GAZETTE NOTICE NO. 7651

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 2021/22 Audited results for the Unclaimed Financial Assets Trust Fund: 9th June, 2023 THE KENYA GAZETTE STATEMENT OF FINANCIAL PERFORMANCE 2022 2021 Notes Sh. ‘000 Sh.‘000 Income Revenue from exchange transactions Investment income 6 1,860,756 1,586,364 Investment income from Call deposits 2,509 342 Total income 1,863,265 1,586,706 Expenditure Expenses* Total expenses - - Surplus for the period 1,863,265 1,586,706 Note. *Expenses of the Fund are incurred and absorbed by the Authority in line with section 44 of the Unclaimed Assets Act, which gives it the responsibility to manage and operate the Unclaimed Financial Assets Trust Fund. The Authority prepare a separate set of Financial Statements, in line with the State Corporations Act. STATEMENT OF FINANCIAL POSITION Notes 2022 2021 Assets Sh. ‘000 Sh. ‘000 Current Assets Cash and cash equivalents 4 291,873 217,378 Receivables 5 1,027,175 822,429 Investments 6 27,007,309 23,730,691 Total Assets 28,326,357 24,770,498 Trust Fund and Liabilities Payables Claims 8 9,301 94,891 Transfer to UFAA 565,833 714,100 575,134 Total Payables 808,991 Trust Fund Unclaimed Assets 21,994,278 19,508,227 Revenue reserve 5,756,945 4,453,280 Total Trust Fund 27,751,223 23,961,507 Total Trust Fund and Liabilities 28,326,357 24,770,498 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 Bill Investments that have not matured 6. Investments Investment by the Authority, as currently approved by the Cabinet Secretary, the National Treasury, is 100% in Treasury Bills hence investment income is from Treasury Bills 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 2022 2021 Shares 29,801,553 20,112,474 Unit Trusts 22,093 20,129 Total (ii) Assets whose values is not known, until they are accessed: Asset Type 2022 2021 Safe Deposit boxes 3,661 2,844 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 2021-2022 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, JOHN K. MWANGI, Chairman, UFAA. CEO/Managing Trustee. MR/5151483 2550 2550