Page 10 - CAO Annual Report 2024/2025

CENTRAL APPLICATIONS OFFICE
He affirmed the success of the year under review and paid particular attention to the increase in applications that all our member institutions have gained even throughout the COVID 19 pandemic. He highlighted the strides made by the CAO in a number of areas, including but not limited to being a financially sustainable organization.
He ascribes its financial sustainability to its careful management of the finances. This has allowed the CAO to remain a viable organization. A noteworthy feat has been to ensure that students from across the KwaZulu-Natal province has access to career information for the respective academic programmes at the KZN institutions.
The continuous improvement of its systems and processes and ensuring that our IT System is geared with the latest technologies places the CAO at the forefront of central applications systems. CAO has designed and developed two IT applications systems; one for operating the CAO and the other for operating the Central Applications Service (CAS) for the department of Higher Education and Training.
Finally, he stressed the important contribution and collaboration that the CAO has with DHET in respect of the development and implementation of the Central Applications Service.
The Chairperson then moved directly to tabling the minutes of the last AGM held on the 28th October 2023. As there were no “Matters Arising” he requested the adoption of the following resolution: be
RESOLUTION 1: The Annual General Meeting resolves that the minutes tabled at this meeting are a true record of the proceedings of the Annual General Meeting of 28 October 2023.
Moved by Mr Darrel Wilkinson and seconded by Prof Sibusiso Chalufu.
The MC thanked the Chairperson and announced the next sequence of business, which was the 2023/2024 Annual Financial Statements for the period ending on the 29th February 2024. He then called Charmaine, our external auditor to the stage.
She greeted the assembled gathering and announced that she would present the Annual Financial Statements for the period from the 1st March 2023 up to the 29th February 2024.
She reported that the auditors have audited the financials for CAO and have given it an unqualified audit opinion. She further stated that the CAO has had another successful year with income of around 80 million rands and an operational expenditure of 71 million rands. The operating surplus for the year was 9 million rands and with 3.7 million rands interest giving a total surplus of 12 million rands. The accumulatedsurplusbroughtforwardfromthepreviousfinancialperiodwas91millionrandsandweended theyearwithanaccumulated surplus of 104 million rands. The 104 million rands is therefore the net asset value of CAO.
At the conclusion of the Internal Auditor’s Report the chairperson confirmed that The Board of Directors had already approved the annual financial statements and the consolidated financial statements prepared by the auditing firm, VN Kandilal and company.
He called for any questions regarding the financials and as there were none he called for the adoption of the financials.
RESOLUTION 2: The meeting resolved to accept the reports of the auditor and of the Board of Directors regarding the statutory accounts and the consolidated accounts for the financial year ended 29 February 2024.
Moved by Dr Sibusiso Chalufu and seconded by Mr Zakhele Gumede.
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