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Finance Report

Finance Report. Quarter ending 30 September 2015 2015/2016 Financial Year. Table of contents. Financial Performance Financial Position Financial Management system Audit Action Plans Budgetary Review & Recommendations Reports. Overview – Income and Expenditure. 3 months Q2.

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Finance Report

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  1. Finance Report Quarter ending 30 September 2015 2015/2016 Financial Year

  2. Table of contents • Financial Performance • Financial Position • Financial Management system • Audit Action Plans • Budgetary Review & Recommendations Reports

  3. Overview – Income and Expenditure 3 months Q2 Cumulative to 30 Sept 2015 Total income for half year R34, 5 million of which – Transfers were R34 million Donor Income was R351, 240 (SABC) Interest and other sundry receipts were R336, 295 Total expenditure came to R34, 7 million Year to date deficit of R193, 000 was recorded • Total income was R17, 4 million of which – • Transfers from NT were R16, 9 million • Donor, Interest & other – R 521, 122) • Total Expenditure amounted to R17, 9 million • Deficit for the quarter was R463, 000

  4. Year to 30 Sept 2015 total expenditure Analysis • Key drivers: • COE (72% of total expenditure. However over 60% 0f CEO is directed for the main service delivery programme • Advertising & Promotions – TV slots & Branding of vehicles and offices accounts for variance • Professional Services – Legal, Consulting and Audit fees • The Municipal Services increase and scale of billing higher than budgeted mainly due to high electricity tariffs

  5. Expenditure per programme

  6. SO1 – Enabling legislative environment For SO1: • Expenditure to 30 September 2015 represented 43% of the annual budget. • Targets achieved consistent with APP. • Efficiency gains noted in line with cost containment initiatives under-taken.

  7. SO2 – Protect and promote gender equality rights For SO2: • Expenditure to 30 September 2015 represented 41% of the annual budget. • Targets achieved consistent with APP. • Efficiency gains noted in line with cost containment initiatives under-taken.

  8. SO3 – Monitor international instruments For SO3: • Expenditure to 30 September 2015 represented 40% of the annual budget. • Main contributor to spending is COE at R4.8 million. Officials time collecting data and drafting of reports – AGDI, CEDAW, e.t.c • Most resources will be disbursed during the 4th quarter of the financial year

  9. SO4 – Effective, efficient administration For SO4: • Expenditure to 30 September 2015 represented 65% of the annual budget. • Targets achieved consistent with APP. • Higher spending rate: • Financial management due to regularity audit fees • Information Technology due to the investment project • Communications due to branding expenditure which has been reprioritised in this period

  10. Key notes on financial performance • All income due and receivable was recorded at R34, 5 million • Overall cumulative spending incurred at R34, 7 million • Therefore total was spending is within budget mainly due to efficiency gains resulting from the cost cutting measures implemented in terms of the spending plan/APP • For the 6 months period, COE was R24, 9 million against R23, 6 million budget. 5% overrun (R1,2 m) and 72% of the total spend • Increase in leave provision accounts for COE variance by and large (R710, 000) of R1, 2 m referred above • It is foreseen that the Commission will spend within the appropriated budget by the end of the 2015/2016 financial year.

  11. Fleet & IT equipment purchase accounts for increase in PPE and corresponding decrease in current assets – cash) • Creditors balances and payment days decreasing also negatively impacting on liquidity • Net asset position still favourable. Equity available following an unconditional grant by National Treasury to utilise the accumulated surplus

  12. Financial management systems Achievements Challenges Anticipated budget and cash-flow management pressures due to budgetary reductions. A few accommodation related issues. However, NDPW is actively assisting Pending regularisation of expenditure by National Treasury • ICT systems improvements • Main infrastructure • Accounting systems upgraded • Continuous improvements in the internal control environment • Resolved most of audit issues from 2014/2015 period

  13. Audit action plans…..An overview • Matter of emphasis by AGSA for the 2014/2015 opinion– Resolved : A once off material payment made to SA Revenue Services in relation to past non-compliance • Internal control weaknesses ( Issues fully resolved) • Human Resources Management • Information Technology • Procurement and Payments of service providers • Financial Statements • Non-compliance with laws and regulations (All specific findings attended to and systems set up to sustain compliance, including consequence management) • Preferential procurement (PPPFA, PFMA) • Treasury Regulations • Performance information – Consistency and usefulness of information- Continuous improvements effected

  14. Thank You HAVE A GENDER RELATED COMPLAINT ???? REPORT IT TO 0800 007 709 TwitterHandle @CGEinfoFacebook: Gender Commission of South Africa

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