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Agriseta AFS Agriseta AFS for the year ended 31 March 2010for the year ended 31 March 2010

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Audit OpinionAudit Opinion Auditor-General issued an Unqualified Audit

Report Draw attention to the relicensing of Setas NSDS III is yet to be finalized by the

Department of Higher Education and Training. AgriSeta has applied for the renewal of its certificate of establishment

Reported on performance information – no findings

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Employers info – March 2010Employers info – March 2010

17,381 (2009: 16,6633) registered employers

4,424 (2009: 4,258) employers paying SDL levy - Total levies received R161,5M (2009 R142,6M)

Applications received by 30 June 2009 (for 2010): WSP’s = 1,709 (previously 1,680)

Total amount paid towards Mandatory Grants – R72.5m (2009 R60M) – Payout % 73%(2009:73%)

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Project Grant Expenditure Project Grant Expenditure March 2010March 2010

Total project spend: R95,1 (2009 R59.6M)

Top 5 projects on spending (90%): Learnership/Skills 2.8/4.1 R 28.8m ABET Project R 12.9m Skills Programmes 18.1/18.2 R 15.4m Workers Programmes R 22.3m NQF Capacity R 6.2m Other Projects R 9.5m

Total Project Expenditure R 95m

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Statement of Financial Statement of Financial Performance March 2010Performance March 2010

INCOME R’000SD Levies, penalties & interest

162,983

NSF & special projects income

7,155

Investment and other income

12,321

Total 182,459

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Statement of Financial Statement of Financial Performance March 2010Performance March 2010

EXPENSES R’000

Employer grant Discretionary >Paid >Accrued

72,562

83,39111,695

Admin expenses 19,653NSF & Special project expenses 7,155Total 194,456

Net deficit: 11,997

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Statement of Financial Statement of Financial Position Position

March 2010March 2010ASSETS R’000Property Plant & Equipment

4,623

Intangible assetsReceivables

123,663

Cash 159,174Total 167,473

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Statement of Financial Statement of Financial Position March 2010Position March 2010

EQUITY & LIABILITIES R’000Grant and Other Reserves

129,246

Capitalisation reserve 3,107Payable & Provisions 34,436Grants and funding in advance

684

Total 167,473R124m approved for future projects

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Discretionary ReserveDiscretionary ReserveDiscretionary Reserve R 127.6m Approved by board R 124.4m

Allocation to Top 5 Projects(67%): Workers Programme R 29.2m Mentoring-Land Reform R 19.9m Skills Programmes 18.1-2.8 R 15.9m Learnerships/skills R 10.3m ABET R 8.5m

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Cash Flow Statement –Summary Cash Flow Statement –Summary March 2010 March 2010

R’000Net cash outflow operating activities:

9,750Net cash outflow investing activities:

307

Net decrease in cash10,057

Cash and cash equivalents: 159,174

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ConclusionConclusion

• Questions?

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ConclusionConclusion

Thank YouThank You