Annual Financial Statements 2011/12 Action plan

1. Annual Financial Statements 2011/12 Action plan Presentation to Portfolio Committee 17-18 April 2012 Cape Town Chief Financial Officer

2. Presentation lay out • Challenges • Action plan to overcome challenges • Activities to be addressed during compilation of AFS • Important dates

3. Challenges • Capacity constrains • Vacant senior managers posts • 2 Chief directors • Director Financial Accounting • 2010/11 qualified audit outcome • No capacity from the National Treasury and DBSA • Interim Audit outcomes

4. Action Plan to overcome the challenges • Establish an AFS project team, which will consist of: • Deputy director policy and monitoring( project leader) • Deputy director reporting, expert on AFS • Members from Internal Audit, will verify reconciliations and inputs to AFS • Possible appointment of contract workers at senior level and also on production level • Approach some departmental entities who are willing to assist eg waterboards • National Treasury will final check AFS prior to submission to AG

5. Action Plan to overcome the challenges : CONTINUE • Develop action plan with tight time frames • AFS inputs to be signed off by the responsible managers, this will ensure quality inputs • BPR support • AFS inputs files to be prepared as evidence to the different notes to the AFS • Trial Balance meetings, to ensure reliable AFS data • Address all interim audit outcomes

6. Activities to be addressed during the AFS • Attend to 2010/11 audit matters raised • Inform all responsible role players regarding final input dates • Attend to year end BAS and LOGIS procedures • Attend to new code structures from NT • Request NT regarding any Budget virement • Revenue emanating from Roodeplaat Training Centre • Compensation of employees data

7. Activities to be addressed during the AFS : Continue • Gifts/Donations/Sponsorship information • Conditional grants/Donor funding inputs • Transfer payments • Suspense accounts inputs • Bank account reconciliations • Staff debt and state loans to irrigation boards etc • Advances issues to staff and implementing agents • Contingent Liabilities from legal services

8. Activities to be addressed during the AFS : Continue • Inter departmental claims reconciliation • Appropriation statement compilation • Unauthorised, irregular, fruitless and wasteful expenditure report • Accounting policy sign off • Accounting officers report • Stock and inventory counts and reporting • Complete and accurate asset register

9. IMPORTANT DATES REGARDING THE AFS • Letters to responsible managers to inform them about required and standard of information : 20 March • BAS closure, 20 April • Consolidation of all inputs by project team: 11 May • Readiness of draft AFS: 16 May • Quality assurance by IA: 18 May • NT and BPR to verify and possible adjustments by 21 May

10. IMPORTANT DATES REGARDING THE AFS • Final AFS 22 May • Tabling of AFS to Audit Committee: 24 May • DG to sign off AFS and Annual Report 29 May • Submit to AG 31 May • AG audit AFS during June and July • Final management letter and Audited AFS to DWA end of July

11. THANK YOU