2.3  Working Capital 3.0 Management Letter 128. Botswana Couriers & Logistics Limited  2.0 Accounts  2.1 Audit Opinion Total income for the Group increased by 14% from P168.69 million  in the previous year to P191.50 million in the year under review,  while total expenditure increased by 32% from P117.88 million to  P156.07 million during the same period. Income for the Authority  increased by 11% from P124.48million in the previous year to  P138.63 million in the year under review, while expenditure  increased by 5% from P112.11 million to P118.25 million during the  same period. Significant increases in income were recorded in  Universal Access and Service Fund Levy and telecommunications fees, while in expenditure were project  expenses.  The working capital position of the Group as at 31 March 2018  showed current assets of P427.93 million and a current liability of  P24.48 million, which resulted in a net current asset of P403.45  million, while that of the Authority showed current assets of  P223.20 million and current liabilities of P44.28 million, resulting in a  net current position of P178.92 million.  Included in the current liabilities of the Authority is P20.37 million  current year surplus allocated for transfer to the Group’s reserves  as Universal Access and Service Fund in terms of Section 29 (3) of  the Communications Regulatory Authority Act, 2012. The auditors had issued a management letter and matters raised  dealt with accounting procedures and internal controls which  were of interest only to management, hence did not merit  mention in this report.  The financial statements of Botswana Couriers & Logistics (Proprietary)  Limited for the financial year ended 31 March 2018 were audited by  BDO, Certified Auditors, who were appointed by the Board. In the opinion of the auditors:  The annual financial statements presented fairly, in all material  respects, the financial position of Botswana Couriers & Logistics  111 