Availability of the Annual Financial Statements for the year ended 30 June 2019 - BIEM: 
CITY OF EKURHULENI METROPOLITAN MUNICIPALITY
Established in the Republic of South Africa in terms of section 12(1) of the Local Government: Municipal
Structures Act, 117 of 1998, read with Notice No 6768 of 2000 published in Provincial Gazette
Extraordinary No 141 dated 1 October 2000)
Company code: BIEM
("Ekurhuleni" or the "Issuer")



AVAILABILITY OF THE ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019

Noteholders are hereby advised that the City of Ekurhuleni Metropolitan Municipality's Annual Financial
Statements for the year ended 30 June 2019 are available on Ekurhuleni's website and can be found on the
below link:

Annual Report:

https://www.ekurhuleni.gov.za/about-the-city/annual-reports/2018-19/4245-a-f-01-2020-annexure-
a/file.html

Annual Financial Statements:

https://www.ekurhuleni.gov.za/about-the-city/annual-reports/2018-19/4246-a-f-01-2020-annexure-
b/file.html

Accounting Officer's Responsibilities and Approval:

https://www.ekurhuleni.gov.za/about-the-city/annual-reports/2018-19/4253-accounting-officer-
responsibility-and-approval/file.html

The annual financial statements of the issuer have been audited by The Auditor General of South Africa, who
have issued an unqualified audit opinion.

The City of Ekurhuleni's corresponding figures for June 2018 were restated as a result of errors in the
consolidated and separate financial statements of the group at and for the year ended 30 June 2019.

Property plant and equipment, investment property, intangible, and heritage assets: projects completed prior
years were only capitalised in the current year as projects close out reports were provided the current year, and
certain projects were derecognised as they did not meet the subsequent capitalisation requirements. This also
included donated assets from developers handed to the City in previous year for which the handover documents
were received in the current year.

Trade and other payables decreased due to reversal of accruals raised on suppliers' invoices for which they
were not subsequently delivered or credit noted, and other proceeds on sale of assets incorrectly mapped to the
trade and other payable balance.

Other receivables from exchange increased due to deposits which were previously expensed erroneously.

The deferred tax liability decreased due to the changes in assumptions applied in prior periods

Please refer to note number 50 in the Notes to the Annual Financial Statements for further details.

31 January 2020

Debt Sponsor
Absa Bank Limited (acting through its Corporate and Investment Banking Division)

Date: 31-01-2020 05:30:00
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