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Mangosuthu University of Technology Annual Report
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Current assets
Current assets decreased from R364.402 million in 2014
to R326.275 million in 2015. There were no infrastructure
funds received in 2015.
Non-current liabilities
Non- current liabilities increased from R272.612 million in
2014 to R288.796 in 2015. The increase is as a result of a
loan of R50 million for the construction of residences.
Post-employment obligations decreased by R29.476
million. The buy-out of the post-retirement medical
liability contributed in reducing the liability.
Current liabilities
Current liabilities increased from R311.139 million in 2014
to R342.170 million in 2015. The increase can be attributed
to construction invoices outstanding at year end.
Financial Indicators / Ratios
Table 10.3: 5 Years Trend of Financial Indicators/Ratios
The current ratio and cash ratio are worsening. This might
be an indication of cash flow challenges in the near future.
Conclusion
Council and management are continuously working on
strategies to ensure the financial sustainability of the
institution. Student debt remains a major concern for
Council.
I would like to thank members of the Committee, members
of Council and Management for their support during the
year.
This report is signed by:
2010
2011
2012
2013
2014
2015
Excess of expenditure over total income
3% 1% 5% 0% 3% 1%
Personnel cost to unrestricted Income
62% 62% 63% 62% 64% 65%
Personnel cost as a % of total expend.
53% 54% 56% 45% 46% 45%
Subsidy as a % of income
53% 53% 50% 45% 43% 42%
Tuition and residence as % of income
41% 40% 44% 45% 47% 49%
Earmarked grants as a % of income
0% 2% 2% 7% 8% 6%
Other Income as a % of income
6% 5% 5% 4% 3% 2%
Current ratio
4.20
1.90
1.34
1.25
1.17
0.95
Cash ratio
3.64
1.56
1.15
0.90
0.99
0.79
Total debt as a % of Fees
57% 51% 43% 46% 46% 49%
Provision for bad debt as a % of debt
76% 76% 72% 64% 61% 63%
Increase in debt (R000)
9 238 -2 601
2 603 24 634 12 621 18 086