1. MARKET THEATRE FOUNDATION
DEPARTMENT OF ARTS AND CULTURE
4/8/2019
MARKET THEATRE FOUNDATION
ACTING DIRECTOR-GENERAL: ARTS AND CULTURE
DATE: 13/10/2016

2. PRESENTATION OUTLINE Background Performance Overview
Income and Expenditure
Audit Outcome
Audit Findings
Governance
Windybrow Theatre
Closure

3. BACKGROUND Market Theatre Foundation is a schedule 3A public entity.
The Foundation was established in terms of the Cultural Institutions Act, 1998 (Act No. 118 of 1998).
The Foundation receives institutional transfers from the Department to finance its operations and address its Infrastructural needs.

4. PERFORMANCE OVERVIEW

5. THREE YEAR PERFORMANCE OVERVIEW
PROGRESS
2013/14
2014/15
2015/16
2016/17
(as at 30 June 2016)
Achieved
75%
80%
68%
50%
Not achieved
25%
20%
32%

6. INCOME AND EXPENDITURE TRENDS
ITEM
2013/14
2014/15
2015/16
2016/17
(As at 30 June 2016)
R’000
Income
62,681
85,521
95,895
13,623
Government Grant
43,185
69,694
73,422
10,604
Own Income
19,496
15,827
22,473
2,176
Expenditure
(47,274)
(46,362)
(54,252)
(8,511)
Surplus
15,407
39,159
41 643
5,112

7. AUDIT OUTCOME MTF 2012/13 2013/14 2014/15 2015/16 Audit Opinion
Unqualified with findings

8. SELECTED AUDIT FINDINGS
Emphasis of matter in respect of the following:
Irregular Expenditure incurred by the Market Theatre Foundation.
Market Theatre Foundation did not maintain regular, accurate and complete performance reports that are supported by reliable verification sources.

9. GOVERNANCE
GOVERANCE STRUCTURES
Council
The Council of the Market Theatre Foundation is fully constituted as at 13 October 2016.
Management
The Market Theatre Foundation has Chief Executive Officer and the Chief Financial Officer in place.

10. GOVERNANCE… MEETING FREQUENCY AND ATTENDANCE 2013/14 2014/15 2015/16
2016/17
Number of Council members 9 8 7
Number of Council meetings 4 6 1
Number of Council committee meetings
Attendance rate of Council meetings
81%
73%
84%
100%
Number of Audit Committee meetings
Number of Management meetings 10 3
Number of Staff meetings

11. WINDYBROW THEATRE
The Windybrow Theatre is a schedule 3A public entity.
The entity receive institutional transfers from the Department to finance its operations and address its Infrastructural requirements.
The Windybrow Theatre was consolidated into the Market Theatre Foundation on 1 April 2016.
Council and Management of the Market Theatre were appointed as the acting Accounting Authority and Executive Management of the Windybrow Theatre, respectively.
Operations at the Windybrow were suspended in March 2014.
Staff of the Windybrow Theatre is currently operating from the premises of the Market Theatre Foundation.

12. INCOME AND EXPENDITURE TRENDS
ITEM
2013/14
2014/15
2015/16
R’000
Income
16,678
11,580
17,772
Government Grant
15,851
11,543
17,415
Own Income
827
127
356
Expenditure
(17,949)
(8,870)
(15,067)
Surplus/Deficit
(1,271)
2 710
2 705

13. AUDIT OUTCOME
The Windybrow Theatre received the unqualified audit opinion in 2015/16.
An improvement from the qualified opinions received by the entity since 2005.
Financial statements not prepared in accordance with the prescribed financial reporting framework (Section 55 of PFMA).
The entity received audit findings due to lack of Internal Audit function.
Misstatements of financial statements (Contingent liabilities, Trade and other payables and receivables).

14. Unqualified with findings
AUDIT FINDINGS
Windybrow
2013/14
2014/15
2015/16
Audit Opinion
Qualified
Unqualified with findings

15. DEPARTMENT OF ARTS AND CULTURE
4/8/2019
THANK YOU