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Achievements against planned targets

Achievements against planned targets. Achievements against planned targets. FINANCIAL MANAGEMENT. Statement of Financial Performance. Notes to Statement of Financial Performance. Revenue ( Transfers and grants )

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Achievements against planned targets

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  1. Achievements against planned targets

  2. Achievements against planned targets

  3. FINANCIAL MANAGEMENT

  4. Statement of Financial Performance

  5. Notes to Statement of Financial Performance Revenue (Transfers and grants) • Grants received from the dtiamounted to R32,026m, which is 60% of annual budget of R53, 376m. • Interest Income: Interest that was received on the current account amounted to R290 719. Expenditure • Employee related costs: Salary and social contributions, which include medical aid, pension fund, PAYE and housing allowances amounted to R 7,920m. • Operating expenditure: The spending of R3,088m was in respect of Goods and Services, such as fixed costs relating to office rental, and other administrative expenses such as audit and risk committee and audit fees, consultant cost and legal costs. • Depreciation comprising intangible assets, computer equipment, lease hold improvements and office furniture amounted to R436 000.

  6. Notes to Statement of Financial Position • Cash and Cash equivalents: The balance in the bank comprises of the surplus of R2 917 587.00 for 2012/13 and the R3 764 204.00 for 2013/2014 (Application for retention is still pending approval) as well as the cash balance of the current account held with Nedbank, petty cash, and the investment with the Corporation for Public Deposit (CPD). • Trade and other receivables: The balance is in respect of exchange transactions, and relates to external debtors of 2011/12 and 2012/13 which were only raised in 2012/13. The debt cases have been handed to attorneys for collection. • Trade and receivables: The balance is in respect of non-exchange transactions, and relates to staff debtors. Recovery is taking place on a monthly basis. • Property, Plant & Equipment: The entity purchased office furniture amounting to R248 000 during the first quarter.

  7. Notes to Statement of Financial Position Continues • Intangible Assets: The entity purchased a website for R248 000. • Trade and other payables: This balance is in respect of exchange transactions, and relates to goods and services received in the first quarter but not yet paid. • Provision for Leave pay: Relates to leave taken by employees of the NCC. • Deferred Operating lease liability: During the previous financial period, depreciation on operating lease expenses on the building had been calculated erroneously on a straight lined basis.

  8. STATEMENT OF CHANGES IN NET ASSETS

  9. Projected budget vs actual spending at the end of June 2014

  10. Reasons for variance

  11. Progress against AGSA Findings

  12. Progress on AGSA Findings: Summary • AGSA findings- 2013/14- 31 (23 fully implemented- 08 in progress) • Full, open and transparent cooperation with the Auditor General of South Africa; • Progress tracked on all previous findings of the Auditor General; • Genuine progress made against all findings; • These findings related to the absence of policies, revision of internal processes in supply chain management, finance, asset management, recruitment of personnel, leave management, travel; etc; • Action Plans drafted and the vast majority fully implemented; • CFO resigned; • 10 officials, including 4 senior managers undergoing disciplinary action.

  13. Dashboard March 2014

  14. Dashboard March 2014

  15. Key Challenges Vacancies • As at 30 June 2014, 110 positions out of 182 were vacant; • Off the 182 positions, 82 were funded posts; Off the 82 funded posts, 10 were vacant; • Formal restructuring will be undertaken- envisaged that most of the vacant/ unfunded posts will be abandoned; Skills • Whilst a skills audit has not yet been conducted at the NCC, it is apparent that a major skills shortage does exist within the entity; • A proper skills upgrade programme is not in place due to lack of funds. In the interim, internal training is provided; Complaints Backlog • Backlogs do occur from time to time; • Overtime has been implemented within Enforcement Division Irregular Expenditure • Bulk of irregular expenditure arise from lease; • 2 years to expiry of lease contract; • Cost of cancellation and possible relocation is not feasible in the short term.

  16. Delegation Details Mr Ebrahim Mohamed- Commissioner- E.Mohamed@thencc.org.za - 0837865239 Mr Anton Van Der Merwe- Acting Head of Corporate Services- A.Vandermerwe@thencc.org.za Ms Prudence Moilwa- Head of Enforcement and Investigations- P.Moilwa@thencc.org.za Mr Narain Babs Kuljeeth- Company Secretary- N.Kuljeeth@thencc.org.za - 0832739647

  17. Thank You

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