1. GREETING, RECONITION AND APPRECIATION
Executive (DHET and National Treasury)
Board
Audit and Risk Committee
Auditor-General (in absentia)
All Employers
Service Providers
Learners
Colleagues
Other organs of State and Distinguished Guests, Good morning

2. PART E: FINANCIAL INFORMATION 2017/18 (PAGE 78-127)
05 Oct 2018

3. Mr Clema Mangwato AGA (SA)
Acting CFO
Finance Manager
SAICA - Associate General Accountant (SA)

4. CONTENT Report of the Auditor-General (Page 79-83)
Board’s Responsibility and approval (Page 84)
Statement of Financial Position (Page 85)
Statement of Financial Performance (Page 86)
Statement of Changes in Net Assets (Page 87)
Cash Flow Statement (Page 88)
Budget v/s Actual (Page 89)
Accounting Policies (Page )
Notes (Page )

5. Report of the Auditor-General (Page 79-83)
1.1. Report on the audit of financial statements (Page 79)
Unqualified Opinion

6. Report of the Auditor-General (Page 79-83)
1.2. Report on the audit of the Performance Report (Pg 80)
Material Findings were identified

7. Report of the Auditor-General (Page 79-83)
1.3. Report on audit of compliance with Legislations (Pg 81)
Material Findings were identified

8. Report of the Auditor-General (Page 79-83)
1.4. Internal control deficiencies (Page 82) Significant internal control deficiencies were identified

9. Board’s Responsibility and approval (Pg 84)
AFS were reviewed by Audit Committee
Board approved the AFS

10. Statement of Financial Position (Page 85)
ASSETS (R' millions)
Changes
2018 R
2017 R %
Amount
Current Assets 20 80
471
391
Non-Current Assets 6
Total Assets
477
397

11. Statement of Financial Position (Page 85)
LIABILITIES (R' millions)
Changes
2018 R
2017 R %
Amount
Current Liabilities 8 7 99 92
Total Liabilities
Reserves 24 73
378
305

12. Statement of Financial Performance (Page 86)
R' millions
Changes
2018 R
2017 R %
Amount
Income 15 58
434
376
Expenditure 7 25
360
335
Surplus 80 33 74 41
Employee cost 13 2 17
Mandatory Grants (Pg 108) 1 54 53
Projects expenditure (Pg 108) 10 24
260
236

13. Statement of Changes in Net Assets (Page 87)
RESERVES (R' millions)
Changes
2018 R
2017 R %
Amount
Capitalisation 3
Discretionary 25 74
373
299
Administration 2

14. Cash Flow Statement (Page 88)
R' millions
Changes
2018 R
2017 R %
Amount
Receipts 11 43
434
391
Payments 35
353
318
Net cash flows from operations
 12  9 82 73
Investment in PPE (below million)  0
Cash available 22
462
380

15. Budget v/s Actual (Page 89)
R' millions
Changes
Actual R
Budget R %
Amount
Revenue 11 44
434
390
Expenditure -8
-30
360
Employee cost
-15 -3 17 20
Mandatory Grants and Project expenditure
-27
314
341

16. Accounting Policies (Page 90-100)
There were no changes in the accounting policies

17. Notes (Page 101-127) New Standards/ Pronouncements (issued by ASB)
Administration expense (Pg 109)
Commitments (Pg 112)
Self explanatory reading

18. THANK YOU

19. QUESTIONS ?