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

Figures in Rand thousand Figures in Rand thousand Figures in Rand thousand

Note(s) 2023/2024 Note(s) 2023/2024 Note(s) 2023/2024

2022/2023 2022/2023 2022/2023

26. Prior period errors 26.1 Correction of prior period errors Figures in Rand thousand 26. Prior period errors 26.1 Correction of prior period errors Figures in Rand thousand 26. Prior period errors 26.1 Correction of prior period errors Figures in Rand thousand

2022/2023 Prior period 2022/2023 Prior period 2022/2023 Prior period error error error

Note Note Note

Amount bef error correction Amount bef error correction Amount bef error correction

Restated amount Restated amount Restated amount

Assets: (e.g. Receivables, Investments, Accrued departmental revenue, Movable tangible capital assets, etc.) 1. Fruitless and wasteful expenditure 2. Contingent asset- Case number: 6685/09/Z3 Assets: (e.g. Receivables, Investments, Accrued departmental revenue, Movable tangible capital assets, etc.) 1. Fruitless and wasteful expenditure 2. Contingent asset- Case number: 6685/09/Z3 Assets: (e.g. Receivables, Investments, Accrued departmental revenue, Movable tangible capital assets, etc.) 1. Fruitless and wasteful expenditure 2. Contingent asset- Case number: 6685/09/Z3 3. Key management personnel 4. Advance payment to MEGA 3. Key management personnel 4. Advance payment to MEGA 3. Key management personnel 4. Advance payment to MEGA

- - - - - -

6,765 (2,712) (891) 6,765 (2,712) (891) 6,765 (2,712) (891) 33,783 36,945 33,783 36,945 33,783 36,945

6,765 6,765 6,765 13,883 33,783 54,431 13,883 33,783 54,431 13,883 33,783 54,431 - - -

2,712 14,774 2,712 14,774 2,712 14,774 17,486 17,486 17,486

Net effect Net effect Net effect

1. The above relates to an investigation that was conducted to verify if expenditure in relation to the placement of unemployed youth by a service provider (Lulaway) was justified or not. A Legal opinion was sought during the 2023/24 financial year from the State Attorney to verify the correctness of the outcome from the investigation report. The opinion concluded that the expenditure was justified. 2. Case number: 6685/09/Z3 - The Department sought a legal opinion and was advised to remove the matter since it had prescribed in terms of the Prescription Act. 3. Key management personnel – the prior years disclosure on key management personnel incorrectly included subsistence travel costs paid to officials. 4. Advance payment made to MEGA for the implementation of the Mpumalanga International Fresh Produce Market (MIFPM). 1. The above relates to an investigation that was conducted to verify if expenditure in relation to the placement of unemployed youth by a service provider (Lulaway) was justified or not. A Legal opinion was sought during the 2023/24 financial year from the State Attorney to verify the correctness of the outcome from the investigation report. The opinion concluded that the expenditure was justified. 2. Case number: 6685/09/Z3 - The Department sought a legal opinion and was advised to remove the matter since it had prescribed in terms of the Prescription Act. 3. Key management personnel – the prior years disclosure on key management personnel incorrectly included subsistence travel costs paid to officials. 4. Advance payment made to MEGA for the implementation of the Mpumalanga International Fresh Produce Market (MIFPM). 1. The above relates to an investigation that was conducted to verify if expenditure in relation to the placement of unemployed youth by a service provider (Lulaway) was justified or not. A Legal opinion was sought during the 2023/24 financial year from the State Attorney to verify the correctness of the outcome from the investigation report. The opinion concluded that the expenditure was justified. 2. Case number: 6685/09/Z3 - The Department sought a legal opinion and was advised to remove the matter since it had prescribed in terms of the Prescription Act. 3. Key management personnel – the prior years disclosure on key management personnel incorrectly included subsistence travel costs paid to officials. 4. Advance payment made to MEGA for the implementation of the Mpumalanga International Fresh Produce Market (MIFPM).

Figures in Rand thousand Figures in Rand thousand Figures in Rand thousand

2022/2023 2022/2023 2022/2023

Note Note Note

Amount bef error correction Amount bef error correction Amount bef error correction

Prior period error Prior period error Prior period error

Liabilities: (e.g. Payables current, Voted funds to be surrendered, Commitments, Provisions, etc.) Contingent liability: Case number 34502/2010 Liabilities: (e.g. Payables current, Voted funds to be surrendered, Commitments, Provisions, etc.) Contingent liability: Case number 34502/2010 Liabilities: (e.g. Payables current, Voted funds to be surrendered, Commitments, Provisions, etc.) Contingent liability: Case number 34502/2010

1,078,000 1,078,000 1,078,000

(1,078,000) (1,078,000) (1,078,000)

Matter removed from the contingent liabilities - the Department is not a party to the dispute. Matter removed from the contingent liabilities - the Department is not a party to the dispute. Matter removed from the contingent liabilities - the Department is not a party to the dispute.

79 79 79

281