Government Gazette

Staatskoerant
R E P U B L I C O F S O U T H A F R I CA
R E P U B L I E K VA N S U I D A F R I K A
Regulation Gazette No. 10177 Regulasiekoerant

June
Vol. 636 21 2018 No. 41724
Junie

ISSN 1682-5843
N.B. The Government Printing Works will 41724
not be held responsible for the quality of
“Hard Copies” or “Electronic Files”
submitted for publication purposes
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2   No. 41724 GOVERNMENT GAZETTE, 21 JUNE 2018

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 STAATSKOERANT, 21 JUNIE 2018 No. 41724   3

IMPORTANT NOTICE:
The GovernmenT PrinTinG Works Will noT be held resPonsible for any errors
ThaT miGhT occur due To The submission of incomPleTe / incorrecT / illeGible coPy.

no fuTure queries Will be handled in connecTion WiTh The above.

Contents
Gazette Page
No. No. No.

Government Notices • Goewermentskennisgewings

National Treasury/ Nasionale Tesourie

634 Public Finance Management Act (1/1999), as amended: Borrowing powers of water boards listed under Schedule
3 Part B of the Act..................................................................................................................................................... 41724 4

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 4   No. 41724 GOVERNMENT GAZETTE, 21 JUNE 2018

Government Notices • Goewermentskennisgewings

National Treasury/ Nasionale Tesourie

NATIONAL TREASURY
NO. 634  21 JUNE 2018
634 Public Finance Management Act (1/1999), as amended: Borrowing powers of water boards listed under Schedule 3 Part B of the Act 41724

PUBLIC FINANCE MANAGEMENT ACT, 1999

(ACT NO I OF 1999 AS AMENDED)
BORROWING POWERS OF WATER BOARDS LISTED
UNDER SCHEDULE 3 PART B OF THE ACT

UMGENI WATER
FINANCIAL YEAR AMOUNT
Ending 30 June 2019 R6 345 million
Ending 30 June 2020 RB 265 million
Ending 30 June 2021 R11 605 million

The proposed borrowing limits reflect the maximum balance of interest-bearing debt at any point in
time for the relevant period and takes into account Rand Waters existing outstanding interest-
bearing debt. This means that for as long as Rand Water has interest -bearing debt on its statement
of financial position (or balance sheet), it will need to have a borrowing limit in place. The proposed
borrowing limits are set to expire on 30 June 2021 and a new borrowing limit will have to be
considered upon expiry, provided Rand Water has borrowings recorded in its statement of financial
position.

The approval of the borrowing limits are subject to the following conditions that have to be adhered
to by Rand Water:

A gearing limit of 50% calculated as follows: interest- bearing debt relative to total equity;
A minimum cash interest cover (CIC) ratio of 3, calculated as follows: cash generated from
operations (before changes in working capital) relative to finance costs;
A minimum debt service cover ratio (DSCR) of 1, calculated as follows: cash generated from
operations (before changes in working capital) relative to the sum of finance costs and
debt/capital repayments;
Rand Water submits quarterly progress reports to the Asset and Liability Management
division on the Borrowing Programme and Funding Plan, including utilisation of the borrowing
limit; and
Rand Water submits bi- annual reports to National Treasury's Asset and Liability
Management division on the progress of major capital expenditure projects and project plans
for the upcoming 6 months. If there are any delays in the projects, the entity should provide
reasons far such del

LANHLA NENE, MP
MINISTER OF FINANCE
Date: tit (2_0

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 STAATSKOERANT, 21 JUNIE 2018 No. 41724   5

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6   No. 41724 GOVERNMENT GAZETTE, 21 JUNE 2018

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 STAATSKOERANT, 21 JUNIE 2018 No. 41724   7

Warning!!!
To all suppliers and potential suppliers of goods to the
Government Printing Works

The Government Printing Works would like to warn members of the public
against an organised syndicate(s) scamming unsuspecting members of the
public and claiming to act on behalf of the Government Printing Works.

One of the ways in which the syndicate operates is by requesting quotations for
various goods and services on a quotation form with the logo of the
Government Printing Works. Once the official order is placed the syndicate
requesting upfront payment before delivery will take place. Once the upfront
payment is done the syndicate do not deliver the goods and service provider
then expect payment from Government Printing Works.

Government Printing Works condemns such illegal activities and encourages

service providers to confirm the legitimacy of purchase orders with GPW SCM,
prior to processing and delivery of goods.

To confirm the legitimacy of purchase orders, please contact:

Renny Chetty (012) 748-6375 (Renny.Chetty@gpw.gov.za),

Anna-Marie du Toit (012) 748-6292 (Anna-Marie.DuToit@gpw.gov.za) and

Siraj Rizvi (012) 748-6380 (Siraj.Rizvi@gpw.gov.za)

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8  No. 41724 GOVERNMENT GAZETTE, 21 JUNE 2018

Printed by and obtainable from the Government Printer, Bosman Street, Private Bag X85, Pretoria, 0001
Contact Centre Tel: 012-748 6200. eMail: info.egazette@gpw.gov.za
Publications: Tel: (012) 748 6053, 748 6061, 748 6065

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