RAND WATER ANNUAL REPORT 2023

HOW WE CREATE VALUE

Roadmap to a Clean Audit (RMCA) Programme The RMCA Programme comprises of four initiatives, namely, RMCA Audit Response Plan; Root Cause Analysis (RCA) for AGSA Findings; Fruitless, Wasteful and Irregular Expenditure (FWIE) Quantification and the External Review and Assessment Project. The year under review resulted in no new irregular expenditure incurred as a result of the effectiveness of the road map to clean audit programme. The table below depicts the journey of the programme and reflects substantial progress in executing the programme throught the organisation.

Organisation Wide Change Management Programme (Cascading The Rand Water Strategy)

Programme & Project Collaboration, Partnership, Integration Management and Alignment

RMCA Programme

88% Average Weighting

78% Average Weighting

76% Average Weighting

100%

External Review and Assessment Phase 3-5% Effort Weighting % -10

RMCA Audit Response plan (FY2023-56%)

External Review and Assessment Phase 0 and 1-100% Phase 2 100% Effort Weighting % 15/40/20

Root Cause Analysis (RCA) FY2022-79% FY2021-97% FY2020-95%

Fruitless and Wasteful Expenditure (FWIE)

RMCA Audit Response plan (FY2022-99%)

External Review & Assessment Phase 4-0% Phase 5-0% Effort Weighting % -5/10

Complete

Not Started

In Progress

Benefit Funds Rand Water Group Life Scheme

Rand Water Group Life Scheme is an Unapproved Group Scheme, underwritten by Old Mutual. All permanent employees, as well as fixed term contract employees with contracts of three years continuous service, enjoy benefits under the Scheme. The Scheme provides lumpsum death and lumpsum disability benefits. Employees are covered for four times annual earnings. The lumpsum disability benefits is subject to a maximum cover of R8.5 million. Employees may exercise the conversion option should they leave the service of Rand Water. The Medical Free Cover Limit is R16 million. A Funeral Support Service is also made available for the employees, their spouses, and dependent children at no additional cost under the Scheme. A premium refund option is also available under the Scheme based on a predetermined and contracted formulae.

83