Download - PORTFOLIO COMMITTEE MEETING
PORTFOLIO COMMITTEE MEETING
DATE: 10 October 2012
Venue: Parliament, Cape town
BOXING SOUTH AFRICA
Mandate as per Boxing Act 11 of 2001:
To provide for a new structure for professional boxing in the Republic;
to ensure the effective and efficient administration of professional boxing in the Republic;
to recognise amateur boxing; to create synergy between professional and amateur
boxing; to establish a Boxing Commission known as Boxing SA; to promote interaction between associations of boxers,
managers, promoters, trainers and officials and Boxing SA; and to provide for matters connected therewith
BOXING SOUTH AFRICA
Vision
To be a leading sport code in South Africa and a world class boxing authority
Mission
The effective and efficient administration and regulation of professional boxing
Values
P – ProfessionalismL - LeadershipA - AccountabilityD - Diversity
ACHIEVEMENTS The timeous appointment of the new board of
Boxing SA on 28/08/2011.The holding of a Board Induction Workshop and 4
board meetings 2011/2012 financial year.The successful establishment of committees. i.e.
Events Sanctioning Committee, Ratings Committee, Disciplinary Committee and Management Committee. Audit Committee interviews and appointment by end October.
ACHIEVEMENTS continuedThe development Action Plan to rectify AGSA’s
findings for the 2010/2011 AGSA report resulting in improved report 2012/2012.
Timeous submission of strat plan and all quarterly reports. Milestone in the history of Boxing SA
Road-show to present strategic plan and solicit input from stakeholders
ACHIEVEMENT continuedAdoption of MOU with SABC with final signing on
the recent SABC board meetingAdoption of functional structure formulation, to consist
of the Director: Communication and Marketing; Director: Compliance and Monitoring; Director: Corporate Services and a Chief Financial Officer.
appropriate licensing of boxing stakeholders in line with the provisions of the South African Boxing Act No.11 of 2001.
Achievement s continued77 tournaments promoted throughout the
country17 were female bouts
Province Tournaments
EC 38Gauteng 21KZN 11Limpopo 6WC 6Free State 2Mpumalanga
1
ChallengesSRSA grant not adequate to meet legislative
requirementsThere are no financial resources available to finance
strategic projects as per Strategic plan 2012 -2017 and strategic posts. (e.g Baby champs, training, rural development, infrastructure development e.t.c)
Representation in international conventions to leverage BSA’s presence in the world and continent
CHALLENGES continuedProvincial and local government support with
the exception of EC and KZN. (WC not interested at all)
Private strategic partnership with corporate sponsors
Annual Report 2011/2012Qualifications Reason Action Plan
Trade and other payables (opening
balance)
No supporting documentation due to
lack of proper financial administration in prior
years
Follow a process of write-off. Currently at
the final stage of sending negative
confirmations.
Trade and other receivables (opening
balance)
No supporting documentation due to
lack of proper financial administration in prior
years
Follow a process of write-off. Currently at
the final stage of sending negative
confirmations.
Annual Report 2011/2012Emphasis of
matterReason Action Plan
Significant uncertainties
Contingent liabilities arising from pending
lawsuits.
The CEO is busy trying to resolve the issues to avoid
the possible liability.Restatement of
corresponding figuresIt is uncertain why the
statement for the insurance asset had an
opening balance that was different from the
previous years closing balance. AGSA audited the
closing balance as accurate in the previous
year.
To ensure that the opening balance and closing balance correspond in the current
year.
Going concern There is still a risk that the entity may not be able
to go on business considering the actual net
deficit position.
SRSA and NT increased the annual grant this year and over the MTEF period. BSA board and CEO are working on generating more revenue for the entity. SABC contract
in process of finalization.
Annual Report 2011/2012Legal
requirementsReason Action Plan
Performance information
Indicators are not SMARTNew board appointed in the middle of the year,
decided to create a new strategic plan 2012-2017 since half the year had
already passed.
The risks have been addressed in the new
strategic plan. One issue stills remains is there is no
financial resources available to meet strategic objectives.
Hence sourcing funds.Audit committee New Board wished to
appoint new audit committee. Process was
not complete as at 31 March 2012.
The process is at the interview stage now.
Internal audit No revenue available to fund internal audit in the 2011/2012 financial year.
Internal audit team at SRSA will perform the internal
audit function in 2012/2013. the head of audit has met
with BSA already.
BSA CREDITOR ANALYSISMajor creditors & balances:
BSA EXPENDITURE ANALYSIS
•Reflects the affect of proper financial management & administration•Achieved through monthly finance reports, risk assessments and action plans
REVENUE
2012/2013
Sponsorship
(R0)
Sanctioning Fees - 30/09/201
1(R588 000)
Other provincial
grants(R1 000
000)
Forfeit fees
30/09/2011
(R7 000)
SRSA grant
(R5 052 000)
License Fees –
30/09/2011
(R220 000)
BSA REVENUE ESTIMATES SRSA grant 2011/2012 2012/2013 2013/2014 2014/2015
Approved grant 2 307 000 2 946 000 3 108 000 3 294 000
Additional grant *7 805 000 2 106 000 3 306 000 4 464 000
Total 10 112 000 5 052 000 6 414 000 7 758 000
Sanctioning fees 1 434 256 1 600 000 1 700 000 1 800 000
Licence fees 394 775 500 000 550 000 600 000
Other grants 1 060 000 1 000 000 - -
Total Revenue 13 001 031 8 152 000 8664 000 10 158 000
*Used to settle long outstanding creditors SARS & AGSA old board and audit committee members that were not paid.
All additional funding are used to fill in gaps for day to day expenditure and fill significant vacant posts.
No approved funds available to meet strategic objectives.
BOXING TECHNICAL CO-ORDINATOR NOMSA MDHLULI ACCOUNTS
ADMINSTRATORVERQUELENE JACOBS
IT & STATISTICS OFFICERSKHUMBUZO MOTHA
RECEPTIONISTLILLIAN DE WEE
GENERAL ADMINISTRATIVE
ASSISTANTMAJORIE THEBE
TOURNAMENTS & OFFICE ASSISTANTABRAM KAMBULE
PROVINCIAL MANAGERS
DIRECTOR OF OPERATIONSLOYISO MTYA (ACTING CEO)
DIRECTOR: COMMUNICATIONS & MARKETING
(VACANT)
CFO (OUTSOURCED: Financial Management Consultant)
DEPUTY MINISTER OF SPORT AN RECREATION HON. GERT OOSTHUIZEN
BOXING SA ORGANISATIONAL STRUCTURE
CEOMOFFAT QITHI
BSA BOARD
MINISTER OF SPORT AND RECREATION SAHON. MR. FIKILE MBALULA
HR MANAGER(VACANT)
FINANCIAL MANAGERTUMELO KEKANA
ACCOUNTS CLERK (VACANT)
PA to CEO(VACANT)
Generation of additional revenue - sponsorships
Appointment of permanent CFO – shortlisting is in progress – 2012/2013
Filling in significant vacant posts Clean audit reports
BSA main goals – MTEF period
THE END.
THANK YOU!