ELRC 202324 Annual Report

Financial Statements for the year ended 31 March 2024 EDUCATION LABOUR RELATIONS COUNCIL | 2023/24 ANNUAL REPORT

NOTES TO THE ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (cont.)

Note 15 (cont.)

Key Management Personnel

Key management information

Class

Description

Number of members

Executive members

Accounting Authority

11

Non-executive members

Accounting Authority

3

Executive management

Accounting Officer/Executive

1

Senior management

Management

4

Related party transactions Fees paid to related parties in respect of services rendered

2024 R

2023 R

347 460

318 918

Dr L. Bono*

*This relates to the fees paid for services rendered by the independent Chairperson as a panellist in matters of arbitration or dispute resolution and for legal opinion issued on consultation basis. The Chairperson’s decisions in dispute resolution and arbitration matters do not affect the financial position of the Council.

Executive emoluments (Chairperson’s fees)

2024 R

2023 R

Dr L. Bono

171 000

175 000

Members of the ELRC Executive committee did not receive emoluments during the financial year as per collective agreement. The Board fees to date amount to R171,000 and were only paid to Advocate L. Bono.

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