South African Institute for Drug Free Sport Act, 1997
R 385
Public Finance Management Act, 1999 (Act No. 1 of 1999)RegulationsTreasury Regulations for Departments, Constitutional Institutions and Public EntitiesPart 9 : Public entities29. Corporate planning, shareholder’s compacts and annual budgets |
| 29.1 | Corporate plans [Section 52 of the PFMA] |
| 29.1.1 | The corporate plan must cover a period of three years and must include— |
| (a) | strategic objectives and outcomes identified and agreed on by the executive authority in the shareholder’s compact; |
| (b) | strategic and business initiatives as embodied in business function strategies; |
| (c) | key performance measures and indicators for assessing the entity’s performance in delivering the desired outcomes and objectives; |
| (d) | a risk management plan; |
| (e) | a fraud prevention plan; |
| (f) | a materiality/significant framework, referred to in Treasury Regulation 28.3.1; |
| (g) | a financial plan addressing— |
| (i) | projections of revenue, expenditure and borrowings; |
| (ii) | asset and liability management; |
| (iii) | cash flow projections; |
| (iv) | capital expenditure programmes; and |
| (v) | dividend policies. |
| 29.1.2 | The executive authority of a public entity may request additional information to be included in the corporate plan. |
| 29.1.3 | Public entities listed in Schedule 2 or 3B must: |
| (a) | submit a three-year borrowing programme (beginning with the first financial year of the corporate plan) with their corporate plan to the National Treasury; and |
| (b) | submit quarterly reports on the borrowing programme to the National Treasury, reflecting actual borrowing for that quarter and any update of the borrowing programme. |
| 29.1.4 | Provincial government business enterprises listed in Schedule 3D and authorised to borrow by the Minister of Finance must— |
| (a) | submit to the relevant treasury, with their corporate plans, a three-year borrowing programme beginning with the first financial year of the corporate plan. The programme must be in terms of approvals and limits determined by the Minister, and in terms of the Borrowing Powers of Provincial Governments Act; and |
| (b) | submit to the relevant treasury, quarterly reports on the approved borrowing programme, reflecting actual borrowing for that quarter and any update of the borrowing programme. |
| 29.1.5 | The relevant treasury must forward to the National Treasury— |
| (a) | a copy of the corporate plan and approved borrowing plan; |
| (b) | quarterly updates reflecting actual borrowing for that quarter; and |
| (c) | any update in the borrowing programme of Schedule 3D provincial government business enterprises that are authorised to borrow. |
| 29.1.6 | The borrowing programme referred to in paragraphs 29.1.3 and 29.1.4 must include— |
| (a) | the terms and conditions on which the money is borrowed; |
| (b) | information on proposed domestic borrowing; |
| (c) | for national public entities, information on proposed foreign borrowing within the prescribed limit, where applicable; |
| (d) | short and long-term borrowing; |
| (e) | borrowing in relation to a pre-approved corporate plan; |
| (f) | the maturity profile of the debt; |
| (g) | the confirmation of compliance with existing and proposed loan covenants; |
| (h) | debts guaranteed by the government; |
| (i) | motivations for government guarantees, if required, and |
| (j) | the executive authority’s approval of the borrowing programme, if required by the legislation in terms of which the public entity was established. |
| 29.2 | Shareholder’s compact |
| 29.2.1 | The accounting authority for a public entity listed in Schedule 2, 3B or 3D must, in consultation with its executive authority, annually conclude a shareholder’s compact. |
| 29.2.2 | The shareholder’s compact must document the mandated key performance measures and indicators to be attained by the public entity as agreed between the accounting authority and the executive authority. |
| 29.3 | Evaluation of performance |
| 29.3.1 | The accounting authority of a public entity must establish procedures for quarterly reporting to the executive authority in order to facilitate effective performance monitoring, evaluation and corrective action. |
| 29.4 | Annual budgets [Section 52(a) of the PFMA] |
| 29.4.1 | For purposes of section 52(a) of the Act, the projection of revenue, expenditure and borrowings must be in the same format as submitted for the accounting authority’s approval. |
