Public financeGazette notice

Gazette Notice No. 6422 of 2025

The Sacco Societies Regulatory Authority publishes audited financial statements as at 30 June 2024.

Whole issue, from Kenya Law. This notice starts on printed page 2168.

AI-extractedAgreement between models, not verified accuracy.

What the notice says

Financial statement
Link

Body
THE SACCO SOCIETIES REGULATORY AUTHORITY
Office
Chief Executive Officer
Ends
30 June 2024

Schedule 104 rows

STATEMENT OF FINANCIAL PERFORMANCE FOR PERIOD ENDED 30TH JUNE, 2024
	Notes	2023-2024	Restated 2022-2023	2022-2023
Revenue		KSh.	KSh.	KSh.
Levies	6	638,196,678	588,092,320	588,092,320
Licenses, Fees and Permits	7	27,280,099	26,796,800	26,796,800
Total Revenue		665,476,777	614,889,120	614,889,120
EXPENDITURE
Use of goods and services	8	261,736,360	222,127,504	222,127,204
Employee costs	9	285,076,178	248,234,980	257,067,907
Board Expenses	10	29,742,685	27,861,651	27,861,651
Depreciation and amortization expense	11	87,710,643	110,150,596	110,150,596
Repairs and maintenance	12	4,487,193	3,037,685	3,037,685
Total Expenditure		668,753,058	611,412,417	620,245,043
Surplus/ (Deficit) for the period		(3,276,281)	3,476,703	(5,355,923)

STATEMENT OF FINANCIAL POSITION AS AT 30TH JUNE 2024
	Notes	2023-2024	Restated 2022-2023	2022-2023
ASSETS
Current Assets		KSh.	KSh.
Cash & Cash Equivalents	13(a)	276,432,475	354,839,594	354,839,594
Receivable from Non Exchange transactions	14	92,185,599	18,522,474	18,522,474
Total Current Assets		368,618,075	373,362,068	373,362,068
Non-current Assets
Property, plant and equipment	15(a)	104,262,430	170,685,416	170,685,416
Intangible assets	15(b)	6,922,500	3,993,033	3,993,033
Staff mortgage	16	90,549,039	45,416,465	45,416,465
		201,733,969	220,094,914	220,094,914
Total Assets		570,352,044	593,456,983	593,456,983
FUNDS & LIABILITIES
Current Liabilities
Trade and other payables	17	20,656,739	38,594,887	38,594,887
Provisions	18	5,326,106	8,217,040	17,049,667
		25,982,845	46,811,927	55,644,553
Funds & Reserves
Capital Reserves	19	799,467,544	798,467,121	798,467,121
Accumulated surplus/deficit	20	(268,098,345)	(264,822,064)	(273,654,690)
Revaluation	21	13,000,000	13,000,000	13,000,000
Total Funds and Reserves		544,369,199	546,645,057	537,812,431
Total Funds and Liabilities		570,352,044	593,456,983	593,456,983

STATEMENT OF CASH FLOWS AS AT 30TH JUNE 2024
	Notes	2023-2024	2022-2023
Cash flows from operating activities		KSh.	KSh.
Receipts
Government grants and subsidies -Recurrent
Levies - Sacco Deposits	6	638,196,678	588,092,320
License application fees	7	27,280,099	26,796,800
Total Receipts		665,476,777	614,889,120
Payments
Use of goods and services	8	220,609,493	180,998,338
Rent paid	8	41,126,866	41,128,866
Employee Expenses	9	285,076,178	257,067,907
Board Expenses	10	29,742,685	27,861,651
Repairs and maintenance	12	4,487,193	3,037,685
Total Payments		581,042,415	510,094,447
Surplus/Deficit before working capital changes		84,434,362	104,794,673
Working capital changes
Decrease/(Increase) in current receivables	14	(73,663,125)	(8,694,034)
Increase/(Decrease) in current payables	17,18	(20,829,082)	31,905,871
Net changes in working capital		(94,492,207)	23,211,837
Net cash flows from operating activities		(10,057,846)	128,006,510
Cash flows from investing activities
Purchase of property, plant, equipment and intangibles	15(a,b)	(24,217,124)	(24,860,266)
Staff mortgage	16	(45,132,574)	(45,416,465)
Net cash flows used in investing activities		(69,349,698)	(70,276,731)
Cash flows from financing activities
Transfer to capital	19	1,000,425	2,223,513
Net cash flows used in financing activities		1,000,425	2,223,513
Net increase/(decrease) in cash and cash equivalents		(78,407,118)	59,953,292
Cash and cash equivalents at1st July (B/F)		354,839,594	294,886,304
Cash and cash equivalents at 30 JUNE 2024		276,432,475	354,839,594

STATEMENT OF CHANGES IN NET ASSETS FOR THE PERIOD ENDED 30TH JUNE 2024
	Capital fund	Retained earnings	Revaluation Reserve	Total
	KSh.	KSh.	KSh.	KSh.
Balance as at 30 June 2021	630,909,209	(250,208,723)	13,000,000	393,700,483
Surplus/Deficit for the period	-	(32,838,997)	-	(32,838,997)
Add: Prior year adjustments		14,748,952.90	-	14,748,953
Donations	165,334,398.64	-	-	165,334,399
Balance as at 30 June 2022	796,243,608	(268,298,767)	13,000,000	540,944,838
Surplus/Deficit for the period	-	(5,355,923)		(5,313,923)
Interest on Staff Car loan and Mortgage	2,223,513	-	-	2,223,513
Prior Year Adjustments	-	8,832,626	-	8,832,626
Balance as at 30 June 2023	798,467,121	(264,822,064)	13,000,000	546,645,057
Surplus/Deficit for the period	-	(3,276,281)	-	(3,276,281)
Interest on Staff Car loan and Mortgage	1,000,425	-		1,000,425
Balance as at 30 June 2024	799,467,544	(268,098,345)	13,000,000	544,369,199

STATEMENT OF COMPARISON OF BUDGET AND ACTUAL AMOUNTS AS AT 30TH JUNE 2024
Details	Original Approved Budget 2023/24	Adjustments	Revised Budget 2023/24	Performance	Performance difference	% Performance	Notes
Recurrent Revenue:	KSh	KSh.	KSh.
Deposit Levy	655,960,489	-	655,960,489	638,196,678	17,763,811	97%
License fees and application fees	26,593,000	-	26,593,000	27,280,099	(687,099)	103%
Revenue from disposal of assets	682,553,489	-	682,553,489	665,476,777	17,076,712	97%
Rolled over Funds RBSS	103,550,308	-	103,550,308	103,550,308		6%	(c)
Performance security RBSS	20,842,287	-	20,842,287	-	20,842,287	0%	(d)
Sub total	124,392,595	-	124,392,595	103,550,308	20,842,287	11%
(A) Total Recurrent and Development Revenue	806,946,084		806,946,084	769,027,085	37,918,999	95%
Expenses
Use of goods and services	238,255,304	7,032,700	245,288,004	261,736,360	(16,448,356)	107%
Employee costs	302,619,004	-	302,619,004	285,076,178	17,542,826	94%
Board Expenses	29,871,800	-	29,871,800	29,742,685	129,115	100%
Depreciation and amortization expense	-	-	-	87,710,643	(87,710,643)
Repairs and maintenance	4,750,000	-	4,750,000	4,487,193	262,807	94%
Total Recurrent Expenditure	575,496,108	7,032,700	582,228,808	668,753,058	(86,224,250)	115%
Capital Expenditure
Motor Vehicle	9,000,000	(9,000,000)	-	-	-
Staff Car loan and Mortgage	36,700,000	(6,700,000)	30,000,000	30,000,000	-	100%
Furniture and Fittings		1,700,000	1,700,000	1,595,412	104,588	94%
ICT Equipment	-	6,967,300	6,967,300	6,967,300	-	100%
Total Capital Expenditure	45,700,000	(7,032,700)	38,667,300	38,562,712	104,588	100%
Development expenditure
Office partitioning and Fire Suppression	14,500,000		14,500,000	9,384,412	5,115,588	65%	(b)
Implementation of RBSS	124,392,595	-	124,392,595	6,270,000	118,122,595	6%	(c)
Total development expenditure	138,892,595	-	138,892,595	15,654,412	123,238,183	11%
(B) Total Recurrent and Development Expenditure	760,088,703		760,088,703	722,970,181	37,118,522	95%
(C)=(A-B) Total Revenue Less Total Expenditure	46,857,381	-	46,857,381	46,857,381	800,478
Recurrent Revenue:

Everyone named

Signed by	PETER NJUGUNA, Chief Executive Officer
Body	THE SACCO SOCIETIES REGULATORY AUTHORITY
Law	Sacco Societies Act

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Corrections 0

Corrected by: No corrigendum in the issues we hold.
Refers to: No other notices.

Cite

Kenya Gazette Notice No. 6422 of 2025, Vol. CXXVII No. 93, 16 May 2025, p. 2168.

Permalink funua.com/notices/2025/6422/.

About this data

Source: Official PDF of Vol. CXXVII No. 93, from Kenya Law
Extracted by: AI models
Model audit: An independent model agreed with 98 to 99% of compared values for land and succession notices, 97% overall. Agreement between models, not verified accuracy.
Review flag: None on this notice

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Filed under: Public finance, 2025 · May 2025 · Vol. CXXVII No. 93