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Financial and Fiscal Commission 2007/2008 Annual Report

Read the annual report of the Financial and Fiscal Commission for the year 2007/2008, covering its mandate, achievements, challenges, and financial performance.

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Financial and Fiscal Commission 2007/2008 Annual Report

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  1. FINANCIAL AND FISCAL COMMISSION 2007/2008 ANNUAL REPORT

  2. Mandate • Sections 220, 221, 222 and related Sections 214(2), 219(5), 228(2)(b), 229(5), 230(2), 230A(2) of the Constitution of the Republic of South Africa Act No. 108 of 1996 as amended • The Constitution provides among others that the Commission is an independent, objective, impartial and unbiased advisory institution on • the division of revenue among the three spheres of government • any other financial and fiscal matters

  3. Enabling Legislation • The Intergovernmental Fiscal Relations Act No. 97 of 1997 as amended, • The Financial and Fiscal Commission Act No. 99 of 1997 as amended, • The Municipal Systems Act No. 32 of 2000 as amended, • The Provincial Tax Regulation Process Act No. 53 of 2001 as amended, • The Municipal Finance Management Act No. 56 of 2003 as amended, • The Intergovernmental Relations Framework Act No. 13 of 2005 as amended, and • The Municipal Fiscal Powers and Functions Act No. 12 of 2007.

  4. Highlights/Achievements • Annual Submission for the Division of Revenue 2008 MTEF • Submission on the 2008 Division of Revenue Bill • Submission on the Public Finance Management Bill • Submission on the Local Government Laws Amendment Bill • Submission on the Municipal Fiscal Powers and Functions Bill

  5. Highlights/Achievements • Research tools developed in-house • Constitutionally Mandated Basic Services (CMBS) Model • Energy Computable General Equilibrium (CGE) Model • Social Accounting Matrix (SAM)

  6. Highlights/Achievements • Stakeholder Advisories • Free State Provincial Treasury, KwaZulu-Natal Provincial Treasury • Assistance to other African countries on intergovernmental fiscal relations systems and efforts at fiscal decentralisation • DRC, Sudan • A number of publications from Commissioners and the research staff

  7. Challenges • Critical skills flight • Primarily in the research team but also in the support services • Commission intervention through development of retention strategy • Compliance • Budget constraints impact on rolling out strategies around compliance with myriad of legislation such as PAIA, PFMA • Financial and non-financial resource constraints

  8. Commission • End of terms of Commissioners • Prof Antony Melck, Mr. Kamalasen Chetty and Mr. Jaya Josie (Deputy Chairperson) Gugu Moloi (resigned) • Appointment of new Commissioners • Mr. David Savage (National), Mr. Bongani Khumalo National and Deputy Chairperson), Mr. Krish Kumar (Local) and Ms Nelisiwe Shezi (Provincial) • Commission Meetings • Attendance (see report) • Remuneration of Commissioners • Work still on-going on resolving the matter (see report) • Code of Ethics • Work in progress for finalisation in 2008

  9. Commission • Commission Committees • Audit Committee • New Chairperson appointed • Need to align with FFC Act which specifies that all Committees shall be chaired by a Commissioner • Remuneration and Performance ReviewCommittee • Research Committee • Stakeholder Relations • Legislatures and government (national and provincial) • NGO Sector • Organised local government

  10. Performance • Research Output • Compliance with Constitutional and Legislative Mandate • Response to 2007 Division of Revenue Bill • 2007 Annual Submission on the Division of Revenue • Annual Report 2006/2007 • Comment on 2008 Public Finance Management Bill • Comment on 2007 Local Government Amendment Bill • Publications

  11. Management • Remuneration Strategy and Policies • Finalised and first phase implementation • Retention Strategy and Policies • Finalised and first phase implementation • Employment Equity • Report indicates reasonable progress • Risk Management Framework • Reviewed annually

  12. Management • Fraud Prevention • Reviewed annually • Performance Based Budgeting • Cost centres are in operation • National Treasury Framework for reporting customised for the Commission and in use • Utilisation of Consultants • Mostly in the research program • External Supplier Appointments • Focus on HDI’s

  13. 2007/2008 Financials • The FFC has been given an unqualified audit report by the Auditor-General for the 2007/2008 FY • There were no matters of emphasis

  14. Revenue: 2007/2008

  15. 2007/8 Financial Performance

  16. Personnel Cost Split

  17. MTEF and Change in Baseline

  18. Drivers for change in Baseline • Retention and attraction of skills in RRP • Stakeholder management and liaison • Increasing the participation of non-full time Commissioners • Financing of all research projects • Revamping and upgrading the IT systems • Hardware and Software • Rental of premises • DPW has not transferred money for rental of premises • Compliance

  19. Conclusion Thank You

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