wc-provincial-treasury-2024_25-annual-report.pdf

Summary

This document presents the Provincial Treasury's (PT) annual report for the financial year ending 31 March 2025, providing a comprehensive overview of the department’s operational, financial, and compliance status. The report is structured around four main programs—Administration, Sustainable Resource Management, Asset Management, and Financial Governance—detailing institutional performance and expenditure against an actual total of R294.412 million. Key service achievements discussed include the successful implementation and improvement of the External Bursary Programme, which met most desired performance standards for youth outreach. Governance mechanisms are clearly articulated through processes such as quarterly Enterprise Risk Management (ERM) assessments and adherence to the Public Finance Management Act (PFMA), with continuous efforts aimed at reducing irregular expenditure. Additionally, the PT maintains an active oversight role for two established Public Private Partnerships (PPPs) and provides strategic financial assistance to fiscally vulnerable municipalities. Finally, the department highlights a strong commitment to human capital through its Talent Management Strategy and success in diversity initiatives, surpassing the national employment equity target for staff with disabilities.