1. PORTFOLIO COMMITTEE MEETING
DATE: 10 October 2012 Venue: Parliament, Cape town

2. BOXING SOUTH AFRICA Mandate as per Boxing Act 11 of 2001:
To provide for a new structure for professional boxing in the Republic;
to ensure the effective and efficient administration of professional boxing in the Republic;
to recognise amateur boxing;
to create synergy between professional and amateur boxing;
to establish a Boxing Commission known as Boxing SA;
to promote interaction between associations of boxers, managers, promoters, trainers and officials and Boxing SA; and to provide for matters connected therewith

3. BOXING SOUTH AFRICA
Vision To be a leading sport code in South Africa and a world class boxing authority Mission The effective and efficient administration and regulation of professional boxing Values P – Professionalism L - Leadership A - Accountability D - Diversity

4. ACHIEVEMENTS
The timeous appointment of the new board of Boxing SA on 28/08/2011.
The holding of a Board Induction Workshop and 4 board meetings 2011/2012 financial year.
The successful establishment of committees. i.e. Events Sanctioning Committee, Ratings Committee, Disciplinary Committee and Management Committee. Audit Committee interviews and appointment by end October.

5. ACHIEVEMENTS continued
The development Action Plan to rectify AGSA’s findings for the 2010/2011 AGSA report resulting in improved report 2012/2012.
Timeous submission of strat plan and all quarterly reports. Milestone in the history of Boxing SA
Road-show to present strategic plan and solicit input from stakeholders

6. ACHIEVEMENT continued
Adoption of MOU with SABC with final signing on the recent SABC board meeting
Adoption of functional structure formulation, to consist of the Director: Communication and Marketing; Director: Compliance and Monitoring; Director: Corporate Services and a Chief Financial Officer.
appropriate licensing of boxing stakeholders in line with the provisions of the South African Boxing Act No.11 of

7. Achievement s continued
77 tournaments promoted throughout the country
17 were female bouts
Province
Tournaments EC 38
Gauteng 21
KZN 11
Limpopo 6 WC
Free State 2
Mpumalanga 1

8. Challenges
SRSA grant not adequate to meet legislative requirements
There are no financial resources available to finance strategic projects as per Strategic plan and strategic posts. (e.g Baby champs, training, rural development, infrastructure development e.t.c)
Representation in international conventions to leverage BSA’s presence in the world and continent

9. CHALLENGES continued
Provincial and local government support with the exception of EC and KZN. (WC not interested at all)
Private strategic partnership with corporate sponsors

10. Annual Report 2011/2012 Qualifications Reason Action Plan
Trade and other payables (opening balance)
No supporting documentation due to lack of proper financial administration in prior years
Follow a process of write-off. Currently at the final stage of sending negative confirmations.
Trade and other receivables (opening balance)

11. Annual Report 2011/2012 Emphasis of matter Reason Action Plan
Significant uncertainties
Contingent liabilities arising from pending lawsuits.
The CEO is busy trying to resolve the issues to avoid the possible liability.
Restatement of corresponding figures
It is uncertain why the statement for the insurance asset had an opening balance that was different from the previous years closing balance. AGSA audited the closing balance as accurate in the previous year.
To ensure that the opening balance and closing balance correspond in the current year.
Going concern
There is still a risk that the entity may not be able to go on business considering the actual net deficit position.
SRSA and NT increased the annual grant this year and over the MTEF period. BSA board and CEO are working on generating more revenue for the entity. SABC contract in process of finalization.

12. Annual Report 2011/2012 Legal requirements Reason Action Plan
Performance information
Indicators are not SMART
New board appointed in the middle of the year, decided to create a new strategic plan since half the year had already passed.
The risks have been addressed in the new strategic plan. One issue stills remains is there is no financial resources available to meet strategic objectives. Hence sourcing funds.
Audit committee
New Board wished to appoint new audit committee. Process was not complete as at 31 March 2012.
The process is at the interview stage now.
Internal audit
No revenue available to fund internal audit in the 2011/2012 financial year.
Internal audit team at SRSA will perform the internal audit function in 2012/2013. the head of audit has met with BSA already.

13. BSA CREDITOR ANALYSIS Major creditors & balances: Creditor Description
31-Mar-11
31-Mar-12
SARS
Boxers PAYE, VAT, UIF
Auditor-General SA
External audit balances for the last 2 years
Trade payables
Balances owing to promoters per tournament
Board fees
Outgoing board for current & prior years
Audit committee fees
36 304
TOTAL

14. BSA EXPENDITURE ANALYSIS
31-Mar-11
31-Mar-12
% diff
Reasons
Employee cost↑
28%
Appointment of CEO, staff benefits
Depreciation ↓
35%
Assets reached end of useful lives and not in use
Finance costs↓
88%
Settlement of long outstanding creditors
General expense↓
24%
Conservative spending
TOTAL
17%
Total drop in expenditure
Reflects the affect of proper financial management & administration
Achieved through monthly finance reports, risk assessments and action plans

15. Other provincial grants
SRSA grant
(R )
Sponsorship
(R0)
REVENUE 2012/2013
Sanctioning Fees - 30/09/2011
(R )
License Fees – 30/09/2011
(R )
Other provincial grants
(R )
Forfeit fees 30/09/2011
(R7 000)

16. BSA REVENUE ESTIMATES
SRSA grant
2011/2012
2012/2013
2013/2014
2014/2015
Approved grant
Additional grant *
Total
Sanctioning fees
Licence fees
Other grants -
Total Revenue
*Used to settle long outstanding creditors SARS & AGSA old board and audit committee members that were not paid.
All additional funding are used to fill in gaps for day to day expenditure and fill significant vacant posts.
No approved funds available to meet strategic objectives.

17. BOXING SA ORGANISATIONAL STRUCTURE
MINISTER OF SPORT AND RECREATION SA
HON. MR. FIKILE MBALULA
DEPUTY MINISTER OF SPORT AN RECREATION HON. GERT OOSTHUIZEN
BSA BOARD
CEO
MOFFAT QITHI
PA to CEO
(VACANT)
CFO
(OUTSOURCED: Financial Management Consultant)
DIRECTOR OF OPERATIONS
LOYISO MTYA (ACTING CEO)
DIRECTOR: COMMUNICATIONS & MARKETING
(VACANT)
FINANCIAL MANAGER
TUMELO KEKANA
HR MANAGER
(VACANT)
BOXING TECHNICAL
CO-ORDINATOR
NOMSA MDHLULI
IT & STATISTICS OFFICER
SKHUMBUZO MOTHA
TOURNAMENTS & OFFICE ASSISTANT
ABRAM KAMBULE
PROVINCIAL MANAGERS
ACCOUNTS ADMINSTRATOR
VERQUELENE JACOBS
RECEPTIONIST
LILLIAN DE WEE
ACCOUNTS CLERK
(VACANT)
GENERAL ADMINISTRATIVE ASSISTANT
MAJORIE THEBE

18. BSA main goals – MTEF period
Generation of additional revenue - sponsorships
Appointment of permanent CFO – shortlisting is in progress – 2012/2013
Filling in significant vacant posts
Clean audit reports

19. THE END. THANK YOU!