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AgriSeta AFS for the year ended 31 March 2013
AGM presentation 18 Sep 2013
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Audit Opinion Auditor-General issued an Unqualified Audit Report
Financial Statements are not materially misstated Opinion is not given on Performance Information Improvement from last year as there was a material adjustment with regards to commitments AGM presentation 18 Sep 2013
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Employers info – March 2013 R18,355 (2012:18,108) registered employers
5,068 (2012: 4,818) employers paying SDL levy - Total levies received R223,1M (2012:R206,1M) Applications received by 30 June 2012 (for 2013): WSP’s =1,835 (2012: 1,755) Total amount paid towards Mandatory Grants –R99.9M (2012: R87.9M)–Payout is 72% AGM presentation 18 Sep 2013
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Levy Growth AGM presentation 15 Sep 2010
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Levies Analysis Year Amount R’000 Percentage Growth % 2009 8.41% 2010 13.26% 2011 6.71% 2012 19.52% 2013 8.32% AGM presentation 15 Sep 2010
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Project Grant Expenditure March 2013
Total project spend: R104.0M (2012:R89.8M) 16% increase Top 10 projects on spending 71% of total Project Expenditure Name R-Millions P4 Learnerships 18.2 R14.9M P.7 Learnerships 18.1 R11.0M P4 Interns R10.5M P7 Commodity Organizations R7.5M NSFAS R7.3M P12 CEO/TLS R6.0M P4 Bursaries R4.5M P4&P7 Skills Delivery Administration R4.4M P7 Skills Programmes 18.1 R4.2M 4,1 Workers Programmes R3.7M
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Statement of Financial Performance March 2013
INCOME 2012/13 R’000 2011/12 % Movement Levies, penalties & interest 225,542 207,896 8.48% NSF & special projects income 15,474 2,517 500.15% Investment and other income 8,480 8,672 (2.21%) Total 249,496 219,085 13.88% AGM presentation 18 Sep 2013
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Statement of Financial Performance March 2013
EXPENSES 2012/13 R’000 2011/12 R’000 % Move Employer grant Discretionary >Paid Movement in Accrual 99,892 101,417 2,598 87,904 88,852 1,046 13.64% 14.14% 148.37% Admin expenses 28,024 24,817 12.92% NSF & Special project expenses 15,474 2,517 500.15% Total 247,415 205,136 20.61% Net Surplus/(Deficit): 2,081 13,949 (85.05%)
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Statement of Financial Position March 2013
ASSETS 2012/13 R’000 2011/12 % Move Property Plant & Equipment 4,627 4,608 0.40% Intangible assets Receivables 16 10,780 46 3,498 (65%) 200.08% Cash and Bank 173,437 175,738 (1.30%) Total 188,860 183,890 2.70% AGM presentation 18 Sep 2013
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Statement of Financial Position March 2013
EQUITY & LIABILITIES 2012/13 R’000 2011/12 % Move Grant and Other Reserves 116,419 114,339 1.81% Capitalisation reserve 3,107 0% Payable & Provisions 67,572 65,934 2.48% Grants & Donor Funding 1,762 510 245.49% Total 188,860 183,890 2.70% Of the R99.9M R79.5M has been approved for future projects Payable relate to o/s Grant payments of R19.3M and Project and Trade Payables of R11.6M R3.3M Relates to amounts due to SARS AGM presentation 18 Sep 2013
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Discretionary Reserve
Allocation of Discretionary Reserves Year Discretionary Reserve Approved By Board Contracted 2012/13 R115,15M R108,18M R77,20M 2011/12 R113.09M R M R 57.65M % Movement 1.82% 6.41% 33.91 AGM presentation 18 Sep 2013
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Cash Flow Statement –Summary March 2013
2012/13 R’000 2011/12 Net Cash Outflow from operating Activities (2,063) 28,799 (107.16%) Cash Outflow from Investing Activities (169) (519) (67.43%) Net Decrease in Cash and Cash Equivalents (2,301) 28,280 (108.14%) Opening Cash Balance 175,738 147,458 19.18% Total 173,437 (1.30%)
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Conclusion Questions?
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Conclusion Thank You
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