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Welcome 3 rd BANKSETA Annual General Meeting 23 September 2003

Welcome 3 rd BANKSETA Annual General Meeting 23 September 2003

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Welcome 3 rd BANKSETA Annual General Meeting 23 September 2003. BANKSETA Annual General Meeting 23 September 2003. Annual Financial Statements 2002/2003 Challenges Future Focus. Annual Financial Statements 2002/2003. Year 2002 2003 - PowerPoint PPT Presentation

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Page 1: Welcome  3 rd  BANKSETA  Annual General Meeting 23 September 2003

Welcome 3rd BANKSETA Annual General Meeting23 September 2003

Page 2: Welcome  3 rd  BANKSETA  Annual General Meeting 23 September 2003

BANKSETA Annual General Meeting

23 September 2003

1. Annual Financial Statements 2002/2003

2. Challenges

3. Future Focus

Page 3: Welcome  3 rd  BANKSETA  Annual General Meeting 23 September 2003

Annual Financial Statements 2002/2003

 Year 2002 2003

Income Total: R132,875m R171,632m

Operational income (10% allowed): R13,933m R16,160m

Interest earned: R3,305m R12,175m

Operational savings: R3,399m R3,985m

 

Page 4: Welcome  3 rd  BANKSETA  Annual General Meeting 23 September 2003

Annual Financial Statements 2002/2003 (Grants)

Year 2002 2003

Grants paid/payable: R106,74m R107,741m

Grants paid/payable %: 96% 97%

Project grants paid R3,84m R16,267m

NSF grant received 0 R78,m

Page 5: Welcome  3 rd  BANKSETA  Annual General Meeting 23 September 2003

Annual Financial Statements 2002/2003 ( Operations)

Year 2002 2003Operational income (10% allowed):

R13,933m R16,160mOperational expenses:

R10,534m R12,254m (7,6%) (7,6%)

% change Operational exp.: 27,6% 16,3%

Operational savings: R3,399m R3,985m (24,4%) (24,7%)

Interest earned: R3,305m R12,175m

Page 6: Welcome  3 rd  BANKSETA  Annual General Meeting 23 September 2003

GRANT DISBURSEMENTS

• Remains consistently high : +95% average

• Disbursement of over R100m (2003) to 273 companies

• Over R243m allocated over last three years

Page 7: Welcome  3 rd  BANKSETA  Annual General Meeting 23 September 2003

Audit of financial statements

 In my opinion, the financial statements fairly present, in all material respects, the financial position of the Banking Sector Education and Training Authority at 31 March 2003 and the results of its operations and cash flows for the year then ended in accordance with South African Statements of Generally Accepted Accounting Practice and in the manner required by the Public Finance Management Act, 1999 (Act No. 1 of 1999) as amended.

 N MANIK

for Auditor-General

Page 8: Welcome  3 rd  BANKSETA  Annual General Meeting 23 September 2003

Approval of 2002/2003

Annual Financial Statements of the Banking Sector Education

and Training Authority (BANKSETA)

Page 9: Welcome  3 rd  BANKSETA  Annual General Meeting 23 September 2003

Challenges

• Serving diverse needs from an increasing range of stakeholders

• Balancing Sector and national needs

• Expected changes to the seta landscape

• Skills Development Amendment Act

• Levy/grant machine as mechanism in the sector to create value and buy-in

• Future employment opportunities in sector: need for higher level skills and shedding of lower skills category jobs

Page 10: Welcome  3 rd  BANKSETA  Annual General Meeting 23 September 2003

BANKSETA Future Focus

• Transformation

• Legislative Compliance

• Advocacy

• Seta landscape

• Strategic projects

Page 11: Welcome  3 rd  BANKSETA  Annual General Meeting 23 September 2003

Questions ?