BANKSETA ANNUAL REPORT 2023

ANNUAL FINANCIAL STATEMENTS NOTES TO THE ANNUAL FINANCIAL STATEMENTS for the year ended 31 March 2023

6.

PAYABLES FROM EXCHANGE TRANSACTIONS

2022/23

2021/22

R’000

R’000

Salary related payables

314

292

Sundry payables

9 301 4 719 1 777 2 805

6 498 2 065 1 618 2 809

Trade payables

Other accrued expenses

Leave accrual Sundry creditors

-

6

9 615

6 790

The effect of discounting was considered and found to be immaterial.

7. PAYABLES FROM NON-EXCHANGE TRANSACTIONS

2022/23

2021/22

R’000

R’000

Skills development grants payable - mandatory

18 348

17 078

Employer payables

32

1 574

Project grants payable - discretionary

95 883 114 263

85 271 103 923

The effect of discounting was considered and found to be immaterial.

8.

PROVISIONS

Opening balance

Over/under provision Addition Paid/reversed

Closing balance

2022/23

R’000

R’000

R’000

R’000

R’000

Levies incorrectly received*

1 418

-

126

-

1 544

Provision for incentive bonus** Levy funds received in excess of allocation per levies files***

9 311

1 739

12 500

(11 050)

12 500

33 770 44 499

-

-

-

33 770 47 814

Total

1 739

12 626

(11 050)

156

PART F: FINANCIAL INFORMATION | BANKSETA ANNUAL REPORT 2022/23