Income increased by 8% from P118.61 million in the previous year to P128.30 million in the year under review, while on the other hand, expenditure declined by 19% from P139.39 million in the previous year to P112.51 million during the year under review. 

The Centre is mainly funded by Government grants, and in the year under review the grant was P102.84 million, representing 80% of the total income compared to P97.74 million in the previous year. 

## 2.3 Working Capital 

The working capital position of the Centre as at 31 March 2018 showed total current assets of P88.71 million and total current liabilities of P22.38 million resulting in a net current assets position of P66.33 million. 

## 3.0 Management letter 

The auditors had issued a management letter and the matters raised dealt with accounting procedures and internal controls which were only of interest to management, hence did not merit mention in this report. 

## 141. Botswana Meat Commission 

The financial statements of the Botswana Meat Commission for the financial year ended 31 December 2017 were audited by Messrs Ernst & Young, Certified Auditors, who were appointed by the Commission in terms of Section 20 of the Botswana Meat Commission Act, (Cap 74:04). 

## 2.0 Accounts 

## 2.1 Audit Opinion 

In the opinion of the auditors: 

The consolidated and separate financial statements presented fairly, in all material respects, the financial position of the Botswana Meat Commission Group for the year ended 31 December 2017, and of its financial performance and cash flows for the year then ended, in accordance with International Financial Reporting Standards and in the manner required by the Botswana Meat Commission Act, (Cap 74:04), and for such internal controls as the Commission determined was necessary to enable the preparation of consolidated and separate financial 

