Calculation of the 2011/12 Income available for Discretionary grants and special projects for FPM SETA  

20011/12 projected levy income as per Fieta , PPP AND CTFL SETA  

CTFL FIETAPPP (54% of Mappp levies) TOTAL

2011/12 2011/12 2011/12 2011/12

Levy Income 63,221,400 73,410,388 100,203,143

236,834,931

Investment income 2,189,418 1,787,260

5,791,521 9,768,199

NSF -

-

SDL interest & penalties 493,716 515,000

783,540 1,792,256

Other Income        

65,904,534 75,712,649 106,778,203

248,395,386

% increase for 2011/12 3% 1% 6% 4%2010/11 budgeted levy income 61,380,351 73,040,617 94308840 228,729,808

MANDATORY GRANT PAYOUT 200910 CTFL FIETA PPP      79% 69% 76%

TOTAL INCOMEFPM SETA

 

2011/12 2012/13 2013/14

4% 3%

Levy Income 236,834,931 245,477,865 254,008,475

Investment income 9,768,199 8,000,000

7,000,000 NSF - - 0

SDL interest & penalties 1,792,256 1,859,230

1,925,617 Other Income -    

Total estimated Income 2011/12 248,395,386 255,337,095 262,934,092

Less Administration expenses (10% OF LEVY INCOME) -29,604,366 -30,684,733 -31,751,059

Less Administration expenses exceeding 10% OF LEVY INCOME -1,689,736

Less Mandatory grant expenses (40% OF TOTAL sdl) -88,376,231 -92,054,199.50 -

95,253,178.03

Less Pivotal grant -(10% of SDL) -29,604,366 -30,684,733 -

31,751,059

Total 99,120,686 101,913,430 104,178,795

TOTAL INCOME & EXPENSEFP & M SETAStatement of Financial performanceYear ending 31 March 2011Draft budget

% increase 4% 3% 2011/12 2012/13 2013/14

Levy Income 236,834,931 245,477,865 254,008,475 Administration levy income 29,604,366 30,684,733 31,751,059 Mandatory grant Income 118,417,465 122,738,933 127,004,237

Discretionary & pivotal grant income grant income 88,813,099 92,054,200 95,253,178

Investment income 9,768,199 8,000,000.00 7,000,000.00 SDL interest & penalties 1,792,256 1,859,230.04 1,925,617.08

Other Income - - - Total Revenue 248,395,386 255,337,095 262,934,092

Less Expenses 244,745,386 251,783,153 261,376,902

Mandatory grant expenses 88,376,231 92,054,200 95,253,178 Pivotal grants 29,604,366 30,684,733 31,751,059 Discretionary , projects expenses 95,470,686 102,445,340 104,803,897 Administration expenses 31,294,103 26,598,880 29,568,768

Surplus / (deficit) 3,650,000 3,553,942 1,557,189

Administration expenses as a % of total levy income 11% 9% 9%

NET ASSETS & LIABILITIESFP&M SETA

Statement of Financial position

As at 31 March 2012 2011/12 2012/13 2013/14

Assets

Fixed assets 3,310,000 2,749,039.17 2,101,982.25

Intangible assets 240,000 269,050.00 291,005.00

bank 7,464,685 7,771,183 8,037,765

Total assets 11,014,685 10,789,272 10,430,752

Liabilities

Trade & Other Payables non exchange transactions 7,364,686 7,671,183 7,937,765

Total liabilities 7,364,686 7,671,183 7,937,765

Net Assets 3,650,000 3,118,089 2,492,987

Administration reserve 3,550,000 3,018,089 2,392,987

Employer grant reserve 100,000 100,000 100,000

Discretionary reserves - - -

Net Reserves 3,650,000 3,118,089 2,492,987