AgriSeta AFS for the year ended 31 March 2011
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AGM presentation 14 Sep AGM presentation 14 Sep 2011 2011 1 AgriSeta AFS AgriSeta AFS for the year ended 31 March 2011 for the year ended 31 March 2011
description
AgriSeta AFS for the year ended 31 March 2011. Audit Opinion. Auditor-General issued an Unqualified Audit Report Emphasis of Matter Restatement of NSF Income/Expense VAT incorrectly paid on Learning Grants Reported on performance information – no findings. Employers info – March 2011. - PowerPoint PPT Presentation
Transcript of AgriSeta AFS for the year ended 31 March 2011
AGM presentation 14 Sep AGM presentation 14 Sep 20112011
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AgriSeta AFS AgriSeta AFS for the year ended 31 March 2011for the year ended 31 March 2011
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Audit OpinionAudit Opinion
Auditor-General issued an Unqualified Audit Report
Emphasis of Matteri. Restatement of NSF Income/Expenseii. VAT incorrectly paid on Learning
Grants
Reported on performance information – no findings
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Employers info – March 2011Employers info – March 2011
17,716 (2010:17,381) registered employers
4,775 (2010:4,424) employers paying SDL levy - Total levies received R161,5M (2010:R142,6M)
Applications received by 30 June 2010 (for 2011): WSP’s =1,741 (previously 1,709) Total amount paid towards Mandatory Grants –
R76.9m(2010 R72.5m)–Payout % 73%(2010:73%)
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Project Grant Expenditure Project Grant Expenditure March 2011March 2011
Total project spend: R116.6M (2010 R95.1M)
Top 5 projects on spending 65% of Total Project Expenditure
Name R-Millions
Workers Programmes R 22.4M
Learnerships R 19.1M
Skills Programmes R 18.1M
ABET R 10.2M
Non-Levy Enterprises R 6.5M
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Statement of Financial Statement of Financial Performance March 2011Performance March 2011
INCOME R’000
Levies, penalties & interest 174,068
NSF & special projects income 1,629
Investment and other income 9,681
Total 185,378
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Statement of Financial Statement of Financial Performance March 2011Performance March 2011
EXPENSES R’000
Employer grant Discretionary >Paid >Movement in Accruel
76,905
118,547(1,918)
Admin expenses 20,443
NSF & Special project expenses 1,629
Total 215,606
Net deficit: 30,228
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Statement of Financial Statement of Financial Position Position
March 2011March 2011ASSETS R’000
Property Plant & Equipment
4,448
Intangible assetsReceivables
451,635
Cash 147,458
Total 153,586
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Statement of Financial Statement of Financial Position March 2011Position March 2011
EQUITY & LIABILITIES R’000
Grant and Other Reserves 99,018
Capitalisation reserve 3,107
Payable & Provisions 51,009
Grants & Donor Funding 452
Total 153,586
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Discretionary ReserveDiscretionary Reserve
Discretionary Reserve
Approved By Board
Contracted
R 97.5M R 87.2M R 73.8M
Allocation of Discretionary Allocation of Discretionary ReservesReserves
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Cash Flow Statement –Summary Cash Flow Statement –Summary March 2011 March 2011
Cash Flow Statement R’000
Net Cash Outflow from operating Activities (11,517)
Cash Outflow from Investing Activities (199)
Net Decrease in Cash and Cash Equivalents (11,716)
Opening Cash Balance 159,174
Total 147,458
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ConclusionConclusion
• Questions?
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ConclusionConclusion
Thank YouThank You
