GPW_AR_2013_Final_v10.pdf

Strategic objectives per annual performance plan: Provide quality ½ nancial and supply chain management services in compliance with legislation and with client needs to contribute towards ½ nancial sustainability Strategic objectives, performance indicators, planned targets and actual achievements: The GPW was able to exceed the revenue target. Targets not achieved included debtors’ days, gross pro ½ t margin and inventory turnover ratio.The variances are explained in the table below.The actual achievements against the targets demonstrate the ½ nance division’s contribution to improved accountability and sustainability.

&VERGL ½RERGI

Deviation from planned

Actual achievement 2012/13

Strategic objectives

Actual achievement 2011/12

Planned target 2012/13

Comment on deviations

target to actual achievement for 2012/13

Provide quality ½ nancial and supply chain management services in compliance with legislation and with client needs to contribute towards ½ nancial sustainability

Unquali ½ ed audit opinion was received for the 2010/11 ½ nancial year. 2011/12 audit is still in the process of being completed and will be reported on in the second quarter of 2012 During the 2009/2010 external audit, 10 ½ ndings related to non-compliance of ½ nancial related policies. During the 2010/2011 audit this increased to 13, resulting in a 30% increase in ½ ndings. No internal audit ½ ndings related to ½ nancial related policies reported. New target

Maintain unquali ½ ed audit opinion

Maintained unquali ½ ed audit opinion for 2012

Target achieved

-

50% client satisfaction index 5% reduction in audit ½ ndings

80% client satisfaction index 7.6 % reductions based on 2011 audit report

Target exceeded

Target exceeded -

12 days

10 days turnaround times in monthly and quarterly ½ nancial management and performance reports

10 days ½ nancial management reports

Target achieved for ½ nancial reports but not for performance reports

Performance reports were submitted within the range of between 32 to 35 days after quarter end. Monitoring will be enhanced

> 30 days for performance reports

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GPW ANNUAL REPORT 2012 | 2013