BANKSETA ANNUAL REPORT 2009/10 - Home Page … · BANKSETA ANNUAL REPORT 2009/10 ... Auditor-General’s Report 31 ... of a global economic downturn that decimated jobs and placed

B A N K S E TA A N N U A L R E P O RT

2009/10

REPUBLIC OF SOUTH AFRICA

higher education & trainingDepartment:Higher Education and Training

Highlights of 2009/10

• 1000newLETSEMAlearnerswererecruited,bringingthetotalnumberoflearnersrecruitedsince2005to6200.Placementratesforcompletedlearnershipsconsistentlyexceed75%.

• TheBANKSETAbecamethefirstSETAtostartfundingdoctoralandpost-doctoralstudies.• TheIntroductoryCourseinIslamicBankingwaslaunchedtofurtherenhancediversityandtransformationin

thesector.• TwonewCentresofExcellencewereopened,oneattheUniversityofFortHareandtheotherattheNorth-

WestUniversity,therebyextendingtheBANKSETA’sprovincialreach.• Amobiletrainingsolutionwaslaunchedasavehicletotakeskillsdevelopmenttosmallandmicroenterprises

(SMEs)inoutlyingareas.• StakeholdersinthesectorsupportedtheBANKSETA’sapplicationtocontinueoperatingunchangedwhen

thenewSETAlandscapeisintroducedinlinewiththeNationalSkillsDevelopmentStrategyIII.• Inthemeantime,theBANKSETA’soperatinglicencewasrenewedforafurtheryear,until31March2011.• TheBANKSETAachieved full ETQAaccreditation for another three years, basedon its newly launched

operatingmodel.

HonourableMinister,itiswithpleasurethatwepresenttoyoutheAnnualReportoftheBANKSETAfortheperiod1April2009to31March2010.

EugeneEbersohnChairperson

DrBladeNzimandeMinisterofHigherEducation&Training

Annual Report of the BANKSETA

Publisher BANKSETA POBox11678 VornaValley 1686

Designandlayout BlackmoonDesignandAdvertising

RP 97/2010

ISBN 978-0-621-39425-2


higher education & trainingDepartment:HigherEducationandTraining

2009/10

1.Chairperson'sReport

2.ChiefExecutiveOfficer'sReview

5.Reach 6.Delivery

a. ProvincialFootprint 20

b. CentresofExcellence 20

c. Research 21

a. ServiceLevelAgreement(SLA) 24

b. DiscretionaryProjects 24

page 19 - 21

page 4 - 5

page 22 - 27

page 6 - 8

3.Foundation

a. Vision,Mission,ValuesandObjectives 10

b. Strategy 10

c. Governance 11

d. OurPeople 13

e. CustomerSatisfactionSurvey 13

f. Sustainability 13

4.Operations

RoleoftheCoreDepartments 16

RoleoftheSupportUnits 17

page 28 - 78

page 9 - 14

page 78 - 95

page 15 - 18

8.AnnexuresandAcronyms

AnnexureA:CouncilMembersandCommitteeAttendance 80

AnnexureB:HumanResources 82

AnnexureC:RegisteredandDe-RegisteredLearnerships 84

AnnexureD:BANKSETANSDS2009/10Achievements 86

AnnexureE:DiscretionarySectorProjects 91

Acronyms 97

7.AnnualFinancialStatements

StatementofResponsibility 30

Auditor-General’sReport 31

AuditCommitteeReport 33

AccountingAuthority'sReport 35

StatementofFinancialPerformance 38

StatementofFinancialPosition 39

StatementofChangesinNetAssets 40

CashFlowStatement 41

StatementofComparisonofBudgetandActualAmounts 42

AccountingPoliciestotheAnnualFinancialStatements 43

NotestotheAnnualFinancialStatements 50

4 | CHAIRPERSON’S REPORT

Chairperson’sReport The2009/10financialyearwasoneofthemostchallengingyetinthe10-yearhistoryof South Africa’s sector education and training authorities. During the year, theDepartmentofHigherEducationandTrainingtookoverresponsibilityfortheSETAsfromtheDepartmentofLabourandcommencedareviewoftheSETAlandscape.Atthesametime,employersandorganisedlabourhadtocontendwiththeaftermathofaglobaleconomicdownturnthatdecimatedjobsandplacedmostorganisationsunderpressuretocutcosts.Inthesecircumstances,theBANKSETAagainproveditsworthastheskillsdevelopmentpartnerofthebankingandmicrofinancesector.

BANKSETAAnnualReport2009/10| 5

Grow

ingForward|1 C

hairperso

n's Rep

ort

Theeffectsof the recessionwere reflected in the slightdropinlevyincome,whichfellfromjustoverR329millionlast year to R328 million in the financial year ended31March2010.Evenso,theBANKSETA,which iswellknown for being economical in spending stakeholdermoney,sustaineditstrackrecordofincreasingspendingondiscretionaryprojects.Infact,theorganisationincreasedthis component of its spending by an impressive 63%,fromR99millioninthepreviousyeartoR154million.Thissolid increase helped to cushion the recessionary blowon thesector’sskillsbaseandassistedstakeholders inpreparingfortheeconomicrecovery.

Theeffectivenessof this response,comingonthebackof the BANKSETA’s longstanding reputation as a top-performingSETA,explainsthewillingnessofstakeholdersto support the organisation’s application to continue initscurrentformat.WhentheDepartment*completestheSETAreviewin2010/11,weexpectthattheBANKSETAwill remain intact and will not be required tomerge orrestructure.

TheBANKSETA’ssuccesswasalsoacknowledgedatthefirstInterSETAconference,whichwasheldattheendofSeptember 2009 and chaired by the BANKSETA chiefexecutive officer,MaxMakhubalo. Itwas a privilege fortheorganisation tobeable to share itsexperienceandinsightsatthisevent.

Another successful event in September 2009 was theAnnual General Meeting of the BANKSETA. At the

AGM, Ihadtheprivilegeofbeingformally introducedtostakeholdersasthenewChairpersonoftheBANKSETACouncil,havingsucceededtheoutgoingChairperson,MrSipho Ngidi. The handover was exceptionally smooth,confirming the BANKSETA’s reputation for being wellorganisedandefficient.

Good continuity was also evident in the handling ofcorporategovernancematters.TheCouncilcommitteeswere effective in scrutinising the BANKSETA’s internalcontrols, financial reportingand remunerationpractices.TheCouncilwassatisfiedwiththewaythatmanagementimplemented the BANKSETA strategy and monitoredprogress against the Service Level Agreementwith theDepartment.

Finally,itisapleasuretoreportthat,forthe10thconsecutiveyear,theBANKSETAhasachievedanunqualifiedauditforthe2009/10financialyear.

EugeneEbersohn

*DepartmentReferenceto"Department"beforeNovember2009,readastheDepartmentofLabour.Referenceto"Department"afterNovember2009,readastheDepartmentofHigherEducationandTraining.

6 | CHIEF EXECUTIVE OFFICER'S REPORT

ChiefExecutiveOfficer’sReport

Aftertwodifficultyears,allindicationsarethattheSouthAfricaneconomyisemergingfromrecessionandthat thecountry’sbankingsectorhasweatheredthefinancialturbulence better thanmost. Although the recession resulted in a drop in leviesincome in thepastfinancial year,weareseeingpromisingsigns in theuptakeofemploymentandthedemandfortraininganddevelopment.


Grow

ingForward|2 C

hief Executive O

fficer's R

epo

rt

AswithallSETAs,thefutureoftheBANKSETAhasbeenuncertain pending the review being conducted by theDepartment. The Department has since recommendedthat theBANKSETA continuewith its existingmandatewithout beingmergedwith another SETA.We see thisasavoteofconfidenceintheworkwehavedoneinoursectoroverthepastdecade.

During 2009/10, in response to the needs of thesector, the BANKSETA introduced or extended variousproducts designed to help our stakeholders keep upwith international developments and improve the localrelevance of their offerings. An excellent example wasthe introduction of the BANKSETA-funded IntroductoryCourse on Islamic Banking, which was launched inJanuary2010.

In reaching out to small and micro enterprises (SMEs)in outlying areas, the BANKSETA launched a mobiletraining solution in the form of a bus equipped withsatellite technology, touch screen computers andofficeequipment.

WehavealsogoneoutintotheprovincestohelpimprovethepassratesinMathematics,AccountingandEnglishbycreatingCentresofExcellence.Thesefieldsarethemainbottlenecks for entry to thebankingprofessionandwearedeterminedtoassistinunblockingthem.

Toenhancetheglobalrelevanceofoursector,webecamethefirstSETA tostart fundingstudentsatdoctoral andpost-doctoral level for studies in fields such asAppliedEconomics,AppliedFinanceandAppliedAccounting.

Despitethetoughoperatingconditionsthatmostofourstakeholdersexperienced,thebankingsectorcontinuedto support the LETSEMA learnership programme forpost-matric learners and the KUYASA programme forunemployedgraduates.Bothlearnershipsenjoyveryhighplacementrates.

Forthefuture,weareresearchingtheRecognitionofPriorLearning(RPL)asamajorprojectforachievingequityandfairnessforpeoplewhohavecarriedoursectorformany

years.WehavemadegoodprogresswithRPLandarecurrentlydoingabenchmarkingexercisewiththeCentreforLearningSciencesandTechnologies (Celstec) in theNetherlands. In addition, the BANKSETA is busy looking at theapplicationof thedual education systembeingused inGermany,wheretwo-thirdsofpeoplewhohavepassedtheirmatriclevelgoontodoartisanshipsandlearnerships.I look forward to reportingback toourstakeholdersonourfindingsandnextsteps.

InvestmentbankingisanotherimportantareasinceSouthAfricahasadearthofblackinvestmentprofessionalsandfemales.Toaddressthis,wearefinalisinganagreementwith New York University’s Stern Business Schoolto introduce an International Executive DevelopmentProgramme (IEDP) in Investment Banking as from the2011/12financialyear.

TheBANKSETAalsocontinuesinvestinginourownstaffandincreatingaworkingenvironmentthatischallengingandinteresting,butalsoresponsivetopeople’sindividualcircumstances. We have introduced flexi-time andtelework to assist young employees with families, andthis is working well. Hence, despite the uncertainty inour environment, the BANKSETA has retained a coreof capable and motivated staff who have enabled ourresults.

We are truly indebted to our Council members and allthe people who serve on our subcommittees. Withoutthem,theBANKSETAsuccessstorywouldnothavebeenpossible.Theirselflessdedication to thenationalcall toimproveskillsandtransformoursectorwillleavealastinglegacy.TheBANKSETAfamilyisproudtoagainforwardasetofexcellentresultsinallrespects.Wearehumbledbytheopportunitytoserveourfellowman.

MaxMakhubalo

Foundation

a. Vision,Mission,ValuesandObjectives 10

b. Strategy 10

c. Governance 11

d. OurPeople 13

e. CustomerSatisfactionSurvey 13

f. Sustainability 13

page 9 - 14


Grow

ingForward|3 Fo

undatio

n

3.Foundation

a.Vision,Mission,ValuesandObjectives

VisionThe vision of the BANKSETA is to be recognised as acentreofexcellenceandinnovationforskillsdevelopmentinthebroaderBankingandMicrofinancesector MissionTosupporttransformationandpeopledevelopmentand,throughpartnerships,toenablestakeholderstoadvancethenationalandglobalpositionof thebroaderBankingandMicrofinanceindustry.

ValuesTheBANKSETAvalueshighlightthedesiredstandardsofbehaviourexpected fromallBANKSETArepresentativesin theirdealingswith stakeholders.Bywayof example,all employees are at all times required to demonstrateprofessionalism and customer focus, which are two oftheBANKSETA’sespousedvalues.Thus,valuesplayanimportantpartindrivingperformanceanddeliverywithintheorganisation.

TheBANKSETAhassevencorevalues,asfollows:

• Respect-Wetreatallpeoplewithrespect.• Innovation-Westriveconstantlytoupourgameand

perpetualdissatisfactionwiththestatusquoisourmantra.

• Customerfocus-Wetreatthecustomerasking.• Professionalism-Westrivetoupgradeour

informationbasebybenchmarkingandfollowingworld-classprinciples.

• Diversity-Wecelebratediversityasitstrengthensourculturalfabric.

• Integrity-Weactwithintegritytowardsallstakeholdersandsupportclientsthatupholdthesamevalues.

• Teamwork-AstheBANKSETAweareaseamlessteamintheserviceofourcustomers.

ObjectivesTheBANKSETAhas twomajorobjectives thatguideallactivities:

1. Enableskillsdevelopmentinthebroaderbankingandmicrofinancesector;and

2. ImplementtheNationalSkillsDevelopmentStrategyinthebroaderbankingandmicrofinancesector

The functions of a SETA according to the SkillsDevelopment Act (Act No. 97 of 1998) include thefollowing:

• DevelopandimplementtheSectorSkillsPlan;• Developandadministerlearnerships;• SupporttheimplementationoftheNational

QualificationsFramework(NQF);• ImplementEducationandTrainingQualityAssurance

(ETQA)responsibilitiesmandatedbytheSouthAfricanQualificationsAuthority(SAQA);

• Disburseleviescollectedfromemployersinthebankingsector;

• Forgelinkswithstakeholdersandbodiesinthebankingsector;

• Accountfortheeffectiveandefficientuseofpublicmoniesreceivedfromleviescollectedfromemployers,inlinewiththeprovisionsofthePublicFinanceManagementAct;and

• ReporttotheMinisterthroughtheDirector-GeneraloftheDepartmentonmattersrelatedtotheBANKSETA.

b.StrategyImplementation

The Chief Executive Officer and the BANKSETAManagementareresponsibleforimplementingthestrategyofCouncil.Toassistinstrategyexecution,theBANKSETAhasintroducedaBalancedScoreCard,whichisdirectlylinked to the approved strategy. The Balanced Score

10 | FOUNDATION

Card isproving invaluable inensuring thatall resourcesaremobilisedtowardsachievingthestrategicthemessetfortheyear.

TheBalancedScoreCardfor2009/10hadadashboardconsistingof five key themesand specificmeasures tomapprogress.Thethemesfortheyearwere:

• EnsuringaworkclimatethatsupportstheBANKSETAstrategy,withtheemphasisoninvestinginpeopleandembeddingavalue-drivenculture.

• Creating an efficient organisation aligned to sectorneedsandthenationalagenda.Thefocusofthisthemewasonlegalrequirements,corporategovernanceandtechnologicalinfrastructure.

• Developing relevant, high-quality skills to enabletransformation, with the emphasis on the qualityand relevance of BANKSETA products, customersatisfactionandprojectcontrols.

• Understanding thesupplyanddemanddynamicsofthe labour market in the banking and microfinancesector,highlightingresearchandskillsplanning.

• Buildingstrategicpartnershipswithkeystakeholders,includingserviceproviders.

c.Governance

TheBANKSETAiscommittedtoprinciplesandpracticesthat give stakeholders assurance that the organisationand its resources are managed soundly and ethically.The structure charged with overall governance is theBANKSETACouncil,whichisresponsibleforthegeneraldirection,policyandfinancesoftheorganisation.

Under theguidanceofCouncil, theBANKSETA followsbusinessandreportingpracticesthatareinlinewiththeCodeofCorporatePracticesandConductassetoutintheKingIIIReport,thePublicFinanceManagementAct(PFMA) (ActNo.1of1999)and theSkillsDevelopmentLeviesAct(ActNo.9of1999).

CouncilmembersCouncilmembersareappointedintermsoftheBANKSETAConstitution, in linewith theSkillsDevelopmentAct.TheCouncilrepresentsorganisedlabourthroughtheBankingEmployeesForumandorganisedemployers through theBankingEmployersForum.EmployersandemployeesareequallyrepresentedontheCouncil,withtheSouthAfricanReserveBank as a non-votingmember. Allmembers ofCouncilareboundbytheBANKSETACodeofConduct.

TheCouncilmeetseverytwomonths,orasrequired,toenable it to assert its governance responsibility as theAccountingAuthority.

FiduciaryresponsibilityofCouncilmembersAll Council members are aware of their fiduciaryresponsibilities and the need for fair, transparent andaccountabledecisionsandactions.

AllowancesforCouncilmembersCouncil members are not staff members of theBANKSETA. An allowance is paid to Councilmembersfortheirattendanceatandcontributionstothestatutorymeetings.Boardallowancesarepaidtotheconstituenciesthat members represent and not to the individual. TheallowanceratesapprovedbytheCouncilare:

• R1000paidtotheChairpersonforattendanceatmeetings

• R800paidtoCouncilmembersforattendanceatCouncilandCouncilcommitteemeetings.

ChangesinCouncilofficebearersandmembershipIn the 2009/10 financial year, Council Chairperson MrSiphoNgidihandedoverthereinstoincomingChairpersonMrEugeneEbersohn.MrRonaldRamabulanatookoverfromMrLawrenceMlotshwaasdeputychairperson.

TheCouncil alsowelcomedMsNitashaNaicker of theAfricanBankandMrGcobaniFipazaofFirstRandasnewmembers,followingtheresignationsofMrFrancoisHugoandMrSifisoMthembuofFirstRand.

It is standard practice to introduce new BANKSETACouncilmemberstothesystemsandpoliciesthroughaformalinductionprocess.Inthisway,theCouncilensuresthatmembers can immediately participate effectively inCouncil deliberations, while Council can in turn benefitfromtheexpertisethatnewmembersbringtobear.

ThreepermanentCouncilcommitteesareinplacetoassistthe Council in discharging its governance obligations.ThesecommitteesaretheAuditCommittee,theFinanceCommitteeandtheRemunerationCommittee.Detailsofthemembershipofthesecommittees,alongwithCouncilandcommitteemeetingattendancefortheyear,appearinAnnexureA(p80)ofthisannualreport.


Grow

ingForward|3 Fo

undatio

n

CouncilMembers

ChairpersonEugeneEbersohn

Sasbo

Deputy ChairpersonRonaldRamabulana

Absa Bank

BenVenter Sasbo

EugeneZeeman IBSA

SiphoNgidi Standard Bank

HennieFerreira Micro Finance SA

VanessaHattingh Sasbo

IsaacRamputa Sasbo

ShirleyZinn Nedbank

JennyJeftha South African Reserve Bank

NitashaNaicker African Bank

GcobaniFipazaFirstRand

JoeKokela Sasbo

12 | FOUNDATION

d.OurPeople

The BANKSETA aspires to be recognised as a centreof excellence within its sector. With this in mind, theorganisation benchmarks itself against other employersin the financial servicessector, aswell asagainstotherSETAs.Toattractandretainthebestskillsinasmallandhighly competitive marketplace, the BANKSETAmakessignificantinvestmentsinthedevelopmentandwellbeingofemployees.

During 2009/10, a total of R763 100 was spent onemployee training and development, which equates to6.8%of the totalpayrollbudget.This iswell above thebenchmarkof1%.

The training programmes presented during theyear demonstrate the BANKSETA’s commitment toteamwork, professionalism and personal accountability.All employees, from the CEO to the receptionist andhousekeepingpersonnel,attendedacourse inpersonalmastery and emotional intelligence. The entire teamalsoattendedprojectmanagementtraining,designedtoensure consistent, efficient projectmanagement acrossthe business. A third course that everymember of theBANKSETAattendedwasonsupplychainmanagement,focusing on ethical and legally compliant sourcingthat is guided by the Public FinanceManagement Act.Certificateswereissuedtostaffaftercompletingthethreecourses.

Recognising that it can be challenging to balancethe demands of work and family, the BANKSETA hasintroduced an Employee Wellness Programme. Thisprovidesaprofessional,confidentialpersonalsupportandinformationservice,whichisavailable24hoursaday,365daysa year. Thepurposeof theprogramme,onwhichR42750.00wasspentduring theyearunder review, istoequipemployeeswiththeskillstodealwitheverydaypersonal and professional situations while remainingproductiveatwork.

TheBANKSETArecordedastaffturnoverrateof16%during the year, compared to 28% in the previousyear. Inall, fiveemployees left theorganisation, threeof whomwere in administrative positions and two in

specialistpositions.Atotalofeightnewappointmentsweremade,bringing thestaffcomplementat theendoftheyearto31.

Asaleadingadvocateoftransformationinthesector,theBANKSETA seeks to be a role model in implementingemployment equity. Annexure B: Human Resources in2009/10 (p82) illustrates theequityprofileofemployeesasat31March2010.

e.CustomerSatisfactionSurvey

Eachyearsince2001,theBANKSETAhascommissionedanindependentCustomerSatisfactionSurveytotestthequalityofservicedeliveryagainstcustomerexpectations.TheresultsofeachannualsurveyarefedintothecorporatestrategyandtheBalancedScoreCard,ensuringthatthefindings are translated into action, whether to furtherimprovewinningpracticesor to address areasneedingimprovement.Inthisway,theBANKSETAhassucceededin achieving steady increases in customer approvalratingsovertheyears.Asaresult,the2009/10CustomerSatisfaction Survey was conducted from a high basescore,reflectingyearsofincrementalupwardmovement. This did not stop the BANKSETA from raising the baryetagain.Intheviewofcustomers,asmeasuredbythe2009/10 survey results, the organisation has continuedtoliftitsalreadystrongperformanceinseveralimportantareas. Onewasthequalityof theBANKSETA’strainingprovidersandinternationalpartnersonthedevelopmentprogrammesspecifically.Anotherhighlyratedareawasthecoursecontentofprogrammes,whichmanycustomersregardas valuable.A third strengthwas theusefulnessandrelevanceofBANKSETAforums.Whilenotingthesepositive results, the BANKSETA is also addressing thefewareasthatcustomershighlightedasbeinginneedofimprovement.

f.Sustainability

The BANKSETA is a responsible corporate citizenthat strives to make a positive social, environmentaland economic impact. Sustainability imperatives andobjectives are intrinsic to the organisation’s skillsdevelopmentmandate in thebanking andmicrofinance


Grow

ingForward|3 Fo

undatio

n

sector.Overandabovethis,theBANKSETAstrivestobea transformation role model by promoting employmentequity, preferential procurement and corporate socialinvestment (CSI), among other elements of economicempowerment.

In termsofCSI, theBANKSETA’sflagshipproject is thesupportprovidedtoaselectedcharityinDecembereachyear. Annually at this time, the BANKSETA selects aworthycausetosupportinsteadofprintingfestiveseasoncards.ThechoiceismadebytheBANKSETAstaff,whovoteforthecharityoftheirchoice.InDecember2009,theBabiesBehindBarsinitiativereceivedthemostvotesandtheBANKSETA respondedbyprovidingbaby foodandformula to the valueofR10000.TheorganisationalsotookpartintheCellCTakeaGirlChildtoWorkinitiativeinMay 2009 and inMandela Day activities on 18 July2009.

A growing focus of the business is on expandingits geographic footprint while using resources in anenvironmentallyresponsibleway.Everyeffort ismadetorecyclepaperandusedinkcartridges.

14 | FOUNDATION

BANKSETA COUNCIL

CEOMaxMakhubalo

PAPreciousSikhosana

Corporate ServicesManager

ChristineFritz

HR Manager

DimakatsoSeete

ETQAManager

KarenHobbs

Development Programmes Manager

LynetteMentor

Skills DevelopmentManager

TrevorRammitlwa

Learning Programmes Manager

PauletteBourne

Marketing & Communication Manager

KaaminiReddy

AdministratorMabellyneLenyai

ReceptionistPaulinaShai

AdministratorNyekoMayimela

AdministratorMirriamChauke

AdministratorKgomotsoKhoale

HousekeeperThelmaBaloyi

SpecialistSharonMokgwathlheng

SpecialistAyandaMaki

AdministratorRozahMagamba

SpecialistMaryBaloyi

SpecialistJoletteLeRoux

SpecialistMadeleinePelzer

HousekeeperPortiaKekana

SpecialistSharissaNaicker

SpecialistNobuzweMangcu

SpecialistCarolineKing

AdministratorSilindileBulunga

SpecialistCharmaineJanisch

SpecialistAumaNnane

SpecialistIsabeldeNecker

SpecialistDeeraniNaidoo

Head of ResearchSipheloNgcwangu

TheBANKSETATeam

Operations

RoleoftheCoreDepartments 16RoleoftheSupportUnits 17

page 15 - 18

16 | OPERATIONS

Operations

TheBANKSETAisasmall,agileorganisationconsistingof fourcoredepartmentsthatdeliverservicestostakeholdersinthesectorandthreeunitsprovidingsupportservices.Asat31March2010,thecoredepartmentswereLearningProgrammes,DevelopmentProgrammes,SkillsDevelopmentandSMESupport,andEducationand Training Quality Assurance (ETQA). The support units were Marketing andCommunication,CorporateServicesandHumanResources.

Roleofthecoredepartments

a.LearningProgrammes

Thisdepartmentpromotes,supportsandimplementsnewandexistingskillsdevelopmentinitiativesforBANKSETAstakeholders,includingexistingemployees,newentrantsandpotentialnewentrants,aswellasemployers in thebroader Banking and Microfinance sector. It overseesthe implementation of sector-appropriate learningprogrammes, including learnerships, internships, workreadiness programmes and bridging programmes thattargetbothemployedandunemployedlearners.RefertoAnnexureC:RegisteredandDe-registeredLearnerships(p84).

b.DevelopmentProgrammes

Development Programmes co-ordinates the leadershipand management development programmes that theBANKSETAfundsforthebankingandmicrofinancesector.Duringthe2009/10financialyear,theemphasiswasonthe International Executive Development Programmesand the Junior and Middle Management Programme,aswell as the funding ofMaster’s and Executive shortcoursesanddoctoralandpost-doctoralstudies.AnotherimportantstepwastheestablishmentoftheDiscretionaryGrant Funding Window project for discretionary grantapplications.

ProjectmanagementandadministrationattheBANKSETAarecentralisedwithinthisdepartment,whichmaintainstheProjectSystemandisresponsibleforprojectmanagementpolicy,proceduresandthequalitymanagementsystem.Akeyresponsibility is formulatingand implementingtheBANKSETADiscretionaryGrantPolicy.

c.SkillsDevelopmentandSMESupport

The department, which is the sector’s point of contactfor workplace skills plans and annual training reports,managestheBANKSETA’sresearchstrategyandcompilestheannuallistofscarceskillsforthesector.Theteamalsopromotes SME participation in skills development andmanagesstrategicprojectsfundedthroughdiscretionarygrants.

EmployersregisteredwiththeBANKSETAwererequiredtosubmittheirannualworkplaceskillsplansandannualtraining reports on or before 30 June 2009. The highsuccess rate achieved can be ascribed to the vibrantcultureofparticipationinthesectorandtheBANKSETA’spracticeofholdingworkshopsandone-on-onemeetingswithstakeholderswhorequestthis.Theavailabilityoftheonlinesubmissionservicealsomakesiteasierandquickerforemployerstosubmittheirreports.

In partnershipwithMicro FinanceSouthAfrica (MFSA),theBANKSETAheldcontactsessionsformicrofinancersinall nineprovinces, reaching506delegates.Overand


Grow

ingForward|4 O

peratio

ns

above these sessions, a series of one-day workshopswasheldontopicssuchastheNationalCreditActandthe Magistrates Act, understanding and reporting onblack economic empowerment, and the measurementofproductivity.Furthermore,theBANKSETAenabled20delegatesfromvariousmicrofinanceinstitutionstoattendaninternationalconferencewithafocusonAfrica.

d.EducationandTrainingQualityAssurance(ETQA)

The BANKSETA ETQA is accredited by the SouthAfrican Qualifications Authority (SAQA) for the purposeofmonitoringandauditingachievements in thebankingsector. Its responsibilities are to accredit educationandtrainingproviders,promotetheintroductionofqualificationsinto the sector, support the sector in complying withbankinglegislationandregulations,andmaintainitsownSAQAaccreditation.

Inoneofthequalityassurancehighlightsoftheyear,theBoardofSAQAawarded full ETQAaccreditation statustotheBANKSETA.Theawardingoffullaccreditationwasannounced on 15March 2010. In the process leadinguptotheawardingofaccreditation,SAQAcommendedthe BANKSETA on many of its processes being BestPractice.

Theprocessofmovingfromprovisionalaccreditationtofull accreditation spanned 15 months and started withan analysis ofSAQA’s2008performance audit findingsand consultation with training providers in the sectorabout the need for change. This set the scene for thedevelopmentof thenewETQAoperatingmodel, furtherconsultationwithinthebankingandmicrofinancesectorandtheintroductionofnewfunctionalities.Theseincludestakeholdereducationservicestohelpprovidersachieveaccreditation, as well as the introduction of a full-timeresource for on-site monitoring and training providerauditfunctions.Apilotusertestingwithsectorprovidersaccompaniedeachstageofthenewmodel.

Anotherachievementstemmingfromthe introductionofthenewoperatingmodelwastheincreaseinthenumberof secondary providers (meaning other SETA providerswho are accredited by the BANKSETA for learningprogrammes based on BANKSETA qualifications). The

number had risen from zero to 12 by the end of thefinancial year. In linewith the applicablememorandaofunderstanding, theBANKSETAETQAonlymonitors thequality assurance of the specific learning programme,whiletheprimarySETAcontinuestomonitorthequalityoftheorganisation’sprovideraccreditation.

Accreditingnewtrainingprovidersisanimportantfunctionof the BANKSETA ETQA. In 2009/10, an additional 15providerswereaccredited,bringing the total numberofBANKSETA-accreditedprovidersto55.

RoleoftheSupportUnits

a.MarketingandCommunication

As shown in the findings of the 2009/10 CustomerSatisfaction Survey, there is a great need amongstakeholders in the sector for timely, quality informationon BANKSETA initiatives. In response, a concertedeffort has been made to strengthen the capacity ofthe Communication and Marketing team throughselective recruitment, complemented with training anddevelopment. This enabled the department tomaintainthe BANKSETA’s high media profile during the yearunderreview.Thatprofile,supportedbygoodcorporategovernanceandastrongtrackrecordofdeliveryagainstNSDStargets,continuestocontributetotheBANKSETA’sstandingasoneofthetopSETAsinthecountry.Internalcommunicationwasalsoaddressedinthefinancialyear,whentheBANKSETAimplementedaninternalnewsletterandanintranetsite.

b.CorporateServices

This department is responsible for the BANKSETAinternaloperations,corporategovernanceandpaymentofmandatorygrants.

In the sphere of governance, Corporate Services isresponsible for financial and resources management,strategic and business planning, reviewing the policieson office administration and corporate governance,coordinating internal and external audit, supportingCouncil, and reporting to the National Treasury andDepartment of Higher Education and Training. During2009/10, the unit ensured that the BANKSETA met

18 | OPERATIONS

its statutory reporting deadlines and that governanceprocesses and structures were running efficiently andeffectively.

In respect of mandatory grant payments, CorporateServices oversaw the BANKSETA’s transactions with atotalof552levy-payingcompanies.

InformationTechnologyInformation Technology’s main role is to support theBANKSETA to perform its daily operations and provideIT applications that support access to and deliveryof information. During 2009/10, the unit streamlinedinformation flow and management by completingseveralprojectsaimedatassisting internalandexternalstakeholders:

• A new online registration portal was designed andimplementedtoallowfortheregistrationofassessorsandmoderatorsthroughtheinternet.

• Anewresearchportalwasdesignedandintroduced.Itsfeaturesincludeablogthatallowstheknowledgemanagementcommunitytocommunicate.

• Internally,end-of-lifenotebookswerereplaced,whichhelped improvetheefficiencyandprofessionalismoftheorganisation.

• The FAIS e-Revision portal was developed andlaunched to assist stakeholders in preparing for thefirst-levelRegulatoryExams.

SupplyChainManagementSupportingBlackEconomicEmpowerment(BEE)suppliersisanotherwayofpromotingdiversityandtransformationwithin thesector.During the2009/10financialyear, theBANKSETAspentR1232346.40onpurchasinggoodsandservices fromhistoricallydisadvantaged individuals.This calculation is in accordance with the preferentialpoints system used in the Preferential ProcurementPolicyFrameworkAct(ActNo.5of2000),onwhichtheBANKSETA’sprocurementpolicyisbased.Inotherwords,the BANKSETA’s empowerment calculation is limitedto acquisitions over R30 000. The scope for awardingpreferential pointswill be broadened once the NationalTreasuryandtheDepartmentofTradeandIndustryhavealignedthepreferentialprocurementprocedureswiththeBroad-BasedBlackEconomicEmpowermentAct.

MandatoryGrantsThe BANKSETA had 461 SMEs and 91 medium andlargeorganisationsregisteredas levypayingcompaniesinthe2009/10financialyear.TheBANKSETAcontinuedits excellent track record in paying mandatory grantsto member organisations that participated in skillsdevelopment. During 2009/10, a payout rate of 96%wasachieved,comparedto96,76%inthepreviousyear.Payments were made in September 2009, December2009andMarch2010.AtotalamountofR200867000.00waspaidoutformandatorygrants.

c.HumanResources

ThefocusofHumanResources(HR)withintheBANKSETAis to take the initiative as a full strategic partner withintheorganisation,asopposedtosimplyprovidingroutineadministrative services. As a strategic partner, HRfocuses on aligning the operations of the organisationwith its culture, vision and values. Such alignment iskey to realising the optimal overall performance of theorganisation. Another priority is to assist employees inmaintainingahealthyworkandprivatelifebalance.Thereis also a major emphasis on continuous learning, asdemonstratedbythesignificant investmentmade inthedevelopmentoftheBANKSETA’semployees.

page 19 - 21

Reach

a. ProvincialFootprint 20

b. CentresofExcellence 20

c. Research 21

20 | REACH

Reacha.ProvincialFootprint

With its head office in Gauteng, the BANKSETA iscommittedtodevelopingandestablishingapresenceinallnineprovincesofSouthAfrica.Thisisbeingachievedthroughamulti-prongedstrategy,whichincludesopeningCentres of Excellence in partnership with historicallydisadvantaged institutionsofhigher learning,supportingProvincialSkillsDevelopmentForumsandstrengtheningrelationshipswithprovincialstakeholders.

ProvincialSkillsDevelopmentForumsIn 2009/10, the Provincial Skills Development Forumswere strengthened through the Skills DevelopmentAmendment Act 2008 and the InterSETA summitmotivatinginterSETAcollaboration.Asaresult,theformalestablishmentofprovincial InterSETAclustersor forumsgrew, further enhancing the relationships and provincialsynergybetween relevantSETAs. Aspartof theSETAcommunity, the BANKSETA has actively participated intheseforums.

MobileTrainingSolutionToextendtheBANKSETA’sfootprint intotheruralareasofSouthAfrica,amobiletrainingservicewaslaunchedinMpumalangaasapilotprojectduringtheyear.Thepilotreported indicated that themodelworkswellandplansareunderwaytointroducethissolutiontootherprovincesaswell.

b.CentresofExcellence

InFebruary2010,addingtothethreeCentresofExcellencelaunched in the previous financial year, the BANKSETA

celebrated the launches of the University of Fort Hareand North-West University as BANKSETA Centres ofExcellence.Asaresult,fiveCentresofExcellencewereinplaceasat31March2010,ensuringthattheBANKSETAmetthefive-yeartargetsetintheNSDSII.

The University of Fort Hare project provides fundingsupport to the Financial Markets Programme (FMP) attheUniversityofFortHarebyenhancingthecapacityoftheEconomicsDepartmentontheEastLondoncampusto the value of R2.4 million. Bursaries are granted tohonoursstudents,whichultimatelysupportstheentryofcriticaleconomicsskillstothebankingandmicrofinancesector.ThebursariescoverthecostoftheSouthAfricanInstituteofFinancialMarkets(SAIFM)examinations,whichare the professional exams studentswrite to qualify asbrokers and dealers in financial instruments at the endof theirprogramme. TheUniversityofFortHare isoneofthefirstuniversitiesinSouthAfricatohavethisfacilityfortrainingstudentsinlivetradingofequities,derivatives,bondsandforeignexchange.Inthe2009academicyear,theBANKSETAwassupporting20studentsthroughthisinitiative.

TheNorth-WestUniversityprojectisbeingundertakenincollaborationwiththeSouthAfricanInstituteofCharteredAccountants (SAICA). Itsaim istoaddresstheneedforhigh-levelfinancialskillswithintheNorth-WestProvince,aswellasinthebankingsector,byenhancingthecapacityoftheMafikengcampusoftheNorth-WestUniversity inthe critical skills field of Chartered Accountancy. TheBANKSETA’s funding of this Thuthuka Education andUpliftmentFundinterventionwasvaluedatR5millionforthe2009academicyear.Inthatyear,theprojectsupported


Grow

ingForward|5 R

each

114firstandsecondyearstudentsthroughbursariestoassistinpayingforaccommodationandtuitionfees.

TheBANKSETAdoesnotviewtheseprojectsas“once-off” funding gestures but plans to continue supportingthem, depending of course on the changes in theSETAlandscapewithinthenextyear.Bysupportingtheuniversities in thismanner the aim is to strengthen theeconomicviabilityandsustainabilityof the institutions inthelongterm.

c.Research

Decisionssuchaswheretobranchout intonewareas,geographicallyorintermsofskillsdevelopmentofferings,areinformedbyresearchthattheBANKSETAcarriesoutorcommissions.Bywayofexample,researchhasbeenplayingakeyroleinenablingtheorganisationtoextenditsprovincialfootprintbeyondGauteng,CapeTownandDurban.Specifically,throughitsresearch,theBANKSETAhas been able to select Centres of Excellence thatwillenable the organisation to have the greatest possibleimpact on the development of critical skills amongmarginalisedcommunities.

Basedonadditionalresearchandananalysisofemployers’workplace skills plans and annual training reports, theBANKSETApreparedtheannualSectorSkillsPlan,whichwassubmittedontimetotheDepartment.

The 2009/10 scarce skills list was published, withInformation and Communications Technology (ICT)toppingthelist.ThispromptedtheBANKSETAtoinitiatethe ICTSkillsSupportproject.First,a focusgroupwas

conducted and two priority areas were identified, ICTbusiness analysis and ICT project management. 31learnerswerethenenrolledforbusinessanalysisand29forICTprojectmanagement.

Aclearerpictureofthesector’sskillssupplyanddemanddynamics emerged in July 2009 when the BANKSETApublished a research report. The report depicts boththesupplyanddemandsidesdrawingfromquantitativedatacollectedandthekeyinformantinterviewsthatwerecarriedout.Thisreporthasbeenwidelydistributedinandoutsidethesector.

AlsoinJuly2009,theBANKSETAlaunchedanelectronicresearchportalwiththeaimofdisseminatingitsresearchas widely as possible. For the period under review,2 164 individuals or organisations registered to accesstheresearchpublishedontheportal.

InFebruary2010,BANKSETAsentafive-persondelegationfromthesectortoattendtheTechnoConferencepresentedby the American Society on Training and Development(ASTD). The aimwas to research and benchmark bestpractices in the latest and future technologies that aidlearning and development. This knowledge will assistin identifying platforms that will increase the scale andreachoflearninginterventionsandreducetheassociatedcosts.

Delivery

a. ServiceLevelAgreement(SLA) 24

b. DiscretionaryProjects 24

page 22 - 27


Grow

ingForward|6 D

elivery

Delivery

On31March2010,theBANKSETAcompleteditstenthyear inoperation,havinginitiallybeenestablishedon1April2010.Throughoutthisdecade-longperiod,theorganisationhasbeenregardedasoneofthetop-performingSETAs,consistentlymeetingandoftenexceedingitsannualperformancetargets.

OneofthecharacteristicsthatdistinguishtheBANKSETAisthescopeofitsproductrange. TheBANKSETA’s portfolio of products runs fromentry level right throughtotheseniormanagementandexecutivelevelsinthesector.Theseofferingsstartwith learnerships thatgivepost-matriculantsandgraduatesaccess toaccreditedworkplacetrainingthroughtoexecutivedevelopmentprogrammesforhigh-potentialmanagers. TheBANKSETA is also the first SETA to have introduced funding fordoctoralandpost-doctoralstudies.

ThefollowingdiagramillustratestheBANKSETA’slayeredapproachtoskillsdevelopmentinthesector.

HowBANKSETALearnershipsanddevelopmentprogrammeofferingsmatchoccupationallevels:

Executivelevel

SeniorManagementlevel

MiddleManagement&Professionals

JuniorManagement&AssociateProfessionallevels

Administrativelevels

Entrylevel

BridgingtheGap(programmeforthedisabled)

IEDP:Europe&UK

Masters&ExecutiveShortCourses,PhDandPost-doctoralfunding

MiddleManagementProgramme

JuniorManagementProgramme

Kuyasa,ThusananiPartnership&LearnershipsforEmployedPeople

LetsemaandCareerAwarenessWorkshops

CareerAwarenessGrade10-12

24 | DELIVERY

a.ServiceLevelAgreement(SLA)

Inthe2009/10financialyear,theBANKSETAunderwentachangeinitsreportinglines.Morespecifically,inNovember2009,theDepartmentofLabourhandedresponsibilityfortheSETAsover to thenewlyestablishedDepartmentofHigher Education and Training. This was essentially anadministrativechangeanddidnotaffecttheServiceLevelAgreement that BANKSETA had in place for the yearunderreview.

Building on its track record in previous years, theBANKSETA exceeded the majority of the targets setin the SLA for the period ending 31March 2010. Theorganisationscoredmore than120%againstalmostallof the targets set.A comprehensive comparisonof theBANKSETA’s performance against SLA targets for theyear can be found in Annexure D: BANKSETA NSDS2009/10Achievements(p86).

b.DiscretionaryProjects

AdultBasicEducationandTrainingDuringtheyear,243employeesinthesectorregisteredforABETlevelsonetofourand366employeessuccessfullycompletedoneormoreoftheselevels.Foreachlevel,thenumberofemployeeswho registeredorcompleted thetrainingwassignificantlyabovethetargetset.Inaddition,for the first time, graduation ceremonies were held forlearnerswhosuccessfullycompletedtheirtraining.

CareerguidanceIn partnership with the KwaZulu-Natal Department ofEducation, the BANKSETA held a series of workshopsand seminars for Life Orientation educators. In all, theworkshops reached 1 043 schools in seven districts inthe province. Through another partnership, this timewith Junior Achievement South Africa, the BANKSETApresentedcareerguidanceseminars forschool learnersin Ficksburg in the Free State, Belfast inMpumalanga,Tzaneen and Thohoyandou in Limpopo Province andEastLondon intheEasternCape.TheBANKSETAalsoparticipated in career guidance sessions inManenbergandKhayelitshaintheWesternCape.

HIV/AIDSsupportRecognising that HIV/AIDS has the potential to erodesome of the gainsmade in the sector, theBANKSETA

Council approved R1 000 000 in funding for HIV/AIDSawarenessprojectsin2009/10.Theaimistohelpretainexistingskillsandraiseawarenesssoastopreventnewinfectionswhileprovidingadvicetopeoplealready livingwithHIV/AIDS.TencompaniesappliedforthegrantsandreportedtotheBANKSETAontheimpactofthefunding.

MobiletrainingsolutionforSMEsThis project was initiated to reach the employees ofmicrofinanceSMEsinruralandoutlayingareasofSouthAfrica,offering training in theNationalCreditAct,creditmanagementandbasiccomputerliteracy.Thefacilityusedisabuswith18 touch-screencomputers,abigscreentelevisionsetandofficeequipmentsuchasphotocopiers.AfterasuccessfullaunchinMiddelburg,MpumalangainFebruary2010,theBANKSETAbusproceededtoaseriesof other Mpumalanga destinations, including Belfast,Ermelo,Mokopane,TzaneenandThohoyandou.Thepilotreportindicatedthatthemodelworkswellandplansareunderwaytorollthisouttootherprovinces.

BuildingaBetterBusinessThe 2009/10 project focused on the provision oftailormade consulting services to participating SMEs,with the aim of improving their organisational capacitytomeet their business objectives. In all, 32 companieswerereached;theserviceproviderwasalsorequiredtoenable one black-owned company to deliver the sameconsultingservice.

SMESkillsDevelopmentToolkitThistoolkitwasdevelopedtosupportskillsdevelopmentandbusinessperformanceimprovementofmicrofinanceSMEs,especiallythoseinoutlyingareas.Thetoolkitusesablended learningapproachbyallowing for theuseofmultimedia platforms. These include text articles andcasestudies,videosandaudiopresentationsinIsi-Zulu,Sepedi andAfrikaans. It also has a distance educationgatewaytoguidebeneficiariesshouldtheyopt tostudyfurther towards formal qualifications. The toolkit will bedistributedinthecomingfinancialyear.

TrainingVoucherProjectDesigned to encourage SMEs in the Banking andMicrofinancesectortoregisterwiththeBANKSETA,theTrainingVoucherProjecttargetslevypayingandnon-levypaying SMEs. The following table shows applicationsapproved, vouchers issued and vouchers redeemed intheyearending31March2010.


Grow

ingForward|6 D

elivery

BeneficiariesoftheTrainingVoucherProjectin2009/10

Numbers Amount

1 SMEapplicationsapproved 207 R2417104

2 Vouchersissued 952 R2417104

3 Totalvalueofvouchersredeemed 858 R2179510

LETSEMAlearnershipDuring2009/10,theBANKSETAcelebratedthegraduationof the sixth intake of post-matriculant learners on theLETSEMAprogramme.LETSEMA,meaning“cooperativeventure”inSesotho,wasinitiatedin2005aspartofthebanking and microfinance sector’s commitment to theFinancial Services Charter (FSC) and in support of theGrowthandDevelopmentSummitagreements.Theaimoftheprojectwastoplace5000unemployedlearnersonalearnershipbytheendofMarch2010.TheBANKSETAhas significantly exceeded this target. In fact, countingthe seventh intake in February 2010, approximately6 100 learners have been cumulatively recruited andplacednationally.

KUYASAlearnershipSincethelaunchoftheKUYASAprogramme,meaning“thebeginningofanewday”inXhosa,unemployedgraduateshave been in high demandwithin the broader BankingandMicrofinance sector.Oneof the innovations of thisparticular offering is that a new scarce skill is targetedeveryyearandthusfar,graduateshavebeenexposedtoManagementDevelopmentandCreditandRisk.Todate,KUYASA’s intakehasbeen in excessof 1000 learnersand theaim is togroomthepipeline toaddressscarceandcriticalskillswithinthesector.

Whilst completing a learnership does not guaranteepermanent employment, the track record for absorbingLETSEMAandKUYASAlearnersintothesectorhasbeenapproximately75%to85%.Thisisastatisticofwhichthesectorcanbeproud,particularlyhostemployers,whoseinvolvementiscrucialtothesuccessofthelearnerships.

Employer-driveninterventionsDespite the recession, which significantly affectedthe income of many employers within the bankingsector, employer-driven training continued and wasgiven additional impetus from the BANKSETA throughlearnership grant funding windows. There are three

categories of offerings, namely niche unemployedlearnershipsgrant funding,nicheemployed learnershipsfunding and scarce skills funding. For the two nichecategories especially, the emphasis is on encouragingemployers to trainpeoplewithdisabilities inskillsareaswhichmatchthecompanies’corefunctions.

In 2009/10, employers responded positively across allthreecategories,asthefollowingstatisticsshow:

• Niche employed learnerships: 20 applications werereceived and a total of R10 560 000was paid outto employers to implement learnerships tobuild thetechnical skills of employed staff. Approximately400 beneficiaries were supported through thisintervention.

• Niche unemployed learnerships: 10 applicationswerereceivedandR12460000waspaidoutsothatemployerscould implement learnershipstobuildthetechnicalskillsofunemployedpeople.Approximately250beneficiariesweresupported.

• Scarce skills funding: 13 applicationswere receivedand R6 101 252 was paid out to employers toimplement learnerships that address critical andscarce skills within the sector. Approximately 400beneficiariesweresupported.

To optimise the impact of these offerings, the LearningProgrammesdepartmentpaidqualityassurancesitevisitstoengageemployers,trainingprovidersandbeneficiarieson additional support required. In this way, employersbenefited from positive feedback on how they couldenhance their programmes while the BANKSETA wasabletostrengthenitsstakeholderinteraction.

Work-basedexperienceprogrammesThe BANKSETA introduced another grant to test thetypes of innovative interventions in place to addressunemployment. Employers were invited to access awork-based experience grant with the aim of placing

26 | DELIVERY

unemployed graduates onto a programme. This granttype is aimed at giving these graduates hands-onexposureinthefieldinwhichtheywanttowork,ensuringthe best match between student skills and personalityandthecompanyculture, thusultimately facilitating full-timeplacements.

Thisprocesshasgiven theLearningProgrammes teamtremendous insight on how to replicate and upscalean intervention that will create more synergy betweenproviders of formal curricula and banking industryrequirements.

DiscretionaryGrantFundingWindowprojectIntroduced in2009/10, thisproject allowedBANKSETAregisteredemployerstoapplyfordiscretionarygrantsfortheir employer-initiated development projects. In all, 55applications were received and 25 applications to thevalueofR16284375.00wereapprovedforemployersinfiveregions.Theprojectreachedover3500beneficiariesinallnineprovinces.

InternationalExecutiveDevelopmentProgramme(IEDP)EuropeIn2009/10,theIEDPEuropereplacedtheIEDPCanadathat ran in theprevious year. TheBANKSETAdeliveredthenewprogrammeinpartnershipwithalocalbusinessschoolandaninternationalone.TheSouthAfricanpartnerwas theGordon InstituteofBusinessScience (GIBS)oftheUniversityofPretoria,while the internationalpartnerwas the Rotterdam School of Management (RSM) ofErasmusUniversityinRotterdam.The20delegateswhoattendedthe2009/10programmeexploredthefollowingaction learning topics: Recommendations for AlternateRetail BankingPricingPrinciples in SouthAfrica;CreditRating Agencies; A lending product targeting low costhousing consumers and, Improving the current savingsculturewithinthetargetpopulationofLSMGroups1-5inSouthAfrica.

InternationalExecutiveDevelopmentProgramme(IEDP)UnitedKingdom(UK)The IEDP UK continued unchanged in 2009/10. Aswith the Europe programme, the BANKSETA deliveredthis programme in partnership with a local and aninternationalbusinessschool.The localpartnerwastheUniversityoftheWitwatersrandBusinessSchool(WBS),withCassBusinessSchoolCityUniversity inLondonas

theUKpartner.The20delegateswhoparticipatedwereexposed to business practice at Rothschild, GoldmanSachs, Standard Chartered, Bank of England and theInternational Financial Services (IFSL) London. Thesedelegatesexploredthefollowingtopics:aSWOTanalysisofsecuritisationinSouthAfrica;LessonsfromtheSouthAfrican experience in escaping the worst of the globalbankingcrisis;Non-traditionalbankingmodelsand,Majorthreatsfacingcommercialbanksoverthenextfiveyears.

JuniorandMiddleManagement(JaMM)PhasesIItoIVThisprogrammeconcludedinDecember2009with515delegateshavinggraduatedfromtheInstituteofBankers(IoB) programme. To take the programme to the nextlevel,meaningtoafullqualification,atenderprocesswasinitiatedtoappointaprovider.ThenewprogrammewillbeimplementedbyMilparkBusinessSchoolin2010.

Master’sandExecutiveshortcoursefundingTherehasbeenanincreaseindemandinthesectorforMaster’sfundingasaresultoftheBANKSETA’ssuccessfuleffortstomarketit.Thisproject,whichfundscoursesatHigher Education Institutions (HEI), increased in scopeduring2009/10.Some31employersappliedforfundingand23participated,withbeneficiariesineightprovinces.A total of R5 859 938.00was allocated for the periodunderreview.

Doctoralandpost-doctoralfundingIn a first for the SETA environment, the BANKSETAintroduced funding for doctoral and post-doctoralstudies.Thestartingpointwastheconstitutionofapanelto advise BANKSETA on the approval and distributionof funding. During 2009/10, 16 PhD proposals werereceivedfrom11universitiesinsixprovinces.BANKSETAhas12MemorandaofAgreement(MoA)withuniversities,including two historically disadvantaged universities,namely the University of Venda and the University ofthe Western Cape. Thus far R422 832.00 has beencommittedthroughMemorandaofAgreement.

NationalPaymentsSystemTheBANKSETAinitiatedthisprojectincollaborationwiththe Payments Association of South Africa (PASA). TheNationalPaymentsSystemisthebackboneofthebankingsector and so this is a critical project for retaining anddisseminatingknowledgeinthesector.Theprojectentailsfundingthedevelopmentofafoundationalcoursethatwill


Grow

ingForward|6 D

elivery

explorethefundamentalsoftheSouthAfricanpaymentssystem, the legislative frameworkand roleplayers.Thisprojectwillconcludeinthenextfinancialyear.

FAISrevisionportalThe BANKSETA initiated this project with the purposeofmakingarevisionplatformavailabletotheindustry inpreparation for the First Level Regulatory Examination.This portal gives learners 24-hour access to learningcontent and allows them to study and prepare for theexaminationattheirowntimeandattheirownpace.

The learning is delivered via the Internet by means ofa link from either the employer’s intranet or from theBANKSETA’s website. The learning is designed toaddresseachofthequalifyingcriteriaonwhichtheFirstLevel Regulatory Examinations are based, and shouldthereforegivethelearnersufficientandrelevantcontent,aswellasassessmentfeedbackandscenariopractice,inpreparationfortheexamination.

QualityCouncilforTradesandOccupations(QCTO)TheQCTOframeworkwillplayanincreasinglyimportantpart in the skills development in the banking andmicrofinance sector. In support of this, the BANKSETAETQAfundedandmanagedtwoseparateareasofQCTOcurriculaandqualificationsduring2009/10.Afterintensiveinvolvement by the inter-bank community, the QCTOBankWorkercurriculumandqualificationwascompletedandsubmitted to theQCTOfor registration.TheQCTOCredit/Loan Officer curriculum and qualification for themicrofinance industry was completed to the scopingstagewiththesector.

Providersoftenstruggle toadapt theirprocessesto therequirementsofaccreditationandaspartofETQA’snewdevelopmentalfunction,37providershavebeenassistedwithstakeholdereducationvisitstoassisttheirprogresstoward full accreditation. Experienced assessors andmoderatorsplayavitalpartinthesectorachievementofqualitystandards,anddespitethemorerigorouscriteriaunderthenewoperatingmodel,41newassessorsand47newmoderatorshavebeenregisteredbyETQA.

Annual

Financial

Statements

StatementofResponsibility 30

Auditor-General’sReport 31

AuditCommitteeReport 33

AccountingAuthority'sReport 35

StatementofFinancialPerformance 38

StatementofFinancialPosition 39

StatementofChangesinNetAssets 40

CashFlowStatement 41

StatementofComparisonofBudgetandActualAmounts 42

AccountingPoliciestotheAnnualFinancialStatements 43

NotestotheAnnualFinancialStatements 50

page 28 - 78


Grow

ingForward|7 A

nnual Financial Statem

ents

AnnualFinancialStatements Eachyear,onorbefore31May,theBANKSETAprovidestheAuditor-Generalwithannual financial statements as legislatedby thePublic FinanceManagementAct(PMFA). These annual financial statements are prepared in accordance with theeffectiveStandardsofGenerallyRecognisedAccountingPractice(GRAP)includingany interpretations,guidelinesanddirectives issuedbytheAccountingStandardsBoard.TheannualfinancialstatementsareapprovedbytheAccountingAuthority.

The annual financial statements are prepared in a format prescribed by theDepartment to achieve consistency inpresentation,asfaraspossible,withotherSETAs.Theannualfinancialstatementsaresetoutonpages28to78ofthisreport.

30 |ANNUALFINANCIAL STATEMENTS

StatementofResponsibility

BANKSETAAnnualReport2009/10

TheAnnualFinancialStatementsfortheyearended31March2010,havebeenapprovedbytheAccountingAuthorityon27July2010intermsofsection51(1)(f)ofthePublicFinanceManagementAct(PFMA),No.1of1999asamended,andaresignedontheirbehalfby:

MaxMakhubalo EugeneEbersohnChiefExecutiveOfficer Chairperson


Grow

ingForward|7 A


ents

Auditor-General’sReport

REPORTOFTHEAUDITOR-GENERALTOPARLIAMENTONTHEFINANCIALSTATEMENTSANDPREDETERMINEDOBJECTIVESOFTHEBANKINGSECTOREDUCATIONANDTRAININGAUTHORITYFORTHEYEARENDED31MARCH2010

REPORTONTHEFINANCIALSTATEMENTS

Introduction

I have audited the accompanying financial statementsof theBankingSectorEducation andTrainingAuthority(BANKSETA),whichcomprise thestatementoffinancialposition as at 31 March 2010, and the statement offinancialperformance,statementofchangesinnetassets,statementofcomparisonofbudgetandactualamounts,and cash flow statement for the year then ended, anda summary of significant accounting policies, otherexplanatory information and the accounting authority’sreport.

Accountingauthority’sresponsibilityforthefinancialstatements

Theaccountingauthorityisresponsibleforthepreparationand fair presentation of these financial statements inaccordance with South African Standards of GenerallyRecognised Accounting Practice (SA Standards ofGRAP)andinthemannerrequiredbythePublicFinanceManagement Act of South Africa. This responsibilityincludes: designing, implementing and maintaininginternal control relevant to the preparation and fairpresentation of financial statements that are free frommaterial misstatement, whether due to fraud or error;selecting and applying appropriate accounting policies;andmakingaccountingestimatesthatarereasonableinthecircumstances.

Auditor’sresponsibility

Asrequiredbysection188of theConstitutionofSouthAfricaandsection4ofthePublicAuditActofSouthAfricaandsection14(6)(a)of theSkillsDevelopmentAct,1998(ActNo.97of1998),myresponsibility is toexpressanopiniononthesefinancialstatementsbasedonmyaudit.

I conducted my audit in accordance with InternationalStandardsonAuditingandGeneral Notice 1570 of 2009

issued in Government Gazette 32758 of 27 November

2009.ThosestandardsrequirethatIcomplywithethicalrequirements and plan and perform the audit to obtainreasonable assurance about whether the financialstatementsarefreefrommaterialmisstatement.

Anaudit involvesperformingprocedurestoobtainauditevidence about the amounts and disclosures in thefinancial statements. The procedures selected dependon the auditor’s judgement, including the assessmentof the risks of material misstatement of the financialstatements,whetherduetofraudorerror.Inmakingthoserisk assessments, the auditor considers internal controlrelevant to theentity’spreparationand fair presentationof the financial statements in order to design auditprocedures that are appropriate in the circumstances,butnotforthepurposeofexpressinganopinionontheeffectivenessoftheentity’sinternalcontrol.Anauditalsoincludes evaluating the appropriateness of accountingpolicies used and the reasonableness of accountingestimatesmadebymanagement, aswell as evaluatingtheoverallpresentationofthefinancialstatements.


IbelievethattheauditevidenceIhaveobtainedissufficientandappropriatetoprovideabasisformyauditopinion.

Opinion

Inmyopinion,thefinancialstatementspresentfairly,inallmaterialrespects,thefinancialpositionoftheBANKSETAasat31March2010,anditsfinancialperformance,anditscashflowsfortheyearthenendedanditsstatementofcomparisonofbudgetandactualamountsinaccordancewith South African Standards of Generally RecognisedAccountingPractice(SAStandardsofGRAP)andinthemannerrequiredbythePublicFinanceManagementActofSouthAfrica.

Additionalmatter

Idrawattention to thematterbelow.Myopinion is notmodifiedinrespectofthismatter:

Re-licensing

As indicated in the accounting authority’s report theSETA’s were established for a five-year period until31March2010.However, this licencewas renewedbythe Department of Higher Education and Training until31March2011.Afinalproclamationwith regard to thenewSETAlandscapeisexpectedinOctober2010.

REPORTONOTHERLEGALANDREGULATORYREQUIREMENTS

In termsof thePAAofSouthAfricaandGeneralnotice1570of2009,issuedinGovernmentGazetteNo.32758of27November2009Iincludebelowmyfindingsonthereportonpredeterminedobjectives,compliancewiththePFMAandfinancialmanagement(internalcontrol).

Findings

PredeterminedobjectivesNomatterstoreport

CompliancewithlawsandregulationsNomatterstoreport

INTERNALCONTROL

Iconsidered internal control relevant tomyaudit of thefinancial statements and the report on predeterminedobjectivesandcompliancewiththePFMA,butnotforthepurposesofexpressinganopinionon theeffectivenessofinternalcontrol.Themattersreportedarelimitedtothedeficienciesidentifiedduringtheaudit.

Nomatterstoreport

Investigationsinprogress

BANKSETA has instituted a special investigation ofdiscretionary grant payment made during the 2009-10financial year toanunderperformingserviceprovider todetermine potential fruitless and wasteful expenditure.Theinvestigationwasstillongoingatthereportingdate.

Pretoria31July2010


Grow

ingForward|7 A


ents

AuditCommitteeReport

ReportoftheAuditCommitteerequiredbyTreasuryRegulations27.1.7and27.1.10(b)and(c)issuedintermsofthePublicFinanceManagementAct,No.1of1999,asamendedbyAct29of1999

TheBANKSETAherebypresentsthereportforthefinancialyearended31March2010

a.Introduction

TheBANKSETAanditsCouncilarecommittedtothehigheststandardsofsoundcorporategovernanceprinciplesandpractices inSouthAfrica.This isavouchedby itsnotablyethicalbehaviourandongoingfinetuningoftheprevailingcorporategovernanceprinciplesandpractices.TheAuditCommittee’scompositionandactivitiesarefullycompliantwiththerequirementsofthePublicFinanceManagementActanditendeavouredtoexceedtherequirementsoftheAct.

b.AuditCommitteemembersandattendance

TheAuditCommitteeconsistsofthememberslistedhereunderandmeets4timesperannumasperitsapprovedtermsofreference.Duringthecurrentfinancialyear4meetingswereheld.

Name of member Number of meetings attended

HennieFerreira–MFSA(Chairperson)(Resigned20Jan2010) 2

MarlevanderWalt–Investec(Appointed13May2009) 3

NitashaNaicker–AfricanBank(Chairperson)(Appointed04November2009) 2

LeelaRamdhani–Nedbank(Resigned02September2009) 2

ShaheemaSuliman–ABSA(Appointed19May2010)

Furthermore,atleastonerepresentativefromtheAuditor-General’soffice,theoutsourcedinternalauditserviceprovider,the financeofficeandmanagementarepresent at allAuditCommitteemeetings, regardlessofwhetheror not theagendaitemsdirectlyconcerntheauditoftheSETA’sFinancialStatements.

c.AuditCommitteeresponsibility

TheAuditCommitteereportsthatithasadoptedappropriateformaltermsofreferenceasitsAuditCommitteeCharter,hasregulateditsaffairsincompliancewiththisCharterandhasdischargedallitsresponsibilitiesascontainedtherein.

d.Theeffectivenessofinternalcontrol

Thesystemofcontrolsisdesignedtoprovidecosteffectiveassurancethatassetsaresafeguardedandthatliabilitiesandworkingcapitalareefficientlymanaged.InlinewiththePFMAandtheKingIIIReportoncorporategovernance


requirements,InternalAuditprovidestheAuditCommitteeandmanagementwithassurancethattheinternalcontrolsareappropriateandeffective.Thisisachievedbymeansoftheriskmanagementprocess,aswellastheidentificationofcorrectiveactionsandsuggestedenhancementstothecontrolsandprocesses. Fromthevariousreportsof theInternalAuditors,theAuditReportontheAnnualFinancialStatements,themattersofemphasisandthemanagementletteroftheAuditor-General,itwasnotedthatnosignificantormaterialnon-compliancewithprescribedpoliciesandprocedureshavebeenreported.Accordingly,wecanreportthatthesystemsofinternalcontrolfortheperiodunderreviewwereeffectiveandefficient. e.Evaluationofannualfinancialstatements

TheAuditCommitteehas

• Reviewedanddiscussedtheauditedannualfinancialstatementstobeincludedintheannualreport;• ReviewedtheAuditor-General’smanagementletterandmanagement’sresponsethereto;• Reviewedchangesinaccountingpoliciesandpractices;and

TheAuditCommitteeconcursandacceptstheAuditor-General’sconclusionsontheAnnualFinancialStatementsandisoftheopinionthattheAuditedAnnualFinancialStatementsbeacceptedandreadtogetherwiththereportoftheAuditor-General.

Nitasha NaickerNitashaNaickerChairperson


Grow

ingForward|7 A


ents

AccountingAuthority’sReport

ReportbytheAccountingOfficertotheExecutiveAuthorityandParliamentoftheRepublicofSouthAfrica.

a.Generalreviewofthestateofaffairs

The Banking Sector Education and Training Authority(BANKSETA) is aSchedule3Apublic entity establishedby the Minister of Labour on 20 March 2000, andsubsequently re-established to 31 March 2011. TheobjectiveoftheBANKSETAistodevelopskillsinandforthebroaderbankingandmicrofinanceindustriesinSouthAfrica.The followingsectors fallwithin thescopeof theBANKSETA.

• Centralbanking• Discounthouses,commercialandotherbanking• Buildingsocieties• Financialmediation• Leasefinancing• Securitiesdealings• Activitiesancillarytofinancialmediation

ThemissionoftheBANKSETAis:“Tosupporttransformationandpeopledevelopmentandthroughpartnerships,toenablestakeholderstoadvancethenational andglobalpositionof thebroaderbankingandmicrofinanceindustry.”

TheBANKSETAisthereforeresponsiblefor:

• Theidentificationofpriorityskillsinthesector• The distribution of mandatory grants to qualifying

registeredcompanies• Thedistributionofdiscretionarygrantsthatwillbenefit

the sector at large as well as individuals within thesector

• The implementation of quality assurance processesthat will enhance and ensure quality provision oftraining.

• SupportingtheimplementationofapplicablenationalstrategicobjectivesasidentifiedintheNationalSkillsDevelopmentStrategy.

BANKSETA's 80% levy income decreased by 0.4%from R329 331 000 for the 2008/09 financial year toR328 143 000 for the 2009/10 financial year. Theadministrative surplus is R3 593 000 (2008/09 –R12769000)andtheactualadministrationlevyincomefor the current financial year isR40022000 (2008/09:R41984000).

As in all the previous financial periods, there wasincreased spending on discretionary projects (2009/10:R155000000,2008/09:R98900000).Themandatorygrant payout percentage for the financial year was at96.28%(2008/09:97.79%).

Allprojectrelatedcostsaredirectlyallocatedtoprojectsand are not allocated to operational expenditure.BANKSETAhasallocatedapproximately100%(2008/09:96%)ofitsavailablesurplusfundsasat31March2010.Theremainderoftheavailablesurpluseswillbeallocatedduringthe2010/11financialyear.

Refertotheannualfinancialstatementsformoredetail.


b.PaymentsandremunerationintheBANKSETA

MembersoftheAccountingAuthorityNote:Thepaymentsindicatedbelowarepaidtothenominatingorganisationsandnottotheindividualrepresentatives.AllpaymentsareinrespectofCouncilmeetingorCommitteemeetingattendancefees.

Name Constituency Amount

EEbersohn SASBO R5200

SNgidi SBSA R5400

HFerreira MFSA R4800

SMthembu/GFipaza FirstRand R5600

RRamabulana ABSA R4000

JJeftha SARB R3200

SZinn Nedbank R2400

IRamputa SASBO R4800

VHattingh SASBO R7200

JKokela SASBO R1600

BVenter SASBO R6400

EZeeman IBSA R5600

NNaicker AfricanBank R3200

TheChiefExecutiveOfficerDuetothenatureoftheBANKSETA,theChiefExecutiveOfficerisalsoresponsibleforallfinancialmatters.

Annual and other income Amount (Pre-tax) Notes

Pension R113086.57

Medical R21303.00

Baseremuneration R1039042.87 Includedaspartofpackage(carandsubsistenceallowances)

Totalguaranteedcost-to-companypackage

R1173432.44 Benchmarkedannually

Non-guaranteed(atrisk)remuneration

R702139.50 TheBANKSETAincentiveschemeisbenchmarkedandnegotiatedannually.Theincentiveisdependentonpersonalperformance,SETAcorefunction(department)performance,theresultsofanexternalevaluationofSETAperformanceandtheretentionstrategyofBANKSETA.

Totalguaranteedandnon-guaranteed(atrisk)remuneration

R1875571.94


Grow

ingForward|7 A


ents

c.Businessaddress

PhysicaladdressBANKSETAThornhillOfficeParkBlockNo.1594BekkerRoadMIDRAND1685

PostaladdressP.O.Box11678VORNAVALLEY1686

CallCentre 0861020002Tel 0118059661Fax 0118058348Website www.bankseta.org.za

d.Eventsafterthebalancesheetdate

Therewerenoeventssubsequent to thebalancesheetdate and up to the date of approval of these financialstatementsthatrequireanyelaboration.

e.Corporategovernance

IntermsoftheSkillsDevelopmentAct,totaladministrationcosts may not exceed 10% of total levies received. Itgivesmegreatpleasuretoreportthattotaladministrationexpenditure in the BANKSETA is again running belowthe allowed10%.Our aim has always been to run theBANKSETAona leanandefficientbasisand IattributetheSETA’ssuccessinthisregardtothequalityofpeopleinitsemploy,thequalityofitshumanresourcespracticesanditssoundbusinessmodel.

The BANKSETA has an independent Audit Committee,which is satisfied that the necessary checks andbalancesareinplace.TheAuditCommittee’sfunctionsareinlinewiththeAuditCommitteeCharterandcomplywith principles of good corporate governance and therequirements of the Public Finance Management Act.

The functions of the Audit Committee include a reviewandanupdateoftheriskanalysis,bymanagementandindependentlyfrominternalaudit.AlsorefertotheAuditCommittee’sreportfordetail.

A materiality framework is in place and no instanceoccurredduringtheyearthatrequiredanimplementationofthepolicydevelopedinthematerialityframework.

f. Re-licensingofBANKSETA

SETAswerere-establishedforafive-yearperioduntil31March2010.TheDepartmenthassubsequentlyrenewedthelicenceoftheBANKSETAforonemoreyearuntil31March2011.

g.SoccerWorldCupclothingandtickets

The Standing Committee on Public Accounts (SCOPA)has requested that the SETA disclose all expenditurerelatingtotheSoccerWorldCup.BANKSETApurchased34 Soccer World Cup jerseys to the total value ofR22440duringOctober2009aspartoftheannualstaffteambuilding.ThejerseyswereBANKSETAbranded.

BANKSETAdidnotincuranyfurtherexpenditurerelatingtotheSoccerWorldCupclothingandticketssubsequenttotheyearend.

EugeneEbersohnChairperson


STATEMENTOFFINANCIALPERFORMANCEFORTHEYEARENDED31MARCH2010

2009/10 2008/09Note R’000 R’000

RevenueSkillsDevelopmentLevy:incomefromnon-exchangetransactions 2 328 143 329331SkillsDevelopmentLevy:penaltiesandinterestfromnon-exchangetransactions

1 016 937

Donationsforspecialprojects 14 12 044 23884Investmentincome 3 11 051 19828Otherincome 4 8 -

TOTAL REVENUE 352 262 373980

ExpenditureEmployergrantandprojectexpenditure 5 (355 495) (298592)Administrationexpenditure 6 (36 437) (28215)Specialprojectexpenditure 14 (12 044) (23884)

TOTAL EXPENDITURE (403 976) (350691)

NET (DEFICITS)/ SURPLUS FOR THE YEAR 1 (51 714) 23289


Grow

ingForward|7 A


ents

STATEMENTOFFINANCIALPOSITIONASAT31MARCH2010

2009/10 2008/09Note R’000 R’000

ASSETS

Non-current assetsProperty,plantandequipment 7 812 1089Intangibleassets 8 47 22

Current assetsAccountsreceivablefromnon-exchangetransactions 9 887 286Otheraccountsreceivable 10 328 491Cashandcashequivalents 11 125 792 150535Donorfundingreceivable 14.2 - 302Consumables 87 39

Total assets 127 953 152764

LIABILITIESCurrent liabilities

Tradeandotherpayablesfromexchangetransactions 12 12 250 11576Tradeandotherpayablesfromnon-exchangetransactions 13 26 413 21808Donorfundingreceivedinadvance 14 23 902 2278

Total liabilities 62 565 35662

NET ASSETS 65 388 117102

NET ASSETS AND LIABILITIES

Funds and reservesAdministrationreserve 859 1 110 Employergrantreserve 202 210 Discretionaryreserve 64 327 115782

TOTAL FUNDS AND RESERVES 65 388 117102


STATE

MENTOFCHANGESIN

NETASSETS

FORTHEYEARENDED31MARCH2010

Ad

min

istr

atio

n re

serv

eE

mp

loye

r g

rant

re

serv

eD

iscr

etio

nary

re-

serv

eU

nap

pro

pri

ated

su

rplu

sTo

tal

No

tes

R’0

00R

’000

R’0

00R

’000

R’0

00

Bal

ance

at

31 M

arch

200

8 8

59

55

92

891

-

93

805

EffectofchangeinAccountingPolicy

218

--

-8

Res

tate

d b

alan

ce 8

67

55

92

891

- 9

3 81

3 NetsurplusperStatemento

fFinancialPerform

ance

-

-

-

23289

23289

Allocationofunapp

ropriatedsurplus

11276

96143

4377

(23289)

-

ExcessreservestransferredtoDiscretionaryreserve

(1252

6)

(5988

)18514

-

-

Bal

ance

at

31 M

arch

200

9 1

110

2

10

115

782

-

1

17 1

02

NetsurplusperStatemento

fFinancialPerform

ance

--

-(51714)

(51714)

Allocationofunapp

ropriatedsurplus

13593

5088

(60395)

51714

-

ExcessreservestransferredtoDiscretionaryreserve

(3844

)(5096

)8940

-

-

Bal

ance

at

31 M

arch

201

0 8

59

202

6

4 32

7 -

6

5 38

8

Anam

ountofR

859000(2008/09:R1110000)isretainedintheadm

inistrationreserveequaltothecarryingvalueofP

roperty,plantandequipment,andintangible

assets.

Anam

ountofR202000(2008/09:R210000)isdisclosedintheemployergrantreservefornew

lyregisteredmem

bercom

panies,participatingafterthe

legislativecut-offdateandnew

schem

eyearleviesreceivedfortheperiodending31March.Refertonote16.2and16.3fordisclosureofthiscontingentliability.


Grow

ingForward|7 A


ents

CASHFLOWSTATEMENTFORTHEYEARENDED31MARCH2010

2009/10 2008/09Note R’000 R’000

CASH FLOWS FROM OPERATING ACTIVITIES

Operating activitiesCashreceiptsfromstakeholders 329 214 335714

Levies,interestandpenaltiesreceived 329 471 320117Othercashreceiptsfromstakeholders ( 257) 15597

Cashpaidtostakeholders,suppliersandemployees (398 296) (379112)Grantsandprojectpayments (350 294) (311740)Specialprojects (12 044) (23962)Compensationofemployees (16 045) (11075)Paymentstosuppliersandother (19 912) (32335)

Cashutilisedinoperations 15 (69 082) (43398)Interestreceived 3 10 865 19624Grants,transfersandfundsreceived 14 33 668 23640

Net cash outflow from operating activities (24 549) (134)

CASH FLOW FROM INVESTING ACTIVITIESPurchaseofproperty,plantandequipment 7 ( 194) (594)

Net cash outflow from investing activities ( 194) (594)

Net decrease in cash and cash equivalents (24 743) (728)Cash and cash equivalents at beginning of year 11 150 535 151263Cash and cash equivalents at end of year 11 125 792 150535


STATE

MENTOFCOMPA

RISONOFBUDGETAND

ACTU

ALAMOUNTS

FO

RTHEYEARENDED31MARCH2010

No

tes

Ap

pro

ved

B

udg

etFi

nal B

udg

etA

ctua

l

Fav

our

able

/ (U

nfav

our

able

) va

rian

ce 2

009/

10

200

9/10

20

09/1

020

09/1

0R

’000

R’0

00R

’000

R’0

00R

EV

EN

UE

SkillsDevelop

mentLevytransferfrom

non-exchangetransactions

26.1

306

240

306240

328143

21903

SkillsDevelop

mentLevypenaltiesandinterestfrom

non-exchangetransactions

26.2

-

-

1 0

16

1 0

16

InvestmentIncom

e26

.3 1

1 00

0 1

1 00

0 11051

51

Otherincome

-

-

8

8

Tota

l Rev

enue

317

240

3

17 2

40

340

,218

2

2 97

8

EX

PE

ND

ITU

RE

Employergrantandprojectexpenditure

26.4

(278

960

)(278960)

(355495)

(76535)

Adm

inistrationexpenditure

26.5

(3793

0)(37930)

(36437)

1493

Tota

l Exp

end

itur

e (3

16 8

90)

(316

890

) (3

91 9

32)

(75

042)

NE

T S

UR

PLU

S/(

LOS

S) F

OR

TH

E Y

EA

R 3

50

350

(5

1 71

4) (5

2 06

4)


Grow

ingForward|7 A


ents

ACCOUNTINGPOLICIESTOTHEANNUALFINANCIALSTATEMENTSFORTHEYEARENDED31MARCH2010

1. Basisofpreparation

Theprincipalaccountingpoliciesadoptedinthepreparationofthesefinancialstatementsaresetoutbelowandare,inallmaterialrespects,consistentwiththoseofthepreviousyear,exceptasotherwiseindicated.

ThefinancialstatementshavebeenpreparedinaccordancewiththeeffectiveStandardsofGenerallyRecognisedAccountingPractices(GRAP)includinganyinterpretations,guidelinesanddirectivesissuedbytheAccountingStandardsBoard.

Theannual financial statementshavebeenpreparedon thehistorical costbasis, exceptwhereadjusted forpresent/fairvaluesasrequiredbytherespectiveaccountingstandards.

2. Currency

ThesefinancialstatementsarepresentedinSouthAfricanRandssincethatisthecurrencyinwhichthemajorityoftheentitytransactionsaredenominated.

3. Revenuerecognition

3.1 LevyincomeTheaccountingpolicyfortherecognitionandmeasurementofskillsdevelopmentlevyincomehasbeenamendedonthebasisofarevisedinterpretationoftheSkillsDevelopmentAct,ActNo97of1998asamendedandtheSkillsDevelopmentLeviesAct,ActNo9of1999,asamended.

SkillsDevelopmentLevy(SDL)transfersarerecognisedwhen it isprobablethat futureeconomicbenefitswillflowtotheSETAandthesebenefitscanbemeasuredreliably.ThisoccurswhentheDepartmenteithermakesanallocationorpayment,whichevercomesfirst,totheSETA,asrequiredbySection8oftheSkillsDevelopmentLeviesAct,1999(ActNo.9of1999),asamended.

Intermsofsection3(1)and3(4)oftheSkillsDevelopmentLeviesAct,1999(ActNo.9of1999)asamended,registeredmembercompaniesoftheSETApayaskillsdevelopmentlevyof1%ofthetotalpayrollcosttotheSouthAfricanRevenueServices(SARS),whocollectstheleviesonbehalfoftheDepartment.CompanieswithanannualpayrollcostlessthanR500000areexemptedinaccordancewithsection4(b)oftheLeviesActasamended,effective1August2005.

80%ofskillsdevelopmentleviesarepaidovertotheSETA(netofthe20%contributiontotheNationalSkillsFund).TheSETAwasnotinapositiontoverifythatSARShascollectedallpotentialskillslevyincome.

RevenueisadjustedforinterSETAtransfersduetoemployerschangingSETA’s.SuchadjustmentsareseparatelydisclosedasinterSETAtransfers.TheamountoftheinterSETAadjustmentiscalculatedaccordingtothemostrecentStandardOperatingProcedureissuedbytheDepartment.


WhenanewemployeristransferredtotheSETA,theleviestransferredbytheformerSETAarerecognisedasrevenueandallocatedtotherespectivecategorytomaintainitsoriginalidentity.

3.2 InterestandpenaltiesInterestandpenaltiesreceivedontheskillsdevelopmentlevyarerecognisedontheaccrualbasis.

3.3 FundsallocatedbytheNationalSkillsFundforSpecialProjectsFundstransferredbytheNationalSkillsFund(NSF)areaccountedforinthefinancialstatementsoftheSETAasaliabilityuntiltherelatedeligiblespecialprojectexpensesareincurred,whentheliabilityisextinguishedandrevenuerecognised.

Property,plantandequipmentacquiredforNSFSpecialProjectsarecapitalisedinthefinancialstatementsoftheSETA,astheSETAcontrolssuchassetsforthedurationoftheproject.SuchassetsmayhoweveronlybedisposedofintermsofagreementandspecificwritteninstructionsbytheNSF.

3.4 GovernmentgrantsandotherdonorincomeConditionalgovernmentgrantsandotherconditionaldonor funding received is recordedasdeferred incomewhentheybecomereceivableandisthenrecognisedasandwhentheconditionsaremet.Unconditionalgrantsreceivedarerecognisedwhentheamountshavebeenreceived.

3.5 InvestmentincomeInterest income isaccruedona timeproportionbasis, taking intoaccount theprincipaloutstandingand theeffectiveinterestrateovertheperiodtomaturity.

4. Grantsandprojectexpenditure

Aregisteredemployermayrecoveramaximumof50%ofitstotallevypaymentasamandatoryemployergrant(excludinginterestandpenalties)bycomplyingwiththegrantcriteriainaccordancewiththeSkillsDevelopmentAct,1998SETAGrantRegulationsregardingmoniesreceivedandrelatedmatters(TheSETAGrantRegulations).

Mandatorygrants Grantsareequivalentto50%ofthetotalleviescontributedbyemployerstotheSETAduringthecorresponding

financialperiod.

Discretionarygrants ASETAmayallocatediscretionarygrantstoemployerswhohavesubmittedanapplicationforadiscretionary

grantintheprescribedformwithintheagreeduponcut-offperiod.

Discretionaryprojectexpenditure ASETAmayoutofsurplusmoniesandinaccordancewithcriteriaasdefinedintheSETAGrantRegulations

allocatefundstoemployersandotherassociationsororganisations.ThecriteriaforallocatingfundsareapprovedbytheSETACouncil.Wherenecessaryitcanberequiredofinterestedemployers,associationsororganisationstocompleteandsubmitafundingapplicationforconsiderationandapprovalbytheSETA.

Projectexpenditurecomprise: -coststhatrelatedirectlytothespecificcontract; -coststhatareattributabletocontractactivityingeneralandcanbeallocatedtotheproject;and -suchothercostsasarespecificallychargeabletotheSETAunderthetermsofthecontract.


Grow

ingForward|7 A


ents

Suchcostsareallocatedusingmethodsthataresystematicandrationalandareappliedconsistentlytoallcostshavingsimilarcharacteristics.

Projectcostsarerecognisedasexpensesintheperiodinwhichtheyareincurred.

RetrospectiveadjustmentsbySARS TheSETArefundsamountstoemployersintheformofgrants,basedoninformationfromSARS.WhereSARS

retrospectivelyamendstheinformationonleviescollected,itmayresultingrantsthathavebeenpaidtocertainemployersthatareinexcessoftheamounttheSETAispermittedtohavegrantedtoemployers.Areceivablerelatingtotheoverpaymenttotheemployerinearlierperiodsisraisedastheamountofsuchgrantoverpayment,netofbaddebtsandprovisionforirrecoverableamounts.

5. Irregularandfruitlessandwastefulexpenditure

Irregularexpendituremeansexpenditureincurredincontraventionof,ornotinaccordancewith,arequirementofanyapplicablelegislation,including:

-ThePFMA, -TheSkillsDevelopmentAct(theAct),1998(ActNo.97of1998)asamended

Fruitlessandwastefulexpendituremeansexpenditurethatwasmadeinvainandwouldhavebeenavoidedhadreasonablecarebeenexercised.

Allirregularandfruitlessandwastefulexpenditureisrecognisedagainsttherespectiveclassofexpenseintheperiodinwhichtheyareincurred.

6. Property,plantandequipment

Property,plantandequipmentisstatedatcostlessanysubsequentaccumulateddepreciationandadjustedforanyimpairments.Depreciationischargedsoastowriteoffthecostofassetsovertheirestimatedusefullives,usingthestraightlinemethod.

Theestimatedusefullives,residualvaluesanddepreciationmethodarereviewedateachyearend,withtheeffectofanychangesinestimateaccountedforonaprospectivebasis.

Where thecarryingamountof anasset is greater than its estimated recoverable amount, it iswrittendownimmediatelytoitsrecoverableamount(i.e.impairmentlossesarerecognised.)

Thegainorlossondisposalofproperty,plantandequipmentisdeterminedasthedifferencebetweenthesaleproceedsandthecarryingamountandaretakenintoaccountindeterminingoperatingprofit.

7. Intangibleassets

Intangible assets is stated at cost less any subsequent accumulated amortisation and adjusted for anyimpairments.Amortisationischargedsoastowriteoffthecostofassetsovertheirestimatedusefullives,usingthestraightlinemethod.

Theestimatedusefullives,residualvaluesandamortisationmethodarereviewedateachyearend,withtheeffectofanychangesinestimateaccountedforonaprospectivebasis.


Where thecarryingamountof anasset is greater than its estimated recoverable amount, it iswrittendownimmediatelytoitsrecoverableamount(i.e.impairmentlossesarerecognised.)

Thegainorlossondisposalofintangibleassetisdeterminedasthedifferencebetweenthesaleproceedsandthecarryingamountandaretakenintoaccountindeterminingoperatingprofit.

8. Leasing

FinanceleasesconsistentwiththedefinitionsetoutintheTreasuryRegulationsrefertoacontractthattransferstherisks,rewards,rightsandobligationsincidentaltoownershiptothelesseeandarerecordedasapurchaseofequipmentbymeansoflong-termborrowing.Allotherleasesareclassifiedasoperatingleases.

Paymentsmade under operating leases (leases other than finance leases) are charged to theStatement ofFinancialPerformanceonastraight-linebasisovertheperiodofthelease.Whenanoperatingleaseisterminatedbeforetheleaseperiodhasexpired,anypaymentrequiredtobemadetothelessorbywayofpenaltyisrecognizedasanexpenseintheperiodinwhichterminationtakesplace.

9. Provisions

ProvisionsarerecognisedwhentheSETAhasapresentobligationasaresultofapasteventanditisprobablethatthiswillresultinanoutflowofeconomicbenefitsthatcanbeestimatedreliably.Long-termprovisionsarediscountedtonetpresentvalue.

Thecostofemployeebenefitsisrecognisedduringtheperiodinwhichtheemployeerenderstherelatedservice.Employeeentitlementsarerecognisedwhentheyaccruetoemployees.AprovisionismadefortheestimatedliabilityasaresultofservicesrenderedbyemployeesuptotheStatementofFinancialPositiondate.ProvisionsincludedintheStatementofFinancialPositionareprovisionsforleave(basedonthecurrentsalaryrates)andterminationbenefits.

Terminationbenefitsarerecognisedandexpensedonlywhenthepaymentismade.

NoprovisionhasbeenmadeforretirementbenefitsastheSETAdoesnotprovideforretirementbenefitsforitsemployees.

10.Grantsandprojects

Mandatoryanddiscretionarygrantpayments AliabilityisrecognisedforgrantpaymentsoncethespecificcriteriasetoutintheSETAGrantRegulationhave

beencompliedwithbymembercompaniesanditisprobablethattheSETAwillapprovethepayment.TheliabilityismeasuredatthenetpresentvalueoftheexpectedfuturecashoutflowasdeterminedinaccordancewiththeAct.Thismeasurementinvolvesanestimate,basedontheamountofleviesreceived.

Discretionaryprojects Whereaprojecthasbeenapproved,buthasnotbeenaccruedfor,itisdisclosedascommitmentsinthenotes

tothefinancialstatements.


Grow

ingForward|7 A


ents

11. Financialinstruments

Recognition FinancialassetsandfinancialliabilitiesarerecognisedontheSETA’sStatementofFinancialPositionwhenthe

SETAbecomesapartytothecontractualprovisionsoftheinstrument.

Financial assets Investmentsarerecognisedandderecognisedonatradedatewherethepurchaseorsaleofaninvestmentis

underacontractwhosetermsrequiredeliveryoftheinvestmentwithinthetimeframeestablishedbythemarketconcerned,andare initiallymeasuredat fair value,netof transactioncostsexcept for thosefinancialassetsclassifiedasatfairvaluethroughprofitorloss,whichareinitiallymeasuredatfairvalue.

Financialassetscanbeclassifiedintothefollowingspecifiedcategories:financialassetsas‘atfairvaluethroughprofitorloss’(FVTPL),‘held-to-maturityinvestments’,‘available-for-sale’(AFS)financialassetsand‘loansandreceivables’.Theclassificationdependsonthenatureandpurposeofthefinancialassetsandisdeterminedatthetimeofinitialrecognition.

AllfinancialassetsoftheSETAwerecategorisedasloansandreceivables

LoansandreceivablesTradereceivables,loans,andotherreceivablesthathavefixedordeterminablepaymentsthatarenotquotedinanactivemarketareclassifiedas‘loansandreceivables’.Loansandreceivablesaremeasuredatamortisedcostusingtheeffectiveinterestmethodlessanyimpairment.Interestincomeisrecognisedbyapplyingtheeffectiveinterestrate,exceptforshort-termreceivableswheretherecognitionofinterestwouldbeimmaterial.

EffectiveinterestmethodTheeffectiveinterestmethodisamethodofcalculatingtheamortisedcostofafinancialassetandofallocatinginterestincomeovertherelevantperiod.Theeffectiveinterestrateistheratethatexactlydiscountsestimatedfuturecashreceiptsthroughtheexpectedlifeofthefinancialasset,or,whereappropriate,ashorterperiod.

ImpairmentoffinancialassetsFinancial assets are assessed for indicators of impairment at eachbalance sheet date. Financial assets areimpairedwherethereisobjectiveevidencethat,asaresultofoneormoreeventsthatoccurredaftertheinitialrecognitionofthefinancialasset,theestimatedfuturecashflowsofthe investmenthavebeenimpacted.Forfinancialassetscarriedatamortisedcost,theamountoftheimpairmentisthedifferencebetweentheasset’scarryingamountandthepresentvalueofestimatedfuturecashflows,discountedattheoriginaleffectiveinterestrate.

The carrying amount of the financial asset is reducedby the impairment loss directly for all financial assetswiththeexceptionoftradereceivableswherethecarryingamountisreducedthroughtheuseofanallowanceaccount.Whenatradereceivable isuncollectible, it iswrittenoffagainsttheallowanceaccount.Subsequentrecoveriesofamountspreviouslywrittenoffarecreditedagainsttheallowanceaccount.Changesinthecarryingamountoftheallowanceaccountarerecognisedinthesurplusordeficit.

Financial liabilities FinancialliabilitiesareclassifiedaseitherfinancialliabilitiesatFVTPLorotherfinancialliabilities.

Accountandotherpayablesdonotbearinterestandarestatedattheirnominalvalue.


FinancialliabilitiesatFVTPLFinancialliabilitiesareclassifiedasatFVTPLwherethefinancialliabilityiseitherheldfortradingoritisdesignatedasatFVTPL.

AllfinancialliabilitiesoftheSETAwereclassifiedasotherfinancialliabilities.

OtherfinancialliabilitiesOtherfinancialliabilitiesareinitiallymeasuredatfairvalue,netoftransactioncosts. Otherfinancialliabilitiesaresubsequentlymeasuredatamortisedcostusingtheeffectiveinterestmethod,withinterestexpenserecognisedonaneffectiveyieldbasis.

Theeffectiveinterestmethodisamethodofcalculatingtheamortisedcostofafinancialliabilityandofallocatinginterestexpenseovertherelevantperiod.Theeffectiveinterestrateistheratethatexactlydiscountsestimatedfuturecashpaymentsthroughtheexpectedlifeofthefinancialliability,or,whereappropriate,ashorterperiod.

12. Reserves

NetassetsisclassifiedbasedontherestrictionsplacedonthedistributionofmoniesreceivedinaccordancewiththeRegulationsissuedintermsoftheSkillsDevelopmentAct,1998(ActNo97of1998)asamendedasfollows:-Administrationreserve-Employergrantreserve-Discretionaryreserve-Unappropriatedsurplus

EmployerlevypaymentsaresetasideintermsoftheSkillsDevelopmentActandtheregulationsissuedintermsoftheAct,forthepurposeof:

2009/10 2008/09% %

AdministrationexpenditureoftheSETA 10 10MandatoryWorkplaceSkillsGrant 50 50Discretionarygrantsandprojects 20 20ReceivedbytheSETA 80 80ContributiontotheNationalSkillsFund 20 20

100 100

Inaddition,contributionsreceivedfrompublicserviceemployersinthenationalorprovincialspheresofgovernmentmaybeusedtofunditsadministrationcosts.

InterestandpenaltiesreceivedfromSARSaswellasinterestreceivedoninvestmentsareutilisedfordiscretionarygrantprojects.

Surplusfundsintheadministrationreserveandunallocatedfundsintheemployergrantreservearemovedtothediscretionaryfundreserve.Provision ismade inmandatorygrantreservefornewlyregisteredcompanies,participatingafterthelegislativecut-offdate.


Grow

ingForward|7 A


ents

13. Comparativefigures

Wherenecessary,comparativefigureshavebeenadjustedtoconformtochangesinpresentationinthecurrentyear.

14.Taxation

Noprovisionhasbeenmadefortaxation,astheSETAisexemptfromincometaxintermsofSection10oftheIncomeTaxAct,1962(Act58of1962).

15. ConsumableInventory

Consumables are recognised as an asset on the date of acquisition and it ismeasured at the cost of theacquisition.Itissubsequentlyrecognisedinsurplusordeficitasitisconsumed.

NOTESTOTHEANNUALFINANCIALSTATEMENTSFORTHEYEARENDED31MARCH2010

1. ALLOCATIONOFNETSURPLUS/(DEFICIT)FORTHEYEARTORESERVES:

Employer grants reserve

Discretionary reserve

Total per Statement

of Financial Performance

2008/09

Total per Statement


2009/10

Administration reserve

Mandatory skills grant

Discretionary grants

Special projects

Projects Total discretionary

R’000 R’000 R’000 R’000 R’000 R’000 R’000 R’000Total revenue 373980 352 262 40030 205127 82994 12044 12067 107105Skillsdevelopmentlevy:incomefromnon-exchangetransactions

Adminlevyincome(10%) 40984 40 022 40022 - - - - -Grantlevyincome(70%) 288347 288 121 - 205127 82994 - - 82994

Skillsdevelopmentlevy:penaltiesandinterestfromnon-exchangetransactions 937 1 016 - - - - 1 016 1 016 Donationsforspecialprojects 23884 12 044 - - - 12044 - 12044Investmentincome 19828 11 051 - - - - 11051 11051Otherincome - 8 8 - - - - -

Total expenditure (350691) (403 976) (36437) (200039) 1 (12044) (155457) (167500)Administrationexpenditure (28215) (36 437) (36437) - - - - -Specialprojectsexpenditure (23884) (12 044) - - - (12044) - (12044)Employergrantsandprojectexpenditure (298592) (355 495) - (200039) 1 - (155457) (155456)

Net surplus/(deficit) per Statement of Financial Performance allocated 23289 (51 714) 3593 5088 82995 - (143390) (60395)

50 | NOTES TO THE ANNUAL FINANCIAL STATEMENTS


Grow

ingForward|7 A


ents

1. ALLOCATIONOFNETSURPLUS/(DEFICIT)FORTHEYEARTORESERVES:

Employer grants reserve

Discretionary reserve

Total per Statement


2008/09

Total per Statement


2009/10

Administration reserve

Mandatory skills grant

Discretionary grants

Special projects

Projects Total discretionary

R’000 R’000 R’000 R’000 R’000 R’000 R’000 R’000Total revenue 373980 352 262 40030 205127 82994 12044 12067 107105Skillsdevelopmentlevy:incomefromnon-exchangetransactions

Adminlevyincome(10%) 40984 40 022 40022 - - - - -Grantlevyincome(70%) 288347 288 121 - 205127 82994 - - 82994

Skillsdevelopmentlevy:penaltiesandinterestfromnon-exchangetransactions 937 1 016 - - - - 1 016 1 016 Donationsforspecialprojects 23884 12 044 - - - 12044 - 12044Investmentincome 19828 11 051 - - - - 11051 11051Otherincome - 8 8 - - - - -

Total expenditure (350691) (403 976) (36437) (200039) 1 (12044) (155457) (167500)Administrationexpenditure (28215) (36 437) (36437) - - - - -Specialprojectsexpenditure (23884) (12 044) - - - (12044) - (12044)Employergrantsandprojectexpenditure (298592) (355 495) - (200039) 1 - (155457) (155456)

Net surplus/(deficit) per Statement of Financial Performance allocated 23289 (51 714) 3593 5088 82995 - (143390) (60395)

52 | NOTES TO THE ANNUAL FINANCIAL STATEMENTS (cont inued)

2. SKILLSDEVELOPMENTLEVYINCOMEFROMNON-EXCHANGETRANSACTIONS

Note 2009/10 2008/09R’000 R’000

ThetotallevyincomepertheStatementofFinancialPerformanceisasfollows:

Levyincome:Administration 40 022 40984Leviesreceived 39 946 39829LeviesreceivedfromSARS 39851 39803InterSETAtransfersin 109 32InterSETAtransfersout (14) (6)Leviesaccrued 76 1155

Levyincome:EmployerGrants 205 127 205879Leviesreceived 205 323 199528LeviesreceivedfromSARS 204849 199399InterSETAtransfersin 543 161 InterSETAtransfersout (69) (32)Leviesaccrued ( 196) 6351

Levyincome:DiscretionaryGrants 82 994 82468Leviesreceived 83 186 79823LeviesreceivedfromSARS 82996 79772InterSETAtransfersin 218 64InterSETAtransfersout (28) (13)Leviesaccrued ( 192) 2645

328 143 329331

3. INVESTMENTINCOME2009/10 2008/09R’000 R’000

InterestincomeBankdeposits 10865 19624Receivable 186 204

11 051 19828

4. OTHERINCOME2009/10 2008/09 R’000 R’000

Otherincomecomprises:Insuranceclaimreceived 8 -


Grow

ingForward|7 A


ents

5. EMPLOYERGRANTANDPROJECTEXPENDITURE

Note 2009/10 2008/09 R’000 R’000

Mandatorygrants 200 039 199736Disbursed 196 101 217737Provisionsandaccruals 3938 (18001)

Discretionarygrants (1) (26)Disbursed (7) (21)Provisionsandaccruals 6 (5)

Projectexpenditure 5.1 155 457 98882Disbursed 154200 94023Provisionsandaccruals 1257 4859

355 495 298592

5.1 Project expenditure consist of: Directprojectcosts 155 457 98882

6. ADMINISTRATIONEXPENDITURE2009/10 2008/09 R’000 R’000

Depreciation/Amortisation 438 322Lossonsaleofassets 7 29 Operatingleaserentals(minimumleasepayments) 1 452 1407

Buildings 1332 1254Plant,machineryandequipment 120 153

Maintenance,repairsandrunningcosts-other 121 34Advertising,marketingandpromotions,communication 2 801 2137Entertainmentexpenditure 384 156Consultancyandserviceproviderfees 7 148 6741Legalfees - 17Costofemployment 6.1 16 045 11075Travelandsubsistence 1 399 1039Stafftraininganddevelopment 764 677Remunerationtomembersoftheaccountingauthority 68 67Externalauditor’sremuneration-Auditfees 1 019 376Baddebtswrittenoff 10 22 Allowancefordoubtfuldebts (6) (1)Other 4 787 4116

Otheradministrationexpenditure 2152 1673Consultingfees 859 635Telephonecosts 553 393Workshops 417 483Printingandstationery 127 357Internalauditfees 657 577SoccerWorldCupexpenditure 22 -

36 437 28215


6.1 Cost of employmentNote 2009/10 2008/09

R’000 R’000 Salariesandwages 14 386 9768

Basicsalaries 9407 7606Performanceawards 4983 1804Temporarystaff 96 89Leavepayments (100) 269

Socialcontributions 1 659 1307Medicalaidcontributions 294 212 Pensioncontributions:definedcontributionplans 1189 973SkillsDevelopmentLevies 133 86UIF 43 36

16 045 11075AllocationofcostofemploymentAdministrationexpenditure 6 16 045 11075

Averagenumberofemployees 31 28

RefertothereportbytheAccountingAuthorityfordisclosureconcerningtheemolumentsofmembersoftheaccountingauthority,theChiefExecutiveOfficer.

7. PROPERTY,PLANTANDEQUIPMENT

CostAccumulated depreciation

Closing carrying amount

Year ended 31 March 2010 R’000 R’000 R’000Computerequipment 859 (645) 214 Officefurnitureandfittings 985 (540) 445 Officeequipment 235 (82) 153 Leaseholdimprovements 192 (192) -Balanceatendofperiod 2271 (1459) 812 Madeupasfollows:-Ownedassets 2271 (1459) 812

Year ended 31 March 2009 CostAccumulated depreciation


R’000 R’000 R’000Computerequipment 916 (559) 357Officefurnitureandfittings 934 (443) 491Officeequipment 219 (78) 141Leaseholdimprovements 192 (92) 100 Balanceatendofperiod 2 261 (1172) 1089Madeupasfollows:-Ownedassets 2 261 (1172) 1089


Grow

ingForward|7 A


ents

7. PROPERTY,PLANTANDEQUIPMENT(Continued)

Movement summary 2010Carrying amount

2009 Additions Disposals Depreciation

Carrying amount

2010R’000 R’000 R’000 R’000 R’000

Computerequipment 357 28 (8) (163) 214 Officefurnitureandfittings 491 53 - (99) 445 Officeequipment 141 50 - (38) 153 Leaseholdimprovements 100 - - (100) -Balanceatendofperiod 1089 131 (8) (400) 812

Movement summary 2009 Carrying amount

2008 Additions Disposals Depreciation

Carrying amount

2009 R’000 R’000 R’000 R’000 R’000

Computerequipment 294 187 (1) (123) 357Officefurnitureandfittings 482 125 (28) (88) 491Officeequipment 11 152 - (22) 141Leaseholdimprovements 50 114 - (64) 100 Balanceatendofperiod 837 578 (29) (298) 1089

7.1 Temporarily idle assets and assets not in use



Year ended 31 March 2010 R’000 R’000 R’000Computerequipment 5 (4) 1 Officeequipment 1 (1) - Balanceatendofperiod 6 (5) 1

Temporarily idle assets and assets not in use



Year ended 31 March 2009 R’000 R’000 R’000Computerequipment - - -Officeequipment - - -Balanceatendofperiod - - -


7.2 Property, Plant and Equipment fully depreciated but still in use

Gross carrying value2009/10 2008/09

Year ended 31 March 2010 R’000 R’000Computerequipment 352 320Officefurnitureandfittings 15 -Officeequipment 17 17Leaseholdimprovements 193 -Balanceatendofperiod 577 337

The following useful lives are used in the calculation of depreciation.-Computerequipment 3years 33.33%-Officefurnitureandfittings 10years 10%-Officeequipment 5years 20%-Leaseholdimprovements overtheleaseterm

8. INTANGIBLEASSETS

CostAccumulated amortisation


Year ended 31 March 2010 R’000 R’000 R’000Applicationsoftware 157 (111) 47 Madeupasfollows:-Ownedassets 157 (111) 47

CostAccumulated amortisation


Year ended 31 March 2009 R’000 R’000 R’000Applicationsoftware 95 (73) 22 Madeupasfollows:-Ownedassets 95 (73) 22


Grow

ingForward|7 A


ents

8. INTANGIBLEASSETS(Continued)


2009 Additions Disposals Amortisation

Carrying amount

2010R’000 R’000 R’000 R’000 R’000

Applicationsoftware 22 63 - (38) 47


2008 Additions Disposals Amortisation

Carrying amount

2009 R’000 R’000 R’000 R’000 R’000

Applicationsoftware 30 16 - (24) 22

ApplicationsoftwarecomplieswiththedefinitionofIntangibleassets,whichisanidentifiablenon-monetaryassetwithoutphysicalsubstance.

Theamortisationexpensehasbeenincludedinthelineitem‘depreciation/amortisation’innote6,administrationexpenditure.

8.1 Temporarily idle assets and assets not in use



Year ended 31 March 2010 R’000 R’000 R’000Applicationsoftware 38 (38) -

Temporarily idle assets and assets not in use



Year ended 31 March 2009 R’000 R’000 R’000Applicationsoftware - - -

8.2 Intangible assets fully depreciated but still in use

2009/10 2008/09Gross carrying value R’000 R’000Applicationsoftware 18 18

The following useful lives are used in the calculation of amortisation.Applicationsoftware 2years 50%


9 ACCOUNTSRECEIVABLEFROMNON-EXCHANGETRANSACTIONS

Note 2009/10 2008/09 R’000 R’000

SkillsdevelopmentlevydebtorsIntersetadebtors 23 404 106 Employerreceivables 9.1 483 186Allowanceforimpairment 9.1 - (6)

887 286

9.1 Employer receivable2009/10 2008/09 R’000 R’000

EmployerreceivableOverpaymenttoemployers 483 186Allowanceforimpairment - (6)NeteffectofSARSretrospectiveadjustmentsonaffectedemployers 483 180

R483000(2008/09:R186000)wasrecognisedasareceivablerelatingtotheoverpaymenttotheemployerinearlierperiods,andisbasedontheamountofsuchgrantoverpayments.AnamountofR10000(2008/09:R8000)waswrittenoffasdoubtfuldebt.

10 OTHERACCOUNTSRECEIVABLE2009/10 2008/09 R’000 R’000

Deposits 142 142Prepaidexpenses - 145Interestreceivables 186 204

328 491

11 CASHANDCASHEQUIVALENTS

Forthepurposesofthecashflowstatement,cashandcashequivalentsincludecashonhandandinbanksandinvestmentsinfixeddeposits.Cashandcashequivalentsattheendofthefinancialyearasshowninthecashflowstatementcanbereconciledtotherelateditemsinthebalancesheetasfollows:

2009/10 2008/09 R’000 R’000

Cashatbankandonhand 50 152 25519Cashatbank 50 147 25514Cashonhand 5 5Shortterminvestments/instruments 75 640 125016Cashandcashequivalentsatendofyear 125 792 150535

Asrequired inTreasuryRegulation31.2,NationalTreasuryapprovedthebankswherethebankaccountsareheld.Theweightedaverageinterestrateonshorttermbankdepositswas7.36%(2008/09:11.55%).

TheSkillsDevelopmentActRegulationsstatethataSETAmay,ifnototherwisespecifiedbythePublicFinanceManagementAct,investthemoniesinaccordancewiththeinvestmentpolicyapprovedbytherelevantSETA.


Grow

ingForward|7 A


ents

11 CASHANDCASHEQUIVALENTS(Continued)

TreasuryRegulation31.3requiresthat,unlessexemptedbytheNationalTreasury,theSETAasapublicentitythatislistedinSchedule3AoftheActmustinvestsurplusfundswiththeCorporationforPublicDeposits.

AstheSETAwasexemptedbytheNationalTreasuryfromtherequirementofTreasuryRegulation31.3toinvestsurplusfundswiththeCorporationforPublicDeposits,surplusfundswereinvestedinlinewithaninvestmentpolicyasrequiredbyTreasuryRegulation31.3.5.

12 TRADEANDOTHERPAYABLESFROMEXCHANGETRANSACTIONS

2009/10 2008/09 R’000 R’000

Projectcreditors 10 811 9554Sundrypayables 1 439 2 022

Tradepayables 672 775Otheraccruedexpenditure 349 727LeaveAccrual 418 520

12 250 11576

13 TRADEANDOTHERPAYABLESFROMNON-EXCHANGETRANSACTIONS

Note 2009/10 2008/09 R’000 R’000

Skillsdevelopmentgrantspayable-mandatory 17 075 16 012 SARSPayable 13.1 5 989 5677Intersetapayables 23 4 6 Employerpayables 3 345 113

26 413 21808

13.1 SARS Payable Opening Balance

R’000

Change In Estimate

R’000Addition

R’000

Closing Balance

R’0002009/10Leviesincorrectlyreceived 916 47 265 1228Leviesidentifiedfromvariancereport 4761 - - 4761

5 677 47 265 5 989 2008/09Leviesincorrectlyreceived 697 56 164 916 Leviesidentifiedfromvariancereport 15130 (10369) - 4761

15827 (10313) 164 5677

AnamountofR1228000(2008/09:916000)relatestoleviesincorrectlycontributedbyemployers,andpaidoverbySARSandDOL,afterbeingexemptedfromcontributingskillsdevelopmentleviesduetonewlegislationwhichcameintoeffect1August2005.AnamountofR4761000relatestoskillsdevelopmentleviesincorrectlyreceivedfromregisteredemployers.


14 DONORFUNDINGRECEIVEDINADVANCE2009/10 2008/09R’000 R’000

14.1 Opening balance ABSA 2 278 2522Receivedduringtheyear-LETSEMA - 22133Interestreceived 108 1205

Utilisedandrecognisedasrevenue-conditionsmet: ( 991) (23582)LETSEMA5Training&Development - (5973)LETSEMA5ProjectCost (70) (17307)LETSEMA6ProjectCost (922) (302)

Closing balance 1 395 2278

DuringtheyearBANKSETAreceivedanamountofR0(2008/09:R22133000)fromABSA.ThebalancefromlastyearwasusedtosupporttheLETSEMA6project.

2009/10 2008/09R’000 R’000

14.2 Opening balance Nedbank ( 302) -Receivedduringtheyear-NedbankLETSEMA6project 1 192 -Interestreceived 22 -

Utilisedandrecognisedasrevenue-conditionsmet: ( 849) (302)LETSEMA6ProjectCost ( 849) (302)

Closing balance 63 (302)

NedbankhascommittedtosupporttheLETSEMA6project.FundingonlyreceivedinApril2009.

Note 2009/10 2008/0914.3 Opening balance InterSETA Summit R’000 R’000

Receivedduringtheyear-InterSETASummit 2 587 -Interestreceived 28 -

Utilisedandrecognisedasrevenue-conditionsmet: (2 379) -InterSETASummit (2 379) -

Closing balance 25 236 -

DuringtheyearBANKSETAreceivedanamountofR2587000(2008/09:R0)fromotherSETAs,toadministeranInterSETAconference.


Grow

ingForward|7 A


ents

14 DONORFUNDINGRECEIVEDINADVANCE(Continued)

2009/10 2008/09R’000 R’000

14.4 Opening balance ABSA LETSEMA 7Receivedduringtheyear-ABSALETSEMA7project 30 000 -Interestreceived 33 -

Utilisedandrecognisedasrevenue-conditionsmet: (7 825) -LETSEMA7Training&Development (3 500) -LETSEMA7ProjectCost (4 325) -

Closing balance 22 208 -

ABSAhascommittedtosupporttheLETSEMA7project.FundingonlyreceivedinMarch2010.

2009/10 2008/09R’000 R’000

TOTAL SPECIAL PROJECT INCOME RECOGNISED FOR THE YEAR PER THE STATEMENT OF FINANCIAL PERFORMANCE 12 044 23884

15 RECONCILIATIONOFNETCASHFLOWFROMOPERATINGACTIVITIESTONET(DEFICIT)/SURPLUS

2009/10 2008/09R’000 R’000

Net(deficit)/surplusasperStatementofFinancialPerformance (51 714) 23289Adjustedfornon-cashitems:Depreciation/Amortisation 438 322Lossondisposalofproperty,plantandequipment 7 29

Baddebtswrittenoff 10 22 Allowancefordoubtfuldebts ( 6) (1)Specialprojectincomerecognised (33 668) (23640)

AdjustedforitemsseparatelydisclosedInterestreceived (11 051) (19828)

Adjustedforworkingcapitalchanges:Decrease/(Increase)inotherreceivables 651 (17)(Increase)/Decreaseinreceivablesfromnon-exchangetransactions ( 604) 5463Increase/(Decrease)inpayables 26 903 (29022)IncreaseinConsumables ( 48) (15)Cashutilisedinoperations (69 082) (43398)


16 CONTINGENCIES

16.1 Retention of surplus fundsIntermsofthePFMA,allsurplusfundsasatyear-endmaybeforfeitedtoNationalTreasuryshouldanapplicationforretentionofsurplusfundsbedenied.BANKSETAsubmittedanapplicationtotheDepartmentfortheretentionof surplus funds.As in theprevious yearBANKSETAhas receivedapproval fromNationalTreasury to retainsurplusfunds.

16.2 First time employer registrationsThe Skills Development legislation allows an employer, registering for the first time, 6months to submit anapplicationforamandatorygrant.

As the reporting date it is estimated that, as a result, additionalmandatory grant expenditure of R202 000(2008/09:R134000)will bepayable.Theamount is contingenton thenumberof submission receivedandapproved.

16.3 New scheme year levies receivedAtthereportingdatelevieswerereceivedinrespectofthenewschemeyear,forwhich,theSkillsDevelopmentlegislationallowsanemployeruntil30June2011tosubmitanapplicationforamandatorygrant.

Atthereportingdateitisestimated,asaresult,thatadditionalmandatorygrantexpenditureofR0(2008/09:R76000)willbepayable.Theamountiscontingentonthenumberofsubmissionreceivedandapproved.

17 COMMITMENTS

17.1 Discretionary reserveOfthebalanceofR64327000(2008/09:R115782000)available intheDiscretionaryreserveattheendofMarch2010,R60346000hasbeenapprovedandcontractedforfutureprojectsandskillsprioritiesassetoutbelow.Amountsforexpenditurethathavealreadybeencontractedorincurred,andthereforeincludedingrantexpensesintheStatementofFinancialPerformance,arealsoindicated.


Grow

ingForward|7 A


ents

Op

enin

g

bal

ance

20

08/0

9

Ap

pro

ved

b

y A

cco

unti

ng

Aut

hori

ty

Uti

lised

O

pen

ing

b

alan

ce

2009

/10

Ap

pro

ved

b

y A

cco

unti

ng

Aut

hori

ty

Uti

lised

Tota

l

Fund

s co

mm

itte

d

to S

igne

d

cont

ract

s

Ind

icat

or

Pro

ject

sR

’000

R’0

00R

’000

R’0

00R

’000

R’0

00R

’000

R’0

00

1Project97:W

omen’sDevelop

ment

Program

me

70(40)

(30)

--

--

-

2.8

Project142:M

asterbursaryscheme

(employedpeople)

655

(649

)(6)

--

--

-

4.1

Project149:LETS

EMA3

3(3)

--

--

--

2.8

Project165:W

omen’sDevelop

ment

Program

me2006

689

6-

(4910

)19

86(1031)

(956)

--

2.8

Project166:S

METrainingVoucher

Project2006

297

(293

)(4)

--

--

-

2.8

Project178:IEDP:C

anada

6(6)

--

--

--

2.8

Project182:BANKSETA

:Master&

ExecutiveCourses2007

88-

(88)

--

--

-

2.7

Project184:A

BETSuppo

rt2006

88-

-88

(88)

--

-

2.4

Project185:BANKSETA

:IiP

Implem

entation&Suppo

rt

558

500

(626

)43

2465

(881)

16-

4.1

Project186:LETS

EMA4

174

5(1694

)(51)

--

--

-

5.1

Project194:C

entresOfE

xcellence

2006/7

385

-(250

)13

514.8

(150)

--

4.1

Project199:BANKSETA

:2007Kuyasa

301

(301

)-

-

-

-

-

-

2.8

Project205:BANKSETA

:IEDPCanada

2007

31

(31)

-

-

-

-

-

-

2.8

Project207:BANKSETA

:Jnr&Middle

Managem

entD

evProgram

me

1570

85963

(9467

)1220

4(181)

(12024)

--

2.5

Project208:BANKSETA

:BuildingA

BetterBusiness(NW&W

C)

535

-

(269

) 2

66

(127)

(139)

--


Op

enin

g

bal

ance

20

08/0

9

Ap

pro

ved

b

y A

cco

unti

ng

Aut

hori

ty

Uti

lised

O

pen

ing

b

alan

ce

2009

/10

Ap

pro

ved

b

y A

cco

unti

ng

Aut

hori

ty

Uti

lised

Tota

l

Fund

s co

mm

itte

d

to S

igne

d

cont

ract

s

Ind

icat

or

Pro

ject

sR

’000

R’0

00R

’000

R’0

00R

’000

R’0

00R

’000

R’0

00

4.1

Project209:BANKSETA

:LETS

EMA5

2044

5-

(1880

3)1642

(1708)

66

--

4.1

Project210:BANKSETA

:KUYA

SA

2008

9 0

91

-

(8459

)632

(632)

-

-

-

2.8

Project211:BANKSETA

:IEDPUK

2008

4510

(450

)(3908

)152

(152)

-

--

2.8

Project212:BANKSETA

:SMETraining

VoucherProject2007

2557

-

(85)

2472

(2472)

46

46

-

4.1

Project213:BANKSETA

:Bridging

Program

me-DisabledLearners

6

(6)

-

-

-

-

-

-

5.1

Project214:BANKSETA

:Centreof

Excellence2008

5499

-

(1693

)3806

455

(2606)

1655

1410

2.8

Project215:BANKSETA

:Masters&

ExecutiveCourses2008

1820

-

(1272

)548

(231)

(317)

--

5.3

Project216:BANKSETA

:ETQ

A:

ExternalM

oderation

317

500

(347

)470

(436)

(34)

--

2.7

Project217:BANKSETA

:ABET

Suppo

rt2007

349

(95)

(254

)-

-

-

--

2.8

Project219:BANKSETA

:Medium

Com

panyVoucherProject2007

602

-

(8)

594

(594)

-

-

-

1.1

Project221:BANKSETA

:Research:

FutureSkillsinBanking

699

(673

)(26)

-

-

-

-

-

2.8

Project222:BANKSETA

:SMELifelong

LearningW

orkshops

891

(129

)(762

)-

-

-

--

4.3

Project224:BANKSETA

:New

Venture

CreationSkillsProgram

me

641

-

(480

) 1

61

(161)

-

-

-

5.2

Project225:BANKSETA

:PPPNew

VentureCreation

200

-

(200

)-

-

-

-

-

3.2

Project226:BANKSETA

:Co-Operative

BankStaffDevelop

ment

616

(229

)(387

)-

-

-

--


Grow

ingForward|7 A


ents

Op

enin

g

bal

ance

20

08/0

9

Ap

pro

ved

b

y A

cco

unti

ng

Aut

hori

ty

Uti

lised

O

pen

ing

b

alan

ce

2009

/10

Ap

pro

ved

b

y A

cco

unti

ng

Aut

hori

ty

Uti

lised

Tota

l

Fund

s co

mm

itte

d

to S

igne

d

cont

ract

s

Ind

icat

or

Pro

ject

sR

’000

R’0

00R

’000

R’0

00R

’000

R’0

00R

’000

R’0

00

3.2

Project227:BANKSETA

:Co-op

erative

BanksShareholderConsEducation

179

(26)

(153

)-

-

-

--

1.2

Project229:BANKSETA

:International

Conference2008-Planning

1544

1

26

(1670

)-

-

-

--

4.2

Project232:BANKSETA

:CIDA

Bursariesunem

ployed

28

-

(28)

-

-

-

-

-

4.2

Project235:FASSETPartnership:

ThusananiProgram

me

2859

-

(2841

)18

-

(18)

-

-

4.3

Project237:B

EENVCProject

342

-(336

)6

(6)

--

-

2.8

Project238:IntroductoryCoursein

IslamicBanking

994

-

-

994

(340)

(455)

199

1

99

4.3

Project239:N

VC-Ciproregistration

60

(2)

(58)

-

-

-

-

-

2.1

Project241:Financialeducation-

translationsandreprod

ucing

215

-

-

215

(100)

-

115

-

2.8

Project242:B

ANKSETA

IEDPCanada

Prep2008

4321

(450

)(3707

)164

(162)

37

39

-

1.1

Project243:N

eedsAnalysis-

Managem

entD

evelop

ment

400

38

(438

)-

-

-

-

-

1.1

Project244:M

FINeedsAnalysisProject

310

(59)

(251

)-

-

-

-

-

2.5

Project245:S

MEBuildingaBetter

Business

-

900

(863

)37

1 0

00

(892)

145

-

2.8

Project246:Q

CTO

PilotP

roject

-

7450

(211

)7239

2500

(2163)

7576

2390

4.1

Project247:LearnerTracking

-

300

(99)

201

(3)

(198)

--

4.2

Project248:FASSETPartership:

Thusanani

-

4400

(3709

) 6

91

(500)

(184)

7

-


Op

enin

g

bal

ance

20

08/0

9

Ap

pro

ved

b

y A

cco

unti

ng

Aut

hori

ty

Uti

lised

O

pen

ing

b

alan

ce

2009

/10

Ap

pro

ved

b

y A

cco

unti

ng

Aut

hori

ty

Uti

lised

Tota

l

Fund

s co

mm

itte

d

to S

igne

d

cont

ract

s

Ind

icat

or

Pro

ject

sR

’000

R’0

00R

’000

R’0

00R

’000

R’0

00R

’000

R’0

00

2.2

Project249:InnovativeSolutionsfor

SME

-

-

-

-

1 1

00

(909)

191

-

2.2

Project251:S

METrainingVoucher

Project2008/09

-

3000

(1778

) 1

222

2500

(3263)

459

-

1.2

Project252:B

ANKSETA

:Career

Awareness2008/09

-

1 0

00

(989

) 1

1 1500

(1267)

244

-

1.1

Project253:B

ANKSETA

:ScarceSkills

Research

-

1300

(223

)1077

-

(354)

723

-

2.8

Project254:B

ANKSETA

:Masters&

ExecShortCourses

-

6 0

00

(443

)5557

(300)

(4270)

987

527

2.8

Project255:B

ANKSETA

:LLLLarge&

Medium2008/09

-

358

(358

)-

-

-

-

-

2.8

Project256:1

8.1NicheLearnerships-

scarceskills

-

4000

(1170

)2830

(2680)

(150)

-

-

2.8

Project257:1

8.2NicheLearnerships-

scarceskills

-

3700

(915

)2785

(2155)

(630)

-

-

2.7

Project258:A

BETSuppo

rt2008/09

-

550

(231

)319

6

00

(653)

266

-

4.2

Project259:C

IDABursaries

(unemployed)

-

1500

(1473

)27

-

(21)

6

-

4.3

Project260:N

VCProgram

me2008/09

-

700

(436

)264

(264)

-

-

-

5.2

Project261:P

PPNew

VentureCreation

Provider2008/09

-

200

(114

)86

(86)

-

-

-

4.1

Project262:Kuyasa2008/09

-

1127

2(2807

)8465

632

(7605)

1492

1492

Project263:C

EODiscretionarypoolof

funds

-

713

-

713

(713)

-

-

-

4.1

Project264:B

ridgingProgram

mefor

DisabledLearners

-

1 0

00

(746

)254

(254)

-

-

-


Grow

ingForward|7 A


ents

Op

enin

g

bal

ance

20

08/0

9

Ap

pro

ved

b

y A

cco

unti

ng

Aut

hori

ty

Uti

lised

O

pen

ing

b

alan

ce

2009

/10

Ap

pro

ved

b

y A

cco

unti

ng

Aut

hori

ty

Uti

lised

Tota

l

Fund

s co

mm

itte

d

to S

igne

d

cont

ract

s

Ind

icat

or

Pro

ject

sR

’000

R’0

00R

’000

R’0

00R

’000

R’0

00R

’000

R’0

00

4.1

Project265:1

8.2Internships

(employed)

-

300

-

300

(300)

-

-

-

2.8

Project266:InternationalLearningDev

Conference

-

500

(26)

474

466

(940)

--

4.1

Project267:Letsema6

-

4638

3(1249

3)3389

01294

(34422)

762

-

4.1

Project269:S

tudyto

accom

mod

ate

deafintheworkplace

-

300

(229

)71

-

-

71

-

5.1

Project270:BANKSETA

:Skills

ResourceCentre2008/09

-

5815

-

5815

(565)

(5055)

195

-

2.2

Project271:S

MELifelongLearning

Workshops2008/09

-

1 2

00

(576

)624

1

200

(475)

1349

-

5.1

Project272:BANKSETA

:IoB

Centerof

Excellence

-

1500

(300

) 1

200

-

(1200)

-

-

2.8

Project273:D

octoral&PostD

octoral

Funding

-

1930

(75)

1855

6

00

(983)

1472

849

2.8

Project274:E

DPPlanning2009

-

3000

(2764

)236

(145)

(91)

--

2.8

Project275:P

rojectEvaluation&

impactStudies

-

2 0

00

(674

)1326

1

00

(1427)

--

2.8

Project276:S

carceSkillsAnalysis&

Solutions

-

4000

-

4000

(4000)

-

-

-

2.8

Project277:S

carceSkillsFunding

-

4000

(2542

)1458

-

-

1458

-

2.8

Project278:ICTBankingSuppo

rt

TechnicianBenchmark

-

2 0

00

(276

)1724

250

(2205)

(231)

-

2.2

Project279:S

MESkillsDevToolkit

-

1500

-

1500

-

(1001)

499

-

5.1

Project280:C

entreofExcellence:

LeadershipCouncil

-

400

(40)

360

(360)

-

-

-


Op

enin

g

bal

ance

20

08/0

9

Ap

pro

ved

b

y A

cco

unti

ng

Aut

hori

ty

Uti

lised

O

pen

ing

b

alan

ce

2009

/10

Ap

pro

ved

b

y A

cco

unti

ng

Aut

hori

ty

Uti

lised

Tota

l

Fund

s co

mm

itte

d

to S

igne

d

cont

ract

s

Ind

icat

or

Pro

ject

sR

’000

R’0

00R

’000

R’0

00R

’000

R’0

00R

’000

R’0

00

2.8

Project281:FAISPreparation

-

400

-89

311

-

(271)

40

-

2.8

Project282:FAIS

-

150

-

150

(43)

(107)

--

2.4

Project283:G

oodPracticeAwards

2009

-

400

-

400

(370)

(30)

-

-

2.8

Project284:InterbankTrainingMaterial

Upd

ate

-

700

-

700

-

(131)

569

-

2.8

Project285:H

IV/AIDSTrainingSuppo

rt

-

1 0

00

-

1 0

00

400

(1011)

389

-

2.5

Project286:C

o-OpbanksIoB/SBSA

2008/09

-

500

(366

)134

(134)

-

--

2.8

Project287:IEDPEurop

e2009

-

-

-

-

3992

(3992)

-

-

2.8

Project288:P

rovincialStrategy

Implem

entation

-

-

-

-

370

(266)

104

-

5.2

Project289:P

PPNew

VentureCreation

Provider

-

-

-

-

500

(465)

36

-

2.8

Project290:FAISSuppo

rt&

Implem

entation

-

-

-

-

8100

(5946)

2154

2154

2.5

Project291:C

o-op

erativeBankStaff

developm

ent

-

-

-

-

850

(760)

90

-

4.3

Project292:N

VCProgram

me

-

-

-

-

900

(864)

36

36

2.8

Project293:D

iscretionaryGrant

FundingWindo

w2009

-

-

-

-

19501

(13096)

6405

7507

2.8

Project294:R

easonableAccom

odation

Strategies

-

-

-

-

500

(14)

486

-

4.1

Project296:LETS

EMAlearnership(*)

-

-

-

-

27876

(7583)

20293

20295

4.1

Project297:18.2NicheLearnerships

-

-

-

-

13185

(8850)

4335

3610


Grow

ingForward|7 A


ents

Op

enin

g

bal

ance

20

08/0

9

Ap

pro

ved

b

y A

cco

unti

ng

Aut

hori

ty

Uti

lised

O

pen

ing

b

alan

ce

2009

/10

Ap

pro

ved

b

y A

cco

unti

ng

Aut

hori

ty

Uti

lised

Tota

l

Fund

s co

mm

itte

d

to S

igne

d

cont

ract

s

Ind

icat

or

Pro

ject

sR

’000

R’0

00R

’000

R’0

00R

’000

R’0

00R

’000

R’0

002.8

Project298:1

8.1NicheLearnerships

-

-

-

-

11350

(8580)

2770

2580

4.1

Project300:K

UYA

SA2009/10(*)

-

-

-

-

14800

(3782)

11018

9426

4.1

Project301:B

ridgingprogram

mefor

learnerswithdisability(*)

-

-

-

-

5500

(314)

5186

2248

4.1

Project302:S

carceskillsanalysis&

solutions(*)

-

-

-

-

8400

(2443)

5957

-

2.8

Project303:N

ationalPaymentS

ystem

-

-

-

-

800

(86)

714

513

2.8

Project304:IEDPUK2009

-

-

-

-

3555

(3555)

-

-

2.8

Project306:M

icrofinance

Benchmarking

-

-

-

-

800

(119)

681

-

5.1

Project308:C

entreof

Excellence:UniversityofFortH

are

-

-

-

-

2725

(2476)

249

-

2.8

Project310:BANKSETA

Managem

ent

Develop

mentP

rogram

me(*)

-

-

-

-

6 9

00

(394)

6506

5110

2.8

Project311:IEDPPlanning2010

-

-

-

-

1784

(1784)

-

-

2.8

Project314:A

STD

Techknowledg

eConference2010

-

-

-

-

500

(494)

6

-

Project315:InterSETA

Sum

mit2009

-

-

-

-

200

(200)

-

-

2.8

Project316:IEDPEurop

e-

-

-

-

4000

(27)

3973

-2.8

Project331:IEDPUK

-

-

-

-

4000

(27)

3973

-To

tal p

roje

ct e

xpen

dit

ure

8686

1128

318

(9888

2)

116

297

134871

(155457)

95711

60346

(*)Fundsallocatedtoprojectwithenddate31March201

1


17.2 Operating Leases

Totaloffutureminimumleasepaymentsundernon-cancelableleases:

2009/10 2008/09R’000 R’000

Notlaterthanoneyear 1 277 1394Laterthanoneyearandnotlaterthanfiveyears 4 18

1 282 1412

Part of the operating lease above relates to building premises used for office accommodation. The leaseagreementwasenteredintoeffective1August2003withaterminationdateof31March2005.Theleasewasextendedforfiveyearsuntil31/03/2010anditwasextendedforanotheryearuntil31March2011.Therentalandoperationalcostsescalateannuallyon1Aprilwith11%.Includedintheoperatingleasenoteistheleaseofthephotocopymachine.Theleaseagreementwasenteredintoeffective19April2005anddoesnotescalate.

18 MATERIALLOSSESTHROUGHCRIMINALCONDUCT,IRREGULAR,FRUITLESSANDWASTEFULEXPENDITURE

BANKSETAhasinstitutedaspecial investigationofdiscretionarygrantpaymentsmadeduring2009/10toaspecificserviceprovider.Onconclusionofthisinvestigationitwillbenecessarytomakeadeterminationofapotentialfruitlessandwastefulexpenditure.

19 FINANCIALINSTRUMENTS

InthecourseoftheSETAoperationsitisexposedtocredit,liquidityandmarketrisk.TheSETAhasdevelopedacomprehensiveriskstrategyintermsofTR28.1inordertomonitorandcontroltheserisks.Theriskmanagementprocessrelatingtoeachoftheserisksisdiscussedundertheheadingsbelow.

Interest rate risk TheSETAmanagesitsinterestrateriskbyeffectivelyinvestingSETAsurpluscashintermdepositswithdifferentfinancialinstitutionsaccordingtotheSETA’sinvestmentpolicy.


Grow

ingForward|7 A


ents

19 FINANCIALINSTRUMENTS(Continued)

TheSETA’sexposuretointerestrateriskandtheeffectiveinterestratesonfinancialinstrumentsatStatementofFinancialPositiondateareasfollows:

Floating rate Non-

interest bearing

TOTAL R’000Year ended 31 March 2010

AmountR’000

Effective interest

rateAmountR’000

ASSETS Cash 125792 7.36% - 125 792 Accountsreceivablefromnon-exchangetransactions 887 887 Otheraccountsreceivable 328 328 Total financial assets 125792 7.36% 1215 127 007

LIABILITIES TradeandotherPayables (12250) (12 250) Total financial liabilities - - (12250) (12 250)

Year ended 31 March 2009 Total financial assets 150535 11.55% 777 151312Total financial liabilities - (11576) (11576)

150535 11.55% (10799) 139737

Financialinstrumentshavenotbeendiscountedastheywillallbesettledorrecoveredwithin3months.Effectofdiscountingwasconsideredandfoundnottobematerial.

Credit riskFinancialassets,whichpotentiallysubjecttheSETAtotheriskofnonperformancebycounterpartiesconsistmainlyofcashandcashequivalentsandaccountsreceivable.

TheSETA limits its treasurycounter-partyexposurebyonlydealingwithwell-establishedfinancial institutionsapprovedbyNationalTreasury.TheSETA’sexposureiscontinuouslymonitoredbytheaccountingauthority.

Creditriskwithrespecttolevypayingemployersislimitedduetothenatureoftheincomereceived.TheSETA’sconcentrationofcreditriskislimitedtothebankingindustryinwhichtheSETAoperates.Noeventsoccurredinthebankingindustryduringthefinancialyearthatmayhaveanimpactontheaccountsreceivablethathasnotbeenadequatelyprovidedfor.TheSETAisexposedtoaconcentrationofcreditrisk,assignificantamountsisowedbytheSouthAfricanRevenueService(SARS).ThisconcentrationofriskislimitedasSARSisagovernmententitywithsoundreputation.Accountsreceivablearepresentednetofallowancefordoubtfuldebt.



The ageing of other receivables 2009/10 2008/09Gross R’000

Impairment R’000

Gross R’000

Impairment R’000

Notpastdue - - 145 -Pastdue0-30days 186 - 204 -Pastdue31-120days - - - -Pastdue120-365days - - - -Morethanoneyear - - - -

The ageing of cash and cash equivalents: 2009/10 2008/09Gross R’000

Impairment R’000

Gross R’000

Impairment R’000

Notpastdue 125792 - 150535 -Pastdue0-30days - - - -Pastdue31-120days - - - -Pastdue120-365days - - - -Morethanoneyear - - - -

Liquidity riskTheSETAmanagesliquidityriskthroughpropermanagementofworkingcapital,capitalexpenditureandactualvs.forecastedcashflowsanditscashmanagementpolicy.Adequatereservesandliquidresourcesarealsomaintained.

2009/10 Carrying Amount

Contractual Cash Flows

6 months or less

6 - 12 months

1 - 2 years

More than 2 years

R’000 R’000 R’000 R’000 R’000 R’000Tradeandotherpayables (12250) (12250) (12250) - - -

2008/09 Carrying Amount

Contractual Cash Flows

6 months or less

6 - 12 months

1 - 2 years

More than 2 years

R’000 R’000 R’000 R’000 R’000 R’000Tradeandotherpayables (11576) (11576) (11576) - - -

In caseof liquidityproblems, funding resourcesmightbeavailable in termsof theDepartmentandNationalTreasuryapprovalforborrowingrequirementsintheopenmarket.

Market riskTheSETAisexposedtofluctuationsintheemploymentmarketforexamplesuddenincreasesinunemploymentandchangesinthewagerates.NosignificanteventsoccurredduringtheyearthattheSETAisawareof.

Fair valuesTheSETA’sfinancialinstrumentsconsistmainlyofcashandcashequivalents,accountandotherreceivables,andaccountandotherpayables.Nofinancialinstrumentswerecarriedatanamountinexcessofitsfairvalue.Thefollowingmethodsandassumptionsareusedtodeterminethefairvalueofeachclassoffinancialinstrument:

Cash and cash equivalentsCashandcashequivalents comprise cashheldby theSETAand short-termbankdepositswith anoriginalmaturityofthreemonthsorless.Thecarryingamountoftheseassetsapproximatestheirfairvalue.


Grow

ingForward|7 A


ents


Accounts receivableThecarryingamountofaccountsreceivableisnetofallowanceforanydoubtfuldebt,estimatedbytheaccountingauthoritybasedonpriorexperience.Thecarryingamountoftheseassetsapproximatestheirfairvalue.

Accounts payableThecarryingamountof account andotherpayablesapproximates fair valuedue to the relatively short-termmaturityofthesefinancialliabilities.

20 NEWACCOUNTINGPRONOUNCEMENTS

Atthedateofauthorisationofthesefinancialstatements,thereareStandardsandInterpretationsinissuebutnotyeteffective.TheseincludethefollowingStandardsandInterpretationsthatareapplicabletotheSETAandmayhaveanimpactonfuturefinancialstatements:

Effective date, commencing on or after

GRAP21 ImpairmentofNon-cash-generatingAssets notyeteffectiveGRAP23 RevenuefromNon-exchangeTransactions(TaxesandTransfers) notyeteffectiveGRAP24 PresentationofBudgetInformationinFinancialStatements notyeteffectiveGRAP25 EmployeeBenefits notyeteffectiveGRAP26 ImpairmentofCash-generatingAssets notyeteffectiveGRAP104 FinancialInstruments notyeteffective

AnentityshallapplyStandardsofGRAPforannualfinancialstatementscoveringperiodsbeginningonorafteradatetobedeterminedbytheMinisterofFinanceinaregulationtobepublishedinaccordancewithsection91(1)(b)ofthePFMA.

GRAP21,23,24and26havebeenusedtoformulateaccountingpoliciesorinormpresentationanddisclosure.

TheSETAhasnotyetassessedtheimpactofadoptingGRAP25and104.

21 IMPLEMENTATIONOFGRAPSTANDARDS

During the year theBANKSETAchanged its policy for themeasurement of assets acquired through a non-exchangetransaction,i.e.fornoconsideration.Previouslysuchassetsweremeasuredatzerocost.Currentlytheasset’scostisitsfairvalueasatthedateoftheacquisition.ThechangewasmadeastocomplywithGRAP17.22andhasbeenappliedretrospectively.

Thecomparativeamountshavebeenappropriatelyrestated.Theeffectofthischangeinaccountingpolicyisasfollows:

2008/09 R’000

IncreaseinopeningcostpriceofPPE 42IncreaseinopeningaccumulateddepreciationPPE (34)Decreaseinopeningaccumulatedsurplus 8

Increaseindepreciation 4Decreaseinsurplus 4


22 CRITICALACCOUNTINGJUDGEMENTSANDKEYSOURCESOFESTIMATIONUNCERTAINTY

In theapplicationof theSETA’saccountingpoliciesmanagement is required tomake judgements,estimatesandassumptionsaboutthecarryingamountsofassetsandliabilitiesthatarenotreadilyapparentfromothersources.Theestimatesandassociatedassumptionsarebasedonhistoricalexperienceandotherfactorsthatareconsideredtoberelevant.Actualresultsmaydifferfromtheseestimates.

Theestimatesandunderlyingassumptionsarereviewedonanongoingbasis.Revisionstoaccountingestimatesarerecognisedintheperiodinwhichtheestimateisrevisediftherevisionaffectsonlythatperiod,orintheperiodoftherevisionandfutureperiodsiftherevisionaffectsbothcurrentandfutureperiods.

TheSETAhas reviewed the residualvaluesused for thepurposesofdepreciationcalculations in lightof theamendeddefinition of residual value. The reviewdid not highlight any requirement for an adjustment to theresidualvaluesusedinthecurrentorpriorperiods.Residualvaluesarereviewedannually.

23 RELATEDPARTYTRANSACTIONS

Transactions with entities under common controlTheSETAwascontrolledby theDepartmentofLabour, for theperiodupuntil 31October2009,andsince1November2009bytheDepartment.Thedepartmentswerecontrolled,respectivelybytheMinisterofLabourandMinisterofHigherEducationandTraining.

ByvirtueofthefactthatBANKSETAisaNationalPublicEntityrelatedtootherentitiesanddepartmentsintheNationalsphereofgovernmentitisconsideredrelatedtoTelkom,Eskom,SouthAfricanAirways,otherSETAsandtheNationalSkillsFund.Thetransactionsareconsistentwithnormaloperatingrelationshipsbetweentheentitiesandareundertakenontermsandconditionsthatarenormalforsuchtransactions.WherethereweretransactionsandbalancesarisingduetothemovementoffundsbetweenentitiesunderthecommoncontroloftheDepartment,theseamountsweredisclosedbelow:

IntersetatransactionsandbalancesariseduetothemovementofemployersfromoneSETAtoanother.


Grow

ingForward|7 A


ents

23 RELATEDPARTYTRANSACTIONS(Continued)

Thebalancesatyear-endincludedinreceivablesandpayablesare:

2009/10 2008/09R’000 R’000

NoteAmount of the

transaction

Amount receivable/

payableAmount of the

transaction

Amount receivable/

payableReceivables 9 883 404 256 106 FASSET 64 - 78 36SERVICES 726 360 178 70ISETT 44 44 - -CETA 49 - - -

Payables 12 112 4 51 6 FASSET 39 1 30 1 INSETA 18 3 - -AGRISETA 55 - - -W&RSETA - - 17 1 FOODBEV - - 4 4

Total 771 400 205 100

*NotethatrelatingtoSETAtransferthattheamountofthetransaction,whereapplicable,includesinterestandpenaltiestransferredtoorfromtheSETA.

Remuneration of key managementThe keymanagement personnel (as defined by IPSAS20,RelatedPartyDisclosures) of BANKSETA is: themembersoftheaccountingauthorityandthemembersoftheseniormanagementgroup.

Theaccountingauthorityconsistsofmembersappointedintermsofitsconstitution.Thechiefexecutiveofficerattendsmeetingsoftheaccountingauthoritybutisnotamemberoftheaccountingauthority.Theaggregateremunerationofmembersoftheaccountingauthorityandthenumberofmembersreceivingremunerationwithinthiscategoryare:

2009/10 2008/09R’000 R’000

Aggregateremuneration 59 59

Numberofpersons 13 12


23 RELATEDPARTYTRANSACTIONS(Continued)

Theseniormanagementgroupconsistsof theSETA’schiefexecutiveofficer.Theaggregate remunerationofmembers of the seniormanagement group and the number ofmanagers receiving remunerationwithin thiscategoryare:

2009/10 2008/9R’000 R’000

Aggregateremuneration 1876 1329

Numberofpersons 1 1

RefertothereportbytheAccountingAuthorityfordetaildisclosureconcerningtheemolumentsofmembersoftheaccountingauthorityandtheChiefExecutiveOfficer.

24 TRANSACTIONSWITHSTAKEHOLDERSREPRESENTEDONTHEACCOUNTINGAUTHORITY

BANKSETAhas,inthenormalcourseofitsoperations,enteredintocertaintransactionswithentitieswhichhadanominatedrepresentativeservingonBANKSETA’saccountingauthority.

2009/10 2008/09R’000 R’000

Related party

Nature of relationship

Transaction type

Amount of the

transaction

Amount receivable/ (payable)

Amount of the

transaction

Amount receivable/ (payable)

ReceivablesABSALetsema RRamabulana

(Authoritymember)LETSEMAProject 8816 - 23582 -

NedbankLetsema SZinn(Authoritymember)

LETSEMAProject 849 - 302 302

PayablesAfricanBank NNaicker

(Authoritymember)DiscretionaryGrant 2 112 - - -

SARB JJeftha(Authoritymember)

DiscretionaryGrant 783 - - -

ABSALetsema RRamabulana(Authoritymember)

LetsemaProject 8816 - 1300 -

FirstRandBank FHugo/GFipaza(Authoritymembers)

DiscretionaryGrant 9392 - 1 221 (1225)

MicroFinanceSouthAfrica

HFerreira(Authoritymember)


ABSA RRamabulana(Authoritymember)


Nedbank SZinn(Authoritymember)

DiscretionaryGrant 6113 - 996 -

StandardBank SNgidi(Authoritymember)

DiscretionaryGrant 5908 - 442 -

Theabovetransactionsoccurredundertermsthatwerenolessfavourablethanthoseavailableinsimilararm’slengthdealings.


Grow

ingForward|7 A


ents

25 INTERSETASUMMIT

InterSETAandrelatedpartytransactionsandbalancesaroseduetotheinterSETAsummitheldduringtheyearandadministeredbyBANKSETAonbehalf20SETAs.TheInterSETAsummitwasheldtodiscussthenewSETAlandscapebeyond31March2010.

Receivedduring the year

R'000

Percentage Contribution Payable

R'000BANKSETA 200 8.53% 20 FoodBevSETA 40 1.71% 4Deloitte 200 8.53% 20 FIETA 100 4.27% 10 MQA 200 8.53% 20 W&RSETA 200 8.53% 20 ESeta 50 2.13% 5ETDPSETA 100 4.27% 10 MerSETA 200 8.53% 20 CHIETA 140 5.97% 14H&WSETA 40 1.71% 4TETA 124 5.29% 12 CTFLSETA 144 6.14% 14CETA 40 1.71% 4FASSET 40 1.71% 4AGRISETA 22 0.94% 2 THETA 100 4.27% 10 LGSETA 24 1.02% 2 SASSETA 100 4.27% 10 MAPPSETA 40 1.71% 4ServicesSETA 240 10.24% 24Publicdelegates 243

2 587 100.00% 236

26 NOTESTOCOMPARISONOFBUDGETANDACTUAL

Legislation requires that theSETAannually, inSeptember submit abudget to theMinister for approval.AnysubsequentchangesrequiredtotheinitialbudgetareapprovedbytheManagementBoardonrecommendationoftheFinanceCommittee.

26.1 Skills Development Levy: Income from non-exchange transactions:Thelevyreceiptforthecurrentyearwas7%morethanthebudgetfortheyear.Thebudget informationwascalculatedusingaconservativeapproachduetotheworldwideeconomiccrises.

26.2 Skills Development Levy: penalties and interest from non-exchange transactions:Incomefrompenaltiesandinterestarisewhenemployersfailtosubmittheirreturnsasrequiredbylegislation.Theseamountstypicallyvarysignificantlyyearonyear.Thefullbalanceismadeavailableforprojects.

26.3 Investment IncomeInvestmentincomewasslightlymorethanwhatwasbudgetedfor.


26.4 Employer grant and project expenditureTheapprovedfinalbudgetonlyincludestheestimatedmandatorygrantspendingofthecurrentfinancialyear.Theoverexpenditurerelatedtoincreasedprojectexpenditure,utilisingprioryearreserves.ThisoverexpenditureisacceptablepracticewithintheSETAenvironmentgiventhemultiyearnatureofmanyprojects.

26.5 Administration expenditureAdministrationexpenditureislimitedto10%ofleviesreceived.Thelegislationlimithasnotbeenexceededandthesavingswillbeutilisedtofundsectorskillspriorities,throughvariousprojects.

Annexures

page 79 - 97

AnnexureA:CouncilMembersandCommitteeAttendance 80

AnnexureB:HumanResources 82

AnnexureC:RegisteredandDe-RegisteredLearnerships 84

AnnexureD:BANKSETANSDS2009/10Achievements 86

AnnexureE:DiscretionarySectorProjects 91

Acronyms 97

80 | ANNEXURES

AnnexuresAnnexureA

COUNCIL MEMBERS’ ATTENDANCE (1 April 2009 – 31 March 2010)

Council Member

ConstituencyNumber of meetings attended

20 May2009

21 July 2009

16 Sept2009

25 Nov2009

27 Jan2010

17 Mar2010

SiphoNgidi

SBSA6

√Chairperson

√ √ √√

Member√

EugeneEbersohn

SASBO5

√Deputy

Chairperson√ √

√Became

ChairpersonApologies √

IsaacRamputa

SASBO6 √ √ √ √ √ √

HennieFerreira

MFSA4 √ Apologies √ √ Apologies √

JoeKokela

SASBO2 Apologies Apologies Apologies Apologies √ √

RonaldRamabulana

ABSA

5 √ √ √

ApologiesBecameDeputy

Chairperson

√ √

JennyJeftha

SARB4 √ Apologies Apologies √ √ √

EugeneZeeman

IBSA4 √ Apologies √ Apologies √ √

ShirleyZinn

Nedbank3 √ Apologies Apologies Apologies √ √

FrancoisHugo

FirstRand1 √ Resigned

SifisoMthembu

FirstRand2 Notyetappointed

√Joined

√ Resigned

GcobaniFipaza

FirstRand1 Notyetappointed

√Joined

Apologies

VanessaHattingh

SASBO4 √ √ Apologies √ √ Apologies

BenVenter

SASBO5 √ √ √ √ √ Apologies

NitashaNaicker

AfricanBank2 Notyetappointed

√Joined

√ Apologies


Grow

ingForward|8 A

nnexures and A

cronym

s

COMMITTEE MEMBERS’ ATTENDANCE (1 April 2009 – 31 March 2010)

Committee Member

ConstituencyNumber of

meetings attended13 May

200915 July 2009

4 Nov 2009

3 Mar 2010

AuditCommittee

HennieFerreira

MFSA2

√Chairperson

Apologies√

Resigned

NitashaNaicker

AfricanBank2 Notyetappointed √

√Chairperson

LeelaRamdhani

Nedbank2 √

√ActingChairperson

Resigned

MarlevdWalt

ABSA3 √ √ Apologies √


Committee Member

ConstituencyNumber of meetings attended

13 May 2009

15 July 2009

2 Sept 2009

4 Nov 2009

20 Jan 2010

3 Mar 2010

FinanceCommittee

EugeneEbersohn

SASBO1

√Chairperson

Resigned

VanessaHattingh

SASBO5

√Chairperson

√ √ √ √

BuksLottering

SARB2 √ Apologies Apologies √ Resigned

PaulMogotsi

Nedbank5 √ √ √ Apologies √ √

SamanthaAnthony

SASBO4 Apologies √ √ √ √ Apologies


Committee Member

ConstituencyNumber of

meetings attended04 Nov 2009 03 Mar 2010 12 Mar 2010

Remuneration Committee

BenVenter

SASBO 3 √ √ √

EugeneZeeman

IBSA 3 √ √ √

RonaldRamabulana

ABSA 0 Apologies Apologies Apologies

GcobaniFipaza

FirstRand 1 Notyetappointed Apologies √

SifisoMthembu

FirstRand 1 √ Resigned

82 | ANNEXURES

AnnexureB:HumanResourcesin2009/10

StaffProfileandEmploymentEquityasat31March2010

Staff member PositionFemale Male

Appointments ExitsA C I W A C I W

MaxMakhubalo CEO √ 01Apr2007

PreciousSikhosana PAtoCEO √ 01Oct2008

ChristineFritz CorporateServicesManager

√ 01Aug2001

CarolineKing ProvincialLiaisonSpecialist

√ 02Feb2004

MaryBaloyi CorporateServicesSpecialistFinance

√ 05May2008

DineoMabena CorporateServicesAdministrator

√ 01Oct2005 09Oct2009

RosemaryMagamba CorporateServicesAdministrator

√ 15Mar2010

PaulinaShai Receptionist √ 01Mar2010

KarenHobbs ETQAManager √ 01Sep2008

JoletteLeRoux ETQASpecialist √ 15Dec2008

CharmaineJanisch ETQASpecialist √ 05Jan2009

KgomotsoKhoale ETQAAdministrator √ 17Aug2009

PauletteBourne LearningProgrammesManager

√ 01Jan2006

DeeraniNaidoo LearningProgrammesSpecialist

√ 09Feb2007

NobuzweMangcu LearningProgrammesSpecialist

√ 01Mar2009

EvaTabaneRatema LearningProgrammesAdministrator

√ 22Feb2005 05Feb2010

NyekoMayimela LearningProgrammesAdministrator

√ 01Mar2010

TrevorRammitlwa SkillsDevelopmentManager

√ 01Aug2000

SipheloNgcwangu HeadofResearch √ 05May2008


Grow

ingForward|8 A

nnexures and A

cronym

s

Staff member PositionFemale Male

Appointments ExitsA C I W A C I W

AyandaMaki SkillsDevelopmentSpecialist

√ 03Dec2007

SharissaNaicker SkillsDevelopmentSpecialist

√ 22Jan2007

SharonMokgwatlheng SMESpecialist √ 01Feb2007

MabellyneLenyai SkillsDevelopmentAdministrator

√ 01May2009

LynetteMentor DevelopmentProgrammesManager

√ 02Dec2005

AumaNnane DevelopmentProgrammeSpecialist

√ 15Aug2005

MadeleinePelzer DevelopmentProgrammeSpecialist

√ 2Feb2009

MirriamChauke DevelopmentProgrammeAdministrator

√ 01Aug2004

DimakatsoSeete HumanResourcesManager

√ 01Oct2008

SilindileBulunga HumanResourcesAdministrator

√ 15Jun2009

ThelmaBaloyi Housekeeper √ 01Apr2009

PortiaKekana Housekeeper √ 01Apr2009

KaaminiReddy Marketing&CommunicationsManager

√ 01Nov2006

BusisiweLubisi Marketing&CommunicationsSpecialist

√ 07Feb2005 26Feb2010

ThamsanqaMalinga Marketing&CommunicationsSpecialist

√ 01Sep2008 28May2009

IsabeldeNecker Marketing&CommunicationsSpecialist

√ 01Sep2009

84 | ANNEXURES

AnnexureC:RegisteredandDe-registeredLearnerships

REGISTERED LEARNERSHIPS AS AT 10 JUNE 2009

Registration number NQF level Title

1 02Q020021241263 3 AssetBasedFinanceAdministrationLearnershipLevel3

2 02Q020008291204 4 AssetBasedFinanceLearnershipLevel4

3 02Q020026171565 5 AssetProtectioninBankingLearnershipLevel5

4 02Q020042003606 6 BachelorinManagementLeadershipLearnershipLevel6

5 02Q020025181545 5 BankingManagementLearnershipLevel5

6 02Q020018001205 5 BusinessAnalysisLearnershipLevel5

7 02Q020014001205 5 CertificateinManagementLeadershipLearnershipLevel5

8 02Q020017151354 4 CentralBankingSecurityLearnershipLevel4

9 02Q020037181585 5 CertificateinBanking:RiskManagementLearnershipLevel5

10 02Q020038001205 5 ChangeManagementLearnershipLevel5

11 02Q020027291685 5 CorporateAssetBasedFinanceLearnershipLevel5

12 02Q020010002405 5 CreditLearnershipLevel5

13 02Q020029201315 5 CustomerServiceRepresentativeLearnershipLevel5

14 02Q020040002405 5 DiplomainBusinessAnalysisLearnershipLevel5

15 02Q020031002405 5 DiplomainManagementandLeadershipLearnershipLevel5

16 02Q020041002405 5 DiplomainOperationsandProductivityManagementLearnership

17 02Q020033001205 5 FleetManagementLearnershipLevel5

18 02Q020019001205 5 HRBenefitsinBankingConsultingLearnershipLevel5

19 02Q020032002405 5 HumanResourceinBankingLearnershipLevel5

20 02Q020004001805 5 InformationTechnologyinBusinessLevel5

21 02Q020011001206 6 InternalAuditTechnicianLearnershipLevel6

22 02Q020022231204 4 IntroductiontoMicrofinanceSupervisionandManagementLearnershipLevel4

23 02Q020035391285 5 InvestmentAdministrationLearnershipLevel5

24 02Q020023001205 5 LegalRecoveriesServicesLevel5

25 02Q020016001206 6 ManagementDevelopmentLearnershipLevel6

26 02Q020012301203 3 MicroLendingFrontLineServiceLearnershipLevel3

27 02Q020015001205 5 NationalCertificateinBankingServicesAdviceLevel5

28 02Q020043271234 4 NationalCertificate:ServiceExecellenceatPersonalandBusinessBankingLevel4


Grow

ingForward|8 A

nnexures and A

cronym

s

REGISTERED LEARNERSHIPS AS AT 10 JUNE 2009


29 02Q020034001205 5 OperationsandProductivityManagementLearnershipLevel5

30 02Q020039001205 5 ProjectManagementLearnershipLevel5

31 02Q020028231395 5 RelationshipManagerLearnershipLevel5

32 02Q020013241554 4 RetailForeignExchangeBankingLearnershipLevel4

33 02Q020024001205 5 RiskManagementLearnershipLevel5

34 02Q020036182015 5 SalesandRelationshipManagementLevel5

35 02Q020030001205 5 SmallBusinessServicesLearnershipLevel5

36 02Q020007001205 4 TreasuryLearnershipProgrammeLevel5

37 02Q020052231404 4 NationalCertificate:Banking:CreditAnalysis,Level4

38 02Q020055241404 4 NationalCertificate:Banking:CreditandRiskAnalysis,Level4

39 02Q020048411203 3 NationalCertificate:Banking:FinancialServices:Insurance(FAISFitandProper)Level3

40 02Q020051271205 5 NationalCertificate:Banking:TreasuryandGlobalMarkets,Level5

41 02Q020044001205 5 Certificate:BankCreditLevel5

42 02Q020054251203 3 NationalCertificate:MicrofinanceLevel3

43 02Q020046081216 6 NationalCertificate:FinancialMarketsandInstrumentsLevel6

44 02Q020050001205 5 CertificateManagementDevelopmentLearnershipLevel5

45 02Q020053321204 4 EssentialSkillsforBankingLevel4

46 02Q020047001205 5 CertificateinFinancialPlanningLevel5

47 02Q020045002405 5 Diploma:AdvancedBusinessManagementLevel5

DE - REGISTERED LEARNERSHIPS


1 02Q020020181474 4 AssetProtectioninBankingLevel4

2 02Q020005141814 4 RetailBanking-CreditLevel4

3 02Q020002481203 3 EntryLevelBankingLearnershipLevel3

4 02Q020009001205 5 FinancialServicesCo-operativesBankingLearnershipLevel5

86 | ANNEXURES

AnnexureD:B

ANKSETA

NSDS200

9/10

achievements

Suc

cess

Ind

icat

or

No

.

Rep

ort

ing

in

form

atio

n re

qui

red

SE

TA S

LA

targ

et f

or

2009

/10

Ach

ieve

men

ts

for

the

year

(Cum

ulat

ivel

y)A

chie

vem

ents

%E

xpla

nati

on

for

vari

ance

1.2

Num

berofSDForSector

Specialistswhocarryoutskills

developm

entfacilitationinthe

sectortrainedintheuseofthe

guidefortheyear

200

271

135.50

ThepartnershipwithKZN

DoE

allowedBANKSETA

toreach

moredelegatesthananticipated

2.1

Num

beroflargefirmsthat

receivedW

SP/ATR

grantsfor

the20

09/10financialyear

101

8584

.16

Manyofthesubsidiarycom

panies,w

hichwerecountedasper

theSLA

withtheDepartm

entarenolongerpayingleviesand

thereforecannotreceivelevies.

Num

berofmedium-sizedfirm

sthatreceivedW

SP/ATR

grants

for20

09/10financialyear

2623

88.46

Som

esubsidiariesofthesecompaniesnolongerpaylevies;also

therewerequeriesoutstandinginsom

eoftheWSPrepo

rtsat

thetim

eofthisrepo

rt

2.2

Num

berofsmalllevypaying

firmssupp

ortedbySETA

sfor

2009/10financialyear

192

244

127.08

OverandabovetheWSPrepo

rtingsupp

ortB

ANKSETA

offered

SMEsothersupp

ortthroughworkshops/roadshows

2.5

Num

berofsmallB

EE

firmssupp

ortedbyskills

developm

ent

1013

130.00

Num

berofsmallB

EE

coop

erativessuppo

rtedby

skillsdevelop

ment

56

120.

00

2.7

Num

berofworkersthathave

registeredABETLevel1

1019

190.

00Dueto

increasedmarketingoftheABETprogrammemore

learnersparticipatedintheproject

Num



1045

450.00

Dueto



Num



1096

960.

00Dueto



Num



2083

415.00

Dueto




Grow

ingForward|8 A

nnexures and A

cronym

s

Suc

cess

Ind

icat

or

No

.

Rep

ort

ing

in

form

atio

n re

qui

red

SE

TA S

LA

targ

et f

or

2009

/10

Ach

ieve

men

ts

for

the

year

(Cum

ulat

ivel

y)A

chie

vem

ents

%E

xpla

nati

on

for

vari

ance

Num


achievedABETLevel1

738

542.86

Dueto

increasedenrolmentsandlowdropoutratemore

learnerscom

pletedthisABETlevel

Num


achievedABETLevel2

793

1328

.57

Dueto


learnerscom

pletedthisABETlevel

Num


achievedABETLevel3

714

120

14.29

Dueto


learnerscom

pletedthisABETlevel

Num


achievedABETLevel4

1494

671.43

Dueto


learnerscom

pletedthisABETlevel

2.8

Totalnum

berofworkers

thathaveenteredlearning

programmes

1000

3067

306.70

Workersenteredlearnerships

200

599

299.50

TheBANKSETA

spo

nsoredemployedlearnershipsfor

implem

entationbyregisteredparticipatingem

ployersinthe

bankingsector.Theinitialfundingthatwasring-fencedor

allocatedtothisprojectwasR4000000.00eachatacost

ofR15

000

perlearner.Afterbroaderconsultationwiththe

sector,theBANKSETA

implem

entedarevisedgrantallocated

pricingscheduleto

incentivisethesectorto

implem

entm

ore

learnerships,giventheimpactoftherecession(wheretraining

budg

etsarethefirstto

becut).18.1learnershipsspo

nsoredby

theBANKSETA

amountedto

410employedlearnerssuppo

rted

onalearnership.

Workersreceivedbursaries

00

0.00

Workersenteredunitstandard-

basedskillsprogram

mes

800

2468

308.50

Dueto

thecompliance‘Fit&Proper’requirementsagainstthe

FAISAct,thebanksandtrainingproviderssubmittedalllearners

whohadpreviouslyenteredcreditbearingskillsprogram

mes

Totalnum

berofworkerswho

havecom

pletedlearning

programmes

500

3752

750.40

Workerssuccessfully

completedlearnerships

100

316

316.00

Theincreasedrateoflearnerscompletingisbasedon

learnershipgrantfundingfrom

thepreviousfinancialyear.ETQ

A

qualityassuranceandverificationsupp

ort,ensuredthatlearners

receivedtheircertificates

88 | ANNEXURES

Suc

cess

Ind

icat

or

No

.

Rep

ort

ing

in

form

atio

n re

qui

red

SE

TA S

LA

targ

et f

or

2009

/10

Ach

ieve

men

ts

for

the

year

(Cum

ulat

ivel

y)A

chie

vem

ents

%E

xpla

nati

on

for

vari

ance

Workerssuccessfully

completedunitstandard-

basedskillsprogram

mes

400

3327

831.75

Dueto

thecompliance‘Fit&Proper’requirementsagainstthe

FAISAct,theBanksandtrainingproviderssubmittedalllearners

whohadpreviouslycompletedcreditb

earingskillsprogram

mes

3.2

Totalnum

berofNLP

Es,NGOs,

CBOsandCBCssupp

ortedby

skillsdevelop

ment

125

208

166.40

Targetnum

berofNLP

Esin

thesectorto

receiveskills

developm

entsuppo

rt

125

208

166.40

BANKSETA’sdrivetoattractNLP

Ecom

paniesto

participate

inskillsdevelop

mentw

assuccessfulandthetargetedwas

exceeded

4.1

Totalnum

berofunemployed

peop

lewhohaveentered

learningprogram

mes

1140

1542

135.26

Unemployedpeopleentered

learnerships

1100

1540

140.00

TheBANKSETA

spo

nsored1000learnersonapo

st-m

atric

learnership(calledLE

TSEMA)and200learnersonapo

st-

graduatelearnership(calledKUYA

SA);hostemployerswere

onlyrequiredtohostthelearners.Inconjunctionwiththese

interventions,theBANKSETA

alsomadegrant-fundingwindo

ws

availabletoemployers,to

suppo

rtunemployedlearners

onlearnerships.Theinitialfundingthatwasring-fencedor

allocatedtothisprojectwasR4000000.00eachatacost

ofR15

000

perlearner.Afterbroaderconsultationwiththe

sector,theBANKSETA

implem

entedarevisedgrantallocated

pricingscheduleto

incentivisethesectorto

implem

entm

ore

learnerships,giventheimpactoftherecession(wheretraining

budg

etsarethefirstto

becut).18.2learnershipsspo

nsored

bytheBANKSETA

amountedto

275unemployedlearners

supp

ortedonalearnership.

Unemployedpeoplereceived

bursaries

00

0.00


Grow

ingForward|8 A

nnexures and A

cronym

s

Suc

cess

Ind

icat

or

No

.

Rep

ort

ing

in

form

atio

n re

qui

red

SE

TA S

LA

targ

et f

or

2009

/10

Ach

ieve

men

ts

for

the

year

(Cum

ulat

ivel

y)A

chie

vem

ents

%E

xpla

nati

on

for

vari

ance


internships

200

0.00

Theuptakeforinternshipswasextremelylow-eventhough

BANKSETA

openedaspecificfundingwindo

winsuppo

rtof

internships.Thestrictd

efinitionofinternships,whereworkplace

experienceisessentialbeforeadegreeordiplom

aisconferred,

doesnotapp

lyinthebroaderbankingandfinancialservices

sector;thesectorisnotgovernedbyaprofessionalbod

ythat

willhaveoversightintointernshipsdesignedforentrylevel

banking.Theconverseistrueforsuchprofessionalsectorsas

engineering,accountantsandactuarieswhereinternshipsare

criticaltothetransferofskillsneededpriortohavingadegree/

diplom

aconferred.


unitstandard-basedskills

programmes

202

10.0

0

Totalnum

berofunemployed

peop

lewhohavecompleted

learningprogram

mes

570

1006

176.49

Unemployedpeople

successfullycom

pleted

learnerships

550

891

162.

00Thisincreasedrateoflearnerscompleting,isbasedon

learnershipgrantfundingfrom

thepreviousfinancialyear.ETQ

A

qualityassuranceandverificationsupp

ortensuredthatlearners

receivedtheircertificates.

Unemployedpeople

successfullycom

pleted

bursarystudies

00

0.00

Unemployedpeople

successfullycom

pleted

internships

100

0.00

Theuptakeforinternshipswasextremelylow-eventhough

BANKSETA

openedspecificfundingwindo

winsuppo

rtof

internshipsinpriorfinancialperiods.

Unemployedpeople

successfullycom

pleted

unitstandard-basedskills

programmes

1015

150.00

90 | ANNEXURES

Suc

cess

Ind

icat

or

No

.

Rep

ort

ing

in

form

atio

n re

qui

red

SE

TA S

LA

targ

et f

or

2009

/10

Ach

ieve

men

ts

for

the

year

(Cum

ulat

ivel

y)A

chie

vem

ents

%E

xpla

nati

on

for

vari

ance

4.2

Num

beroflearnersassistedto

gainworkexperience

100

115

115.00

ThisisthefirsttimethattheBANKSETA

hasim

plem

enteda

Work-basedexperiencegrant.Awarenesswithinthesectorstill

needstobebuiltinorderto

increasetheparticipationrates.

Num

berofstudents/

graduateswhofindplacement

inemploymento

rself-

employment

7013

619

4.29

Thelearnerssuppo

rtedbyBANKSETA

intheCIDABursaries

Program

me(190learners)aswellastheThusananiintakeII

(100

)learners,yieldedtheseresults.Thedisappo

intingresults

fromlearnerswhodidnotperform

wellintheCIDAbursary

prog

ramme(thereisalistoflearnerswhoneedtorepeat

subjects),isthereasonthatthepercentageofcom

pletions

couldhavebeenmuchhigher.

4.3

Num

berofyoungpersons

trainedandmentoredtoform

newventures

2037

185.00

Economiesofscaleensuredthatwewereableto

achievemore

NVClearnersthanexpectedforthefundingam

ount--addedto

thisfactfewerstartersdrop

pedoutthanexpected.

Num

berofnew

venturesthat

areinoperation12months

aftercompletionofprogram

me

1420

142.86

Coachingandmentoringthroughoutthe12monthsensured

thatmoreofthenewbusinessesthananticipatedwere

maintained

5.1

Num

berofInstitutesof

SectoralorOccupational

Excellencerecognisedand

supp

ortedbySETA

25

250.00

5.2

Num

berofInstitutions

accreditedtomanagedelivery

ofnew

venturecreation

qualification

12

200.

00Economiesofscaleensuredthatwewereableto

doubleupon

thetrainingfortheFE

Ts


Grow

ingForward|8 A

nnexures and A

cronym

s

AnnexureE:D

iscretionarySectorProjectsof200

9/10

Pro

ject

N

umb

erP

roje

ct

Nam

eO

bje

ctiv

eR

FP

Num

ber

Pro

ject

B

udg

etR

'000

Sta

tus

420.4710.207000

Junior&MiddleMgt

DevProgram

me

Tofundtheresearch,design,develop

mentandim

plem

entationofajunior

&middlemanagem

entd

evelop

mentp

rogram

me.

B-0001481\01\07

231620

Com

pleted

420.4710.238000

Introd

uctoryCourse

inIslamicBanking

Toresearchanddevelop

anintrod

uctoryCourseinIslamicbankinginorder

toorientateandinform

bothMuslim

andnon-M

uslim

staffinthebanks

sothattheycanprovidebasicinform

ationaboutIslamicbankingtotheir

clients.TheMuslim

Com

munityisin

creasinglysignificanteconom

ically

andthereareapproximatelyR4billioninfundsheldbyMuslim

clients.The

bankingsectorwishestocontinueto

develop

thissectorofthemarket.

B-0001244\01\08

1000

InProgress

420.4710.241000

FinancialEducation:

Translations&

Reproducing

Tofundthetranslationoffinancialliteracymaterials

B-0001831\01\08

250

Com

pleted

420.4710.245000

SMEBuildinga

BetterBusiness

2008/9and

2009

/10

Theoverallob

jectiveistoattractand

retainS

MEp

articipation.This

approachintegratedwithmandatoryskillsplanningandrepo

rtingwillfurther

increasethelevelofskillsandknowledg

ewithintheSMEenvironm

entof

thebankingsector.

B-0001900\01\09

1 90

0InProgress

420.4710.246000

QCTO

PilotP

roject

Thisprojectsuppo

rtsthesector’stransitionfromaSAQA-basedtoa

QCTO

-basedsystem.TheQCTO

systemissettobeim

plem

entedfrom

April20

09andw

illbefullyoperationalA

pril20

10.Thisprojectw

illfund

threecurriculaandqualificationforretailbanking,abaseforacentralised

assessmentp

latform

andablueprintforim

plem

entationinotherareas.

B-0001918\01\09

7450

InProgress

420.4710.248000

Thusanani

programme2008/9

ThefirstThusananiProjectstartedinNovem

ber200

7withanintakeof100

learners,whograduatedinJuly20

08.Thespecificaimsandob

jectives

ofthisprojectincludedrecruitm

entandselectionoflearnerstostarta

12weekworkreadinessprog

ramme.Theoutcomesofthisprogram

me

includedsoftskillstrainingpresentedbytheUniversityofJohannesburg

andworkexperienceandmentoringthroughouttheprogram

meoffered

byDeloitteConsulting.Theprog

rammeculminatedwithajobfairaimed

atintrod

ucingthelearnerstopotentialemployers.TheThusananiIIproject

involvedtherecruitm

entofasecondgroupof100

unemployedlearners

inAugust20

08,withthelearnersgraduatinginApril20

09.Thecostper

beneficiaryforthisinterventionwasR43

999

.95.

B-0001989\01\09

3900

InProgress

92 | ANNEXURES

Pro

ject

N

umb

erP

roje

ct

Nam

eO

bje

ctiv

eR

FP

Num

ber

Pro

ject

B

udg

etR

'000

Sta

tus

420.4710.249000

Mob

ileTraining

Solutions

TheaimofthisprojectistoprovideaninnovativesolutiontoreachSMEsin

ruralandoutlyingareasinSouthAfricabyofferingamechanism

todeliver

existingskillsprogram

mes,traininganddevelopm

enttoSMEemployees

inthebroaderbanking&mircofinancesector.

B-0001919\01\09

1 10

0InProgress

420.4710.251000

SMETraining

VoucherProject

2008/09and

2009

/10

Theoverallob

jectiveisto

retainandattractS

MEp

articipation;and

thisapp

roachintegratesw

ithm

andatorySkillsPlanningandrepo

rting

processestherbyfurtherincreasingthelevelofskillsandknowledg

ewithin

theSMEenvironm

entofthebankingsector.NSDStargetsadd

ressed

throughthisprojectinclude2.2,2.5,3.2and2.8.

B-0001924\01\09

5500

InProgress

420.4710.252000

CareerAwareness

2008/09and

2009

/10

Theaimofthisprojectistofundthedisseminationofacareerguideon

thevariouscareers(linkedtocriticalandscarceskills)intheBanking/

Microfinanceindustry.Thiseffortwillprom

otethebroaderindustryasan

employerofchoice.

B-0002043\01\09

2500

InProgress

420.4710.253000

ScarceSkills

Research

Theaimofthisprojectistofollow-uponcritical,scarceandfutureskills

researchalreadyconductedintheBankingandMicrofinanceSector.

B-0002044\01\09

1300

InProgress

420.4710.254000

Masters&Exec

ShortCourses

2009

Tofundthedevelopm

ento

fHDIcandidatestoaccessMastersdegrees&

otherE

xecutiveShortCourses.FundingisspecifictolocalHETinstitutions

onaper-annum

dem

andbasis.

B-0002048\01\09

6300

InProgress

420.4710.258000

ABETSuppo

rt

2008/09and

2009

/10

Thisprojectw

illprovideABET(AdultBasicEducationandTraining)to

employeesinthebankingsector.Toassistem

ployeeswithinthesector

thathavelessthanaGrade9educationtoupskillthem

selvestoanNQF

level1Qualification.

B-0002046\01\09

1150

InProgress

420.4710.259000

CIDABursaries

(unemployed)

Thepurposeofthisprojectistoprovideabursaryfor19

0studentsfrom

HDIgroupstoattendthe2ndyearofa4yearprog

rammeattheC.I.D.A

FoundationsCollege.

B-0001992\01\09

1500

InProgress


Grow

ingForward|8 A

nnexures and A

cronym

s

Pro

ject

N

umb

erP

roje

ct

Nam

eO

bje

ctiv

eR

FP

Num

ber

Pro

ject

B

udg

etR

'000

Sta

tus

420.4710.262000

Kuyasa2009

Theaimofthisprojectistofundtheparticipationoflearnersinthe

PostGraduateLearnershipforunem

ployedyouthaswellastoafford

thesuccessfulapp

licantstheopp

ortunitytogainpracticalskillsw

ithin

participatinghostorganisations.Thisprojectisinlinewithandcontributes

toGovernm

ent’soverallaimtoalleviate

povertyand

toreducethe

unem

ploymentrateby50

%by20

14.ItaddressesspecificallytheNSDS

targetsofassistingunem

ploymentyouthintotheformallabourmarket

(indicator4.1).Thespecificsectorobjectivesaretouselearnershipsas

oneofthevehiclesto

enabletransformationwithinthesector.

B-0001993\01\09

11904

InProgress

420.4710.269000

Studyto

accommodatethe

deafintheworkplace

Toconductastudyonaccommod

atingtheDeafinthew

orkplaceand

sharebestpracticewiththeBankingandMicrofinancesector.

B-0002026\01\09

300

InProgress

420.4710.270000

Centresof

Excellence:NW

University

Theaimofthsprojectistofundtheestablishm

entofSouthAfricanCentres

ofExcellenceforthebroaderbankingsector.

B-0002219\01\09

5250

InProgress

420.4710.271000

SMELifelong

Learning

Workshops

2008/09&2009/10

Theob

jectiveoftheseinitiativesistobuildcapacityaswellastoenableand

supp

ortBANKSETA

registeredSMEsthroughthedeliveryofstructured

inform

ationsharingworkshopstopracticallyunderstandtheimpacton

smallbusinesses.

B-0002086\01\09

2400

InProgress

420.4710.273000

Doctoral&Post

DoctoralFunding

Tofund

Doctoraland

PostDoctoraltuitionatHET

institutionso

nce

researchpropo

salisaccepted.

B-0002059\01\09

1930

InProgress

420.4710.277000

BANKSETA

:ScarceSkills

Funding

Toprovidefullfundingtoemployersforlearnershipsforexistingem

ployees

ornew

entrantsinoneorm

oreofthefollowingareas:a)RiskManagem

ent,

b)IC

T,andc)R

elationshipManagem

entandd)TOPPProgram

me.

B-0002109\01\09

4000

InProgress

420.4710.278000

ICTBanking

Suppo

rtTechnician

Benchmarking

Toid

entifyinternationalm

odelsandskillsdevelop

mentbestpracticesin

theprod

uctionofICTskillsespeciallyin

scarceskillsareasid

entifiedin

SAbankingsector.Theprojectfindingswillprop

oseasolutiontowards

addressingICTscarceskillsinthebroaderBankingandM

icrofinance

sector.

B-0002110\01\09

2250

InProgress

420.4710.279000

SMESkillsDev

Toolkit

Toputinplaceatoolkitthatsuppo

rtstheskillsdevelop

mentandbusiness

perfo

rmanceimprovem

entofmicrofinanceinstitutionsespeciallyin

outlayingareas.

B-0002111\01\09

1500

InProgress

94 | ANNEXURES

Pro

ject

N

umb

erP

roje

ct

Nam

eO

bje

ctiv

eR

FP

Num

ber

Pro

ject

B

udg

etR

'000

Sta

tus

420.4710.281000

FAISPreparation

Thisprojectwillfundm

ainlythepreparationandplanningactivitiesofthe

FAISprojectforroll-outinthenextfinancialyear(asprovidedforinthe

2009/10BusinessPlanning).

B-0002139\01\09

400

Com

pleted

420.4710.284000

InterbankTraining

MaterialU

pdate

ThepurposeofthisprojectistofundtheupdateoftheBANKSETA

owned

TrainingM

aterialdeveloped

previouslythroughtheInterbankTraining

Materialdevelop

mentp

roject.

B-0002230\01\09

700

InProgress

420.4710.285000

HIV/AIDSTraining

Suppo

rtThe

funding

will

capacitateHIV/AIDSTraininginthe

banking

and

microfinancesector.

B-0002222\01\09

1400

InProgress

420.4710.287000

IEDPEurop

e2009

Tofu

ndthedevelop

mentof20seniorm

anagerstoassistwithpreparing

them

fortheexecutiverolesthattheywillenteroverthenext2-3years.

B-0002271\01\10

4014

Com

pleted

420.4710.288000

ProvincialStrategy

Implem

entation

Theaimofthisprojectistoprom

otetheBANKSETA

brandandindirect

perm

anentpresenceacrossSouthA

frica’snineprovincesinorderto

meettargetsstipulatedandsuppo

rtprovincialgrowthanddevelop

ment

strategies.

B-0002273\01\10

500

InProgress

420.4710.289000

PPPNew

Venture

CreationProvider

Theaimofthisprojectistofundthesupp

ortoffacilitatorsinFETsdelivering

NVCenterprisetraining.

B-0002274\01\10

500

Com

pleted

420.4710.290000

FAISSuppo

rt&

Implem

entation

FollowingFAISprojectpreparation,this2ndstageoftheprojectwillfund

theimplem

entationofthesolutiongeneratedinStage1.Theaimisto

assitthesectoremployerstocom

plywithFAISregulationsbythedeadline

dateof31/12

/200

9.

B-0002275\01\10

7100

InProgress

420.4710.291000

Co-op

erativeBank

Staffdevelopm

ent

Fundthesupp

orto

f14Co-op

banksbytrainingtheirstaff&shareholders

across3provinces.

B-0002276\01\10

850

Com

pleted

420.4710.292000

NVClearner

Program

me

Projectaimistofundnew

venturecreationlearnerstosetupandruntheir

ownbusinesses.

B-0002283\01\10

900

Com

pleted

420.4710.293000

DiscretionaryGrant

FundingWindo

w

2009

Thisprojectfundsthedem

and-drivenskillsdevelop

mentinitiativesthat

EmployersarenotabletoaccessthroughBANKSETA

fundedprojects.

B-0002259\01\10

1951

InProgress

420.4710.294000

Reasonable

Accom

odation

Strategies

Toconductastudyonreasonableaccom

mod

ationofdisabledpeop

lein

theworkplaceandsharebestp

racticewiththeBankingandMicrofinance

sector.

B-0002284\01\10

500

InProgress

420.4710.295000

Internships2009/10

Tofundtheimplem

entationofinternshipsinthesector

B-0002277\01\10

600

InProgress


Grow

ingForward|8 A

nnexures and A

cronym

s

Pro

ject

N

umb

erP

roje

ct

Nam

eO

bje

ctiv

eR

FP

Num

ber

Pro

ject

B

udg

etR

'000

Sta

tus

420.4710.296000

Letsem

aVII

learnership

Thepurposeofthisprojectistofundtheparticipationofm

atriculant

learnersinaFS

Bapp

rovedqualificationlinkedtoalearnership(itmay

followtheexitingLETS

EMAdeliverymethod).

B-0002278\01\10

27876

InProgress

420.4710.297000

18.2Niche

Learnerships

Theaimoftheprojectistofundunemployedlearnersinscareskillswithin

thebroaderBankingandMicrofinanceSector.

B-0002279\01\10

13185

InProgress

420.4710.298000

18.1Niche

Learnerships

Thisprojectaimstofundcurrentemployeesscareskillswithinthebroader

BankingandMicrofinanceSector.

B-0002285\01\10

11350

InProgress

420.4710.300000

KUYA

SA2009/10

Thepurposeofthisprojectistofundtheparticipationofpost-graduate

learnersinanFS

Bapp

rovedqualificationlinkedtoalearnership(itm

ay

followtheexitingKUYA

SAdeliverymethod).

B-0002281\01\10

14800

InProgress

420.4710.301000

Bridging

programmefor

learnerswith

disability

Tofundpeop

lewithdisabilitiesonabridgingprogram

metoallowthem

tom

eettheselectioncriteriaoftheBankingandM

icrofinancesectorfor

futurerecruitm

ent.

B-0002286\01\10

3000

InProgress

420.4710.302000

ScarceSkills

Funding

Todoananalysisanddeterm

inecompetenciesanddesiredoutcom

es

forthefollowingscarceskills:a)R

iskManagem

ent,b)ToP

Pandc)

SalesandRelationshipManagem

ent.Inadd

itiontheprojectw

illmake

recommendationstomeettherequirementsidentifiedthroughtheanalysis

andfundim

plem

entationoftherecommendations.

B-0002282\01\10

8400

InProgress

420.4710.303000

NationalPayment

System

ThisprojectwillfundtrainingontheNationalPaymentS

ystemforB

anking

andMicrofinanceStaff.

B-0002346\01\10

800

InProgress

420.4710.306000

Microfinance

Benchmarking

Thepurposeofth

isprojectisto

fundinternationalbenchmarkingonbest

practiceinmicrofinanceandskillsdevelop

mentinselectedandapp

roved

countries.

B-0002347\01\10

800

InProgress

420.4710.308000

Centreof

Excellence:

UniversityofFort

Hare

Theaimofthisprojectistoprovidefundingsuppo

rttotheFinancial

MarketsProgram

meofUniversityofFortH

arebyenhancingth

ecapacity

oftheEconomicsDepartm

entontheEastLondoncam

pusandgranting

bursariestostudentsonhonourslevelw

hichultimatelywillassistinthe

entryofcriticaleconomicsskillsinthebankingandmicro-financesector.

B-0002418\01\10

2725

InProgress

96 | ANNEXURES

Pro

ject

N

umb

erP

roje

ct

Nam

eO

bje

ctiv

eR

FP

Num

ber

Pro

ject

B

udg

etR

'000

Sta

tus

420.4710.309000

Work-readiness

Intervention

Theaimoftheprojectistoenableunemployedpost-matricandpost-

graduatelearnersbecome

more

employable.The

prog

ramme

will

incorporatesoftskillstraining,w

orkexperienceatvariousB

ANKSTA

registeredhostemployersandcoachingandmentoring.

B-0002417\01\10

3850

InProgress

420.4710.310000

Certificatein

Managem

ent

Develop

ment2

010

Tofundthedevelop

mentofJuniorandMiddleManagem

entcandidates.

Attheendofthisproject1

60candidateswouldhavebenefittedfro

mth

is

programmeasw

ellas75

JaM

Malumniw

how

illob

tainthefullM

ilpark

qualification.

B-0002394\01\10

400

InProgress

420.4710.311000

IEDPPlanning2010

Theaimofthispreparatorybudg

etisfo

rset-upcostsrelatedtorunning

twoInternationalExecutiveDevelop

mentProgram

mes(IEDP)nextyear

(2010).Thefundingwilentailsigningagreem

entstobuildthecapacityof2

localHETinstitutionsthatwillengagewith2overseasbusinessuniversities

toprovidethetailoredExecutiveDevelop

mento

fferings.

B-0002391\01\10

1800

Com

pleted

420.4710.312000

YouthPortal

Theaimoftheprojectistoenableunemployedpost-matricandpost-

graduatelearnersbecome

more

employable.The

funding

includes

thedevelopm

entofaYouthAlumniPortaltowhichallcurrentandpast

BANKSETA

beneficiariescan

participate

onissuesimpacting

career

developm

ento

fyouth.

B-0002475\01\10

1 00

0InProgress

420.4710.313000

FinancialLiteracy

Thepurposeofthisprojectistofundatrainingprogram

methatwilladvance

financialliteracyintheyouth,Coo

peratives,SMEsandcustom

ersofthe

selectedSMEs.

B-0002651\01\11

3000

InProgress

420.4710.314000

ASTD

Techknow

ledg

eConference2010

Togatherinformationandbenchm

arklatestworldtrendsinapp

licationof

multim

ediaandtechnolog

yplatform

sinlearningbyattendingtheASTD

Tech-knowledg

eInternationalC

onferenceinLasVegas,U

SA.

B-0002575\01\10

500

InProgress

420.4710.315000

InterSETA

Sum

mit

2009

Theaimofthesum

mitisto

providefundingsupp

ortandcollabo

ratewith

otherSETA

sinorderto

enhancetheSETA

brandandillustratethepo

wer

ofSETA

coo

rdinationintransformingSouthAfricaLearnnginthenextfive

years.

B-0002597\01\10

200

Com

pleted


Grow

ingForward|8 A

nnexures and A

cronym

s

Acronyms

ABET AdultBasicEducationandTraining

ASTD AmericanSocietyonTrainingandDevelopment

ATR AnnualTrainingReport

BANKSETA BankingSectorEducationandTrainingAuthority

BBBEE BroadBasedBlackEconomicEmpowerment

DHET DepartmentofHigherEducationandTraining

DoL DepartmentofLabour

ETQA EducationandTrainingQualityAssurance

FAIS FinancialAdvisoryandIntermediaryServicesAct

IEDP InternationalExecutiveDevelopmentProgramme

ICT InformationandCommunicationsTechnology

MFSA MicroFinanceSouthAfrica

NSDS NationalSkillsDevelopmentStrategy

PASA PaymentsAssociationofSouthAfrica

PFMA PublicFinanceManagementAct

QCTO QualityCouncilforTradesandOccupations

RPL RecognitionofPriorLearning

SLA ServiceLevelAgreement

SAQA SouthAfricanQualificationsAuthority

SAICA SouthAfricanInstituteofCharteredAccountants

SME SmallandMicroEnterprise

SDA SkillsDevelopmentAct

WSP WorkplaceSkillsPlan

BANKSETA

PhysicaladdressBANKSETAThornhillOfficeParkBlockNo.1594BekkerRoadMIDRAND1685

PostaladdressP.O.Box11678VORNAVALLEY1686

CallCentre 0861020002

Telephone 0118059661

Fax 0118058348

Website www.bankseta.org.za


higher education & trainingDepartment:Higher Education and Training

RP 97/2010ISBN 978-0-621-39425-2

Documents

BANKSETA ANNUAL REPORT 2009/10 - Home Page … · BANKSETA ANNUAL REPORT 2009/10 ... Auditor-General’s Report 31 ... of a global economic downturn that decimated jobs and placed