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NATIONAL TREASURY

Highlights of FY05, audited financial statements, measurable objectives & output targets, HR planning, achievements and developments during 2004/05.

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NATIONAL TREASURY

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  1. NATIONAL TREASURY Presentation to PCOF of Annual Report 2004/05 19 October 2005

  2. Presentation Outline • Highlights of FY05 • Audited financial statements • Measurable objectives & output targets • National Treasury Human Resource Planning

  3. HIGHLIGHTS OF ACHIEVEMENTS AND DEVELOPMENTS DURING 2004/05

  4. Main Highlights National Treasury (1) • 4.1% growth since FY01; approx. 600K jobs (Apr04 - Dec05) • Robust consumer & producer confidence • R12.0 m committed through Project Development Facility • Launched CABRI to enhance budget reform in 2004 • Improved access to financial services e.g. Dedicated Banks & Cooperative Banks Bills • Implementation of the Financial Services Charter • Ongoing work on the retirement fund tax reform • Draft discussion document on “Environmental Fiscal Reform & Environmental Taxes” • Completed Phase 1 of IFMS, Q4 of FY04

  5. Main Highlights National Treasury(2) • Working on tax-related guarantees for 2010 FIFA Soccer World Cup • Issued retail bond = R1.3 bn in first year • Upgrades in sovereign risk rating (Moody’s, Fitch, S&P) • Rolled out the SCM Framework to municipalities • Tabled audited consolidated financial statements in Parliament for FY04 • Finalized the 1999 - 2003 consolidated financial statements • Introduced SCOA in Apr 04 • Launched Pilot Phase of IDIP, Aug 04 (TAs appointed to 9 provincial education, 2 health & 2 roads departments) • 94% of municipalities have MFMA implementation plans (26 000 hits on MFMA Treasury website)

  6. AUDITED FINANCIAL STATEMENTS

  7. Annual Financial Statements 2004/05 • Issued unqualified audit report • Audit & Risk Committees functional • Annual appropriation R14,022 bn • Total savings of R532,0 m surrendered to NRF • Departmental revenue R1,9 bn • Operational budget R761 m • Operational budget savings = R251,8 m (mainly from consultants, financial management systems, lower audit fees, underspending due to vacant posts, delays in refurbishment in Centurion, etc) • R32,8 m approved rolled-overs from 2004/05 (for programmes 2, 3 & 8)

  8. MEASURABLE OBJECTIVES AND OUTPUTS PER PROGRAMME

  9. Prog 1: Administration • Purpose: Provides strategic management, policy advice and administrative support to the National Treasury • Sub-prgms: Ministry; Deputy Minister; Management and Corporate Services. • Corporate Services comprises: Financial Management;Legal Services; Human Resources Management; Information Technology; Communications; Facilities Management and Security Management • All targets met, • Targets partially met incl. implementation of the transformation programme & provision systems and structures for a healthy and safe bus environment

  10. Prog 2: Economic Planning and Budget Management • Purpose: Provides professional advice & support to Minister on economic & fiscal policy, international financial relations, financial regulation, tax, IG financial relations, public financial & management of annual budget process • 4 sub-prgms: Budget Off, Public Fin, IG Relations, & EPIFR • BO, all targets met • PPP registered 53 projects during year in review • PF, all targets met • IG, all targets met, • IGFR published after 2004 elections • EPIFR, met all targets

  11. Prog 3: Asset & Liability Management • Purpose: responsible for prudent management of Government financial assets and liabilities • 5 sub-prgms: management; liability mgt; fin ops; strategy & risk mgt; asset management • Most objectives were achieved • 4 partially met targets were: • Integrated public debt management system • Phase II development of SOEs and contingent liability register • Market risk management policy • Risk management policy on contingent liability.

  12. Prog 4: Specialist Functions • Purpose: manages and regulates Govt’s supply chain processes, implements and maintains standardized financial systems, the PFMA and related other issues. • 3 sub-prgms: supply chain mgt; PFMA impl; & Financial Systems • 9 of 12 target objectives achieved • Contracts awarded to HDIs exceeded expectation (39% instead of 20% planned) • Targets partially met: - Strategic sourcing for 30% of all term contracts - Repeal of State Tender Board - Reports on value of contracts awarded to HDIs

  13. Prog 5: Office of the Accountant General • Purpose: manages and improves accounting policies & practices; ensures compliance with GRAP within the public sector • 6 sub-prgms: national accounts; fin mgt improv; invest of public monies; service charges; contingent liabilities & audit • 11 of 13 target objectives met • Targets met outside of financial year: • Consolidation of annual financial statements, and the backlog

  14. Prog 6:Provincial and LG Transfers • Purpose: responsible for management of conditional grants, and top-up to equitable share allocations to provincial and local governments. • Covers 3 grants administered directly by the NT i.e. PIG; LGFMG; LGRG • All 6 performance targets attained

  15. Prog 7: Civil & Military Pensions • Purpose: Provide pension and medical benefits to former employees of government departments • 2 sub-prgms: civil pensions and medical schemes; military pensions • All 5 main targets were achieved • Targets added after Stratplan included medical benefit administration amendments, addressing pre-1992 queries, policy document on medical treatment and expenses, & review of service level agreement with SANDF, etc • Finalization & reconciliation of 1600 member records for Pre-92 Medihelp underway

  16. Prog 8: Fiscal Transfers • Purpose: meet international and other statutory obligations • Transfer payments for FY05:

  17. BUDGET vs ACTUAL2004/05

  18. NATIONAL TREASURY’S HUMAN RESOURCES PLANNING

  19. National Treasury’s Organisation • Vacancy rate fallen to 25% from 43% previously • To date vacancy rate fallen to 21% • Successful implementation of the internship programme • Main reasons for leaving NT: resignations (43%), contract expiry (26%), & transfers to other government departments (19%) • Race and gender balance continues to improve • 66% of training on high level skills e.g. legislators, managers,technicians, etc • 92% of positions in salary band levels of 6-16

  20. Employment and Vacancies31 March 2005 * Includes Minister and Deputy Minister & additional appointments e.g. interns, contract & excess

  21. Thank You

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