2.4 Working Capital  3.0 Management letter 3.1  Long Outstanding Debtors - Repeat Findings its annual profits as dividend to the Government. In the year  under review the Board was subject to tax, hence no dividends  were payable. The working capital position of the Board as at 31 March 2018  showed current assets of P356.40 million and current liabilities of  P348.70 million, resulting in a net current assets position of P7.70  million.  The following were some of the matters raised by the auditors  and the management responses thereto:  During the inspection of the debtors’ ledger the auditors noted  that P159.9 million was more than 120 days. This consisted mainly  of government balances. Furthermore, the auditors noted that  there were debtors who were more than 3 to 6 years which  included, among others, the following: According to auditors, the long periods of receivables days had  resulted in management taking up more bank overdrafts and  loans to ease the Boards cash flow challenges. Consequently, the  Boards’ finance costs had significantly increased by 20% to P16.2  million in 2018. As a result, the following short-term loans and  overdrafts were utilized during the year:  Department of Crops – Tati/Francistown and Masunga region  Bokaa Sorghum Mill  Bereshit Business Bureau  Borengwa Ba Mogoma Sorghum Milling (A.R. Bricks)  Botswana Vaccine Institute  Dichaba Sebogodi  Overdraft facility with Bank ABC – P19.2 million (2017; P20  million)  Overdraft facility with Standard Chartered – P27.5 million (2017;  P 30million)  Stanbic P50 million  FNB P39.6 million (2017; P8.9 million)  Barclays short-term loan P148 million (2017; P78 million) 105 