Annual Report 2007/2008 - Umalusi

Report of the Councilfor the year ended 31 March 2008 (continued)Whilst the Council is encouraged by the significant improvements undertaken by management in implementingsound financial management practices and good corporate governance, the internal control weaknesses in thefollowing areas came to the Council’s attention during the current financial year:asset management; andrevenue management.As a result of the onerous obligations of the PFMA and the failure to comply with all the statutory prescripts of thePFMA, the Council wishes to highlight the substantial progress that has been made in redefining thefoundation for sound internal control within the entity, and is committed to implementing improvements in keyareas, including the enhancement of asset and revenue management processes.7. Council membersThe Council members during the year and to the date of this report are as follows:Prof JD Volmink (Chairperson)Mr J Pampallis (Deputy Chairperson)Mr GR AgocsProf M FourieProf SG MabizelaDr MA MakhafolaMs J NaidooMr L NengovhelaDr RA PatelMr MS RakometsiProf IL RensburgDr ZC SosiboDr PJN SteynMs PT TyobekaProf DS Zinn (Appointed on 14 March 2008)Prof L Chisholm (Resigned on 16 November 2007)8. SecretaryThe secretary of the Council is Mr EP du Plooy :Business address: 37 General van Ryneveld Street Postal address: Postnet Suite 102Persequor TechnoParkPrivate Bag X1PretoriaQueenswood0121 Pretoria, 01219. AuditorsGobodo Incorporated were appointed as auditors with effect from 1 April 2005.10. ApprovalThe annual financial statements set out on pages 34 to 46, which have been prepared on the going concern basis,were approved by Umalusi Executive Committee of Council on 30 June 2008 and were signed on its behalf by:PROF JD VOLMINKChairpersonDR PP LOLWANAChief Executive Offi cer33 U M A L U S I A N N U A L R E P O R T 2 0 0 7 / 0 8