adminCatherine Murombedzi
The National Aids Council (NAC) recorded an increase in total income from the National Aids Trust Fund (NATF), this was revealed in a report by the council.
NAC total income was US$21,4m against a budget of US$19,8m for the six months ended June 2014. NATF contributed US$18,9m and receipts from the Global Fund were US$2,1m and a balance of US$0,47m came from investments. AIDS levy collections in comparison to 2013 during the same period last year increased by 33 percent.
Total revenue for the quarter April to June 2014 amounted to US$11,2m. Aids Levy collections amounted to 88 percent of the income, 8,8 percent came from the Global Fund and the balance was from investments. NATF budget for first semester amounted to US$17,05m against actual accruals of US$18,8m.
This was 10 percent above budget. GF brought in US$2,1m against a budget of US$2,7m. Surpassing target income under NATF guaranteed the availability of adequate funding for programme implementation during the period. This quarter NAC’s total revenue amounted to US$11,1m against a budget of US$10,1m. Of the total resources recorded NATF accruals were US$9,9m. Global Fund contributed US$0,98m while investment income and revenue grant amounted to US$0,28m. During the same time last year the council received US$9,1m.
Resources from AIDS Levy (US$9,9m) for the period April to June 2014 surpassed the projection by 15,8 percent.
Aids levy collections for semester ending June 30, 2014 were US$18,8m against a projection of US$17,5m. The collections surpassed the target by 10 percent. The achievement is attributed to the robust revenue collection strategies implemented by Zimra.
During the same semester last year the Council collected a total of US$15,35m. This year’s collections exceeded target by 22,3 percent. Funds held in short term placements as at June 30 2014 amounted to US$6,68m as compared to US$3,3m same time last year. Funds meant for procurement of ART commodities, which on average takes up to 3 months are placed in short term investments pending conclusion of procurement processes.
Online Reporter