FASSET FASSET The Seta for finance, accounting and The Seta for finance, accounting and related disciplines related disciplines Presentation to the Portfolio Committee Presentation to the Portfolio Committee on Labour October 2005 on Labour October 2005
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FASSET The Seta for finance, accounting and related disciplines Presentation to the Portfolio Committee on Labour October 2005.
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FASSETFASSETThe Seta for finance, accounting and related The Seta for finance, accounting and related
disciplinesdisciplines
Presentation to the Portfolio Committee on Labour Presentation to the Portfolio Committee on Labour October 2005October 2005
OVERVIEW OF PRESENTATIONOVERVIEW OF PRESENTATION
Sector profileSector profile
Seta profileSeta profile
NSDS 1 achievementsNSDS 1 achievements
Financial information and audit resultsFinancial information and audit results
ChallengesChallenges
QuestionsQuestions
SECTOR PROFILESECTOR PROFILE
SUBSECTORSUBSECTOR No. of No. of organisationsorganisations
5.1 (No. of learners)5.1 (No. of learners) 30003000 1886118861
FINANCIAL INFORMATIONFINANCIAL INFORMATION
AMOUNT (millions)AMOUNT (millions)
SDL incomeSDL income R113,5R113,5
Total revenueTotal revenue R156,7R156,7
Total expenditureTotal expenditure R145,3R145,3
Expenses as a % of SDL incomeExpenses as a % of SDL income 128%128%
Total cash and cash equivalentsTotal cash and cash equivalents R109,5R109,5
Net surplusNet surplus R11,4R11,4
Grants payableGrants payable R44,3R44,3
Admin expensesAdmin expenses R10,1R10,1
AUDIT RESULTSAUDIT RESULTS
Unqualified audit reportUnqualified audit report
Commitment to good corporate governanceCommitment to good corporate governance
Support extending the audit to include performance Support extending the audit to include performance auditaudit
Appreciate the value added by the Auditor GeneralAppreciate the value added by the Auditor General
PROJECTS AND DISCRETIONARY PROJECTS AND DISCRETIONARY GRANTSGRANTS
3 TYPES3 TYPES
Social projectsSocial projects e.g. GTH, Scimathuse.g. GTH, Scimathus
Discretionary grantsDiscretionary grants e.g. Learnership, SCGe.g. Learnership, SCG
Direct interventionsDirect interventions e.g. ABET and CPEe.g. ABET and CPE
All aligned to critical skills needs or strategic imperativesAll aligned to critical skills needs or strategic imperatives
Duration ½ day to 3 yearsDuration ½ day to 3 years
Placement and sustainability key drivers when approvingPlacement and sustainability key drivers when approving
Linked to race, gender and disability targetsLinked to race, gender and disability targets
Importance of life-long learningImportance of life-long learning
CHALLENGESCHALLENGES
Impact of the R500 000 SMME levy exemption on SMME Impact of the R500 000 SMME levy exemption on SMME participation and assistanceparticipation and assistance
4 500 of the 7 200 companies in Fasset will be exempt4 500 of the 7 200 companies in Fasset will be exempt
6.5% of levy income will be lost6.5% of levy income will be lost
Profile of the sector can only change slowly (7 to 10 years)Profile of the sector can only change slowly (7 to 10 years)
Uncertainty regarding the continuation of the learnership tax Uncertainty regarding the continuation of the learnership tax deductiondeduction
Uncertainty regarding the impact of the changes made to the Uncertainty regarding the impact of the changes made to the Funding Regulations Funding Regulations
THANK YOUTHANK YOU
QUESTIONS?QUESTIONS?
Presentation to the Portfolio Committee on Labour Presentation to the Portfolio Committee on Labour October 2005October 2005