BANKSETA ANNUAL REPORT 2023

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D r i v i n g D

PFMA COMPLIANCE REPORT

1. IRREGULAR EXPENDITURE

Irregular expenditure means expenditure, other than unauthorised expenditure, incurred in contravention of, or not in accordance with, a requirement of any applicable legislation, including:

- The Public Financial Management Act, 1999 (Act No. 1 of 1999) (PFMA); - The Skills Development Act, 1998 (Act No. 97 of 1998) as amended; - Instructions and circulars issued by the National Treasury.

The BANKSETA may have received value for such irregular expenditure.

Irregular expenditure is recorded in the annual report when it is either -

a) confirmed; b) under assessment, determination and/or investigation;

c) condoned by the relevant authority; or d) transferred to receivables for recovery; or e) written off if it is not recoverable; or f) not condoned and removed.

a) Reconciliation of Irregular Expenditure

Description

2022/23

2021/22

R’000

R’000

Opening balance

23 939

22 641

Add : Irregular expenditure confirmed Less: Irregular expenditure condoned

1 576

1 298

(1 417) (3 915)

- - - -

Less: Irregular expenditure not condoned and removed

Less; Irregular expenditure recoverable

- -

Less: Irregular expenditure not recovered and written off

Closing balance

20 183

23 939

109

BANKSETA ANNUAL REPORT 2022/23