HSRC Integrated Annual Report 2018/2019

92 / HSRC INTEGRATED ANNUAL REPORT 2018/19 PART E: ANNUAL FINANCIAL STATEMENTS Note 2019 March 2018 March R’000 R’000 Revenue 484 997 555 692 Research revenue (from exchange transactions) 14.1 179 171 244 295 Parliamentary grants (from non-exchange transactions) 14.2 264 116 267 242 Other operating revenue 15 41 710 44 155 Expenses (485 549) (556 512) Administrative expenses 16 (46 991) (51 963) Research costs 17 (94 087) (175 077) Staff costs 18 (293 196) (282 510) Other operating expenses 19 (35 646) (32 417) Finance cost 20 (1 252) (1 500) Depreciation and amortisation 21 (14 377) (13 045) Deficit for the year 13 (552) (820) Revaluation Reserve Total: Reserves Accumulated Surplus Total: Net Asset Note R’000 R’000 R’000 R’000 Opening balance at 1 April 2017 392 838 392 838 60 437 453 275 Prior year adjustments - - 97 97 Deficit for the year (Restated) - - (820) (820) Balance at 1 April 2018 392 838 392 838 59 714 452 552 Deficit for the year - - (552) (552) Balance as at 31 March 2019 392 838 392 838 59 162 452 000 STATEMENT OF FINANCIAL PERFORMANCE for the year ended 31 March 2019 STATEMENT OF CHANGES IN NET ASSETS as at 31 March 2019