AGM presentation 17 Sep 2014AGM presentation 17 Sep 2014 11

Audit Opinion

Auditor-General issued an Unqualified Audit Report

Financial Statements are not materially

misstated Opinion is not given on Performance

Information Material adjustments to commitments were

processed in the current year

AGM presentation 17 Sep 2014AGM presentation 17 Sep 201422

Employers info – March 201418,401 (2013: 18,355) registered employers

4,147(2013: 5,068) employers paying SDL levy - Total levies received R269,9M (2013: R223,1M)

Applications received by 30 June 2013 (for 2014):WSP’s =1,759(2013: 1,835 )Total amount paid towards Mandatory Grants –

R54.9M (2013: R99.9M) Payout is 72%

AGM presentation 17 Sep 2014AGM presentation 17 Sep 2014 33

Levy Growth

AGM presentation 17 Sep 2014AGM presentation 17 Sep 2014 44

Levies AnalysisYear Amount R’000 Percentage Growth

%

2010 161 524

13.26%

2011 172 372

6.71%

2012 206 026

19.52%

2013 223 180 8.32%

2014 269 932 20.95%

AGM presentation 17 Sep 2014AGM presentation 17 Sep 2014 55

Project Grant Expenditure March 2014Total project spend: R144.2M (2013: R104.0M)

38.7% increase Top 10 projects on spending 71% of total

Project Expenditure

66

Name R-Millions

P4 Learnerships 18.2 R16.5M

P4 Interns R13.6M

FET Infrastructure R24.8M

P7 Learnerships 18.1 R13.2M

P7 Commodity Orgs R7.5M

P4 Apprenticeship and ABET R4.5m

4.1 Mentoring and support for Land Reform

R7.2M

P4&P7 Skills Delivery Administration R5.4M

P7 Skills Programmes 18.1 R4.6M

P4 Graduate Placements R5.7M

Statement of Financial Performance March 2014INCOME 2013/14

R’0002012/13

R’000%

Movement

Levies, penalties & interest 273,565 225,542 21.29%

NSF & special projects income 24,702 15,474 59.64%

Investment and other income 9,347 8,480 10.22%

Total 307,614249,496

23.29%

AGM presentation 17 Sep 2014AGM presentation 17 Sep 2014 77

Statement of Financial Performance March 2014

EXPENSES 2013/14 R’000

2012/13 R’000

% Move

Employer grant Discretionary >Paid Movement in Accrual FET Infrastructure

54,936

109,5779,856

24,844

99,892

101,4172,598

0

(45.00%)

8.05%279.37%

100%

Admin expenses and finance costs

31,534 28,034 12.48%

NSF & Special project expenses

24,702 15,474 59.64%

Total 255,449 247,415 3.25%

Net Surplus/(Deficit): 52,165 2,081 2406.73%

88

Statement of Financial Position March 2014

ASSETS 2013/14R’000

2012/13R’000

% Move

Property Plant & Equipment 4,502 4,627 (2.7%)

Intangible assetsReceivables

517,710

1610,780

(68.75%)64.29%

Cash and Bank 213,847 173,437 23.30%

Total 236,064 188,860 24.99%

AGM presentation 17 Sep 2014AGM presentation 17 Sep 2014 99

Statement of Financial Position March 2014EQUITY & LIABILITIES 2013/14

R’0002012/

13R’000

% Move

Grant and Other Reserves 168,584116,41

9 44,81%

Capitalisation reserve 3,107 3,107 0%

Payable & Provisions 61,641 67,572 (8.78%)

Grants & Donor Funding 2,733 1,762 55.11%

Total 236,065 188,860

24.99%

AGM presentation 17 Sep 2014AGM presentation 17 Sep 2014

Discretionary Reserve

AGM presentation 17 Sep 2014AGM presentation 17 Sep 2014

Year Discretionary Reserve

Approved By Board

Contracted

2013/14 R167,44M R145,28M R133,26M

2012/13 R115,15M R108,18M R77,20M

% Movement

45.41% 34.29% 72.62%

Allocation of Discretionary Allocation of Discretionary ReservesReserves

Cash Flow Statement –Summary March 2014

1212

Cash Flow Statement 2013/14R’000

2012/13R’000

Net Cash Outflow from operating Activities 40,848 (2,063)

2080.08%

Cash Outflow from Investing Activities (312) (169) (84.62%)

Net Decrease in Cash and Cash Equivalents 40,410 (2,301)

(1856,19%)

Opening Cash Balance 173,437 175,738 (0.13%)

Total 213,847 173,437 23.30%

Conclusion

1313

Questions?

Conclusion

Thank You

1414