GDF Annual Report - Gauteng Provincial Treasury

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SECTION 3: REPORT ON THE PERFORMANCE OF PROGRAMMESKEY ACHIEVEMENTSThe following are the Major Achievements of GFAduring the 2010/11 financial year:Securing alternative fundingIn 2010/11 GFA sourced out projects from sectordepartments to raise alternative funding. A pipeline of8 infrastructure projects was created and was approvedby EXCO with the mandate to GFA to raise alternativefunding. The projects are:• Upgrading and refurbishment of 6 hospitals in theprovince.ProjectUpgrading and refurbishment of 6 hospitals in the provinceThe Hospital Information System (HIS).Kopanong Precinct Project.Construction and refurbishment of 132 schools in the province.Construction, rehabilitation and maintenance of identified roads in theprovince.Lufhereng Mixed Housing Development Project.Sedibeng Regional Sewer Project.Gauteng Land Fund.• The Hospital Information System (HIS).• Construction and refurbishment of 132 schools inthe province.• Lufhereng Mixed Housing Development Projec.t• Kopanong Precinct Project.• Construction, rehabilitation and maintenance ofidentified roads in the province.• Sedibeng Regional Sewer Project.• Gauteng Land Fund.The GFA developed a project support function fordevelopment and preparation of the above listedprojects. The operational guidelines and procedureswere developed within investment policies of GFA.These included techniques and criteria for feasibilityassessments, credit review, project appraisal andfinancial modelling/ structuring and interaction withfunding sources. All projects were taken through theproject development and preparation phase, workingwith respective sector departments who are the projectowners. GFA Project Finance Steering Committee wasestablished to monitor the preparation of these projectson a monthly basis. By the end of the financial year thedevelopment and preparation of projects was at differentstages and below is the summary status of each project:Project Progress StatusProject development phase completed.Funding structure proposals completed.Awaiting transaction closure and implementation. To be completed in 2011/12.Project development phase completed.Funding structure proposals completed.Awaiting transaction closure and implementation. To be completed in 2011/12.Project development phase completed.Funding structure proposals completed.Awaiting transaction closure and implementation. To be completed in 2011/12.Project develop phase in progressFunding structure, transaction closure and implementation to be completed in 2011/12.Project develop phase in progress.Funding structure, transaction closure and implementation to be completed in 2011/12.Project suspended.Project develop phase in progress.Funding structure, transaction closure and implementation to be completed in 2011/12.Project develop phase in progress.Implementation to be completed in 2011/12.130130Annual Report 2010 / 2011
SECTION 3: REPORT ON THE PERFORMANCE OF PROGRAMMESImplementation of the Business CaseOne of the major categories of work that must beperformed to achieve our strategy as outlined in thebusiness case, is setting up the investment facilitiesof GFA, namely, the Project Preparation Facility,Discretionary Facility and Leveraged Facility. The majorachievement in this regard was the development andcompletion of policies related to these services. Thepolicies provided the mandate, investment guidelinesand operational procedures for each facility.Establishment of Strategic PartnershipsThe GFA successfully established a partnership withthe Development Bank of Southern Africa. A MandateAgreement was concluded with DBSA in which theDBSA is mandated as the Lead Arranger, Financier andUnderwriter. GFA is working with DBSA on the followingprojects, and a level of success has been achieved sofar as indicated in the Table on 4.1; Upgrading andrefurbishment of hospitals, HIS, construction of schoolsand construction of roads.Restructuring and Organisational DevelopmentIn carrying out the EXCO mandate of 2009 that theGauteng Fund Project Office and Gauteng PartnershipFund should merge to establish the GFA, a restructuringprocess was carried out to develop one organisationthat would implement the strategies outlined in theapproved business case. The following was achieved in2010/11 financial year:• A restructuring process was undertaken and anew organisational structure was developed andapproved.• Matching and placing framework was developedto place the current staff into the new structure.• Organisational policies that outline processes,systems and procedures for HR, Finance, ICT andCorporate Services were developed.• Communications policy and Communications andMarketing Strategy were developed.• HR policies for training and development,recruitment and retention and performancemanagement were developed.Risk ManagementGFA took part in the risk management processesof the Department of Finance and was part of thedepartment’s Risk Management Committee. GFAidentified the risks associated with the organisationfor 2010/11 and developed mitigation plans. Top 13Risks were identified which led to the creation of anAction Plan and Operational Fraud Risks for 2010/11.These included the Department’s Risk ManagementMonitoring Plan of 2010/11.Compliance with Regulatory Reporting RequirementsGFA developed the Strategic Planning and PerformanceInformation Management Framework that outlines theorganisation’s strategic planning process and howperformance planning, monitoring, measurementand reporting is conducted. The framework alsoassisted with performance evidence gathering andmanagement.OUTLOOK FOR THE YEAR AHEAD(2011/2012)The GFA will focus on the achievement of the followingkey objectives in 2011/12:To be a centre of excellence in the public sector instrategic infrastructure financing solutionsTo achieve this objective GFA will build the capacity inall its key areas of operations. This includes creating aresearch capability that will provide best practices andinnovative solutions and knowledge management inproject finance. The key outputs would be:• Development of the research agenda.• Establishment of research and knowledgemanagement function.To ensure sound corporate governance in the GFA andto provide effective and efficient resource managementservices GFA plans to put in place all the necessaryrequirements to ensure that good governance ispracticed and its resources are managed in line withGauteng Department of Finance131
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Annual Report2010/11Building a resu
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FOREWORD BY THE MECAs an activist,
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EXECUTIVE SUMMARYThe 2010/2011 fisc
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SECTION 6:OVERSIGHT REPORT
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GDF Annual Report - Gauteng Provincial Treasury

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