BANKSETA ANNUAL REPORT 2023

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

9. ALLOCATION OF NET (DEFICIT)/SURPLUS FOR THE YEAR TO RESERVES

Employer grants reserve Mandatory skills grant

Discretionary reserve

Total per statement of financial performance 2022/23

Administration reserve

Total per statement of financial performance 2021/22

Total discretionary 2022/23

2022/23

2022/23

R’000

R’000

R’000

R’000

R’000

1 020 552

123 005

234 024

663 523

895 963

Total revenue

Skills development levy: income from non-exchange transactions: Employer grant levy income (20%) Discretionary grant levy income (49.5%) Admin levy income (10.5%) Skills development levy: penalties and interest income from non-exchange transactions Investment revenue from exchange transactions

234 024

-

234 024

-

199 053

579 348

-

-

579 348

500 445

122 884

122 884

-

-

105 723

8 537

-

-

8 537

43 023

75 638

-

-

75 638

47 613

Other revenue from exchange transactions

121

121

-

-

106

(1 113 954)

(98 830)

(228 570)

(786 554)

(800 802)

Total expenses

Administration expenses Employer grants Discretionary grant project expenses

(98 830) (228 570)

(98 830)

-

-

(84 031)

- (194 101) *

-

(228 570)

*

786 554

-

-

(786 554)

(522 670)

Net (deficit)/surplus per statement of financial performance allocated

(93 402)

24 175

5 454

(123 031)

95 161

Presentation of prior year employer grant and discretionary grant expenses aligned to current year presentation. Refer note 30 for the reconciliation.

158

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