Department of Employment and Labour (DEL

West and Free State), Mr D Maleka (Acting Director: Financial Planning and Reporting), Ms S Mangubewa (Director: Skills Development Regional Monitoring – Limpopo and Mpumalanga), Ms W Mkhize (Director: Supply Chain Management), Ms L Okuofu (Director: Skills Development Regional Monitoring – Eastern Cape and KwaZulu-Natal), Adv A Sidimela (Director: Legal, Governance, Risk and Compliance), Ms C Smit (Director: Internal Audit), Mr F Strydom (Director: Skills Development Programme Monitoring), Mr A Yam (Acting Director: Fund Management) Communications Officers: Ms K Ngewu (Director: Public Relations and Communication)

AUDIT OUTCOME Disclaimer Qualified Financially Unqualified

Current Assets 9 471 231 8 414 042 7 768 791 Non-Current Assets 1 066 292 863 712 538 319 Total Assets 10 537 523 9 277 754 8 307 110 Current Liabilities 743 872 1 021 682 1 488 495 Non-Current Liabilities - - Total Liabilities 743 872 1 021 682 1 488 495 Total Net Assets 9 793 651 8 256 072 6 818 615

Total Revenue 4 260 760 4 009 554 3 755 753

Exchange Transactions 600 420 505 359 551 016

Non-Exchange Transactions 3 660 340 3 504 195 3 204 737 Total Expenditure (2 723 188) (2 615 481) (7 195 724)

Employee Costs (81 825) (70 474) (59 688) Surplus/(Deficit) for Year 1 537 579 139 039 (3 439 990)

Operating Activities 1 165 380 1 400 543 (3 086 745) Investing Activities (1 611 476) (668 888) 2 486 159 Cash & Equivalents – Year End 295 163 741 259 9 604 UIFW EXPENDITURE** 29 541 4 601 27 641

HUMAN RESOURCES 2019/20 2018/19 2017/18 Posts Approved 155 155 129 Posts Filled 117 92 90

PHYSICAL: 2nd Floor, House Vincent, 10 Brodie Road, Wynberg, Cape Town, 7700 POSTAL: Private Bag X1, Plumstead, 7801 TEL: 021 763 3200 / 08000 67327 WEB: www.nsfas.org.za EMAIL: media@nsfas.org.za

The mission of the National Student Financial Aid Scheme (NSFAS) is to transform NSFAS into an efficient and effective provider of financial aid to students from poor and working class families in a sustainable manner that promotes access to, and success in, higher and further education and training, in pursuit of South Africa’s national and human resource development goals. The mission statement is made up of three distinct elements which describe why NSFAS exists, what it does, and the impact on its constituency: NSFAS exists to provide financial aid to eligible students at public TVET colleges and public universities; NSFAS identifies eligible students, provides bursaries, and collects student loan repayments to replenish the funds available for future generations of students; and NSFAS supports access to, and success in, higher education and training for students from poor and working class families who would otherwise not be able to afford to study.

Chairperson: Mr Ernest Khosa Board Members: Ms Jullie Beya, Mr Max Fuzani, Mr Cyril Madiba, Ms Pretty Makukule, Ms Reshma Mathura, Mr Bamanye Matiwane, Ms Lindiwe Matlali, Mr Richard Msweli, Ms Pumela Msweli, Mr Yonke Twani, Mr Sanele Zondi Administrator: Mr Andile Nongogo (NSGAS Executive Administrator) Chief Financial Officer: Mr Itayl Daringo (Acting) Senior Management: Thaaniya Isaacs (Chief Governance, Risk and Compliance Officer), Mr Prakash Mangrey (Risk and Finance Advisor) Communications Officers: Kagisho Mamabolo (General Manager: Corporate Services and Spokesperson), Khaya Xaba (Spokesperson)

Qualified Qualified Qualified

Current Assets 14 000 096 8 497 470 8 529 157

Non-Current Assets 5 996 711 8 585 924 9 620 816 Total Assets 19 996 807 17 083 394 18 149 973

Current Liabilities 4 694 559 6 259 801 4 016 840

Non-Current Liabilities - - Total Liabilities 4 694 559 6 259 801 4 016 840 Total Net Assets 15 302 248 10 823 593 14 133 133

Total Revenue 35 582 374 23 087 200 15 727 486

Exchange Transactions 35 582 374 23 087 200 1 509 664

Non-Exchange Transactions - - 14 217 822 Total Expenditure (28 456 717) (26 058 895) (12 666 943)

Employee Costs (223 478) (193 538) (149 111) Surplus/(Deficit) for Year 4 478 655 (5 045 952) 3 060 543

Operating Activities 1 117 886 (276 768) (746 700) Investing Activities 849 586 491 392 520 734 Cash & Equivalents – Year End 5 854 028 3 886 556 3 671 317 UIFW EXPENDITURE** 522 299 3 238 952 -

HUMAN RESOURCES 2019/20 2018/19 2017/18 Posts Approved 444 444 464 Posts Filled 425 436 392

PHYSICAL: 256 Glyn Street, Hatfield, Pretoria, 0083 POSTAL: Private Bag X278, Pretoria, 0001 TEL: 012 003 1800 WEB: www.qcto.org.za EMAIL: info@qcto.org.za