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HSRC Annual Report 2016/17
Statement of Comparison of Approved
Budget to Actual Results
for the year ended 31 March 2017
Note(s)
2017
Actual Results
R’000
2017
Approved
Budget
R’000
Percentage
Achieved
Variance
R’000
Revenue
459,595
473,362
97%
(13,767)
Research revenue
29
164,070
179,678
91%
(15,608)
Parliamentary grants
29
245,799
245,799
100%
-
Parliamentary grants – ring fenced 29
8,718
8,718
100%
-
Other operating revenue
29
41,008
39,167
105%
1,841
Expenses
(479,238)
(473,362)
101%
(5,876)
Administrative expenses
29
(52,111)
(55,890)
93%
3,779
Research cost
29
(110,228)
(103,908)
106%
(6,320)
Staff cost
29
(270,928)
(268,292)
101%
(2,635)
Other operating expenses
29
(34,718)
(35,202)
99%
484
Depreciation, amortisation and
impairment expense
29
(11,253)
(10,070)
112%
(1,183)
Deficit for the year
**
(19,643)
-
-100%
(19,643)
The budget was approved by the HSRC Board and submitted to the Executive Authority in terms of Section 53(1) of the PFMA.
(Both annual budget and Financial Statements adopt the accrual basis)
Total budget as per HSRC Strategic Plan is R510,525,000. Included in this was VAT payable on the parliamentary grant amounting
to R37,164,000, leaving a net budget of R473,362,000
** The HSRC applied to utilise the surplus accumulated from the 2015/16 financial year. Approval was granted by National
Treasury in September 2016. Due to this approval more expenditure was incurred through utilisation of this surplus, otherwise
the organisation has remained within budget on its approved allocation for 2016/17 financial year.