The Centre is funded by Government grants. In the year under review, the grant was P35.88 million, making up 96% of the total income, compared to P36.39 million in the previous year. 

## 2.3 Working Capital 

The working capital position of the Group as at 31 March 2018 showed current assets of P11.64 million and current liabilities of P18.85 million, resulting in a net current liabilities position of P7.21 million. 

The working capital position of the Company as at 31 March 2018 showed current assets of P19.71 million and current liabilities of P17.83 million, resulting in a net current assets position of P1.87 million. 

Included in the current liabilities is deferred capital grants of P13.82 million for the Group and Company, and provision for gratuities and leave of P3.95 million for the Group and P2.97 million for the Company. 

## 3.0 Management Letter 

The auditors had issued a management letter and the issues raised were only of interest to management, hence did not merit mention in this report. 

## 171. Non-Bank Financial Institutions Regulatory Authority 

The financial statements of the Non-Bank Financial Institutions Regulatory Authority for the financial year ended 31 March 2018 were audited by Messrs Grant Thornton, Certified Auditors, who were appointed by the Board in terms of Section 33 (1) of the Non-Bank Financial Institutions Regulatory Act, 2006. 

## 2.0 Accounts 

## 2.1 Audit Opinion 

In the opinion of the auditors: 

The financial statements presented fairly, in all material respects, the financial position of the Non-Bank Financial Institutions Regulatory Authority as at 31 March 2018, and its financial performance and its cash flows for the year then ended, in accordance with International Financial Reporting Standards. 

