GAZETTE NOTICE NO. 9074

Details

Act / Legislation

THE NATIONAL SOCIAL SECURITY FUND ABRIDGED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE, 2022 (I) STATEMENT OF CHANGES IN NET ASSETS FOR THE YEAR ENDED ON THE 30TH JUNE, 2022 2022 2021 KSh. KSh. Dealings With Members Contributions Receivable 15,915,480,093 14,472,520,612 Benefits Payable (5,430,388,800) (5,896,203,691) Net Dealings with Members 10,485,091,293 8,576,316,921 RETURN ON INVESTMENTS: Investment Income 26,817,167,282 21,635,960,454 Change in market value of investments (29,202,140,726) 11,547,732,218 217 THE KENYA GAZETTE 7th July, 2023 3006 3006 Gain (loss) on realization of investments (151,199,468) 58,895,311 Investment Management Expenses (615,789,515) (508,604,076) Net Return on Investments (3,151,962,427) 32,733,983,907 Other Income 753,433,329 92,433,789 Gross Revenue (2,398,529,097) 32,826,417,696 Operating Cost (6,850,324,926) (6,568,902,050) Net Increase In Scheme Funds 1,236,237,270 34,833,832,567 Net Assets as at 1 July 284,486,978,670 249,653,146,103 Net Assets as at 30 June 285,722,864,940 284,486,978,670 (II) STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEAR ENDED 30TH JUNE, 2022 2022 2021 ASSETS KSh. KSh. Cash and bank balances 1,019,225,791 571,000,978 Call and Fixed Deposits 10,087,418,200 8,369,320,000 Government Securities-(Treasury bills) 1,626,492,637 1,210,396,800 Government Securities-(Treasury bonds) 161,196,499,180 152,940,388,443 Corporate bonds 1,752,204,250 1,088,144,566 Accrued Income 6,733,192,058 4,812,348,744 Stores and Supplies 12,860,566 79,304,872 Receivables and Prepayments 7,465,104,760 4,072,961,233 Staff Loans 189,975,157 230,590,974 TPS Loans 3,103,258,402 3,644,620,906 Staff Mortgage Scheme 1,258,167,866 1,227,421,830 Quoted Stocks 466,465,299 445,204,638 Unquoted Stocks 57,804,630,700 66,655,124,043 Investment property 35,414,340,317 34,727,067,942 Assets under construction 154,985,746 5,152,734,819 Property, plant, and equipment 1,030,556,216 691,688,029 Total Assets 289,315,377,145 285,918,318,817 LIABILITIES Payables and accruals (3,592,512,207) (1,431,691,147) NET ASSETS 285,722,864,940 284,486,627,670 REPRESENTED BY: Members Funds 285,722,864,940 284,486,627,670 (III) STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 30TH JUNE, 2022 2022 2021 KSh. KSh. CASH FLOWS FROM OPERATING ACTIVITIES Net increase in assets 1,236,237,270 34,833,481,567 Adjustments: Depreciation on ppe 231,286,437 267,877,509 Amortisation of intangible assets 244,759,167 64,789,762 (Gain)/loss on disposal of property, plant and equipment - (35,535,775) Increase/(decrease) in provisions 371,576,471 129,778,343 Fair value gain/(loss) on revaluation 29,202,140,726 (11,547,732,218) Operating surplus/(deficit) before working capital changes 31,286,000,071 23,712,659,187 Changes in Working Capital: Decrease/(increase) in inventories 66,444,306 1,659,174 Decrease/(increase) in debtors and prepayments (3,392,143,527) (384,136,335) Decrease/(increase) in accrued income (1,920,843,314) 1,271,418,226 increase/(decrease) in payables and accruals 2,160,821,059 (397,652,995) (3,085,721,476) 491,288,069 Net cash flows generated from operating activities 28,200,278,596 24,203,947,257 CASH FLOWS FROM INVESTING ACTIVITIES Placement/withdrawal of deposits with financial institutions (1,748,844,235) 7,051,083,411 Purchase/sale or redemption of Treasury bills (416,095,837) 792,284,695 Purchase/sale or redemption of Treasury bonds (17,205,890,335) (30,435,003,537) Purchase/sale or redemption of corporate bonds (846,970,105) 272,100,000 Purchase/sale of unquoted equities (21,260,662) (20,161,004) Purchase/sale of quoted equities (7,649,782,437) (656,763,649) Purchase, development/sale of land and buildings 303,227,625 226,789,337 Assets under construction (490,053,193) (1,054,305,362) Purchase/sale of property, plant and equipment (283,038,526) (195,591,449) Receipts from TPS and other loans 606,653,922 320,824,266 Net cash flows from investing activities (27,752,053,783) (23,698,743,293) Net increase/(decrease in cash and cash equivalents 448,224,813 505,203,963 Cash and cash equivalents as at 1st July 571,000,978 65,797,015 Cash and cash equivalents as at 30th June 1,019,225,791 571,000,978 KEY HIGHLIGHTS 1. Growth in Net Assets Net Assets grew by KSh. 1.2 billion from KSh. 284.5 billion in 2021 to KSh. 285.7 billion in 2022. 7th July, 2023 THE KENYA GAZETTE 3007 2. Contributions Member contributions grew by 10% from KSh. 14.47 billion in 2021 to KSh.15.92 billion in 2022. 3. Return on investment Return on investment decreased from KSh. 32.7 billion in 2021 to minus KSh. 3.15 billion in 2022. The decrease was mainly caused by a decline in fair value loss in net investment income from valuation of quoted stocks at the Nairobi Securities Exchange (NSE). 4. Interest on Members’ Funds Section 2 of the NSSF Act

Signed By

DAVID KOROSS

Title

ANTHONY M. MUNYIRI,

Date Signed

30th June 2023

Page

31

Extraction Method

regex

Source Gazette