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Finance and Staff

Committee

The Annual Financial Statements for the period March The planned forecast deficit was for R 1 008 000 and
2013 to February 2014 was approved by the Board, was attributable to further development costs for the
presented to Council, and issued with the Agenda for CESA School of Consulting Engineering for the BCE
the Annual General Meeting for final ratification. The and MCE courses, and the CEO succession following
financial statements were prepared by Lloyd Viljoen the retirement of Graham Pirie (former CEO). The
Chartered Accountants (S.A.) audited loss increased due to increased legal costs
associated with the Designation of Local application
The statement of changes in the amount of reserves
to the dti, and increased traveling expenses by the
for this period showing the total comprehensive
CESA Management team.
surplus (deficit) for the year is summarised as follows:
Total Assets as at the 28 February 2014 amounted to
2014 2013 R 10 297 128; Total Liabilities were R 5 391 520 and
CESA R (1 142 948) 52 537 Accumulated Reserves for CESA, SCE and the YPF
School of Consulting R (77 590) (615 571) totalled R 4 905 608.
Engineering
The 2015 budget for the period March 14 to February
YPF R (12 106) 2 405
15 is to achieve a breakeven bottom line. The
Total deficit for the year R (1 232 644) (560 629) challenges facing CESA to meet this forecast remain
the lack of sponsorship for our events and loss of

CESA Annual Review 2013 / 2014

Sue Davis ABE THELA
Manager: Finance Nyeleti Consulting Engineers
Chairperson
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