National Consumer Tribunal Annual Report 2011/12 National Consumer Tribunal 2011-12 | Page 74

Annual Financial Statements
REPORT OF THE ACCOUNTING AUTHORITY
1.
Nature of Business
The National Consumer Tribunal was established in terms of the National Credit Act 34
of 2005 (NCA) and is listed as a national public entity in terms of Schedule 3A of the
Public Finance Management Act 1 of 1999 (PFMA). The Chairperson of the Tribunal is the
Accounting Authority in terms of the establishment of the Tribunal.
The functions of the National Consumer Tribunal are:
•
•
•
To adjudicate on matters arising under the NCA by determining when prohibited conduct
has occurred;
To hear applications for review of decisions of the National Credit Regulator;
To assist consumers resolve disputes against credit providers, debt counsellors and
credit bureaux, once other attempts at dispute resolution have failed.
2.
Financial Overview
Financial results

Total revenue
Total expenditure
Net Surplus
Total assets
Total liabilities

Financial performance
The Tribunal received a grant of R22 059 000 from the dti for the 2010/2011 financial year, an
increase of 26%. Filing fees generated an income of R138 300, which is a significant increase
of 2,42 times over the previous year (2009/2010: R40 503). An accumulated surplus of
R2 652 562 from the 2009/2010 financial year was rolled over. Approval was obtained for
the retention of the surplus for the 2009/2010 financial year.
The grant received from the dti made up 97,7% of the Tribunal’s revenue for the period
under review (2009/2010: 98,7%). In order to ensure that the Tribunal is in a position to fulfill
its mandate, the dti grant to the Tribunal increased by R4 540 000, from R17 519 000 for
2010 to R22 059 000 in the year under review. There was an increase in contribution of filing
fees to 0,61% of total revenue (2009/2010: 0,23% of total revenue) and is attributable to an
increase in the number of cases received compared to 2009/2010. The number of cases
increased from 488 (2009/2010) to 1 382 (2010/2011). The interest contribution increased
marginally to 1,66% (2009/2010: 1,07%). The Tribunal has invested its funds during the
financial year at the Corporation for Public Deposits.
Total expenditure for the year under review increased by 14%.
The significant changes in expenditure were in the areas of legal fees, temporary staffing,
fees paid to recruitment partners, and office rentals.
The Tribunal extended its lease and increased the leased space due to staff space
requirements at its current premises from 1 September 2010 to 31 August 2011. The
Tribunal expanded its structure in 2010/2011 in light of the inadequacy of the previous
structure to meet the Tribunal’s mandate. The increase in the number of positions resulted
Annual Report 2011
page 72 | national consumer tribunal

R 22 572 978
R 20 508 704
R 1 970 137
R 8 289 313
R 3 666 614