

For each financial year theCommissionmust have records kept ofmoneys received by/or accruing to theFund,allocationsmade/andpaymentstherefromandofexpenditurearisingfromtheallocationofmoneysandacurrentrecordofthecapitalandliabilitiesoftheFund.

Allocationstopartiesaremadeinaccordancewiththeprescribedformula.Anumberofpurposesforwhichsuchmoneysmaynotbeusedbyparties,issetoutintheAct.

Themannerinwhichpartieshavetodealwithandaccountformoneysallocatedtothem,issetoutintheAct.Attheendofeachfinancialyeareverypartymustprepareastatementshowingtheamountreceivedandthepurposesforwhich itwasspentandhavethestatementand itsbooksof recordsofaccountsaudited. TheauditormustexpressanopinionastowhethertheallocatedmoneyswerespentforpurposesnotauthorisedbytheAct.

Theauditor’sreportandtheauditedstatementsmustbesubmittedtotheCommission.

Particularsofallocationsmadetorepresentedpoliticalparties inrespectof the2009/2010financialyearareincludedinthisreport.

Extractsfromthefinancialstatementsofrepresentedpoliticalparties,astheywerefiledwiththeCommission,arepublishedinthisreport.

TheAuditor-General’sreportisunqualifiedbutdrawsattentioninparagraph14tothenon-compliancewiththerelevantlegislationbyvariouspoliticalpartiesinrespectoftheirfinancialstatements.

TheCommissionexpresses itsappreciation to theaccountingofficersofall thepoliticalparties for their co-operation.

Allocations to Represented

Political Parties


ALL

OC

ATIO

NS

TO R

EPR

ESEN

TED

PO

LITI

CA

L PA

RTI

ES F

OR

TH

E YE

AR

EN

DED

31

MA

RC

H 2

010

R92

914

924

.00

was

ava

ilabl

e to

the

nine

teen

Rep

rese

nted

Pol

itcal

Par

ties,

as

follo

ws:

83 6

23 4

31Pr

opor

tiona

l (90

%)

9 29

1 49

2Eq

uita

ble

(10%

)

TAB

LE 1

: T

OTA

L N

UM

BER

OF

MEM

BER

S -

REP

RES

ENTA

TIO

N

LEG

ISLA

TUR

ES

REPRESENTED POLITICAL PARTIES

NAT

ION

AL

ASSE

MBL

YW

ESTE

RN

C

APE

LIM

POPO

EAST

ERN

C

APE

GAU

TEN

GKW

AZU

LU

NAT

ALN

OR

THER

N

CAP

EN

OR

TH

WES

TM

PUM

ALAN

GA

FREE

ST

ATE

TOTA

L

AFR

ICAN

CH

RIS

TIAN

D

EMO

CR

ATIC

PAR

TY3

1N

ILN

IL1

1N

ILN

ILN

ILN

IL6

AFR

ICAN

IND

EPEN

DEN

T C

ON

GR

ESS

NIL

NIL

NIL

1N

ILN

ILN

ILN

ILN

ILN

IL1

AFR

ICAN

NAT

ION

AL

CO

NG

RES

S26

414

4344

4751

1925

2722

556

AFR

ICAN

PEO

PLE’

S

CO

NVE

NTI

ON

1N

ILN

ILN

ILN

ILN

ILN

ILN

ILN

ILN

IL1

AZAN

IAN

PEO

PLE’

S

OR

GAN

ISAT

ION

1N

ILN

ILN

ILN

ILN

ILN

ILN

ILN

ILN

IL1

CO

NG

RES

S O

F TH

E PE

OPL

E30

34

96

15

31

466

DEM

OC

RAT

IC A

LLIA

NC

E67

222

616

74

32

313

2

FREE

DO

M F

RO

NT

PLU

S4

NIL

NIL

NIL

1N

ILN

ILN

ILN

IL1

6

IND

EPEN

DEN

T D

EMO

CR

ATS

42

NIL

NIL

1N

IL2

NIL

NIL

NIL

9

INKA

THA

FREE

DO

M P

ARTY

18N

ILN

ILN

IL1

18N

ILN

ILN

ILN

IL37

MIN

OR

ITY

FRO

NT

1N

ILN

ILN

ILN

IL2

NIL

NIL

NIL

NIL

3PA

N A

FRIC

ANIS

T

CO

NG

RES

S1

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL

1

UN

ITED

CH

RIS

TIAN

D

EMO

CR

ATIC

PAR

TY2

NIL

NIL

NIL

NIL

NIL

NIL

2N

ILN

IL4

UN

ITED

DEM

OC

RAT

IC

MO

VEM

ENT

4N

ILN

IL3

NIL

NIL

NIL

NIL

NIL

NIL

7

TOTA

L40

042

4963

7380

3033

3030

830

NU

MBE

R O

F PA

RTI

ES5

35

76

44

34

Represented Political Parties’ Fund – Annual Report 2009/201010

ALL

OC

ATIO

NS

TO R

EPR

ESEN

TED

PO

LITI

CA

L PA

RTI

ES F

OR

TH

E YE

AR

EN

DED

31

MA

RC

H 2

010

(con

tinue

d)

TAB

LE 2

: T

RA

NSF

ER E

FFEC

TED

TO

TH

E R

EPR

ESEN

TED

PO

LITI

CA

L PA

RTI

ES

REPRESENTED POLITICAL PARTIES

NAT

ION

AL

ASS

EMB

LYPR

OVI

NC

IAL

LEG

ISLA

TUR

ETO

TAL

PAID

APR

-09

PAID

JU

L-09

PAID

OC

T-09

PAID

JA

N-1

0TO

TAL

PAID

RR

RR

RR

RR

AFR

ICAN

CH

RIS

TIAN

DEM

OC

RAT

IC

PAR

TY604,506.73

694,958.35

1 2

99 4

65.0

9 324,866.27

324,866.27

324,866.27

324,866.27

1 2

99 4

65.0

9

AFR

ICAN

IND

EPEN

DEN

T C

ON

GR

ESS

100,751.12

272,262.33

373

013

.46

93,253.36

93,253.36

93,253.36

93,253.36

373

013

.46

AFR

ICAN

NAT

ION

AL C

ON

GR

ESS

56,017,623.84

2,038,623.39

58

056

247.

23

14,514,061.81

14,514,061.81

14,514,061.81

14,514,061.81

58

056

247.

23

AFR

ICAN

PEO

PLE’

S C

ON

VEN

TIO

N100,751.12

- 1

00 7

51.1

2 25,187.78

25,187.78

25,187.78

25,187.78

100

751

.12

AZAN

IAN

PEO

PLE’

S O

RG

ANIS

ATIO

N100,751.12

- 1

00 7

51.1

2 25,187.78

25,187.78

25,187.78

25,187.78

100

751

.12

CO

NG

RES

S O

F TH

E PE

OPL

E6,649,574.05

2,038,623.39

8 6

88 1

97.4

5 2,172,049.36

2,172,049.36

2,172,049.36

2,172,049.36

8 6

88 1

97.4

5

DEM

OC

RAT

IC A

LLIA

NC

E13,299,148.11

2,038,623.39

15

337

771.

50

3,834,442.87

3,834,442.87

3,834,442.87

3,834,442.87

15

337

771.

50

FREE

DO

M F

RO

NT

PLU

S604,506.73

387,402.75

991

909

.49

247,977.37

247,977.37

247,977.37

247,977.37

991

909

.49

IND

EPEN

DEN

T D

EMO

CR

ATS

906,760.10

568,910.98

1 4

75 6

71.0

8 368,917.77

368,917.77

368,917.77

368,917.77

1 4

75 6

71.0

8

INKA

THA

FREE

DO

M P

ARTY

3,727,791.51

513,450.13

4 2

41 2

41.6

5 1,060,310.41

1,060,310.41

1,060,310.41

1,060,310.41

4 2

41 2

41.6

5

MIN

OR

ITY

FRO

NT

302,253.37

288,108.29

590

361

.66

147,590.41

147,590.41

147,590.41

147,590.41

590

361

.66

PAN

AFR

ICAN

IST

CO

NG

RES

S100,751.12

- 1

00 7

51.1

2 -

- -

- -

UN

ITED

CH

RIS

TIAN

DEM

OC

RAT

IC

PAR

TY403,004.49

178,267.00

581

271

.49

145,317.87

145,317.87

145,317.87

145,317.87

581

271

.49

UN

ITED

DEM

OC

RAT

IC M

OVE

MEN

T705,257.85

272,262.33

977

520

.19

244,380.05

244,380.05

244,380.05

244,380.05

977

520

.19

TOTA

LS 8

3 62

3 43

1.27

9

291

492

.36

92

914

923.

64


EXPE

ND

ITU

RE

BY R

EPR

ESEN

TED

PO

LITI

CAL

PAR

TIES

for t

he y

ear e

nded

31

Mar

ch 2

010

Afr

ican

C

hris

tian

Dem

ocra

tic

Part

y (A

CD

P)

Afr

ican

In

depe

nden

t C

ongr

ess

AIC

)

Afr

ican

N

atio

nal

Con

gres

s (A

NC

)

Afr

ican

Pe

ople

’s

Con

vent

ion

(APC

)

Aza

nian

Pe

ople

’s

Org

anis

atio

n (A

ZAPO

)

Con

gres

s of

th

e Pe

ople

(C

OPE

)

Dem

ocra

tic

Alli

ance

(DA

)

Free

dom

Fr

ont P

lus

(FF)

Inde

pend

ent

Dem

ocra

ts

(ID)

Inka

tha

Free

dom

Pa

rty

(IFP)

Min

ority

Fr

ont (

MF)

Pan

Afr

ican

ist

Con

gres

s (P

AC

)*

Uni

ted

Chr

istia

n D

emoc

ratic

Pa

rty

(UC

DP)

Uni

ted

Dem

ocra

tic

Mov

emen

t (U

DM

)

Tot

al

R

R

R

R

R

R

R

R

R

R

R

R

R

R

R

Allo

catio

ns fo

r the

yea

r 3

73 0

13

58

056

247

100

751

1

00 7

51

8 6

88 1

97

15

337

772

991

909

1

475

671

4

241

242

5

90 3

62

100

751

5

81 2

71

977

520

9

2 91

4 92

2

Uns

pent

am

ount

i.r.o

. 20

08/2

009

- -

- -

- -

- -

- -

- -

( 4

59)

( 71

432

)

Am

ount

una

ccou

nted

fo

r i.r.

o. 2

008/

2009

-

- (

22 6

73)

- -

- -

- -

- -

- -

( 22

673

)

Tota

l pai

d 3

73 0

13

58

056

247

78

078

100

751

8

688

197

1

5 33

7 77

2 9

91 9

09

1 4

75 6

71

4 2

41 2

42

590

362

5

81 2

71

977

061

9

2 72

0 06

6

Less

: Tot

al E

xpen

ditu

re

( 35

9 42

4) (5

8 27

6 36

7) (

76 7

73)

( 10

0 45

3) (7

799

048

) (1

5 41

2 22

1) (

833

641)

(2 3

64 2

07)

(4 2

12 8

98)

( 56

2 63

8) -

( 57

6 00

4) (

975

899)

(92

788

624)

Pers

onne

l exp

endi

ture

5

035

4

1 67

6 64

7 1

000

2

3 57

8 1

323

889

1

0 37

9 60

8 2

80 5

13

674

288

1

664

211

5

7 85

0 3

80 0

78

- 5

6 86

4 66

3

Acco

mm

odat

ion

expe

nditu

re

1 7

07 2

19

77

3 -

301

411

-

15

368

- -

- -

2 0

26 4

64

Trav

el e

xpen

ditu

re

4 2

00

2 4

39 8

21

- -

864

200

7

53 8

06

44

873

- 5

88 2

21

- -

- 4

777

841

Arra

ngem

ents

of

mee

tings

and

rallie

s 3

9 13

5 1

917

229

-

- 3

368

775

7

763

9

7 39

9 -

209

720

-

- 1

30 0

00

5 8

50 2

26

Adm

inis

trativ

e ex

pend

iture

2

36 3

83

9 6

37 3

49

- 7

6 87

5 6

61 5

46

4 2

71 0

44

321

350

3

49 5

74

1 5

17 2

10

156

980

1

95 9

26

25

282

17

848

810

Prom

otio

n an

d pu

blic

atio

ns

74

671

630

335

7

5 00

0 -

1 2

24 6

42

- 7

4 13

8 1

340

345

2

01 0

57

290

216

-

820

617

5

008

197

Fixe

d as

set e

xpen

ditu

re

- 2

67 7

67

- -

54

585

- -

- 3

2 47

9 5

7 59

2 -

- 4

12 4

23

Uns

pent

mon

ey a

t the

en

d of

yea

r 1

3 58

9 (

220

120)

1 3

05

29

8 8

89 1

49

( 74

449

) 1

58 2

68

( 88

8 53

6) 2

8 34

4 2

7 72

4 -

5 2

67

1 1

62

( 68

558

)

Plus

: Int

eres

t and

oth

er

inco

me

rece

ived

-

13

858

- -

25

130

77

160

2 7

00

4 2

95

2 4

30

- -

- -

133

563

Surp

lus

/(defi

cit)

for

the

year

1

3 58

9 (

206

262)

1 3

05

29

8 9

14 2

79

2 7

11

160

968

(

884

241)

30

774

27

724

- 5

267

1

162

6

5 00

5

Not

es:

–Twopoliticalpartyfailedtosubmitauditreportandauditedannualfinancialstatementsfortheyearending31March2010withinthestatutorydeadline(onorbefore30June2010)asprescribedinsection9(3)ofthePublicFundingofRepresentedPoliticalPartiesAct103,

1997.TheyareAP

CandAIC

–Twopoliticalpartiesfinancialstatementsdidnotcom

plywiththedisclosurerequirementsassetoutinsection6(3)ofthePublicFundingofR

epresentedPoliticalPartiesAct103,1997,readwithsection8(1)ofthePu

blicFundingofRepresentedPoliticalPartiesRegulations,

1998,thatrequirethefinancialstatementstobepreparedshowingtheam

ountsspentforpurposesclassifiableunderspecificdescriptivecategories.

Theyareasfollows:IFPandMF.

–O

nepoliticalpartywasnotfundedduringthe2009/2010duetofailuretosubmittheauditedfinancialstatementsinrespectof2007/2008and2008/2009.ThepartyisPAC

–O

nepoliticalpartyfailedtoopenseparateBankAccount.ThepartyisCOPE

* Pa

rty'

s fu

ndin

g su

spen

ded

durin

g fin

anci

al y

ear 2

009/

2010

Extracts Of The RepresentedPolitical Parties’ Statements

Published In This Report As Filed With Commission


REPRESENTED POLITICAL PARTY

AFRICAN CHRISTIAN DEMOCRATIC PARTY (ACDP) BALANCE SHEET as at 31 March 2010 2010 2009 Notes R RASSETS

Non-Current assetsProperty, plant and equipment 2 29 651 53 064

Current assetsTrade and other receivables 3 15 719 88 601Cash and cash equivalents 4 123 980 22 139 699 88 623 Total assets 169 350 141 687 EQUITY AND LIABILITIES

Capital and reserves Retained earnings 121 468 124 037

Current liabilitiesTrade and other creditors 5 47 882 17 650

Total equity and liabilities 169 350 141 687

Certified by Accounting Officer: Mr. S.N. SwartAudited by: PriceWaterhouseCoopersAudit Opinion: Qualified

CACH FLOW STATEMENT for the year ended 31 March 2010 2010 2009 Notes R RCash flow from operating activitiesCashflowfromoperatingactivities 11 119 369 (278 869)

Cash flow from investing activitiesAcquisitionoffixedassets (6000) (20935)Scrappingoffixedassets 2651 -Interest received 7 990 29 734Netcashgenerated/(used)ininvestingactivities 4 641 8 799

Net (decrease)/increase in cash and cash equivalents 124 011 (270 070)Cash and cash equivalents at beginning of year (29) 270 041Cash and cash equivalents at end of year 4 123 981 (29)



AFRICAN CHRISTIAN DEMOCRATIC PARTY (ACDP)INCOME STATEMENT for the year ended 31 March 2010 2010 2009

R RINCOME Allocation from fund 1 228 492 2 177 425Interest received 7 990 29 734 1 236 482 2 207 159 Less: EXPENSES 1 239 051 2 373 529 Accommodation 1 693 1 050Arrangements of meetings and rallies 80 205 249 452Meals and refreshments 484 46 608Rent – conference venues 59 721 112 414Rent- equipment - 1 100Security 20 000 -Travel - 23 400Trainingworkshops - 65930

Administration 399 291 577 453Audit fees 36 265 23 370

- audit fees current year 28 215 23 370- under provision previous year 8 050 -

Bad Debts 5 645 - Bank charges 8 879 13 232Cleaning materials 4 800 4 780Courier services 1 199 2 353Depreciation 26 762 39 657Insurance 5 606 5 076Membership and licenses - 178Rental 148 253 206 983- Headoffice 64086 57540- Provincialoffice 36252 95706- Otherofficespace 17931 14400- Officeequipment 29984 39337

Repairs and maintenance 8 449 15 232Stationery 13 944 63 062Telephone and postage 97 073 170 139Loss on scrapped assets 2 651 -Water and electricity, rates and taxes 39 765 33 391



AFRICAN CHRISTIAN DEMOCRATIC PARTY (ACDP)

INCOME STATEMENT for the year ended 31 March 2010 2010 2009

R R

Promotions and publications 277 176 650 247Advertisements 70 441 194 618Entertainment expenditure 366 1 092Printing 199 000 311 823Promotions 7 369 142 714

Personnel Expenditure 397 966 579 471Salaries 375 969 551 691Skills Development Levy 4 285 5 673Telephoneallowance 13427 16434Unemployment Insurance fund 4 285 5 673

Travel 82 720 315 856

Net loss for the year (2 569) (166 370)



AFRICAN INDEPENDENT CONGRESS (AIC)BALANCE SHEET as at 31 March 2010

2010Notes

ASSETS

Non-current assets Furnitureandofficeequipment 4 23522 Current assets Cash and cash equivalents 13 Total assets 23 535 CAPITAL ACCOUNT AND LIABILITIES Capital AccountSurplus for the year 13 590

Current liabilities Accounts payables 9 945 TOTAL EQUITY AND LIABILITIES 23 535

Certified by Accounting Officer: Mr MP GaloAudited by: Nicholson & Company Audit Opinion: Unqualified



AFRICAN INDEPENDENT CONGRESS (AIC)

INCOME STATEMENT for the year ended 31 March 2010 2010 Note R

INCOME Grants received - IEC 373 014

EXPENDITURE (359 424)

Personnel Expenses Staff stipends 5 035

Travel 4 200Car hire 4 000Petrol 200

Arrangement of Meetings and Rallies 39 135Hire of hall 150Conference facilities 4 785Hire of taxies and other transport 22 000Catering 12 200 Administrative 236 383Auditor’s Remuneration 3 9 945Bank charges 2 074Depreciation 4 811Electricity 2 050Legal expenses 135 743Officerentals 85760Telephone, faxes and photocopies 0

Promotions and Publications 74 671T-shirts 42 000Posters 32 671 Surplus for the year 13 590



AFRICAN NATIONAL CONGRESS (ANC)

BALANCE SHEET as at 31 March 2010 2010 2009 Notes R RASSETS

Non-current assets 654 232 921 999Furniture and equipment 3 630 423 851 526Intangible assets 4 23 809 70 473 Current assets 7 167 35 260Cash and cash equivalents 5 7 167 4 395 Trade and other receivables 6 - 30 865 Total assets 661 399 957 259 EQUITY AND LIABILITIES

EquityAccumulated surplus 491 399 697 661

Current liabilities Trade and other payables 7 170 000 259 598

TOTAL EQUITY AND LIABILITIES 661 399 957 259 Certified by Accounting Officer: Mr. M PhosaAudited by: Deloitte & Touche Audit opinion: Unqualified

CACH FLOW STATEMENT for the year ended 31 March 2010 2010 2009 Notes R ROPERATING ACTIVITIESCash received from the Independent Electoral Commission 58 056 247 61 113 511Cash paid to suppliers and employees (58 067 333) (61 741 564) Cash(utilisedin)/generatedbyoperations 8 (11 086) (628 053)Interest received 13 858 47 293Net cash generated from (utilised in) operating activities 2 772 (580 760)

INVESTING ACTIVITIESAdditions to furniture and equipment - (59 702)Net cash utilised in investing activities - (59 702) NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS 2 772 (640 462)Cash and cash equivalents at beginning of year 4 395 644 857CASH AND CASH EQUIVALENTS AT END OF YEAR 5 7 167 4 395





R R

INCOME 58 070 105 61 160 804Grants received 58 056 247 61 113 511Interest received 13 858 47 293

EXPENDITURE 58 276 367 60 823 713

Personnel expenditureSalaries 41 676 647 33 103 568

Accommodation expenditure Accommodation and meals 1 707 219 2 219 589

Travel expenses 2 439 821 3 881 251Air travel – local 1 796 428 2 494 430 Air travel – international 59 851 1 124 425Subsistenceallowance–local -130Private transport – reimbursement - 2 642Parking fees and toll roads - 174 Car rental 583 542 259 450

Arrangement of meeting and rallies 1 917 229 5 376 959Catering - 1 719 034 Hiring - buses and taxis 1 686 148 562 084 - conference venues - 1 909 700Hiringwirefence 99180 -Decorations - 493 566Equipment rentals – public addressing - 332 736Equipment rentals – other 131 901 148 200Training - 211 639




INCOME STATEMENT for the year ended 31 March 2010

2010 2009

R REXPENDITURE (continued)

Administrative – general 8 604 754 8 610 125Cleaning 806 963 797 030 Communication expenses - cell phones 912 411 689 779 - telephone fax modem 2 872 836 1 237 674Consultation fees 264 756 1 482 800Courier services 62 754 219 834Maintenance and repairs - buildings 207 550 90 644 - motor vehicles 18 404 16 848Security services 3 026 131 3 189 055Server expenses - 318 783Stationery 209 013 201 510Website maintenance 223 936 366 168

Administrative – other 1 032 595 965 273Audit costs – Independent Electoral Commission 226 180 167 600Bank charges 986 1 678Fuel - 14 679Improvement on Property - 114 000Internet Maintenance 77 905 3 221Interest Paid - 153Legal costs 58 128 - RenewalofLicenses 45964 30096Rental-officeplant 10230 56257 - parking 251 888 230 400Services rendered 57 353 322 634Staff training - 2 180Subscription fees 30 865 22 375OfficeCatering 212387 -Rental-OfficeEquipment 60709 -





2010 2009


Promotions and publications 630 335 6 388 117Advertisements - other 3 000 2 000 000Advertisements-Newspapers 40695 3232000Books/magazines - -Hire of sound system 118 058 61 929Photographic costs 47 937 3 420Press conference and media 144 073 194 105Printing and production - books - 8 883 - pamphlets 276 572 708 875 - posters - 90 216

Depreciation and amortisation 267 767 278 831

(Deficit)/Surplus for the year (206 262) 337 091



AFRICAN PEOPLES CONVENTION (APC)

BALANCE SHEET as at 31 March 2010 2010 2009 Notes R RASSETSCurrent assets Cash and cash equivalents 5 4 340 3 035

Total assets 4 340 3 035 EQUITY AND LIABILITIES

Accumulated funds 4 340 3 035

Total equity and liabilities 4 340 3 035

Certified by Accounting Officer: Ms. M LethaleAudited by: Mokwena & Partners Audit Opinion: Unqualified

CACH FLOW STATEMENT for the year ended 31 March 2010

2010 2009 R RCash flows from operating activities Cash receipts from the IEC and other receipts 78 078 894 153Cash paid to suppliers and employees (76 773) (918 675)Cashgenerated/(utilised)byoperations 1 305 (24 522)Netcashflowsfromoperatingactivities 1 305 (24 522)

Cash flows from investing activities Netcashgenerated/(used)byinvestingactivities - -

Cash flows from financing activities Netcashgeneratedbyfinancingactivities - - Netincrease/(decrease)incashandcashequivalents 1305 (24522)Cash and cash equivalents at beginning of year 3 035 27 557Cash and cash equivalents at end of year 4 340 3 035



AFRICAN PEOPLES CONVENTION (APC)


R R

REVENUE 78 078 894 153IEC allocation 78 078 894 153

EXPENSES (76 773) (918 775)Accommodation - 72 123Administration - 391 301Arrangement of meetings and rallies - 393 776Personnel 1 000 3 200Promotions and publications 75 000 -Travel expenses - 58 375Bank charges 773 -

Operating(deficit)/surplus 1 305 (24 622)



AZANIAN PEOPLE’S ORGANISATION (AZAPO)

BALANCE SHEET as at 31 March 2010 2010 2009 Note R R

ASSETS 298 288 Non-current assets - 2

Tangible Assets - 2 Current assets 298 286 Cash at Bank 298 288 Total assets 298 288 EQUITY AND LIABILITIES

Capital and reserves 298 -Accumulated Funds 298 - Current liabilities Trade and other payables - - Total equity and liabilities 298 288

Certified by Accounting Officer: Mr. RD MonnakgotlaAudited by: Abakah & Co Chartered Accountants Audit Opinion: Unqualified



AZANIAN PEOPLE’S ORGANISATION (AZAPO)

INCOME STATEMENT for the year ended 31 March 2010 2010 2009 Note R R

TOTAL INCOME 100 751 95 786

Grant/Allocationreceived 100751 95786 LESS: EXPENDITURE 100 453 108 055

Administration 76 875 55 849Audit fees 4 500 4 500 Accountingofficer’sfee - 1480Bank charges 2 490 3 129E-mail and internet service 1 960 2 520Repairstoofficeequipment 259 3174Rent,water&lights 53766 24731Rentalofofficeequipment 8485 -Printing and stationery - 270Sundry 1 320 -Telephones 4 095 16 045

Personnel 23 578 50 906Salaries 23 578 50 906 Travelling - 1 300Local - 1 300 NET SURPLUS/(DEFICIT) FOR THE YEAR 298 -12 269



CONGRESS OF THE PEOPLE (COPE)

BALANCE SHEET as at 31 March 2010 2010

Note(s) R

ASSETS Non-current assetsProperty plant and equipment 2 198 863 Current assets Cash and cash equivalents 3 1 080 408 Total assets 1 279 271 EQUITY AND LIABILITIES

EquitySurplus Funds 914 281

Liabilities

Current liabilities Trade and other payables 4 364 990 TOTAL EQUITY AND LIABILITIES 1 279 271 Certified by Accounting Officer: Ms. H NdudeAudited by: Besalca Incorporated Audit Opinion: Unqualified

CASH FLOW STATEMENT for the year ended 31 March 2010 Note(s) 2010 RCash flows from operating activities Cash generated from operations 7 1 308 726Interest income 25 130

Net cash from operating activities 1 333 856

Cash flows from investing activities Purchase of property, plant and equipment 2 (253 448) Total cash movement for the 18 months 1 080 408Cash at the beginning of the 18 months -

Total Cash at the end of the 18 months 3 1 080 408



CONGRESS OF THE PEOPLE (COPE)


INCOME 8 713 328

Subsidy Income IEC 8 688 197 Interest Income 25 130

EXPENDITURE 7 799 047 Administration Expenses 661 546Accounting Fees 49 700Audit Fees 32 000Bank charges 110 208 Cleaning 12 761Computer Expenses 80 965Telephone&Fax 375912

Promotions and publications 1 224 642

Arrangement of meetings and rallies 3 368 775Conferences 1 637 810Consulting Fees 447 382Security Services 424 478Printing&Stationery 496169Catering 362 934

Salaries & Wages 1 323 889

Travel 864 200

Accommodation 301 411

Depreciation 54 585

Surplus for the year 914 281



DEMOCRATIC ALLIANCE (DA)

STATEMENT OF FINANCIAL POSITION as at 31 March 2010 2010 2009 Notes R RASSETS

Non-Current Assets Property, plant and equipment 2 328 327 328 327Current Assets Otherfinancialassets 3 - 10000Accounts receivable 4 8 482 -Cash and cash equivalents 429 977 109 343 438 459 119 343Total Assets 438 787 119 670 EQUITY AND LIABILITIES

Equity Accumulateddeficit (21 015) (23 728)

LiabilitiesCurrent Liabilities Accounts payable 5 459 802 143 398Total Equity and Liabilities 438 787 119 670 Certified by Accounting Officer: Mr. J MoakesAudited by: BBR Van Der Grijp Audit Opinion: Unqualified

STATEMENT OF CACH FLOW for the year ended 31 March 2010 2010 2009 Notes R RCash flows from operating activitiesCash generated from operations 11 345 088 (291 449)Interest income 77 160 51 175Finance costs - (47)Net cash from operating activities 422 248 (240 321)

Cash flows from investing activitiesPurchase of property, plant and equipment 2 (111 614) - Repaymentsofotherfinancialassets 10 000 - Net cash from investing activities (101 614) - Total cash movement for the year 320 634 (240 321)Cash at beginning of the year 109 343 349 664Total cash at end of the year 4 429 977 109 343



DEMOCRATIC ALLIANCE (DA)

STATEMENT OF COMPREHENSIVE INCOME for the year ended 31 March 2010 2010 2009

Notes R RINCOME Grants received from Independent Electoral Commission 6 15 337 772 10 538 737Interest received 8 77 160 51 175 1.3 15 414 931 10 589 912EXPENDITURE Personnel expenditureInsurance: UIF 69 082 35 130Medical funds 307 739 187 460Pension funds 374 716 278 733Recruitment of staff 13 558 49 626Salaries 9 005 917 5 196 012Staff gifts 2 680 285Staff training 605 916 87 901 10 379 608 5 835 147

Travel Expenditure 753 806 739 867 Administrative expenditureAuditor’s remuneration 10 37 934 24 624Bank charges 9 554 6 857Communication expenditure: telephone and fax 1 062 297 733 644Consultancy fees 201 863 153 936Courier and postage services 71 605 68 378Depreciation 111 613 -Finance costs - 47Internet 421 166 181 417Loss on disposal of asset - 1Maintenance and repairs: building 628 883 72 791Maintenance and repairs: computers 356 051 419 383Maintenance and repairs: equipment 68 943 65 137Newspapers,booksandpublications 27863 50963Printing and stationery 79 914 331 972Refreshments and sundries 38 588 52 162Rent and electricity 484 492 638 462Rentalofficeequipment 572362 1341932Security expenses 12 666 7 649Skills development levies 85 252 46 756 4 271 044 4 196 111

Arrangement of meetings and rallies 7 763 10 251Meetings and rallies 7 763 10 251

Total expenditure 15 412 220 10 781 375Total Comprehensive income (deficit) for the year 7 2 711 (191 463)



FREEDOM FRONT PLUS (FF)


NON-CURRENT ASSETSEquipment, furniture and motor vehicle 2 1 1

CURRENT ASSETS Cash and cash equivalents 3 26 598 20 223 TOTAL ASSETS 26 599 20 224 RESERVE AND LIABILITIES CAPITAL AND RESERVESUnutilized(loss)/surplus 4 (730) (161698)

CURRENT LIABILITIESCreditors 27 329 181 922 TOTAL RESERVE AND LIABILITIES 26 599 20 224

Certified by Accounting Officer: Col PD UysAudited by: Brink & BrinkAudit Opinion: Unqualified

CACH FLOW STATEMENT for the year ended 31 March 2010

2010 2009 Notes R R

CASH FLOW FROM OPERATING ACTIVITIES 6 375 (41 869)Cash(utilised)/generatedfromoperations 8 3679 (52161)Interest paid (4) -Interest received 2 700 10 292

Net(decrease)/increaseincashandcashequivalents 6375 (41869)

Cash and cash equivalents at beginning of period 20 223 62 092Cash and cash equivalents at end of year 26 598 20 223



FREEDOM FRONT PLUS (FF)

INCOME STATEMENT for the year ended 31 March 2010 2010 2009 R R INCOME Allocation from fund 991 909 1 496 340 EXPENDITURE Administration costs 833 637 1 730 423

- Audit fees 10 643 13 234- Bank charges 1 682 1 653- Computer expenses 1 859 -- Insurances 13 705 9 745- Maintenance&cleaning 11364 11586- Rent of property, levies and municipal costs 46 906 59 497- Staff teas and expenses 8 880 -- Stationery, postage and couriers 2 685 12 700- Subscriptions 37 772 23 813- Telephone,fax&internet 52784 128709

Accommodation 15 368 7 980Arrangement of meetings and rallies 97 399 56 249Administration fees paid to branches 133 066 210 995Legal fees - 16 792Personnel expenditure 280 513 560 632Promotions and publications 74 138 448 057Purchase of equipment 2 - 21 020Travelling expenses 44 873 147 761

Surplusfortheyear/(shortage) 158272 (234083)Plus Interest received 2 700 10 292Less Interest paid (4) - NetSurplus/(Shortage)fortheyear) 160 968 (223 791)



INDEPENDENT DEMOCRATS (ID)

STATEMENT OF FINANCIAL POSITION as at 31 March 2010 2010 2009 Note(s) R R

ASSETSNon-Current AssetsProperty plant and equipment 2 43 456 76 048

Current AssetsCash and cash equivalents 3 429 -

Total Assets 43 885 76 048 EQUITY AND LIABILITIESEquity Retained surplus (1 638 737) (754 496)

LiabilitiesNon-Current LiabilitiesFinance lease obligation 4 62 622 89 494

Current LiabilitiesFinance lease obligation 4 26 669 23 632Trade and other payables 5 1 593 331 716 482Bank overdraft 3 - 936 1 620 000 741 050Total Liabilities 1 682 622 830 544Total Equity and Liabilities 43 885 76 048 Accounting Officer: Mr. MH HoosenAudited by: C2M Chartered AccountantsAudit Opinion: Unqualified

STATEMENT OF CACH FLOWS for the year ended 31 March 2010 2010 2009 Note(s) R RCash flow from operating activitiesCash generated from operations 9 20 905 13 455Interest income 4 295 5 472Net cash from operating activities 25 200 18 927

Cash from financing activitiesFinance lease payments (23 835) (20 217)

Total cash movement for the year 1 365 (1 290)Cash at the beginning of the year (936) 354Total cash at end of the year 3 429 (936)



INDEPENDENT DEMOCRATS (ID)

INCOME STATEMENT For the year ended 31 March 2010 2010 2009

Note(s) R RRevenueRepresented Political Party Fund allocation 1 475 671 1 249 562

Other incomeInterest received 7 4 295 5 472

Operating expenses Administration 349 574 1 31 389Arrangement of meetings and rallies - 2 595Personnel expenditure 674 288 1 058 331Promotions and publications 1 340 345 447 037 2 364 207 1 639 352Surplus / (shortfall) for the year (884 241) (384 318)



INKATHA FREEDOM PARTY (IFP)

BALANCE SHEET as at 31 March 2010 2010 2009 Note(s) R R

ASSETSNon-Current AssetsProperty, plant and equipment 2 324 322

Current AssetsCash and cash equivalents 3 30 267 -TOTAL ASSETS 30 591 322 EQUITY AND LIABILITIESEQUITY Accumulatedprofit(loss) 30 591 (183)

LIABILITIESCurrent LiabilitiesBank overdraft 3 - 505

TOTAL EQUITY AND LIABILITIES 30 591 322 Certified by Accounting Officer: Mr. K WorthingtonAudited by: Nolands Richmond IncorporatedAudit Opinion: Unqualified

CACH FLOW STATEMENT for the year ended 31 March 2010 2010 2009 Note(s) R RCash flows from operating activities Cash generated from operations 4 60 823 436 231Interest income 2 430 16 397

Net cash from operating activities 63 253 452 628

Cash flows from investing activities Additions to property, plant and equipment 2 (32 481) (463 516)

Net cash movement for the year 30 772 (10 888)Cash and cash equivalents at the beginning of the year ( 505) 0 383Cash and cash equivalents at end of the year 3 30 267 (505)





R R

Revenue 4 241 242 5 403 084

Operating expenses (4 212 898) (5 437 675)

Personnel expenditure 1 664 211 960 672Salaries: employees 1 657 534 832 457Pension contributions - 105 365Training: computer and other 6 677 22 850 Travel expenditure 588 221 821 497Air travel – internal 44 895 136 573Car rental 201 483 86 837Fuel and maintenance 16 163 1 270Hotel expenditure 255 388 448 553Parking fees and toll roads 66 892 104 283Public transport 3 400 43 981

Arrangement of meeting and rallies 209 720 714 132Food and beverages 61 310 132 673Hiring - conference venues 30 870 101 748 Hiring - buses and taxis 108 631 354 499Renting equipment – public address - 65 548Renting equipment – other 2 300 16 853Security 6 609 42 811






Administration expenditure 1 517 210 2 131 885Auditors renumeration 25 685 34 236Bank charges 6 181 5 830Cleaning - 11 889Communication expenditure: telephone, fax, modem 169 051 126 510Entertainment 8 708 77 122Legal costs 193 811 776 726Maintenance and repairs - buildings 62 700 5 641Maintenance and repairs - computers 21 205 11 894Maintenance and repairs - equipment 42 657 102 833Maintenance and repairs - motor vehicles 42 581 19 994Rent paid 44 032 526 646Rental:officeequipment 34906 68326Stationery 113 727 192 867Subscriptions 12 890 5 508Utilities 739 076 165 863

Promotions and publications 201 057 345 997Advertising 38 975 -Printing and production: posters, books and pamphlets 76 530 201 978Promotional T shirts, badges, keyrings and caps 85 552 144 019 Depreciation and amortisation 32 479 463 492

Operating profit (loss) 28 344 (34 591)

Investment revenue 2 430 16 397

Profit (loss) for the year 30 774 (18 194)



MINORITY FRONT (MF)

BALANCE SHEET as at 31 March 2010 2010 2009 Notes R RASSETSNon-current assetsEquipment, furniture and motor vehicle 2 81 36

Current assets Receivables and prepayments 3 - -Cash and cash equivalents 4 44 893 - 44 893 -

Total assets 44 974 36 RESERVE AND LIABILITIES

ReserveUnutilisedsurplus/(Deficit) 5 ( 9 838) (37 562)

Current liabilitiesTrade and other payables 6 54 811 37 542Bank overdraft 4 - 55 54 811 37 598

Total reserve and liabilities 44 974 36

Certified by Accounting Officer: Ms. S. RajbansiAudited by: Logie Govender & Co Audit Opinion: Unqualified

CACH FLOW STATEMENT for the year ended 31 March 2010 2010 2009 Notes R RCASH FLOW FROM OPERATING ACTIVITIES Cashgenerated/(utilised)fromoperations 8.1 97915 (12328)Interest received - -Interest paid - -Netcashinflow/outflowfromoperatingactivities 97915 (12328) CASH FLOW FROM INVESTING ACTIVITIES (52 967) (10 223)Purchase of equipment, furniture and motor vehicles (52 967) (10 223)

Netincrease/(decrease)incashandcashequivalents 44948 (22551)Cash and cash equivalent at beginning of period (55) 22 496Cash and cash equivalent at end of year 44 893 (55)



MINORITY FRONT (MF)

INCOME STATEMENT for the year ended 31 March 2010 2010 2009 R R INCOME 590 362 617 921 Allocation from Fund 590 362 617 921 EXPENDITURE 562 638 642 173Personnel expenditure 57 850 35 200Salaries: Employees 57 850 35 200

Administrative expenditure 156 980 130 168Communication expenditure: Telephone, fax, modem 20 796 18 437Communication expenditure: Cell phones 13 625 18 380Maintenance and repairs: furniture 7 970 -Stationery - 22 618Entertainment expenditure: Meetings and rallies 22 134 10 450Audit cost 15 390 15 390Bank charges 5 595 2 944Overdraft fees 1 -Workshops 50 590 11 250Accounting fees 1 880 1 710Social services - 2 000Rental–Provincialoffice 18999 26988

Promotion and publications 290 216 466 592Advertisement–Newspapers 84435 202688Advertisement – Other 56 787 57 049Promotions–Tshirts,caps,flags - 2280Promotional material 5 780 61 800Printing and production of advertisements 143 214 142 774

Fixedassetswrittendown 57 592 10 213Surplus/(deficit) for the Year 27 724 (24 252)



PAN AFRICANIST CONGRESS OF AZANIA (PAC)

AUDITED ANNUAL FINANCIAL STATEMENTS for the year ended 31 March 2010

Funding suspended during 2009/2010



UNITED CHRISTIAN DEMOCRATIC PARTY (UCDP)

STATEMENT OF FINANCIAL POSITION as at 31 March 2010 2010 2009 Note R R

ASSETS

Non-current assets 48 48 Equipment,furnitureandfittings 2 48 48 Current assets 2 986 575

Cash and cash equivalents 3 2 986 575 Total Assets 3 034 623 RESERVE AND LIABILITIES

Reserve 3 034 (2 233)Unutiliseddeficit 4 3034 (2233) Current liabilities - 2 856

Trade and other payables 5 - 2 856

Total Reserve and Liabilities 3 034 623 Certified by Accounting Officer: Mr. IR MahumaAudited by: Walker Daly IncorporatedAudit Opinion: Unqualified

STATEMENT OF CACHFLOWS for the year ended 31 March 2010 2010 2009 Note R RCASH FLOWS FROM OPERATING ACTIVITIESCashgeneratedbyoperations 8.1 2 411 (205)

NET CASH FLOW FROM OPERATING ACTIVITIES 2 411 (205) NET (DECREASE) / INCREASE IN CASH AND CASH EQUIVALENTS 2 411 (205)CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 575 780CASH AND CASH EQUIVALENTS AT END OF YEAR 2 986 575



UNITED CHRISTIAN DEMOCRATIC PARTY (UCDP)

STATEMENT OF INCOME AND EXPENSES for the year ended 31 March 2010 2010 2009

R R

INCOME 581 271 744 194Allocation from fund 581 271 744 194 EXPENDITURE 576 004 744 086Personnel expenditure 380 078 388 332

- Salaries employees 351 516 349 654- Pay as you earn (PAYE) 22 313 30 122-Casualwages - 1260- Unemployment Insurance Fund (UIF) 6 249 7 296

Travel expenditure - 34 593

- Pool vehicles - 34 593

Administrative expenditure 195 926 254 816- Communication expenditure: Telephone, fax, modem 76 055 66 985- Courier services 9 130 5 010- Insurances - 15 440- Interest paid - 1- Maintenance and repairs: Equipment 547 12 271- Maintenance and repairs: Computer 2 485 14 949- Stationery 6 774 29 333- Entertainment expenditure 19 180 3 631- Audit and accounting fees 33 074 57 100- Bank charges 6 690 10 054- Cleaning - 2 168- Security services 4 017 3 947-Rentalofficeequipmentandconsumables 37974 32494- Water and lights, rates and taxes - 1 436

Party development - 66 346-Workshops,meetings&rallies - 66346

Surplus for the year 5 267 108



UNITED DEMOCRATIC MOVEMENT (UDM)


Non-current assets Equipment, furniture and motor vehicles 2 - - Current assets 2 021 459

Receivables and prepayments 3 - -Cash and cash equivalents 4 2 021 459 2 021 459 RESERVE AND LIABILITIES

Reserve Unutilisedsurplus/(deficit) 5 1621 459 Current liabilities Trade and other payables 6 400 - 2 021 459 Certified by Accounting Officer: Mr. BH HolomisaAudited by: Fourie + BothaAudit Opinion: Unqualified CACH FLOW STATEMENT for the year ended 31 March 2010 2010 2009 Notes R RCASH FLOW FROM OPERATING ACTIVITIESCashgeneratedfromoperations 9.1 1 562 (1 678)Interest received - -Interest paid - 1Netcashflowappliedinoperatingactivities 1 562 (1 679) CASH FLOW FROM INVESTING ACTIVITIES Disposal of equipment, furniture and motor vehicles - -Net increase in cash and cash equivalents 1 562 (1 679)

Cash and cash equivalents at beginning of period 459 2 138Cash and cash equivalents at end of period 2 021 459



UNITED DEMOCRATIC MOVEMENT (UDM)


R R

INCOME 977 061 1 611 975Allocation from fund 977 061 1 611 975

EXPENDITURE 975 899 1 613 654Personnel expenditure - 8 000Salaries: Employees - 8 000 Accommodation expenditure - -

Travel expenditure - -

Arrangement of meetings and rallies 130 000 200 000Conference facilitators 130 000 200 000

Administrative expenditure 25 282 159 766Communication expenditure: Telephone, fax and modem 2 388 2 388Legal costs 22 000 156 361Bank charges 894 1 016 Interest paid - 1

Promotion and publication 820 617 1 245 888Advertisement–Newspapers - 120000Promotions–TShirts,caps,flags - 277000Printing and production of pamphlets 400 000 53 300Printing and production of posters 320 617 322 588Printing and production of billboards 100 000 63 000Press conference and media - 110 000

Surplus/(Deficit for the year 1162 (1 679)

Report of the Audit Committee


RepoRt of the Audit Committee foR the finAnCiAl yeAR of the

RepResented politiCAl pARties’ fund estAblished in teRms of ACt 103 of 1997 foR the peRiod ended 31 mARCh 2010

The Audit Committee is pleased to present its report for the financial year of the Represented Political Parties’ Fund ended 31 March 2010.

1. Audit Committee Members and Attendance

TheAuditCommitteeconsistedofthreememberslistedhereunderandmeetsatleasttwiceperannumasperitsapprovedtermsofreference.Duringthecurrentfinancialyearsixmeetingswereheld.

Name of Member 25-Jan-11 14-Sep-10 29-Jul-10 8-Jun-10 31-May-10 28-May-10

Mr. J. F. J. Scheepers (Chairperson)

Ms Karabo Rapoo

Ms Carina Wessels

TheExternalAuditors,InternalAuditors,AccountingOfficer(ChiefElectoralOfficer),ChiefFinancialOfficerandChiefInformationOfficerallhavestandinginvitationstoAuditCommitteemeetingsandhaveattendedmostofthemeetingsduringtheyearunderreview.

2. Audit Committee Responsibility

The Audit Committee reports that it has adopted appropriate formal terms of reference as its audit committee charter,hasregulateditsaffairsincompliancewiththischarterandhasdischargedallitsresponsibilitieswithregardtotheRepresentedPoliticalParties’Fund.

3. The effectiveness of internal control

The systems of control are designed to provide cost effective assurance that assets are safeguarded and that liabilitiesandworkingcapitalareefficientlyandeffectivelymanaged.Inlinewithgenerallyacceptedaccountingpracticeandproceduresaswell as applicable requirement of theKing codeof best practise, InternalAuditprovidestheAuditCommitteeandCommissionwithassurancewhethertheinternalcontrolsareappropriateandeffectiveforthefocusareasreviewed.


Thisisachievedbymeansoftheriskmanagementprocessesaswellastheimplementationofsuitablecorrectiveactionsflowingfromrecommendedenhancementstothecontrolenvironment.

Management has given assurance that measures are in place to prevent errors and more importantly that the finaldecisionregardingthelistingornotoftheFundunderthePFMAisvigorouslybeingpursuedwithNationalTreasury.

Accordingly,theAuditCommitteecanreportthattherewerenomaterialdeficienciesinthesystemsofinternalcontroloftheRepresentedPoliticalParties’Fundfortheperiodunderreview.

4. The quality of in-year management, monthly and quarterly reports

The Audit Committee is of the opinion that the policies and procedures for in-year monitoring as implemented bymanagementwereinthemainsufficienttoensurethattheaccountingandinformationsystemsandrelatedcontrolsareadequateandeffectivethroughouttheperiodunderreview.

5. Evaluation of Annual Financial Statements

The Audit Committee has• Reviewedanddiscussed theauditedannual financial statements with theAuditor-General and the

AccountingOfficer;• ReviewedtheAuditor-General’smanagementletterandtheresponseofmanagementthereto;

TheAuditCommitteeconcursandacceptstheAuditor-General’sconclusionsontheannualfinancialstatementsoftheRepresentedPoliticalParties’FundandisoftheopinionthattheauditedannualfinancialstatementsbeacceptedandreadtogetherwiththereportoftheAuditor-General.

………………………………………………J F J ScheepersChairperson of the Audit Committee

31 May 2011

Report of the Auditor General


AuditoR’s RepoRt of the

AuditoR-GeneRAl to pARliAment on the

RepResented politiCAl pARties’ fund

REPORT ON THE FINANCIAL STATEMENTS

Introduction

1. Ihave audited the accompanying financial statements of theRepresented Political Parties’ Fund (RPPF), whichcomprise the statement of financial position as at 31March 2010, and the statement of comprehensive income,statement of changes in funds and cash flow statement for the year then ended, and a summary of significantaccountingpoliciesandotherexplanatoryinformation,assetoutonpages55to70.

Accounting officer’s responsibility for the financial statements

2. The accounting officer is responsible for the preparation and fair presentation of these financial statements inaccordancewithSouthAfricanStandardsofGenerallyAcceptedAccountingPractice(SAStandardsofGAAP)andinthemannerrequiredbythePublicFundingofRepresentedPoliticalPartiesAct,1997(ActNo.103of1997)(PFRPPAct).Thisresponsibilityincludes:designing,implementingandmaintaininginternalcontrolrelevanttothepreparationandfairpresentationoffinancialstatementsthatarefreefrommaterialmisstatement,whetherduetofraudorerror;selectingandapplyingappropriateaccountingpolicies;andmakingaccountingestimatesthatarereasonableinthecircumstances.

Auditor-General’s responsibility

3. Asrequiredbysection188oftheConstitutionofSouthAfrica,1996(ActNo.108of1996)andsection4ofthePublicAuditActofSouthAfrica,2004(ActNo.25of2004)(PAA)andsection8(2)ofthePFRPPAct,myresponsibilityistoexpressanopiniononthesefinancialstatementsbasedonmyaudit.

4. IconductedmyauditinaccordancewithInternationalStandardsonAuditingandGeneral Notice 1570 of 2009 issued in Government Gazette 32758 of 27 November 2009.ThosestandardsrequirethatIcomplywithethicalrequirementsandplanandperformtheaudittoobtainreasonableassurancethatthefinancialstatementsarefreefrommaterialmisstatement.

5. Anauditinvolvesperformingprocedurestoobtainauditevidenceabouttheamountsanddisclosuresinthefinancialstatements.Theproceduresselecteddependontheauditor’sjudgement,includingtheassessmentoftherisksofmaterialmisstatementofthefinancialstatements,whetherduetofraudorerror.Inmakingthoseriskassessments,theauditor considers internal control relevant to the entity’s preparation and fair presentation ofthefinancialstatementsin order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing anopinionontheeffectivenessoftheentity’sinternalcontrol.Anauditalsoincludesevaluatingtheappropriatenessof accounting policies used and the reasonableness of accounting estimatesmade bymanagement, as well asevaluatingtheoverallpresentationofthefinancialstatements.

6. IbelievethattheauditevidenceIhaveobtainedissufficientandappropriatetoprovideabasisformyauditopinion.


Opinion

7. Inmyopinionthefinancialstatementspresentfairly,inallmaterialrespects, thefinancialpositionoftheRPPFasat31March2010,anditsfinancialperformanceandcashflowsfortheyearthenendedareprepared,inallmaterialrespects, inaccordancewithSAStatementsofGAAPand in themannerrequiredbysection4(2)of thePFRPPAct.

Emphasis of matter

8. Idrawattentiontothematterbelow.Myopinionisnotmodifiedinrespectofthismatter.

Restatement of corresponding figures

9. Asdisclosedinnote15tothefinancialstatements,thecorrespondingfiguresfor31March2009havebeenrestatedasaresultofanerrordiscoveredduring2010inthefinancialstatementsoftheRPPFat,andfortheyearended,31March2009.

Additional matters

10. Idrawattentiontothematterbelow.Myopinionisnotmodifiedinrespectofthematter:

Unaudited supplementary schedules

11. The supplementary information set out on pages 71 to 73 does not form part of the financial statements and ispresentedasadditionalinformation.Ihavenotauditedtheseschedulesand,accordinglyIdonotexpressanopinionthereon.

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

12. Asrequiredby thePAAand in termsofGeneral notice 1570 of 2009 issued in Government Gazette 32758 of 27 November 2009,Iincludebelowmyfindingsonthereportonpredeterminedobjectives,compliancewiththefollowingkeylawsandregulations,PublicFinanceManagementAct,1999(ActNo.1of1999)(PFMA)andPFRPPActandfinancialmanagement(internalcontrol).

Predetermined objectives

13. Iwasunable toconduct theauditofperformanceagainstpredeterminedobjectivesas theRPPF isnotcurrentlysubjecttothePFMAandisnotrequiredintermsofPFRPPActtoprepareandsubmitanannualperformancereport.

Compliance with laws and regulationsPFRPP Act

14. During theauditof thefinancialstatements for theyearended31March2010 the following instancesofnon-complianceby

politicalpartieswith thePublicFundingofRepresentedPoliticalParties’Act,1997 (ActNo.103of1997) (PFRPPAct)were

identified:

• Duringthereviewofthefinancialstatementssubmittedbypoliticalparties,twopoliticalpartiesdidnotsubmittheirauditedfinancialstatementsforthefinancialyearending31March2010timeouslyasrequiredbysection6(5)ofthePFRPPAct.


• During the review of the financial statements it was identified that two political parties expenditure was notdisclosedinaccordancewithsection8(1)ofthePFRPPAct.

• Duringthereviewofthesubmittedfinancialstatementsitwasidentifiedthatonepoliticalpartyhadanemphasisofmatterparagraphregardingnon-compliancewithsection6(1)ofthePFRPPAct,astheydidnotkeepaseparatebankaccountformoneyallocatedfromRPPF.

15. Theabovementionedinstancesofnon-complianceresultedfrompoliticalpartiesnotadheringtothePFRPPAct.

PFMA and Treasury Regulations of 2005

16. Section47(2)ofthePFMArequirestheaccountingauthorityofanunlistedpublicentitytonotifytheNationalTreasurywithoutdelay,inwriting,thattheentityisnotlisted.GeneralNotice1570Auditor-GeneralDirectiveofthe2009,issuedinGovernmentGazetteNo.32758of27November2009alsoemphasised, inparagraph30, thatunlistedentitiesshouldinformNationalTreasurythattheentityisnotlistedinthePFMA.TheRPPFnotifiedtheNationalTreasuryon14October2004andon10September2010,respectively,thatitwasnotlistedinthePFMA.TheNationalTreasuryisintheprocessofrulingonwhethertheRPPFshouldbelistedasapublicentityaswellastheapplicabilityofthePFMA.

INTERNAL CONTROL

17. IconsideredinternalcontrolrelevanttomyauditofthefinancialstatementsandthereportonpredeterminedobjectivesaswellascompliancewithkeylawsandregulationsandPFRPPAct,butnotforthepurposesofexpressinganopinionontheeffectivenessofinternalcontrol.Nosignificantinternalcontroldeficiencieswereidentifiedduringtheaudit.

PRETORIA

21June2011

REPRESENTED POLITICAL PARTIES’ FUND

ANNUAL FINANCIAL STATEMENTSfor the year ended

31 March 2010


STATEMENT OF FINANCIAL POSITION as at 31 March 2010

2010 2009

Notes Restated

R R

ASSETS

Current assets

Trade and other receivables 2 1,592,632 1,689,342

Cash and cash equivalents 3 2,285,108 2,076,761

3,877,740 3,766,103

Total assets 3,877,740 3,766,103

FUNDS AND LIABILITIES

FUNDS

Unutilised funds 4 2,122,345 2,850,869

Current liabilities

Trade and other payables 5 629,637 577,805

Provisions 6 1,125,758 337,429

1,755,395 915,234

Total funds and libilities 3,877,740 3,766,103

FDP Tlakula ACCOUNTING OFFICER

DATE

REPRESENTED POLITICAL PARTIES’ FUNDANNUAL FINANCIAL STATEMENTS for the year ended 31 March 2010


STATEMENT OF COMPREHENSIVE INCOME for the year ended 31 March 2010

Notes 2010 2009

R R

Government Grants 8.1 92,823,000 88,187,000

Allocation to parties 8.3 (92,814,171) (88,287,677)

Unused funds recievable from parties 9.2 337,429 1,976,360

Funds retained for other purposes 346,258 1,875,683

Administration expenses (313,092) (294,407)

Personnel cost (314,986) (263,541)

Bad Debts (1,125,758) -

Operating(deficit)/surplus 8 (1,407,578) 1,317,735

Finance income 9.1 679,054 770,686

Other income 9.2 - -

Net (Deficit)/surplus for the year (728,524) 2,088,421

Other comprehensive income for the year - -

Total comprehensive income (728,524) 2,088,421

Profit / (loss) attributable to owners (728,524) 2,088,421

Total comprehensive income attributable to owners (728,524) 2,088,421



STATEMENT OF CHANGES IN FUNDS for the year ended 31 March 2010

Unutilised

Funds

R

Balance at 31 March 2008 762,448

Surplus for the year 3,113,848

Balance at 31 March 2009 3,876,296

Changes in net assets 15 (1,025,427)

Restated balance at 31 March 2009 2,850,869

Surplus for the year (728,524)

Balance at 31 March 2010 2,122,345



CASH FLOW STATEMENT for the year ended 31 March 2010

Note 2010 2009

R R

CASH FLOW FROM OPERATING

ACTIVITIES

Cash(utilisedby)/generatedfromoperations 10 (470,707) (1,167,647)

Interest received 679,054 770,686

Netcashinflowfromoperatingactivities 208,347 (396,961)

Net increase in cash and cash

equivalents 208,347 (396,961)

Cash and cash equivalents at

beginning of period 2,076,761 2,473,722

CASH AND CASH EQUIVALENTS AT END OF YEAR 2,285,108 2,076,761



1. Notes to the financial statements

1.1 Reportingentity

The Represented Political Parties’ Fund (the “Fund”) provides funding for political parties participating in Parliamentandprovinciallegislatures.

1.2 Basisofpreparation

1.2.1 Statementofcompliance

Theannualfinancialstatementshavebeenpreparedonthehistoricalcostbasisandconform,inallmaterial respects, to Generally Accepted Accounting Practice (SA GAAP) and the requirements of the PublicFundingofRepresentedPoliticalPartiesAct,1997(ActNo.103of1997)andPublicFundingofRepresentedPoliticalPartiesRegulations,1998.

ThefinancialstatementswereauthorisedforissuebytheAccountingOfficeron20/06/2011.

1.2.2 Basisofmeasurement

Thefinancialstatementshavebeenpreparedonthehistoricalcostbasis.

1.2.3 Functionalandpresentationcurrency

ThesefinancialstatementsarepresentedinRands,whichistheFund’sfunctionalcurrency.AllfinancialinformationpresentedinRandshasbeenroundedtothenearestR1.

1.2.4 Useofestimatesandjudgements

ThepreparationofthefinancialstatementsinconformitywithSAGAAPrequiresmanagementtomakejudgements,estimatesandassumptionsthataffecttheapplicationofaccountingpoliciesandthereportedamountsofassets,liabilities,incomeandexpenses.Actualresultsmaydifferfromtheseestimates.

Estimatesandunderlyingassumptionsarereviewedonanongoingbasis.Revisionstoaccountingestimatesarerecognisedintheperiodinwhichtheestimatesarerevisedandinanyfutureperiodsaffected.

Informationaboutassumptionsandestimationuncertaintiesthathaveasignificantriskofresultinginamaterialadjustmentwithinthenextfinancialyearareincludedinthefollowingnotes:

–Notes2–Allowanceforimpairmentlosses;and

–Notes6–Provisions.

1.3 Significantaccountingpolicies

Theprincipalaccountingpoliciesadoptedandappliedduringthisyearofoperation,aresetoutbelow.

REPRESENTED POLITICAL PARTIES’ FUNDNOTES TO THE ANNUAL FINANCIAL STATEMENTS for the year ended 31 March 2010


1.3.1 Governmentgrants

Government appropriations for the funding of political parties participating in Parliament and Provincial Legislatures and for the compensation of operating expenditure and capital, are recognised initially asdeferredincomewhenthereisreasonableassurancethattheywillbereceived.GrantsthatcompensatetheFundforexpensesincurredarerecognisedinprofitorlossonasystematicbasisinthesameperiodsinwhichtheexpensesarerecognised.Governmentgrantsrelatedtoassets,including non-monetary grants at fair value, are presented in the balance sheet by deducting the grant inarrivingatthecarryingamountoftheassets.

Governmentassistanceasactionbygovernmentdesignedtoprovideaneconomicbenefitspecifictoanentityorrangeofentitiesqualifyingundercertaincriteria.

Government assistance is not recognised in the Annual Financial Statements, but the nature, extent anddurationoftheassistanceprovidedisdisclosedinnote13.

1.3.2Financeincome

Financeincomecomprisesinterestincomeonfundsinvested.Interestincomeisrecognisedasitaccruesinprofitorloss,usingtheeffectiveinterestmethod.

1.3.3Financialinstruments

Recognition

FinancialassetsandfinancialliabilitiesarerecognisedonthebalancesheetwhentheFundbecomesapartytothecontractualprovisionsoftheinstrument.

All“regularway”purchasesandsalesoffinancialassetsareinitiallyrecognisedusingtradedateaccounting.

Measurement

Financialinstrumentsareinitiallymeasuredatfairvalue,whichincludestransactioncosts.Subsequenttoinitialrecognitiontheseinstrumentsaremeasuredassetoutbelow.

Financial assets

TheFund’sprincipalfinancialassetsaretradereceivablesandcashandcashequivalents.Thesefinancialassetsareclassifiedasloansandreceivables.

Trade and other receivables

Trade and other receivables are recognised initially at fair value and subsequently measured at amortisedcostusingtheeffectiveinterestratemethod,lessallowanceforimpairment.ImpairmentoftradeandotherreceivablesisestablishedwhenthereisobjectiveevidencethattheFundwillnotbeabletocollectallamountsdueaccordingtotheoriginaltermsofreceivables.

Significantfinancialdifficultiesofthedebtor,defaultordelinquencyinpaymentsareconsidered

indicatorsthatthetradeandotherreceivablesareimpaired.Theamountoftheprovisionisthedifferencebetweentheasset’scarryingamountandthepresentvalueofestimatedfuturecashflows,discountedattheeffectiveinterestrate.



Cash and cash equivalents

Cashandcashequivalentscomprisecashbalancesandcalldepositswithoriginalmaturitiesof threemonthsorless.

Financial liabilities TheFund’sprincipalfinancialliabilitiesaretradeandotherpayables.

Allfinancialliabilitiesareinitiallyrecognisedatfairvaluewhichissubsequentlymeasuredatamortisedcostusingtheeffectiveinterestratemethod.

De-recognition

Financial assets Financialassetsarede-recognisedwhenthecontractedrighttothecashflowfromtheassetexpires,

orwhensubstantiallyalltherisksandrewardsofownershipofthefinancialassetsaretransferredtoanotherpartywithoutretainingcontrolorsubstantiallyallrisksandrewardsoftheassets.

Financial liabilities

Financialliabilitiesarede-recognisedwhentheobligationinthecontractisdischarged,cancelledorexpires.

1.4Provisions

ProvisionsarerecognisedwhentheFundhasapresentlegalorconstructiveobligationasaresultofpastevents,whenitisprobablethatanoutflowofresourcesembodyingeconomicbenefitswillberequiredtosettletheobligation,andwhenareliableestimateoftheamountoftheobligationcanbemade.

1.5Cashflow

ForthepurposesoftheCashFlowStatement,cashincludescashonhandanddepositsheldoncallwithbanks.

1.6Comparativefigures

Wherenecessarycomparativefigureshavebeenadjustedtoconformtochangesinpresentationinthecurrentyear.



2010 2009

R R

Restated

2. Trade and other receivables

Trade accounts receivable 1,592,632 1,689,342

Party Allocation Repayable - NADECO 228,348 228,348

Party Allocation Repayable - PAC 466,874 466,874

Party Allocation Repayable - PIM 45,470 45,470

Party Allocation Repayable - ACDP - 70,973

Party Allocation Repayable - AFD - 2,605

Party Allocation Repayable - APC - 22,673

Party Allocation Repayable - FD 2,003 2,003

Party Allocation Repayable - NA 95,786 95,786

Party Allocation Repayable - NVP - -

Party Allocation Repayable - UDM - 459

Party Allocation Repayable - UIF 754,151 754,151

Less:Allowanceforimpairment (1,125,758) -

466,874 1,689,342

Theallowanceforimpairmenthasbeendeterminedbyreferencetopastdefaultexperienceandthecurrenteconomicenvironment.Theexecutiveconsidersthatthecarryingamountoftradeandotherreceivablesapproximatesthefairvalueduetotheirshort-termmaturity.

3. Cash and cash equivalents

Bank balances – Call deposits 2,285,108 2,076,761

2,285,108 2,076,761

Cashandcashequivalentscomprisecashandshort-term,highlyliquidinvestmentsthatareheldwitharegisteredbankinstitutionwithmaturitiesofthreemonthsorlessandthataresubjecttoinsignificantinterestraterisk.Thecarryingamountoftheseassetsapproximatesthefairvalue.

4. Unutilised funds

Opening unutilised funds 2,850,869 762,448

(Deficit)/surplusfortheyear (728,524) 2,088,421

Unutilised funds at 31 March 2010 2,122,345 2,850,869

5. Trade and other payables

Trade accounts payable 629,637 577,805

The executive considers that the carrying amount of trade and other payables approximates to their fair value due to theirshort-termmaturity.



2010 2009

6. Provisions R R

Political Parties

Allowance for

impairment Total

At 31 March 2009 337,429 - 337,429

Additional provisions - 1,125,758 1,125,758

Unused amounts reversed (337,429) - (337,429)

Utilised during the year - -

Current portion of provision - (1,125,758) (1,125,758)

At 31 March 2010 - - -

Political Parties

Allowance for

impairment Total

At 31 March 2008 1,188,547 1,188,547

Additional provisions - - -

Unused amounts reversed (558,807) - (558,807)

Utilised during the year (292,311) - (292,311)

Current portion of provision (337,429) - (337,429)

At 31 March 2009 - - -

AProvisionofR337429wasreversedinthecurrentfinancialperiodbecausethefundhasnopresentobligation,andtherewillnotbeaprobableoutflowofresourcesembodyingeconomicbenefitsrequiredtosettletheobligation.

A provision for doubtful debt in relation to political parties’ allocation is measured at the present value of the expectedcostofsettlement.



7.

EXPE

ND

ITU

RE

PER

PO

LITI

CA

L PA

RTY

for t

he y

ear e

nded

31

Mar

ch 2

010

Afr

ican

C

hris

tian

Dem

ocra

tic

Part

y (A

CD

P)

Afr

ican

In

depe

nden

t C

ongr

ess

(AIC

)

Afr

ican

N

atio

nal

Con

gres

s (A

NC

)

Afr

ican

Pe

ople

’s

Con

vent

ion

(APC

)

Aza

nian

Pe

ople

’s

Org

anis

atio

n (A

ZAPO

)

Con

gres

s of

th

e Pe

ople

(C

OPE

)

Dem

ocra

tic

Alli

ance

(D

A)

Free

dom

Fr

ont P

lus

(FF)

Inde

pend

ent

Dem

ocra

ts

(ID)

Inka

tha

Free

dom

Pa

rty

(IFP)

Min

ority

Fr

ont (

MF)

Pan

Afr

ican

ist

Con

gres

s (P

AC

)

Uni

ted

Chr

istia

n D

emoc

ratic

Pa

rty

(UC

DP)

Uni

ted

Dem

ocra

tic

Mov

emen

t (U

DM

)

Tot

al

R

R

R

R

R

R

R

R

R

R

R

R

R

R

R

Allo

catio

ns fo

r the

yea

r 1

299

465

3

73 0

13

58

056

247

100

751

1

00 7

51

8 6

88 1

97

15

337

772

991

909

1

475

671

4

241

242

5

90 3

62

100

751

5

81 2

71

977

520

9

2 91

4 92

2

Unspentamounti.r.o.2008/2009

( 70

973

) (

459

) (

71 4

32)

Amountunaccountedfori.r.o.

2008/2009

( 22

673

)

Tot

al p

aid

1 2

28 4

92

373

013

5

8 05

6 24

7 7

8 07

8 1

00 7

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8 6

88 1

97

15

337

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1

475

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242

5

90 3

62

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581

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9

77 0

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820

817

Les

s: T

otal

Exp

endi

ture

(1

239

051

) (

359

424)

(58

276

367)

( 76

773

) (

100

453)

(7 7

99 0

48)

(15

412

221)

( 83

3 64

1) (2

364

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) (4

212

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) (

562

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576

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( 97

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3

97 9

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1 0

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1

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130

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17

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810

P

rom

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d pu

blic

atio

ns

277

,176

7

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1 6

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Uns

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ey a

t the

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of y

ear

( 10

559

) 1

3 58

9 (

220

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1 3

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( 74

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) 1

58 2

68

( 88

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5 2

67

1 1

62

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s: In

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nd o

ther

inco

me

rece

ived

7

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-

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858

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25

130

77

160

2 7

00

4 2

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133

563

Sur

plus

/ (d

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2 56

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56

Not

es:

–Tw

opoliticalpartyfailedtosubmitauditreportandauditedannualfinancialstatementsfortheyearending31March2010withinthestatutorydeadline(onorbefore30June2010)asprescribedinsection9(3)ofthePublicFundingof

RepresentedPoliticalPartiesAct103,1997.TheyareAP

CandAIC




blicFundingof

RepresentedPoliticalPartiesRegulations,1998,thatrequirethefinancialstatementstobepreparedshowingtheam


Theyareasfollows:IFPandMF.

–O

nepoliticalpartywasnotfundedduringthe2009/2010duetofailuretosubmittheauditedfinancialstatementsinrespectof2007/2008and2008/2009.ThepartyisPAC

–O

nepoliticalpartyfailedtoopenseparateBankAccount.ThepartyisCOPE

REPR

ESEN

TED

PO

LITI

CAL

PART

IES’

FU

ND

– N

OTE

S TO

TH

E A

NN

UAL

FIN

AN

CIA

L ST

ATEM

ENTS

for

the

year

end

ed 3

1 M

arch

201

0 –

PART

A


EXPE

ND

ITU

RE

PER

PO

LITI

CA

L PA

RTY

for t

he y

ear e

nded

31

Mar

ch 2

009

Afr

ican

C

hris

tian

Dem

ocra

tic

Part

y (A

CD

P)

Alli

ance

of

Fre

e D

emoc

rats

(A

FD)

Afr

ican

N

atio

nal

Con

gres

s (A

NC

)

Afr

ican

Pe

ople

’s

Con

vent

ion

(APC

)

Aza

nian

Pe

ople

’s

Org

anis

atio

n (A

ZAPO

)*

Chr

istia

n Pa

rty

(CP)

Dem

ocra

tic

Alli

ance

(D

A)

Fede

ratio

n of

D

emoc

rats

(F

D)

Free

dom

Fr

ont P

lus

(FF)

Inde

pend

ent

Dem

ocra

ts

(ID)

Inka

tha

Free

dom

Pa

rty

(IFP)

Min

ority

Fr

ont

(MF)

Nat

iona

l A

llian

ce

(NA

)

Nat

iona

l D

emoc

ratic

C

onve

ntio

n (N

AD

ECO

)

New

Vi

sion

Pa

rty

(NVP

)*

Pan

Afr

ican

ist

Con

gres

s (P

AC

)

Uni

ted

Chr

istia

n D

emoc

ratic

Pa

rty

(UC

DP)

Uni

ted

Dem

ocra

tic

Mov

emen

t (U

DM

)

Uni

ted

Inde

pend

ent

Fron

t (U

IF)

Tot

al

R

R

R

R

R

R

R

R

R

R

R

R

R

R

R

R

R

R

R

R

Allo

catio

ns fo

r th

e ye

ar

2 1

77 4

25

283

242

6

1 11

3 51

1 8

94 1

53

95

786

301

217

1

0 53

8 73

7 9

5 78

6 1

496

340

1

249

562

5

403

084

6

17 9

21

95

786

905

278

1

53 9

47

95

786

744

194

1

611

975

4

61 8

40

88

335

570

Amountpaidi.r.o.

2007/2008

292

311

2

92 3

11

Am

ount

ove

rpai

d during2008/2009

226

319

2

26 3

19

Am

ount

set

off

i.r.o.2007/2008

debt

(

47 8

93)

( 47

893

)

Tot

al p

aid

2 1

77 4

25

283

242

6

1 11

3 51

1 8

94 1

53

95

786

301

217

1

0 53

8 73

7 9

5 78

6 1

496

340

1

249

562

5

403

084

6

17 9

21

95

786

1 1

31 5

97

153

947

4

7 89

3 7

44 1

94

1 6

11 9

75

754

151

8

8 80

6 30

7

Les

s: T

otal

Ex

pend

iture

(2

373

528

) (

290

724)

(60

823

713)

- (

108

055)

( 68

9 87

9) (1

0 78

1 37

6) (

176

447)

(1 7

30

423)

(1 6

39 3

52)

(5 4

37 6

75)

( 64

2 17

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(1 1

27 5

80)

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( 74

4 08

7) (1

613

654

) (1

100

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) (8

9 27

9 61

9)

P

erso

nnel

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5

79 4

71

75

055

33

103

568

50

906

199

,309

5

835

147

-

560

632

1

058

331

9

60 6

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182

400

3

88 3

32

8 0

00

285

660

4

3 32

2 68

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A

ccom

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n ex

pend

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1

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2 2

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- 9

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-

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- -

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48 1

48

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3

15,8

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-

821

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-

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450

34

593

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A

rrang

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ts

of m

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gs

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rallie

s 2

49 4

52

68

175

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10

251

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715

56

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714

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-

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949

6

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145

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577

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9

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5 84

9 5

0 89

4 4

196

111

7

455

4

88 7

24

131

389

2

131

885

1

30 1

68

283

194

2

54 8

16

159

766

3

95 1

82

18

537

386

P

rom

otio

n an

d pu

blic

atio

ns

650

,247

4

022

6

388

117

-

408

746

-

112

243

4

48 0

57

447

037

3

45 9

97

466

592

2

56 5

87

- 1

245

888

-

10

773

533

F

ixed

ass

et

expe

nditu

re

- -

278

831

-

21

450

- -

21

020

- 4

63 4

92

10

213

- -

14

683

809

689

Uns

pent

mon

ey

at th

e en

d of

ye

ar

( 19

6 10

3) (

7 48

2) 2

89 7

98

894

153

(

12 2

69)

( 38

8 66

2) (

242

639)

( 80

661

) (

234

083)

( 38

9 79

0) (

34 5

91)

( 24

252

) 9

5 78

6 4

017

1

53 9

47

47

893

10

7 (

1 67

9) (

346

802)

( 47

3 31

2)

Plu

s: In

tere

st

and

othe

r inc

ome

rece

ived

2

9 73

4 -

47

293

- -

37

019

51

175

1 2

46

10

292

5 4

72

16

397

- -

- -

- -

- 7

860

2

06 4

88

Surplus/(deficit)

for t

he y

ear

( 16

6 36

9) (

7 48

2) 3

37 0

91

894

153

(

12 2

69)

( 35

1 64

3) (

191

464)

( 79

415

) (

223

791)

( 38

4 31

8) (

18 1

94)

( 24

252

) 9

5 78

6 4

017

1

53 9

47

47

893

10

7 (

1 67

9) (

338

942)

( 26

6 82

4)

Not

es:

–Fourpoliticalpartiesfailedtosubmittheauditedfinancialstatementsfortheperiodunderreview,asprescribedbysection9(3)ofthePublicFundingofR

epresentedPoliticalPartiesAct103,1997.Theyareasfollows:APC

,NA,PAC

andNVP

.

–Onepoliticalpartydidnotcom

plywithsection7(1)ofthePublicFundingofR

epresentedPoliticalPartiesAct103of1997andthereforereceivedadisclaimerauditopinionfromtheindependentauditors.ThepartyisUIF.

–Sixpoliticalpartiesfailedtosubmitauditreportsandauditedannualfinancialstatementsfortheyearending31March2009withinthestatutorydeadline(onorbefore14April2009)asprescribedinsection9(3)ofthePublicFundingof

RepresentedPoliticalPartiesAct103,1997.Theyareasfollows:AZA

PO,FD,ID,M

F,NAD

ECO,U

DM.




blicFundingof

RepresentedPoliticalPartiesRegulations,1998,thatrequirethefinancialstatementstobepreparedshowingtheam


Theyareasfollows:AZA

POandNAD

ECO.N

ADEC

Ohascorrectedtheirfinancialstatements.*-A

ZAPO

hasnotasyetrectifiedthisomission.

–Fivepoliticalpartiesdidnotreturnunspentm

oneyasrequiredbysection9(3)ofthePublicFundingofR

epresentedPoliticalPartiesAct103of1997.Theyareasfollows:ACDP,AFD

,FD,N

ADEC

O,U

DM.

REPR

ESEN

TED

PO

LITI

CAL

PART

IES’

FU

ND

– N

OTE

S TO

TH

E A

NN

UAL

FIN

AN

CIA

L ST

ATEM

ENTS

for

the

year

end

ed 3

1 M

arch

201

0 –

PART

B


8. Operating surplus/(deficit) is arrived at after taking the following into account:

2010 2009

R R

8.1GovernmentGrants 92,823,000 88,187,000

8.2Auditorsremuneration:

- Audit fees - Current year 226,106 246,453

- Previous year - -

226,106 246,453

8.3AllocationstoParties 92,814,171 88,287,677

9. Income

9.1FinanceIncome

Interest income on cash and cash equivalents 679,054 770,686

Thisamountrepresentsinterestincomeonfinancialassetsmeasuredatamortisedcost.

9.2OtherIncome(politicalparties)

Unused funds receivable at 31 March 2010 337,429 1,976,360

10. Reconciliation of surplus/(deficit) for the year to cash (utilised by)/generated from operating activities

(Deficit)/surplusfortheyear (728,524) 2,088,421

Adjustmentsfor:

- Interest received (679,054) (770,686)

Operating(deficit)/surplusbeforeworkingcapitalchanges (1,407,578) 1,317,735

Working capital changes: 936,871 (2,485,382)

-(Increase)/Decreaseintradeandotherreceivables 96,710 (1,643,872)

-(Decrease)/Increaseintradeandotherpayablesandprovisions 840,161 (841,510)

Cash(utilisedby)/generatedfromoperations (470,707) (1,167,647)



11. Taxation

No provision is made for taxation, as the Represented Political Parties’ Fund is exempted from taxation in terms of theIncometaxAct.

12. Fund Administration

TheChiefElectoralOfficeroftheElectoralCommissionistheaccountingofficeroftheFund.StaffoftheElectoralCommissionexecuteFundresponsibilitiesalongsideotherdutiesassignedtothem.TheElectoralCommissionchargestheFundwithcostsrelatedtotheadministrationoftheFund.

2010 2009

R R

13. Related party transactions

Electoral Commission

- Expenditure arising from the allocation of moneys from the Fund 628,826 576,592

TheElectoralCommissionmanagesandadministerstheRepresentedPoliticalParitiesFund.

Inlinewithprevailinggovernmentpractices,functionsprovidedonanocostbasisbytheElectoralCommissiontotheFundincludetherenderingoflegal,financial,humanresourcesmanagement,informationcommunicationtechnologyservices,infrastructureandtheexerciseofinternalcontrol.

IntermsoftheCommission’sexpenditureallocationpolicyallexpenditureincurredinconnectionwiththerenderingofadministrativeservicesonacostrecoverybasis,isexpensedintheFund.Staffexpenditureisallocatedona20%/80%(manager)and40%/60%(assistantmanager)basisrespectively.

14. Financial Instrument Risk Management

ElectoralCommission’sactivitieshavealimitedexposuretomarketrisk,creditrisk,liquidityriskandcashflowrisk.RiskmanagementiscarriedoutbytheExecutiveCommitteeunderpoliciesapprovedbytheCommission.TheCommissionprovideswrittenpoliciesforoverallriskmanagement,aswellaswrittenpoliciescoveringspecificareas,suchasinvestingexcessliquidity.TheRepresentedPoliticalPartiesFundismanagedbytheCommissionunderthesamefinancialpoliciesandproceduresapplicabletotheCommission,takingthestipulationsofthePublicFundingofRepresentedPoliticalPartiesFundAct103of1997intoaccount.

a) Liquidity risk

Prudentliquidityriskmanagementimpliesmaintainingsufficientcash.Sufficientfundingismaintainedthroughthoroughplanningprocesses.



Thefollowingarecontractualmaturitiesoffinancialliabilities

2010/03/31 Carrying Amounts 0-3 months

Trade and other payables 629,637 629,637

2009/03/31

Trade and other payables 577,806 577,806

b) Cash flow

TheFundmanagesitscashflowriskbyaligningthequarterlygovernmentallocationtoitsquarterlypaymentstoparties.

c) Credit risk

Receivablesaremonitoredonanongoingbasiswiththeresultthatexposuretobaddebtsisminimised.

Withrespecttocreditarisingfromcashandcashequivalents,cashisplacedwithqualityfinancialinstitutions.

Thecarryingamountsofthefinancialassetsrepresentthemaximumcreditexposure.Themaximumexposureatthereportingdatewas:

Carrying amounts

2010 2009

R R

Trade and other receivables 466,874 1,689,342

Cash and cash equivalents 2,285,108 2,076,761

Themaximumexposuretocreditriskfortradereceivablesatthereportingdatebymajorcustomerwas:

Carrying amounts

2010 2009

R R

Trade and other receivables 466,874 1,689,342

d) Interest rate risk

TheFundisexposedtotheriskoffluctuationsininterestratesonitsCallDeposit.

Interestrateriskreferstotheriskthatthefairvalueoffuturecashflowsofafinancialinstrumentwillfluctuatebecauseofthechangesinmarketinterestrates.



TheFund’sinterestrateprofileconsistsoffloatingratebankbalanceswhichexposestheFundtocashflowinterestrateriskandcanbesummarisedasfollows:

Financial Assets

TieredRateCallDepositlinkedtoSouthAfricanPrimerate.

15. Prior period adjustment

Unspent funds

AmountsofR871480.00andR153947.00inrespectofAPCandNVPrespectively,werestatedinthefinancialstatementsasunspentasat31March2009,duetofailureofbothpartiestosubmittheauditedfinancialstatements.Thepartieshadsincesubmittedtheirstatements.Asthestatementsweresubmittedafterthisdate,anadjustmenttotradeandotherreceivablesaffectingprioryearhasnowbeenprocessed.

Effect on 2009:

Decrease in other income 1,025,427

1,025,427

Decrease in trade receivables (1,025,427)

(1,025,427)


Appendix A


DETAILED INCOME AND EXPENDITURE STATEMENT for the year ended 31 March 2010

APPENDIX A

2010 2009

R R

INCOME 93,839,483 90,934,046

Government appropriation 92,823,000 88,187,000

Other Income 1,016,483 2,747,046

- Unused funds receivable(NADECO) 337,429 560,836

- Unused funds receivable(PAC) - 466,874

- Unused funds receivable(ACDP) - 70,973

- Unused funds receivable(AFD) - 2,605

- Unused funds receivable(APC) - 22,673

- Unused funds receivable(FD) - 2,003

- Unused funds receivable(NA) - 95,786

- Unused funds receivable(NVP) - -

- Unused funds receivable(UDM) - 459

- Unused funds receivable(UIF) - 754,151

- Interest received 679,054 770,686

EXPENDITURE 94,568,007 88,845,625

Allocations to parties 92,814,171 88,287,677

African Christian Democratic Party (ACDP) 1,299,465 2,177,425

Alliance of Free Democrats (AFD) - 283,242

African Independent Congress (AIC) 373,013 -

African National Congress (ANC) 58,056,247 61,113,511

African People’s Convention (APC) 100,751 894,153

Azanian People’s Organisation (AZAPO) 100,751 95,786

Congress of the People (COPE) 8,688,197 -

Christian Party (CP) - 301,217

Democratic Alliance (DA) 15,337,772 10,538,737

Federation of Democrats (FD) - 95,786

Freedom Front (FF) 991,909 1,496,340

Independent Democrats (ID) 1,475,671 1,249,562

Inkatha Freedom Party (IFP) 4,241,242 5,403,084

Minority Front (MF) 590,362 617,921

National Alliance (NA) - 95,786

National Democratic Convention (NADECO) - 905,278

NewVisionParty(NVP) - 153,947

Pan Africanist Congress (PAC) - 47,893

United Christian Democratic Party (UCDP) 581,271 744,194

United Democratic Movement (UDM) 977,520 1,611,975

United Independent Front (UIF) - 461,840



APPENDIX A (continued)

2010 2009

R R

EXPENDITURE (continued)

Personnel expenditure 314,986 263,541

Salaries: Employees 314,986 263,541

Subsistenceallowance - -

Accommodation expenditure 3,219 -

Hotelexpenditure&meals:Local 3,219 -

Travel expenditure 11,376 -

Car rental 810 -

Private transport - Reimburse - -

Parking fees and toll roads - -

Air Travel - Internal 10,566 -

Arrangements of meetings and rallies - -

Hiring: Conference venues - -

Administrative expenditure 233,802 253,407

Audit cost 226,106 246,453

Courier services 2,727 1,677

Stationery 4,969 5,277

Promotion&publications 64,695 41,000

Printing and production of books 64,695 41,000

Bad Debts 1,125,758 -

Allowanceforimpairment 1,125,758 -

Surplus(deficit)/ for the year (728,524) 2,088,421



Notes


Annual Report 2009/2010

An

nu

al R

ep

or

t 20

09

/20

10

Electoral Commission of South AfricaRiverside Office Park

1303 Heuwel Avenue, Centurion, 0157

Telephone: +27 12 622 5700

www.elections.org.za

RP 228/2010ISBN: 978-0-621-39666-9

Rep

resented

Politica

l Parties’ Fu

nd

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