Continuing Education and Training Act, 2006 (Act No. 16 of 2006)

Notices

National Norms and Standards for Funding Community Education and Training College

Funding Norms and Standards

Part P : Budgeting, Financial Management and Reporting
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Budget Allocation

 

85. Whilst it is recognized that the national education and training budget, like other departmental (or provincial) budgets, is subject to a number of factors, such as economic growth and tax revenues; it is nevertheless critical for colleges to have a degree of certainty or predictability with respect to their budgets based on a medium-to long-term enrolment plan (i.e. 3 to 5-year plan). This must include the associated staff compensation budget in line with the posts allocated through the post provisioning norms.

 

86. The Department must provide colleges with their indicative budget allocations for the next financial year and the two outer years for planning purposes, by November each year. The final budget allocation for the next financial year must be provided to college by 31 March of each year.

 

87. The council of a college must approve the annual budget of the college as required by the CET Act.

 

88.The shifting of allocations between CLCs after the final allocation has been communicated, must be approved by council. The college must put in place a process to be undertaken for the shifting of allocations between CLCs.

 

Reporting requirements

 

89. In terms of section 25 of the CET Act, the council of a public college is required to produce annual financial reports and to comply with any reasonable additional information as the Minister may require. Furthermore, the council of a public college must implement internal and audit risk management systems which are not inferior to the standards contained in the Public Finance Management Act, Act No. 1 of 1999.

 

90. The submission dates of the audited annual financial statements for CET colleges are determined by the Minister (and were published in government gazette no. 41843 in August 2018).