Learnership Management System

Re: SETA Administration costs 2014

SETA finances

Each SETA has to transfer unclaimed mandatory funds and interest earned there on into the discretionary grant fund and this has to be completed by 15 August each year. Any administrative funds and interest earned on these funds that are not spent must be moved into the discretionary fund by 31 March of each year.

The amounts in the discretionary fund on 1 April every year and the money received from discretionary levies every month must be spent in the following 12 months.

Every SETA must allocate 80% of its discretionary grants within a financial year to PIVOTAL programmes that address scarce and critical skills. SETA’s will only be allowed to carry over 5% uncommitted funds to the next financial year and by implication have to have spent 95% of their discretionary funds by 31 March each year.

Any surplus discretionary funds will be paid to the National Skills Fund (NSF) by 1 October of each year.