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Notes to the Annual Financial Statements (continued) 19. Risk Management (continued) 19.6 Market risk The ETDP SETA is exposed to fluctuations in the employment market; for example sudden increases in unemployment and changes in the wage rates. No significant events occurred during the year that the ETDP SETA is aware of. Fair values The ETDP SETA’s financial instruments consist mainly of cash and cash equivalents, account and other receivables, and account and other payables. No financial instruments were carried at an amount in excess of their fair value. The following methods and assumptions are used to determine the fair value of each class of financial instrument: No financial asset or liability was carried at an amount in excess of its fair value and fair values could be reliably measured for all financial instruments. 20. Related Party Transactions 20.1 Transactions with other SETAs Inter-SETA transactions arise due to the movement of employers from one SETA to another. No other transactions occurred during the year with other SETAs. All transactions were at arm’s length. The parent entity of all SETAs is the Department of Higher Education and Training. Amount of the transaction 2010/11 R’000 Amount receivable/ (payable) Amount of the transaction 2009/10 R’000 Amount receivable/ (payable) Received 13 - 5 12 Services SETA - - 5 - ISETT SETA - - - 12 H&WSETA 13 - - - Paid (24) (1) (134) - Services SETA (24) - (32) - ISETT SETA - (1) - - H&WSETA - - (8) - AGRISETA - - (94) - Total (11) (1) (129) 12 88 ETDP•SETA Annual Report 2010/11
20.2 Transactions with other related parties The ETDP SETA recognises that related party transactions can present potential or actual conflicts of interest. It is therefore the policy of the ETDP SETA that at the time of evaluating contractual engagements the contracting parties are requested to provide evidence of company registrations and ownership/directorship. All the stakeholders are also requested to declare their interests prior to the start of meetings. 2010/11 R’000 2009/10 R’000 Related party Nature of relationship Transaction type Amount of the transaction Amount payable Amount of the transaction Amount payable Payables HESA Governance Mandatory grant 62 7 65 - NEHAWU Governance Mandatory grant 122 - 104 - SADTU Governance Mandatory grant 97 24 83 - NAPTOSA Governance Mandatory grant 53 9 54 - Thembekile Training Consulting Governance Discretionary grant 2,765 - 1,809 - Dr N GOPAL Governance Service provider 8 - - - T NXESI Individual Expense claim - - 6 - Polokwane Municipality Public entity Service provider 12 - 15 - SABC Public entity Service provider 1 - 2 - SAQA Public entity Service provider 776 - 156 - SAA Public entity Service provider 4,747 - 7,657 - The Auditor - General Public entity Service provider 1,592 - 1,182 - TELKOM SA Public entity Service provider 1,090 - 1,428 - 21. Change in Estimates In terms of the requirements of IAS16 the useful lives of assets were reviewed at year end. Where the remaining useful life expectations of certain assets differs from previous estimates, an adjustment for an over- or under-estimation is processed in the asset register. 22. Events after the Reporting Date No significant events occurred after the reporting date which required further disclosure in the annual financial statements. ETDP•SETA Annual Report 2010/11 89
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Education, Training and Development
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Contents Chairperson’s Remarks 2
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I would like to take this opportuni
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Skills development for workers/empl
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as well as appropriate utilisation
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Table 2: Objective 2: Promoting and
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NSDS Success Indicator ETDP SETA Ta
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Table 7: Learners completing learni
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ECD, the first and essential step t
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Provincial Presence and Performance
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aligned to the South African School
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Workplace Experience The programme
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While much has been achieved in the
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Table 20: Unemployed learners who c
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Table 21: Employed learners who ent
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them to manage programmes aimed at
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Challenges One of the challenges en
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Table 31: Unemployed learners who e
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Table 36: Unemployed learners who c
Page 39 and 40: Support for BEE Firms Ten organisat
Page 41 and 42: Learnerships Early Childhood Develo
Page 43 and 44: Constituency Support During the per
Page 45 and 46: Table 45: Constituency projects Con
Page 47 and 48: Constituency Project Implementation
Page 49 and 50: • Phase C - A site audit to verif
Page 51 and 52: Limpopo US ID 117877: Perform one-t
Page 53 and 54: Table 48: Providers who submitted s
Page 55 and 56: Support Services Human Resources In
Page 57 and 58: ETDP SETA Organograms High Level Ma
Page 59 and 60: Report of the Auditor-General to Pa
Page 61 and 62: Annual Financial Statements for the
Page 63 and 64: Remuneration of Governance Structur
Page 65 and 66: Statement of Financial Performance
Page 67 and 68: Statement of Changes in Net Assets
Page 69 and 70: Notes to the Annual Financial State
Page 71 and 72: Range of rates • Audiovisual equi
Page 73 and 74: A financial liability or part there
Page 75 and 76: 1.19 Standards of GRAP not yet effe
Page 77 and 78: 6. Mandatory and Discretionary Gran
Page 79 and 80: 2010/11 2009/10 R’000 R’000 7.1
Page 81 and 82: Carrying amount 2010 Additions at c
Page 83 and 84: 11. Accounts Receivable from Non-Ex
Page 85 and 86: 16. Accrued Employee Entitlements E
Page 87 and 88: Summary of total funding commitment
Page 89: 19.4 Interest risk The ETDP SETA ma
Page 93 and 94: Administration expenses 31 March 20
Page 95 and 96: Appendix 1 The ETDP SETA Governance
Page 97 and 98: Table 4: ETDP SETA Schooling Chambe
Page 99 and 100: Table 7: The Finance Committee of t
Page 101 and 102: Table 11: The Quality Assurance Com
Page 103 and 104: NMMU NPDE NQF NSA NSDS NSF NSMSTE N
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