BANKSETA AR 31 AUGUST

ANNUAL FINANCIAL STATEMENTS NOTES TO THE ANNUAL FINANCIAL STATEMENTS for the year ended 31 March 2022

18.

COMMITMENTS (CONTINUED)

18.1.2 In certain cases, the SETA enters into multi-year contracts whereby only the first year amount is unconditional and future years’ amounts are dependent on several suspensive conditions which normally include satisfactory execution of the deliverables by the service provider, the SETA’s continued need for the service, the availability of funds for that year and approval by the board. The SETA only discloses the commitment of the year where all suspensive conditions have been met as a commitment. The amounts that are still subject to suspensive conditions and are not included in commitments are shown below: 2021/22 2020/21 Notes R’000 R’000 Amounts for 2021/22 year - 34 095 Amounts for 2022/23 year 33 572 26 022 Amounts for 2023/24 year 13 130 -

46 702

60 117

Total contracts with suspensive conditions

2021/22

2020/21

18.2 Other commitments

Notes

R’000

R’000

Capital expenditure

Office furniture and fittings

45 45

-

Total

As at 31 March 2022, The BANKSETA had placed orders for office furniture and fittings, which were delivered a few days after year end.

18.3 Operating leases

Total of future minimum lease payments under non-cancellable leases:

2021/22

2020/21

R’000

R’000

Not later than one year

3 877 11 923 2 298 18 098

3 577 14 567 3 351 21 495

Later than one year and not later than five years

Later than five years

174

PART E: FINANCIAL INFORMATION | BANKSETA ANNUAL REPORT 2021/22