BANKSETA ANNUAL REPORT 2023

PFMA COMPLIANCE REPORT

f) Details of current and previous year irregular expenditure removed - (not condoned)

During the year, National Treasury did not condone irregular expenditure in regard to board fees arising from non-compliance with legislation in the appointment of five board members in 2020. The Accounting Authority removed this expenditure amounting to R3 915 000. This non-compliance was due to inter institutional arrangement where the BANKSETA was not responsible for the non-compliance. The total irregular expenditure removed was for irregular expenditure that was incurred in the following years.

Description

R’000

In the current year (2022/23)

1 246 2 669 3 915

In prior years (2020/21 and 2021/22)

Total

g) Details of current and previous year irregular expenditure recovered

There was no current and prior year irregular expenditure recovered or recoverable.

h) Details of current and previous year irregular expenditure written off (irrecoverable)

There was no current and prior year irregular expenditure written off (irrecoverable).

i) Additional disclosure relating to Inter-Institutional Arrangements

Details of non-compliance cases where an institution is involved in an inter-institutional arrangement (where such institution is not responsible for the non-compliance).

Description

2022/23

2021/22

R’000

R’000

Amounts relating to non-compliance cases where an institution is involved in an inter-institutional arrangement where BANKSETA was not responsible for the non-compliance.

1 246

1 298

Total

1 246

1 298

The BANKSETA incurred irregular expenditure through board fees paid to five Accounting Authority members whose appointment was not compliant with the legislation. DHET was responsible for the process of appointment of the Accounting Authority members. j) Details of non-compliance cases where an institution is involved in an inter-institutional arrangement (where such institution is responsible for the non-compliance) There were no cases non-compliance cases where BANKSETA was involved in an inter-institutional arrangement where BANKSETA is responsible for the non-compliance.

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BANKSETA ANNUAL REPORT 2022/23