Question NW1282 to the Minister of Finance
28 June 2021 - NW1282
George, Dr DT to ask the Minister of Finance
(1)Whether the National Treasury has ever drawn up a consolidated balance sheet for Government; if not, why not; if so, will he furnish Dr D T George with a copy of the balance sheet; (2) whether the National Treasury is planning to draw a consolidated balance sheet for Government in future; if not, why not; if so, what are the relevant details?
Reply:
The National Treasury, annually as required by section 8 of the Public Finance Management Act, Act 1 of 1999 (PFMA), prepares consolidated financial statements (that include a statement of financial position or balance sheet) for national departments and Parliament (including the National Revenue Fund, State Debt and Loans Accounts) as well as for National public entities separately and these two sets of consolidated financial statements are then audited and tabled in Parliament. The consolidated financial statements are prepared separately for both national departments and public entities since these two types of institutions use two separate accounting frameworks. The latest sets of consolidated financial statements that were tabled in Parliament are for the 2019/2020 financial year. The consolidated financial statements are published on the Office of the Accountant-General website and can be obtained from https://oag.treasury.gov.za/Publications/Forms/AllItems.aspx?RootFolder=%2FPublications%2F04%2E%20Consolidated%20Financial%20Statements&FolderCTID=0x0120007EBBC03F454D95408FB944B7B07F6166&View={EA6E6B15-593D-4839-A804-A91A49CB20A0}