Economic Development Annual Report

Annual Report 2023/2024 Mpumalanga: Department of Economic Development and Tourism - Vote 6

Department of Economic Development & Tourism (Vote number 6) Financial Statements for the year ended March 31, 2024 Notes to the Appropriation Statement

1. Detail of transfers and subsidies as per Appropriation Act (after Virement): Detail of these transactions can be viewed in the note on Transfers and subsidies, disclosure notes and Annexure 1 (A-H) to the financial statements. 2. Detail of specifically and exclusively appropriated amounts voted (after Virement): Detail of these transactions can be viewed in note 1 Annual appropriation to the financial statements. 3. Detail on payments for financial assets Details of these transactions per programme can be viewed in the note on Payments for financial assets to the financial statements. Department of Economic Development & Tourism (Vote number 6) Financial Statements for the year ended March 31, 2024 Notes to the Appropriation Statement

4. Explanations of material variances from Amounts Voted (after Virement): 4.1 Per programme Figures in Rand thousand Final Appropriation Actual Expenditure

Variance as a % of Final Appropriation

Variance

Administration

116,249 742,441 40,991

116,210 740,428 26,515

39

- %

Integrated Economic Development Trade and Sector Development

2,013 14,476

0.3 % 35.3 %

Business Regulation and Governance

130,114 19,018 538,066

127,006 18,365 537,585

3,108

2.4 % 3.4 % 0.1 %

Economic Planning

653 481

Tourism

Programme 2 Compensation of employees Compensation of Employees is underspending due to the vacant budgeted posts of Senior Managers that have not yet been filled.

Goods and services The overspending on Goods and Services was affected by a large account received from Department of Public Works Road and Transport for facility costs close to the end of financial year.

Transfers and subsidies Transfers to MEGA are made in line with the approved cashflow that was submitted by the entity and approved.

Payments for Capital assets The MIFPM is paid according to progress on site and the facility is almost complete with the budget made available.

49

Programme 3 Compensation of employees The appointment of the Director: Sector Development has not yet been finalised.

253

Goods and services The Town Planner has submitted the required work, however Service Level Agreement validity period had to be extended from