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AGM presentation 17 Sep 2014AGM presentation 17 Sep 2014 11
Audit Opinion
Auditor-General issued an Unqualified Audit Report
Financial Statements are not materially
misstated Opinion is not given on Performance
Information Material adjustments to commitments were
processed in the current year
AGM presentation 17 Sep 2014AGM presentation 17 Sep 201422
Employers info – March 201418,401 (2013: 18,355) registered employers
4,147(2013: 5,068) employers paying SDL levy - Total levies received R269,9M (2013: R223,1M)
Applications received by 30 June 2013 (for 2014):WSP’s =1,759(2013: 1,835 )Total amount paid towards Mandatory Grants –
R54.9M (2013: R99.9M) Payout is 72%
AGM presentation 17 Sep 2014AGM presentation 17 Sep 2014 33
Levy Growth
AGM presentation 17 Sep 2014AGM presentation 17 Sep 2014 44
Levies AnalysisYear Amount R’000 Percentage Growth
%
2010 161 524
13.26%
2011 172 372
6.71%
2012 206 026
19.52%
2013 223 180 8.32%
2014 269 932 20.95%
AGM presentation 17 Sep 2014AGM presentation 17 Sep 2014 55
Project Grant Expenditure March 2014Total project spend: R144.2M (2013: R104.0M)
38.7% increase Top 10 projects on spending 71% of total
Project Expenditure
66
Name R-Millions
P4 Learnerships 18.2 R16.5M
P4 Interns R13.6M
FET Infrastructure R24.8M
P7 Learnerships 18.1 R13.2M
P7 Commodity Orgs R7.5M
P4 Apprenticeship and ABET R4.5m
4.1 Mentoring and support for Land Reform
R7.2M
P4&P7 Skills Delivery Administration R5.4M
P7 Skills Programmes 18.1 R4.6M
P4 Graduate Placements R5.7M
Statement of Financial Performance March 2014INCOME 2013/14
R’0002012/13
R’000%
Movement
Levies, penalties & interest 273,565 225,542 21.29%
NSF & special projects income 24,702 15,474 59.64%
Investment and other income 9,347 8,480 10.22%
Total 307,614249,496
23.29%
AGM presentation 17 Sep 2014AGM presentation 17 Sep 2014 77
Statement of Financial Performance March 2014
EXPENSES 2013/14 R’000
2012/13 R’000
% Move
Employer grant Discretionary >Paid Movement in Accrual FET Infrastructure
54,936
109,5779,856
24,844
99,892
101,4172,598
0
(45.00%)
8.05%279.37%
100%
Admin expenses and finance costs
31,534 28,034 12.48%
NSF & Special project expenses
24,702 15,474 59.64%
Total 255,449 247,415 3.25%
Net Surplus/(Deficit): 52,165 2,081 2406.73%
88
Statement of Financial Position March 2014
ASSETS 2013/14R’000
2012/13R’000
% Move
Property Plant & Equipment 4,502 4,627 (2.7%)
Intangible assetsReceivables
517,710
1610,780
(68.75%)64.29%
Cash and Bank 213,847 173,437 23.30%
Total 236,064 188,860 24.99%
AGM presentation 17 Sep 2014AGM presentation 17 Sep 2014 99
Statement of Financial Position March 2014EQUITY & LIABILITIES 2013/14
R’0002012/
13R’000
% Move
Grant and Other Reserves 168,584116,41
9 44,81%
Capitalisation reserve 3,107 3,107 0%
Payable & Provisions 61,641 67,572 (8.78%)
Grants & Donor Funding 2,733 1,762 55.11%
Total 236,065 188,860
24.99%
AGM presentation 17 Sep 2014AGM presentation 17 Sep 2014
Discretionary Reserve
AGM presentation 17 Sep 2014AGM presentation 17 Sep 2014
Year Discretionary Reserve
Approved By Board
Contracted
2013/14 R167,44M R145,28M R133,26M
2012/13 R115,15M R108,18M R77,20M
% Movement
45.41% 34.29% 72.62%
Allocation of Discretionary Allocation of Discretionary ReservesReserves
Cash Flow Statement –Summary March 2014
1212
Cash Flow Statement 2013/14R’000
2012/13R’000
Net Cash Outflow from operating Activities 40,848 (2,063)
2080.08%
Cash Outflow from Investing Activities (312) (169) (84.62%)
Net Decrease in Cash and Cash Equivalents 40,410 (2,301)
(1856,19%)
Opening Cash Balance 173,437 175,738 (0.13%)
Total 213,847 173,437 23.30%
Conclusion
1313
Questions?
Conclusion
Thank You
1414