OMBUD COUNCIL ANNUAL REPORT 2024/25

PART F: FINANCIAL INFORMATION

Amounts in Rand

2025

2024

10. OTHER LIABILITY As at 31 March 2025, the Ombud Council received R1 406 264 more than the Levies due by the FSCA therefore the amount is recogised as a liability at reporting date.

11. REVENUE

Interest received

1,030,364

69,705

Other income

74,792

4,973

Levies

26,528,367

24,114,146

Government grant

-

8,000,000

27,633,523

32,188,824

THE AMOUNTS INCLUDED IN REVENUE ARISING FROM EXCHANGE TRANSACTIONS ARE AS FOLLOWS: Interest received

1,030,364

69,705

Other income

74,792

4,973

1,105,156

74,678

THE AMOUNTS INCLUDED IN REVENUE ARISING FROM NON-EXCHANGE TRANSACTIONS ARE AS FOLLOWS: Levies

26,528,367

24,114,146

Government grant

-

8,000,000

26,528,367

32,114,146

A transfer of R8 million was received from National Treasury in the prior year to cater for the operational costs of the Ombud Council pending the enactment of the Financial Sector Levies Bill. This amount was paid back to National Treasury in the current financial year as it was not required. No grants were needed in the 2024/25 financial year.

12. EMPLOYEE COSTS

Basic

9,044,186

5,036,180

Performance bonus

483,314

715,000

Other salary related costs

1,190,537

1,291,286

10,718,037

7,042,466

86

OMBUD COUNCIL ANNUAL REPORT 2024/25