Annual Report 2008/2009 - Umalusi

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Notes to the Annual Financial Statements (continued) For the year ended 31 March 2009 9. Staff costs Administrative staff 13,899,568 10,551,328 Key management 5,382,082 3,921,681 2009 R 2008 R 19,281,620 14,473,009 10. Other operating expenses Other operating expenses include Auditors remuneration 322,111 302,100 Statutory audit 204,775 214,388 Internal audit services 117,336 87,712 Certification expense 3,073,709 1,651,516 Council members remuneration 222,549 149,952 Consulting fees 856,299 1,147,037 Gain on disposal of property, plant and equipment - 5,365 Impairment of trade and other receivables - 284,492 Moderator and verifier costs 5,111,316 4,309,909 Operating lease payments 62,610 284,968 Travel and accommodation – local 4,548,589 3,205,478 2009 R 2008 R 11. Investment revenue Interest income - Bank deposit 2,811,885 1,586,972 2009 R 2008 R 12. Cash generated from operations 2009) R) Surplus for the year 5,055,989) 5,126,209) Adjustment for: Depreciation and amortisation 1,230,423) 799,415) Gain on disposal of property, plant and equipment -) (5,365) Investment revenue (2,811,885) (1,586,972) Cash generated from operations before working capital changes 3,474,527) 4,333,287) Decrease / (increase) in trade and other receivables 4,988,893) (670,839) Increase in trade and other payables 2,373,117) 1,020,756) 2008) R) Cash generated from operations 10,836,537) 4,683,204) 5 2 U M A L U S I A N N U A L R E P O R T 2 0 0 8 / 9
Notes to the Annual Financial Statements (continued) For the year ended 31 March 2009 13. Commitments Authorised capital expenditure Already contracted for: 2009) R) Property, plant and equipment - 297,824 Not yet contracted for, but approved 1,334,952 2,962,723 2008) R) 1,334,952 3,260,547 The committed expenditure in 2008 related to an electric generator which was acquired during the year for the cost as per the commitment. Operating leases Minimum lease payments due – office equipment 2009) R) Within one year 62,610 53,798 In second to fifth year inclusive 98,753 161,363 2008) R) 161,363 215,151 14. Related parties In accordance with circular 04/02 issued by the South African Institute of Chartered Accountants, Umalusi is a related party to all national government departments, public entities listed in the Public Finance Management Act and their subsidiaries. The entity also has related party relationships with its key management, Associated Institutions Pension Fund and Council members. The parties as detailed below had the following transactions / balances with the entity: 2009 SITA Telkom Nature of relationship Transactions R Balance receivable (payable) at year-end R Terms Affiliated Companies by Government 1,979,992.61 - - Affiliated Companies by Gov ernment 297,014.29 - - 2009 Department of Education Responsible Ministry 16,044,000 - - Council members Key management 97,722 - - Senior management Key management 5,363,199 - - Associated Institutions Pension Fund Associated Institution 1,074,920 - - 5 3 U M A L U S I A N N U A L R E P O R T 2 0 0 8 / 9
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A N N U A L R E P O R T 2 0 0 8 / 9
Page 4 and 5: Acronyms ABET Adult Basic Education
Page 6 and 7: “Umalusi renewed its focus on mai
Page 8 and 9: “I was filled with great pride ab
Page 10 and 11: Letter from the outgoing Chief Exec
Page 12 and 13: “This is not the time for resting
Page 14 and 15: DR MAFU S RAKOMETSI PROF M FOURIE P
Page 16 and 17: Corporate Governance Report (contin
Page 18 and 19: “Umalusi’s work was effected wi
Page 20 and 21: Report on Operations (continued) Wh
Page 22 and 23: Report on Operations (continued) Ou
Page 24 and 25: Report on Operations (continued) DR
Page 30 and 31: Report on Operations (continued) EM
Page 32 and 33: Report on Operations (continued) PR
Page 34 and 35: Report on Operations (continued) JE
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Page 38 and 39: Annual Financial Statements For the
Page 40 and 41: Report of the Independent Auditors
Page 42 and 43: Report of the Council (continued) F
Page 44 and 45: Statement of Financial Position At
Page 46 and 47: Notes to the Annual Financial State
Page 48 and 49: Notes to the Annual Financial State
Page 50 and 51: Intangible assets are initially rec
Page 52 and 53: 2. Property, plant and equipment No
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Page 58 and 59: Detailed Statement of Financial Per
Page 60 and 61: Human Resources Management and Deve
Page 70: Staff 2008 to March 2009 Management
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Annual Report 2008/2009 - Umalusi

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