. The financial statements indicated that the authority was solvent over the long-term with no risk of being unable to service or repay its debt. . Full cost recovery was obtained through water sold to consumers. . Constant tariffs were maintained in line with consumer price index. . The authority was in a position to repay its debt within the reasonable period of 20 years. . The authority complied fully with PFMA requirements and in accordance with international financial reporting standards. . It also reported a net project .deficit of R77 million that relates to a shortfall in covering interest costs.