Question NW2332 to the Dr M J Figg (DA) asked the Minister of Public Works
28 August 2017 - NW2332
Figg, Mr MJ to ask the Dr M J Figg (DA) asked the Minister of Public Works
Whether any entities in his department are in a financial crisis; if so, what are the relevant details?
Reply:
Council for Built Environment (CBE)
The CBE has no financial crisis, besides the pressure on the budgets due to the growth in the organisation and inflationary expenditure escalations.
Construction Industry Development Board (CIDB)
The CIDB has never been at any stage deemed to be in financial crisis. This is further supported by the Auditor-General’s audit reports which consistently assessed the CIDB’s financial viability to be good.
Agrement South Africa (ASA)
ASA does not have any financial crisis.
Independent Development Trust (IDT)
IDT does not have any financial crisis. It has had going concern challenges at the beginning of 2017/18 financial year due to a budget deficit, which had no initial committed funding from National Treasury or the Department of Public Works. The National Treasury has however since committed to fund the deficit of IDT for the METF period. This is in terms of Section 4 of the 2017 Appropriations Act. Further, the entity is currently reviewing its Operating Model and Turnaround Plan in order to embolden its future financial viability and sustenance.