1. In terms of section 42(b) of the South African Schools Act (SASA), 1996 (Act 84 of 1996) as amended, the governing body of a public school must as soon as practicable, but not later than three months after the end of each financial year, i.e. 31 March, draw up annual financial statements in accordance with the guidelines determined by the Provincial Minister of Education.
2. The Western Cape Education Department (WCED) previously did not issue guidelines in terms of section 42(b) of SASA, but instead issued directions contained in Chapters A and I of the manual Basic Financial System for Schools. The manual was issued in terms of section 37(1) of SASA by the Head of Department.
3. The attached guidelines have now been determined by the Provincial Minister and are therefore issued in terms of section 42(b) of SASA. It is expected of governing bodies of all public schools to draw up their annual financial statements in accordance with the attached guidelines.
4. Kindly ensure that the content of this circular and guidelines are brought to the attention of all concerned, including the school’s auditor.


SIGNED: P BEETS
ACTING HEAD: EDUCATION
DATE: 2018:04:04

South African Schools Act (SASA), 1996 (Act 84 of 1996)  (size: 255 KB)
Guidelines for the drawing up of annual financial statements  (size: 93 KB)
Annexure A-J  (size: 156 KB)