CHIEF EXECUTIVE’S OVERVIEW
I am proud to present the 2023/24 Annual Report, highlighting
our commitment to excellence and accountability in the
management and disposal of radioactive waste for the
betterment of public health, our environment, and future
generations.
OVERVIEW OF THE ORGANISATIONAL PERFORMANCE OF THE PUBLIC ENTITY
The NRWDI currently receives its main source of funding from the fiscus through grant transfers via the DMRE. The government grant allocation in the current year was R50.486 million, an increase of 0.361% on the government grant from the previous year.
The entity’s revenue budget was augmented by interest income of R1.6 million, thereby bringing the total budgeted revenue to R52.086 million. In achieving a zero-deficit budget in the financial year under review, R42.874 million was allocated towards compensation of employee expenses while R9.212 million was allocated towards other expenses.
The interest received from the current and call accounts amounted to R3.947 million. An income of R1 095 was earned from commission and services rendered, and R78 259 was earned from miscellaneous income. No adjustments were made to the budget during the mid-term budget cycle. The NRWDI continued to maintain its going concern status over the financial year under review through sound financial management and prudent accounting practices.
The organisation continues to be in a healthy financial position with its cash, and cash equivalents being R31.865million which is equivalent to a 1.71 cash turnover ratio and a liquidity ratio of 4.27 as at the end of the financial year. The net asset value for the same period is reported as R31.226 million.
The previous financial year’s accumulated surplus of R28.25 million calculated according to Treasury’s Instruction Note No. 12 of 2020/21 was approved for rollover by the National Treasury in November 2023 to be used for the purpose of the entity’s IT infrastructure costs, nuclear installation licence costs, and Vaalputs’s transitional activities cost, training and development costs, capacity, and capability development, and the CSIF’s feasibility study development.