Page 265 - PWA_2023_Annual_Report

Provincial Waterworks Authority Annual Report 2023 263

5.16 Accrued expenses consisted of the following:
Unit : Million Baht
Financial statement-equity
method applied/
Separate financial statements
2023 2022

Accrued interest 117.06 89.45
Accrued electricity 287.33 318.66
Accrued Purchase water 702.91 599.42
Total accrued employee gratuity fund 13.78 11.53

Accrued other expenses 408.88 367.75
Total 1,529.96 1,386.81

5.17 Accrued remittance to the Ministry of Finance consisted of the following:
Unit : Million Baht
Financial statement-equity
method applied/
Separate financial statements

2023 2022

Beginning Balance 1,554.00 1,505.40
Add Increase during installments 2,831.20 1,554.00
4,385.20 3,059.40
Less Deduction of levies of 2022 (277.32) -

brought to Ministry of Finance (1,276.68) (1,505.40)
Accrued remittance brought forward 2,831.20 1,554.00

As determined by the Ministry of Finance, PWA has to pay remittance at a rate of 50 percent
of net profit before deducting bonuses of employees and the board of directors. The period of
remittance was set twice a year; firstly, deliver interim within July every year; and secondly, deliver after
the Auditing Office verifies and certifies the balance sheet. If the State Enterprise has liquidity problem,

it is allowed to ask for extension case by case.
The State Enterprise Policy Office sent the letter No. KorKhor 0818.2/2167, dated 23 May 2023,
to inform the PWA to delivery levies of 2022 amounting to 1,276.68 million baht, decreasing from the
amount specified by the Annual Expenditure Budget in the Fiscal Year 2023 of 277.32 million baht. In 2023,
the PWA paid remittance amounting to 1,276.68 million baht, the total of which was of 2022.
The remaining amount of 2,831.20 million baht is recorded as accrued remittance to the Ministry in 2023.