national english literary museum - national . · 2016-03-07the national english literary museum

Download NATIONAL ENGLISH LITERARY MUSEUM - National . · 2016-03-07The National English Literary Museum

Post on 08-Jun-2018

212 views

Category:

Documents

0 download

Embed Size (px)

TRANSCRIPT

  • NATIONAL ENGLISH LITERARY MUSEUM ANNUAL REPORT FOR THE PERIOD 1 APRIL 2014 TO 31 MARCH 2015

    NATIONAL ENGLISH LITERARY MUSEUM an agency of the

    Department of Arts and Culture

  • NATIONAL ENGLISH LITERARY MUSEUM

    STREET ADDRESS 87 Beaufort Street Grahamstown 6139 SOUTH AFRICA

    POSTAL ADDRESS Private Bag 1019 Grahamstown 6140 SOUTH AFRICA

    TELEPHONE +27 046 622 7042

    FAX +27 046 622 2582

    WEB http://www.nelm.org.za

    RP 334/2013 ISBN 978-0-621-42385-3

    http://www.ru.ac.za/nelm/

  • NATIONAL ENGLISH LITERARY MUSEUM an agency of the

    Department of Arts and Culture

    ANNUAL REPORT FOR THE PERIOD 1 APRIL 2014 TO 31 MARCH 2015

  • 1

    CONTENTS

    PART A: GENERAL INFORMATION

    FOREWORD BY THE CHAIRPERSON ....................................................................................................................... 4

    DIRECTORS OVERVIEW .......................................................................................................................................... 9

    STATEMENT OF RESPONSIBILITY AND CONFIRMATION OF ACCURACY FOR THE ANNUAL REPORT ................... 10

    STRATEGIC OVERVIEW ...........................................................................................................................................

    PART B: PERFORMANCE INFORMATION

    1. AUDITORS REPORT: PREDETERMINED OBJECTIVES .................................................................................... 14

    2. SITUATIONAL ANALYSIS................................................................................................................................ 14

    3. PERFORMANCE INFORMATION BY PROGRAMME ....................................................................................... 17

    PART C: GOVERNANCE

    1. INTRODUCTION ............................................................................................................................................ 34

    2. PORTFOLIO COMMITTEE .............................................................................................................................. 34

    3. EXECUTIVE AUTHORITY ................................................................................................................................ 34

    4. THE ACCOUNTING AUTHORITY .................................................................................................................... 34

    5. COMPOSITION OF THE COUNCIL .................................................................................................................. 34

    6. RISK MANAGEMENT ..................................................................................................................................... 37

    7. INTERNAL AUDIT AND AUDIT COMMITTEE .................................................................................................. 37

    8. COMPLIANCE WITH LAWS AND REGULATIONS............................................................................................ 38

    9. FRAUD AND CORRUPTION ........................................................................................................................... 39

    10. MINIMISING CONFLICT OF INTEREST ........................................................................................................... 39

    11. CODE OF CONDUCT ...................................................................................................................................... 39

    12. HEALTH AND SAFETY AND ENVIRONMENTAL ISSUES .................................................................................. 39

    REPORT OF THE AUDIT COMMITTEE OF THE NATIONAL ENGLISH LITERARY MUSEUM ...................................... 40

    PART D: HUMAN RESOURCE MANAGEMENT

    1. INTRODUCTION ............................................................................................................................................ 44

    2. HUMAN RESOURCE OVERSIGHT STATISTICS ................................................................................................ 44

    PART E: FINANCIAL INFORMATION

    REPORT OF THE AUDITOR-GENERAL TO PARLIAMENT ON THE FINANCIAL STATEMENTS

    OF THE NATIONAL ENGLISH LITERARY MUSEUM FOR THE YEAR ENDED 31MARCH 2015 .................................. 52

    STATEMENT OF RESPONSIBILITY FOR FINANCIAL INFORMATION ....................................................................... 56

    ACCOUNTING AUTHORITYS REPORT FOR THE YEAR ENDED 31 MARCH 2015 .................................................... 57

    1. REVIEW OF OPERATIONS ............................................................................................................................. 57

    2. PRINCIPAL ACTIVITIES OF THE MUSEUM ..................................................................................................... 57

    3. MATERIALITY AND SIGNIFICANCE FRAMEWORK FOR THE 2014/2015 FINANCIAL YEAR ............................ 58

    4. APPROVAL .................................................................................................................................................... 58

    STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2015 ............................................................................. 59

    STATEMENT OF FINANCIAL PERFORMANCE FOR THE YEAR ENDED 31 MARCH 2015 ......................................... 60

    STATEMENT OF CHANGES IN NET ASSETS FOR THE YEAR ENDED 31 MARCH 2015............................................. 61

  • 2

    CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2015 ....................................................................... 62

    STATEMENT OF COMPARISON OF BUDGET AND ACTUAL AMOUNTS FOR THE YEAR ENDED

    31 MARCH 2015 ...................................................................................................................................................... 63

    NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2015 .............................................. 65

    1. ACCOUNTING POLICIES ................................................................................................................................ 65

    2. PROPERTY, PLANT AND EQUIPMENT ........................................................................................................... 75

    3. HERITAGE ASSETS ......................................................................................................................................... 76

    4. INVENTORY ................................................................................................................................................... 78

    5. INVESTMENTS .............................................................................................................................................. 79

    6. TRADE AND OTHER RECEIVABLES ................................................................................................................ 80

    7. CASH AND CASH EQUIVALENTS.................................................................................................................... 80

    8. REVENUE ...................................................................................................................................................... 81

    9. OTHER INCOME ............................................................................................................................................ 82

    10. EXPENDITURE ............................................................................................................................................... 82

    11. PROVISION FOR POST-RETIREMENT MEDICAL BENEFITS ............................................................................. 83

    12. TRADE AND OTHER PAYABLES...................................................................................................................... 85

    13. RECONCILIATION OF SURPLUS TO CASH UTILISED IN/GENERATED FROM OPERATIONS ............................ 86

    14. RECONCILIATION OF ORIGINAL/ADJUSTED BUDGET AND ACTUAL EXPENDITURE ...................................... 86

    15. IRREGULAR EXPENDITURE ............................................................................................................................ 87

    16. FRUITLESS AND WASTEFUL EXPENDITURE ................................................................................................... 88

    17. CONTINGENT LIABILITY ................................................................................................................................ 88

    18. RELATED PARTY DISCLOSURE ....................................................................................................................... 89

    19. EMOLUMENTS OF COUNCIL AND COMMITTEE MEMBERS AND SENIOR MANAGEMENT ........................... 89

    20. RESTATED PRIOR YEAR COMPARITIVES ....................................................................................................... 91

    21. CAPITAL COMMITMENTS ............................................................................................................................. 92

    22. EVENTS SUBSEQUENT TO BALANCE SHEET .................................................................................................. 92

    23. FINANCIAL RISK MANAGEMENT ................................................................................................................... 92

    ANNEXURES

    A MATERIALITY AND SIGNIFICANCE FRAMEWORK FOR THE 2014/2015 FINANCIAL YEAR

    B LIST OF