BANKSETA AR 31 AUGUST

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

19. MATERIAL LOSSES THROUGH CRIMINAL CONDUCT, IRREGULAR, FRUITLESS AND WASTEFUL EXPENDITURE (CONTINUED)

2021/22

2020/21

R’000

R’000

Opening balance

22 641

21 154

Add: Irregular expenditure - current year Less: amounts condoned by National Treasury

1 298

1 487

-

-

Less: correction of prior year’ errors in recognition of irregular expenditure Closing balance of expenditure awaiting condonation/to be recovered

-

-

23 939

22 641

Irregular expenditure awaiting condonation

23 939

22 641

-

Irregular expenditure where BANKSETA has applied for condonation Irregular expenditure under determination and assessment Irregular expenditure awaiting DHET to process condonation

2 970

18 300

22 641

-

2 669

Total irregular expenditure awaiting condonation

23 929

22 641

19.1 Analysis of expenditure awaiting condonation per age classification 2015/16

125 101

125 101 3 109

2016/17 2017/18 2018/19 2019/20 2020/21 2021/22

3 109

10 318

10 318

7 501 1 487 1 298

7 501 1 487

Total

23 939

22 641

19.2 Fruitless and wasteful expenditure There were no losses experienced due to fruitless and wasteful expenditure in the current or previous year. There is no balance of fruitless and wasteful expenditure awaiting condonation.

176

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