2.3 Working Capital 3.0 Management letter 3.1 Fully Depreciated Assets  3.2  Long Outstanding Debts  mainly attributable to a revenue grant of P360.00 million in the  year under review and an increase of 30% in revenue from P1.41  billion in the previous year to P1.82 billion in the year under  review. Income increased by 55% from P1.43 billion in the  previous year to P2.23 billion in the year under review. Expenditure on the hand increased by 9.5% from P1.56 billion in  the previous year to P1.71 billion in the year under review.  The working capital position of the Corporation as at 31 March  2018 showed total current assets of P1 407.62 million and total  current liabilities of P654.78 million, resulting in a net current assets  position of P752.83 million.  The following were some of the matters raised by the auditors  and the management responses thereto:  The auditors noted that there were fully depreciated assets that  were still in use and management had not taken any action in  terms of re-assessing their useful lives. The cost amount of those  assets was P21.4 million In response management stated that there was an upcoming  asset verification project which would address the asset register  completeness and accuracy as assets would be traced to the  asset register. The project would also cover assessment of useful  lives.  The auditors noted that total debtors outstanding for over 90  days amounted to P431.27 million, including Government debtors who made 50% of total debtors at year-end. In response management stated that they had assembled a  team in March 2018, stationed in Gaborone, which focused on  debt collection and positive results were showing. Furthermore,  an expression of interest had been issued to identify legal entities  that would assist with debt collection and in the long term, a new  structure had been designed such that focus is on debt collection. 198 