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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
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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-MillionsWorkers Programmes R 22.4MLearnerships R 19.1MSkills Programmes R 18.1MABET R 10.2MNon-Levy Enterprises R 6.5M
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Statement of Financial Statement of Financial Performance March 2011Performance March 2011
INCOME R’000Levies, penalties & interest 174,068NSF & special projects income 1,629Investment and other income 9,681Total 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 20,443NSF & 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’000Property Plant & Equipment
4,448
Intangible assetsReceivables
451,635
Cash 147,458Total 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 99,018Capitalisation reserve 3,107Payable & Provisions 51,009Grants & Donor Funding
452Total 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’000Net 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 159,174Total 147,458
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ConclusionConclusion
• Questions?
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ConclusionConclusion
Thank YouThank You
