Accounting Bursary Application Forms by ukr15189

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									FET Colleges Finances and
  Financial Aid Scheme


      20 February 2007
  Overview of college finances


 Audited statements show strong growth in
  income over recent years
 Growth in income from variety of
  resources from R409 million in 2000/1 to
  R736 million in 2003/4
Income 2000 to 2003 at FET Colleges

800
700
600
500
400
300
200
100
  0
      2000   2001    2002    2003
Reasons for re-capitalisation of FET Colleges



 Colleges  offering outdated programmes
  that did not meet the needs of the
  economy
 Need to plan new programmes and
  provide infrastructure and equipment to
  offer new programmes
    Key principles of re-capitalisation
The re-capitalisation process will be driven by

 programmes that meet the needs of society and the
  economy
 research and information
 redress strategies
              Allocation of Funds


 R50 million planning grant for 2005/6


 R500 million in each of 2006/7; R600 million in
  2007/8 and R800 million in 2008/9 for re-
  capitalisation
          Budget proposals by province
Province      Colleges   Pop 15 - 24   % population Request
Free State       4       550 000           6%      R574 million
E. Cape          8       1 350 000        14%      R578 million
Gauteng          8       1 800 000        18%      R517 million
KZN              9       2 200 000        22%      R535 million
Limpopo          7       1 600 000        16%      R567 million
Mpumalanga       3       600 000           6%      R212 million
N. Cape          2       150 000           1%      R100 million
N. West          3       730 000           7%      R301 million
W. Cape          6       870 000           9%      R604 million
        Principles for allocation
At provincial level
 Weighted formula using youth population, contribution of
   province to GDP and student FTEs / enrolment at colleges
At college level
 Programmes where there is evidence of need and part of
   Growth and Development Plan of province
               Funds allocated

Province     Number of   Amount requested   Amount allocated
             colleges
Free State        4      R574 million       R118 200 000
E. Cape           8      R578 million       R225 550 000
Gauteng           8      R517 million       R409 080 000
KZN               9      R535 million       R367 930 000
Limpopo           7      R567 million       R224 245 000
Mpumalanga        3      R212 million       R109 500 000
N. Cape           2      R100 million       R25 620 000
N. West           3      R301 million       R122 570 000
W. Cape           6      R604 million       R227 305 000
          Budget items for funding
All allocations in relation to programmes offered
 Infrastructure – new and development of
 Equipment and ICT
 Development of professional staff in relation to
   programmes offered
 Administrative systems
 Curriculum development
             Allocation by line item
Infrastructure           R1 156 000
Site upgrading           R    32 105
New land buildings      R     84 330
Equipment               R    378 788
Curriculum              R    107 235
HRD                     R    76 670
Admin systems           R    25 000
Total                   R1 860 000
            Implementation in 2006
   Funds transferred
   Curriculum preparation
   Lecturer training
   Preparation of LTSM
   Tenders and specifications for infrastructure and
    equipment
   Appointment of examiners
   Recruitment of students
   Monitoring of re-cap and readiness
 State of readiness instrument developed


 Provincial Departments of Education


 National Department and Treasury


 Independent Ministerial Task Team
Progress on re-cap spending


December report
As at Friday, 26 January 2007, 35
colleges had submitted their reports.

January report
As at Monday, 12 February 2007, 46
colleges had submitted their reports.
          SPENDING BY COLLEGES AS AT THE
             END OF JANUARY 2007
1.  Actual spending per Province:
        Amount             Amount           %
        Allocated           Spent          Spent
 EC    R 61 000 000           R 41 970 234         68,8%
 FS    R 30 000 000           R 15 403 067         51,3%
 GP     R106 000 000          R 37 963 126         40,4%
 KZN   R 90 000 000           R 54 278 669         60,3%
 LP    R 43 000 000           R 18 419 040         47,2%
 MP    R 32 000 000           R 17 048 291         53,3%
 NC    R 10 000 000           R 6 761 898          67,6%
 NW    R 28 000 000           R 3 319 085          30,2%
 WC    R 70 000 000           R 44 186 160         63.1%
 TOTAL R470 000 000           R239 349 570         54.8%
          SPENDING BY COLLEGES AS AT THE
             END OF JANUARY 2007
2. Uncommitted funds per province:
       Allocated             Amount             %
       Amount             Uncommitted    Uncommitted
  EC R 61 000 000          R 2 172 560        3,6%
  FS R 30 000 000          R 4 619 608      15,4%
  GP R106 000 000          R10 521 472      11,2%
 KZN R 90 000 000         R 6 071 894         6,7%
  LP  R 43 000 000        R 6 089 951       15,6%
  MP R 32 000 000          R 8 010 966      25,1%
  NC R 10 000 000          R 1 349 183      13,5%
  NW R 28 000 000          R 372 915          3,4%
  WC R 70 000 000          R 6 888 435        9,8%
TOTAL R470 000 000        R46 096 984        10,5%
              Bursary scheme
 Recent changes in FET sector geared at
  increasing access (merger, recapitilisation,
  NC(V) programmes)
 New curriculum addressing SA’s skills
  shortage
 R600 million allocated for FET Colleges
  Financial Aid Scheme – over 3 years
       2007 = R100 million
       2008 = R200 million
       2009 = R300 million
  NSFAS - Mode of Operation
 Financial   Aid Offices:
      Bursary applications
      Send batches of forms with interim
      reports to NSFAS claiming money on
      behalf of the students
 NSFAS processes the claims and makes
 payment
 Financial Aid Offices credit student fee
 accounts
                 NSFAS
 NSFAS    – administration & management of
  funds on behalf of DoE
 NSFAS is a loan and bursary scheme
  operating in terms of Act 56 of 1999
 It was set up by the SA Government in
  1996
 It was set up to create access to education
  for students with potential but who could
  not afford to fund their own studies
       Allocation of Bursaries
 Only South African students registered for
  NC(V) courses will be eligible for bursaries
 Provincial & College allocation done using
  the Crouch model
 Crouch model considers NC(V) enrolments
  and the % of poor population per province
 Allocation method approved by the Minister
  of Education on 5 December 2006
                Bursary Allocations
Item                     Cost                     Notes
Registration fees        R200                     Standard for all NC(V)
                                                  programmes
Tuition fees             Cost of NC(V)            As per DoE approved
                         programmes               student fees
Books                    R120 per book            Maximum 7 books
Academic levies             Engineering – R500   Not applicable to all
                            Hospitality – R500   students
                            Internet – R300
Accommodation & Travel R 3000
All the above amounts are MAXIMUM amounts that can be allocated.
       Notification to Colleges
 Provinces & Colleges advised on 8
  December 2006 of allocations
 Training for DoE, PDE & Colleges conducted
  from 31 January to 6 February 2007
 A total of 122 officials & College staff trained
 Provincial Allocation
Province        2007 Allocation
                R’000
Free State      7 500
North West      5 500
KwaZulu-Natal   18 500
Mpumalanga      7 000
Limpopo         15 000
Northern Cape   3 000
Western Cape    9 500
Gauteng         18 500
Eastern Cape    15 500
TOTAL           100 000
        Conditions & Process for
          awarding bursaries
   College bursaries based on approved NC(V)
    programmes & student enrolments
   College to allocate a dedicated staff member to
    administer the scheme – student support officer
    recommended
   Awarding of bursaries to be based on Means Test –
    evidence thereof required
   Approved & signed bursary agreements required
        Conditions & Process for
          awarding bursaries
   Colleges to set up a Financial Aid Committee,
    suggested members:
       student support services officer/manager
       finance officer / manager
       student administration officer / manager
       student representative council (SRC) member (s)
 Committee makes bursary awards
  recommendations
 College CEO – Accounting Officer
            Role of Colleges
 Serve as DoE, PDE & NSFAS agencies
  (accountability & reports)
 Advertise bursaries to all students
 Counsel & advise students
 Administer bursary application forms and
  Means Test
 Issue receipts to students as proof of
  applications received
         Monitoring & Support
 DoE, PDE & NSFAS – monitoring &
  support
 Colleges to provide reports to DoE, PDE &
  NSFAS
 NSFAS – regular audit
Thank you

								
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