Labour
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Labour Presentation to Presentation to Parliamentary Committee Parliamentary Committee Mr June Dube Chairperson, TETA Mr June Dube Chairperson, TETA Board Board Mr Steve O’Brien Vice Chairperson, Mr Steve O’Brien Vice Chairperson, TETA Board TETA Board Dr Johan de Beer Acting CEO, TETA Dr Johan de Beer Acting CEO, TETA Mr Dalpat Naran CFO, TETA Mr Dalpat Naran CFO, TETA
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Labour. Presentation to Parliamentary Committee Mr June Dube Chairperson, TETA Board Mr Steve O’Brien Vice Chairperson, TETA Board Dr Johan de Beer Acting CEO, TETA Mr Dalpat Naran CFO, TETA. - PowerPoint PPT Presentation
Transcript of Labour
Labour
Presentation to Parliamentary Presentation to Parliamentary Committee Committee
Mr June Dube Chairperson, TETA BoardMr June Dube Chairperson, TETA Board Mr Steve O’Brien Vice Chairperson, TETA Mr Steve O’Brien Vice Chairperson, TETA BoardBoard Dr Johan de Beer Acting CEO, TETADr Johan de Beer Acting CEO, TETA Mr Dalpat Naran CFO, TETAMr Dalpat Naran CFO, TETA
Transport Education & Training Authority (TETA)Transport Education & Training Authority (TETA)
• Board Members present:
Mr June Dube (Chairperson TETA)
Mr Steve O Brien (Vice Chairperson)
Mrs Gugu Mdlala
Mr Garry Wilson
Mr George Strauss
• Board Members present:
Mr June Dube (Chairperson TETA)
Mr Steve O Brien (Vice Chairperson)
Mrs Gugu Mdlala
Mr Garry Wilson
Mr George Strauss
Overview: TETA
Mr Steve O’Brien Vice Chairman, TETA
Overview: TETA
Mr Steve O’Brien Vice Chairman, TETA
• TETA was established in 2000 in terms of the Skills Development Act, Act 97 of 1998. The specialised services we provide are as follows: – Skills levy grant disbursements – Skills development – Education training quality assurance
Our stakeholders include over 13 000 registered levy-paying companies within the transport sector, training service providers, transport regulators
The TETA Board members comprise of some 36 stakeholders made up of industry and labour representatives
• TETA was established in 2000 in terms of the Skills Development Act, Act 97 of 1998. The specialised services we provide are as follows: – Skills levy grant disbursements – Skills development – Education training quality assurance
Our stakeholders include over 13 000 registered levy-paying companies within the transport sector, training service providers, transport regulators
The TETA Board members comprise of some 36 stakeholders made up of industry and labour representatives
Labour
Overview: TETA Mr Steve O’Brien Vice Chairman, TETA
Overview: TETA Mr Steve O’Brien Vice Chairman, TETA
TETA’S DELIVERY STRUCTURE EIGHT CHAMBERS: – Aerospace– Forwarding and Clearing– Freight Handling – Maritime– Rail– Road Freight– Road Passenger – Taxi .
– ETQA– FINANCE– SKILSS DEVELOPMENT
TETA’S DELIVERY STRUCTURE EIGHT CHAMBERS: – Aerospace– Forwarding and Clearing– Freight Handling – Maritime– Rail– Road Freight– Road Passenger – Taxi .
– ETQA– FINANCE– SKILSS DEVELOPMENT
Labour
Background to Fidentia InvestmentBackground to Fidentia InvestmentMr June Dube (Chairman TETA Board)Mr June Dube (Chairman TETA Board)
Background to Fidentia InvestmentBackground to Fidentia InvestmentMr June Dube (Chairman TETA Board)Mr June Dube (Chairman TETA Board)
The capital amount invested in Fidentia Asset Management amounts to R 177 Million over a period
Fidentia was placed under curator ship by the Cape High Court. The curators investigation is progressing well, however it is too early to determine the amount that TETA will recover. Indications are that it might be between 20c & 40c in the Rand. TETA is continuously in contact with the Curators. Meeting Scheduled for Friday 24th of August
The capital amount invested in Fidentia Asset Management amounts to R 177 Million over a period
Fidentia was placed under curator ship by the Cape High Court. The curators investigation is progressing well, however it is too early to determine the amount that TETA will recover. Indications are that it might be between 20c & 40c in the Rand. TETA is continuously in contact with the Curators. Meeting Scheduled for Friday 24th of August
TETA Board ActionsTETA Board ActionsMr June Dube (Chairman TETA Board)Mr June Dube (Chairman TETA Board)
TETA Board ActionsTETA Board ActionsMr June Dube (Chairman TETA Board)Mr June Dube (Chairman TETA Board)
KPMG Forensic Audit
The TETA Board appointed KPMG to conduct a forensic audit on the TETA investments.
In the interest of good corporate governance, the Chief Executive Officer was suspended, pending the final audit report.
Disciplinary charges were laid to the CEO. The case is still pending
KPMG Forensic Audit
The TETA Board appointed KPMG to conduct a forensic audit on the TETA investments.
In the interest of good corporate governance, the Chief Executive Officer was suspended, pending the final audit report.
Disciplinary charges were laid to the CEO. The case is still pending
Overview: TETA’s Financial position: 2007/08Overview: TETA’s Financial position: 2007/08
• Opening balance – R 137 029 323 (1st Apr. ’07)
• Admin Income - R 30 448 837
• Levy Income - R 206 148 051 (70%)– Admin Expenses - R27 658 031
– Mandatory Grants (06/07) - R60 192 943
– Discretionary Grants - R77 263 428
– SMME Grants - R10 663 297
– Projects - R 3 057 924
– Mandatory Grants (07/08) - R81 394 496
Surplus (31st March ‘08) – R 120 867 347
• Opening balance – R 137 029 323 (1st Apr. ’07)
• Admin Income - R 30 448 837
• Levy Income - R 206 148 051 (70%)– Admin Expenses - R27 658 031
– Mandatory Grants (06/07) - R60 192 943
– Discretionary Grants - R77 263 428
– SMME Grants - R10 663 297
– Projects - R 3 057 924
– Mandatory Grants (07/08) - R81 394 496
Surplus (31st March ‘08) – R 120 867 347
EXISTING OBLIGATIONSDr Johan de Beer
EXISTING OBLIGATIONSDr Johan de Beer
With the loss of the Fidentia Investment, concern was expressed with regard to TETA’s ability to continue as a going concern and achieve the targets agreed to in the Service Level Agreement.
• We can confirm that TETA will honour all existing contractual obligation’s in line with targets set with the NSDS. This includes targets for 2007/08.
Effective financial management & cash flow management planning will ensure achievement of both targets and continuation as a going concern.
Since Febr ’07 TETA has honoured all its mandatory grant & discretionary commitments as well as administrative expenses
With the loss of the Fidentia Investment, concern was expressed with regard to TETA’s ability to continue as a going concern and achieve the targets agreed to in the Service Level Agreement.
• We can confirm that TETA will honour all existing contractual obligation’s in line with targets set with the NSDS. This includes targets for 2007/08.
Effective financial management & cash flow management planning will ensure achievement of both targets and continuation as a going concern.
Since Febr ’07 TETA has honoured all its mandatory grant & discretionary commitments as well as administrative expenses
Thank YouThank You
