Budget Review & Recommendations Reports 2017
The Committee considered and adopted the Budgetary Review and Recommendations Report with minor changes.
The meeting commenced later than the scheduled time because the present members were not reaching the quorum. Upon the arrival of the rest of the members, the Chairperson welcomed the members and Advocate Alma Nel.
Furthermore, the Chairperson indicated that the Committee will consider its Budgetary Review and Recommendations Report and adopt it.
The Chairperson handed over to Adv Nel to take the members through the Report.
Consideration of the Budgetary Review and Recommendations Report
Adv Nel indicated that the purpose of this meeting is to do a thorough check and peruse the corrections that have been effected by the Members thus far.
She read out the Committee’s observations on the Report.
Mr M Sibande (ANC) asked why Prasa is failing to submit its reports.
The Chairperson said the challenge is that Prasa did not have an interim board to sign the report, so now that the interim board has come to effect, the reports will be submitted.
Mr Sibande asked for clarity on the term “technical insolvency”, as read out by Adv Nel in the report.
Advocate Nel explained that the term “technical insolvency” referred to liabilities being more than the assets, although the bank account of the company has the money but on paper it appears to be insolvent. She suggested that perhaps the term can be changed from technical insolvency to a “concern regarding the going-concern”.
Members suggested that under Observations of the Committee, paragraph 6.9 be re-formulated.
The Committee adjourned briefly to allow the Secretariat team to draft the proposed observation. Upon completion, Adv Nel read out the re-formulated sentence to which Members agreed to.
The Chairperson announced that Members will receive the latest document with the changes, but there were no substantive amendments that were made by members.
The Report was adopted with changes.
The meeting was declared adjourned.
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