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made when funds become available. As at 31 July 2018 the BURS statement indicated that the Council did not owe interest and/or penalties, however should these charges resurface the Council would write to the Minister responsible for finance to ask for a waiver as advised by BURS. 

## 3.2 Property, Plant and Equipment 

The auditors noted some fully depreciated assets that were still in use and provided economic benefits to the Council, which was in breach of International Accounting Standard 16 and International Accounting Standard 38 which require that assets be periodically revalued to reflect their economic useful lives. The following were the assets that were identified: 

<img src='content_image/450464.jpg'>

In response management stated that they intended to review the useful lives of all the Council assets, and a tender for asset valuation and useful lives had been floated and would be completed within the ensuing financial year. The asset management policy would be reviewed to include a provision for the review and revaluation of assets. 

## 132. Botswana Fibre Networks (Proprietary) Limited 

The financial statements of Botswana Fibre Networks (Proprietary) Limited for the financial year ended 31 March 2018 were audited by Messrs KPMG, Certified Auditors, who were appointed by the Board. 

## 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 Botswana Fibre Networks (Proprietary) Limited as at 31 March 2018 and its financial 

