Page 13 - index

Finance and Staff

(Committee)

The Annual Financial Statements for the period This compares favourably to the planned forecast
March 2012 to February 2013 were approved by deficit of R 517 600 and was attributable to the
the Board, presented to Council, and issued with development costs for the Business of Consulting
the Agenda for the Annual General Meeting for final Engineering Development Programme (BCE), the
ratification. The financial statements were prepared increase in premises to accommodate an additional
by the recently appointed Lloyd Viljoen Chartered training venue, associated renovations to the existing
Accountants (S.A.) as agreed to at the last AGM. offices in Bryanston, as well as the employment of a
Strategic Communications Manager. The audited
The statement of changes in the amount of reserves
loss increased marginally due to an increase in the
for this period showing the total comprehensive
costs of the renovations.
surplus (deficit) for the year is summarised as follows:
Total Assets as at the 28 February 2013 amounted to
CESA R 52 537 R 10 293 068; Total Liabilities were R 4 154 820 and
School of Consulting R (615 571) Accumulated Reserves for CESA, SCE and the YPF
Engineering totalled R 6 138 792.
YPF R 2 401
The 2014 budget for the period March 13 to February
Total deficit for the year R (560 633)
14 forecast a net deficit of just over R 1 million. This
forecast loss was due to the development of the

CESA Annual Review 2012 / 2013

Sue Davis Abe Thela -
Manager: Finance Nyeleti Consulting Engineers
Chairperson
13