| 1. |
The purpose of this minute is to inform you of the inputs required for the compilation of Interim Annual Financial Statements (IAFS) as at 30 September 2009 by the Western Cape Education Department for the 2009-2010 financial year. |
| 2. |
As a result of problem areas experienced every year during the compilation of the annual financial statements (AFS), the Provincial Treasury (PT) took the decision to commit towards the rolling out of interim financial reporting. The intention is to improve the integrity and quality of financial information reported in financial statements, in particular disclosure notes, preparing departments for the transition to accrual accounting. This initiative was supported by the National Treasury (NT) who have embarked on a roll-out program. The WCED's completed IAFS must be submitted to the PT by no later than 15 November 2009. |
| 3. |
In order to enable this directorate to comply with these new requirements, it is essential that the responsible persons on the attached list submit their inputs to this directorate as soon as possible after the closure of the accounting month of September on the Basic Accounting System (BAS), or by no later than 15 October 2009. Kindly note that the IAFS will not be audited by the Office of the AG, but will be assessed by the PT in conjunction with the PGWC's Internal Audit Component. Therefore, all inputs must be accompanied by supporting documentation and in electronic format, where possible, as is the normal requirement for the AFS. The main focus will be on testing data integrity and the prevention of any adverse audit outcomes. |
| 4. |
For convenient reference, electronic versions of the extracts from the template for the compilation of the financial statements applicable to each section, together with the relevant guide for the preparation of the financial statements, will be e-mailed to the persons on the attached list. |
| 5. |
All Finance personnel are requested to take note of the contents of Treasury Circular no. 57/2009 dated 21 September 2009 as well. Any enquiries in this respect may be directed to Mr MJ Comer at tel. no. 021 467 2736, or Mr S van Wyk at tel.no. 021 467 2738. |
| 6. |
Your co-operation will be highly appreciated. |
SIGNED: EI MEYER
HEAD: EDUCATION
DATE: 2009:10:06
|