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The current year expenses were calculated the same as previous years only on
a different level.
Figures are not being moved around from year to year although the focus on
where the money need to be spent might change.
The auditor was comfortable on how the money is spent according to budget,
with a mandate from the NAMC. SAPPO does fulfil the function.
Decision:
The committee members accepted the audited financial statements. A
recommendation must be made to the board to accept and authorise the
Annual Financial statements.
10. GENERAL
10.1 Agri SA
It was noted that AgriSA was currently delivering HR and financial services to
SAPPO. SAPPO was concerned that due to the human resources restructuring
of AgriSA future problems might be experienced in the functionality and
sustainability of the SAPPO financial services. The yearly expense for the service
at AgriSA was more or less than R220 000.
Research was done to outsource the HR and financial services again. To
appoint a full-time person with the same level of training and experience will
cost more than R20 000/month.
Decision:
Johann Kotzé has the mandate to go ahead to find a suitable solution for the
HR and financial services. The expenses could range between R200 000 to
R300 000 per year.
After identifying the relevant company Johann Kotzé must discuss it with
Johann van der Walt and Stephen Butt before making a recommendation to
the Audit Committee.
11. DATE OF THE NEXT MEETING
15 October 2020
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