Question NW332 to the Minister of Higher Education and Training
01 April 2016 - NW332
Bozzoli, Prof B to ask the Minister of Higher Education and Training
(a) What was the precise financial standing of the (i) University of Fort Hare, (ii) University of Zululand, (iii) Walter Sisulu University, (iv) University of the North, (v) University of Venda and (vi) University of KwaZulu-Natal as at the end of the 2014-15 financial year and (b) what will the estimated financial standing of each of the specified universities be at the end of the 2015-16 financial year in each case?
Reply:
(a) The Annual Reports of all universities are published on their respective websites and can be obtained for further analysis. The financial analysis of these universities for the 2013 and 2014 financial years are as follows:
(i) University of Fort Hare
Net assets decreased from R519.3 million in 2013 to R407.8 million in 2014. Unrestricted net assets decreased from R330.6 million to R210.4 million in 2014.
(ii) University of Zululand
Net assets decreased from R1.6 billion in 2013 to R1.4 billion in 2014. The University continues to show growth in unrestricted net assets increasing from R82.5 million to R186 million in 2014.
(iii) Walter Sisulu University
Net assets increased from R59.8 million in 2013 to R116.3 million in 2014. The University decreased its accumulated deficits from R330.8 million to R273.7 million in 2014, another indicator that the University is dealing with the deficits incurred in prior years.
(iv) University of Limpopo (formerly known as University of the North)
Net assets has increased from R2.4 million in 2013 to R2.8 billion in 2014. Unrestricted net assets increased from R225.5 million to R262 million in 2014.
(v) University of Venda
Net assets increased from R1 billion in 2013 to R1.4 billion in 2014. Unrestricted net assets increased from R523.8 million to R548.4 million in 2014.
(vi) University of KwaZulu-Natal
Net assets increased from R3.896 billion in 2013 to R3.915 billion in 2014. However, the University has increased its deficits on unrestricted net assets from R568.9 million to R773.7 million in 2014.
(b) The 2015 information is currently not available, as universities are only required to submit their 2015 Annual Financial Statements on or before 30 June 2016.
Compiler/contact persons: Ms P Whittle
Ext: 5248
DIRECTOR – GENERAL
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DATE:
REPLY TO QUESTION 332 APPROVED/NOT APPROVED/AMENDED
Dr BE NZIMANDE, MP
MINISTER OF HIGHER EDUCATION AND TRAINING
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