AGM presentation 15 Sep 2010AGM presentation 15 Sep 2010 11
Agriseta AFS Agriseta AFS for the year ended 31 March 2010for the year ended 31 March 2010
AGM presentation 15 Sep 2010AGM presentation 15 Sep 2010 22
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
AGM presentation 15 Sep 2010AGM presentation 15 Sep 2010 33
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%)
AGM presentation 15 Sep 2010AGM presentation 15 Sep 2010 44
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
AGM presentation 15 Sep 2010AGM presentation 15 Sep 2010 55
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
AGM presentation 15 Sep 2010AGM presentation 15 Sep 2010 66
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
AGM presentation 15 Sep 2010AGM presentation 15 Sep 2010 77
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
AGM presentation 15 Sep 2010AGM presentation 15 Sep 2010 88
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
AGM presentation 15 Sep 2010AGM presentation 15 Sep 2010 99
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
AGM presentation 15 Sep 2010AGM presentation 15 Sep 2010 1010
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
AGM presentation 15 Sep 2010AGM presentation 15 Sep 2010 1111
ConclusionConclusion
• Questions?
AGM presentation 15 Sep 2010AGM presentation 15 Sep 2010 1212
ConclusionConclusion
Thank YouThank You