GAZETTE NOTICE NO. 8033

PURSUANT to section 46 (4) of the Unclaimed Financial Assets Act, 2011, the Board of Directors of the Unclaimed Financial Assets Authority publishes an extract of the FY 2022/2023 Audited results for the Unclaimed Financial Assets Trust Fund: STATEMENT OF FINANCIAL PERFORMANCE 2023 2022 Notes Shs ‘000 Shs ‘000 Income Revenue from exchange transactions Investment income 6 2,337,108 1,860,756 Investment income from Call deposits 13,692 2,509 Total income 2,350,800 1,863,265 Expenditure - - Expenses* Total expenses - - Surplus for the period 2,350,800 1,863,265 Note. *Expenses of the Fund are incurred and absorbed by the Authority in line with section 44 of the Unclaimed Assets Act, 2011 which gives it the responsibility to manage and operate the Unclaimed Financial THE KENYA GAZETTE 28th June, 2024 Assets Trust Fund. The Authority prepares a separate set of Financial Statements, in line with the State Corporations Act. STATEMENT OF FINANCIAL POSITION Notes 2023 2022 ASSETS Shs ‘000 Shs ‘000 Current assets Cash and cash equivalents 4 966,519 291,873 Receivables 5 1,239,563 1,027,175 Investments -T-bills 6b 28,761,959 27,007,309 -Bonds 6c 3,459,016 0 Total Assets 34,427,057 28,326,357 Trust Fund and Liabilities Payables Claims 8 1,073 9,301 Transfer to UFAA 944,295 565,833 945,368 575,134 Total Payables Trust Fund Unclaimed Assets 26,024,974 21,994,278 Revenue reserve 7,456,715 5,756,945 Total Trust Fund 33,481,689 27,751,223 Total Trust Fund and Liabilities 34,427,057 28,326,357 Disclosure Notes 4 Cash and Cash Equivalents This includes foreign currency that has been received by the Authority as converted at Year-end rates. 5 Receivables This is interest earned on Treasury Bills and Bonds Investments that have not matured. 6 Investments Investment by the Authority is 100% in Treasury Bills and Bonds, as currently approved by the Cabinet Secretary, National Treasury, hence investment income is from Treasury Bills and Bonds Issued by Central Bank of Kenya. 7 (b) Assets reported, but held by Holders on order of the Authority: (i) Assets with known values, converted at year-end closing rates where applicable (KSh. ‘000) Asset Type 2023 2022 Shares 27,213,284 29,801,553 Unit Trusts 52,298 52,557 Total (ii) Assets whose values is not known, until they are accessed: Asset Type 2023 2022 Safe Deposit boxes 3,794 3,661 Message from the directors of UFAA This is an extract from the Unclaimed Financial Assets Trust Fund’s financial statements audited by Office of the Auditor-General and approved by the Board of Directors of Unclaimed Financial Assets Authority. The financial statements are prepared under the International Public Sector Accounting Standards (IPSAS) accrual basis of accounting. A complete set of Financial Statements for FY 2022-2023 for the Trust Fund and full disclosures can be accessed on the Authority’s website www.ufaa.go.ke or the Authority’s Head Office at 2nd Floor Pacis Centre, Slip Road, off Waiyaki Way, Westlands. Signed: FRANCIS K. NJENGA (DR.) JOHN K. MWANGI, Chairman, UFAA. CEO/Managing Trustee. MR/6229520