BANKSETA ANNUAL REPORT 2023

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

PROGRAMME: QUALITY ASSURANCE Assessment centre 620 112 31 - (143) - - - - - - - Provision for general management 594 270 - - - (270) - - - - - - Total Quality Assurance 382 31 - (143) (270) - - - - - -

PROGRAMME: MARKETING Career development teachers 740 - - - - - - 1 221 - (586) - 635 Total marketing programmes - - - - - - 1 221 - (586) - 635

March 2023

New commitments R’000 R’000 R’000 R’000 R’000 R’000 R’000 R’000 R’000 R’000 R’000 existing contracts Write backs and other adjustments Authority 2022/23

Closing balance 31

2022/23

2022/23

performance

Charged to statement of financial

2022/23

Increases to

approved by Accounting

18.1 Discretionary reserve Of the balance of R964 938 000 (2021/22: R1 059 291 000) available in the discretionary reserve as at year-end, R926 398 000 (2021/22 restated R1 081 456 000) has been committed by the Accounting Authority for future projects and skills priorities shown below. Note that the definition of commitments by the Accounting Authority includes signed contracts and memoranda of agreements up to year-end - 31 March 2023 (2021/22 - year end - 31 March 2022). Amounts for expenses that have already been incurred, and therefore included in grant expenses in the statement of financial performance, are also indicated. BANKSETA will make a request for retention of the reserve funds to National Treasury and DHET in August 2023 as provided for in the legislation. Commitments R’000 Project Name Project number Opening balance 31 March 2021 New commitments approved by Accounting Authority Increases to existing contracts 2021/22 Charged to statement of financial performance 2021/22 Write backs and other adjustments 2021/22 Opening balance 31 March 2022

18. COMMITMENTS

168

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