ELRC 202324 Annual Report

EDUCATION LABOUR RELATIONS COUNCIL | 2023/24 ANNUAL REPORT

L EDUCATION LABOUR RELATIONS COUNCI

3.4 Programme 4: Finance and Supply Chain Management Services

Purpose The purpose of Programme 4 is to ensure that contracts for goods and services are concluded in accordance with a system that is fair, equitable, transparent, competitive and cost effective, as per section 217 of RSA Constitution. Strategic Objectives • Provide a compliant internal control and sound financial management service. • Implement a new procurement and sourcing strategy to reduce procurement turn-around times and improve the efficiency and effectiveness of our procurement spend. • Provide a sound asset management service that includes safeguarding and maintenance of our assets. • Implement reporting tools to minimise unauthorised and irregular expenditure, and eliminate fruitless and wasteful expenditure.

Finance KPIs, Planned Targets and Actual Achievements

Finance

Deviation from planned target to Actual Achievement for 2023/24

Actual Achievement 2023/24

Programme Performance Indicator

Planned Target 2023/24

Comment on deviations

Actual Achievement 2022/23

Status

To provide a compliant internal control and sound financial management service Achieve an unqualified audit opinion from external audit at year end Achieved Council received an unqualified audit opinion for the FY2022/23 Achieve unqualified audit opinion of the audited Achieved Achieved unqualified audit opinion of the audited annual

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annual financial statement from external audit at year-end

financial statement from external audit at year-end

Compliant and accurate budget management aligned to the annual performance plan An approved accurate and comprehensive MTEF Budget Achieved An accurate and None

Achieved An accurate and comprehensive MTEF Budget FY2024/25 was approved by EXCO on 4 March 2024 FY2023/24 Mid Year budget was approved by EXCO on 6 November 2023

Receive approval of an accurate and comprehensive FY2024/25 MTEF Budget and Mid-Year review of the budget FY2023/24 from EXCO

comprehensive MTEF budget FY 2023/24 approved by EXCO on 27 Mar 2023 Mid-Year review of the budget FY2022/23 approved on 2 November 2022

FY2024/25 and Mid-Year review of the budget FY2023/24

Overview of the Finance Department’s Performance for the 2023/24 Financial Year The Finance unit produced annual financial statements for 2023/24. After review by the Chief Financial Officer (CFO) and the Internal Audit unit (IA), these were submitted for audit by the external auditors. The external auditors issued an unqualified audit opinion on the financial statements.

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