Tertiary institutions rack up R113m cash deficit

2014-10-15 19:24
(File: City Press)

(File: City Press)

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Johannesburg - The cash deficit for higher education institutions was R113m for the 2013 financial year, Statistics SA said on Wednesday.

Cash receipts from operating activities amounted to R53 101m, an increase of R4 478m from 2012, according to Stats SA's financial statistics of higher education institutions.

"This increase was mainly due to increases in other receipts and grants received from the department of higher education and training."

The largest contributor to total cash receipts from operating activities were other receipts amounting to R29 938m, followed by R23 152m for grants and R10m for taxes.

Other receipts increased by R2 29m since 2012.

"The increase... was mainly due to increases in tuition fees and incidental sales by the University of Johannesburg, the University of SA, and the University of Cape Town," Stats SA said.

Grants received increased by R2 183m from 2012.

This was mainly due to an increase in transfer payments from the higher education department to Unisa, the Tshwane University of Technology, and the University of Pretoria.

The increase of R4m in taxes was due to increases in foreign exchange gains received by Unisa, Stellenbosch University, and the University of Pretoria.

Cash payments for operating activities increased by R4 828m from R41 361m in 2012 to R46 189m last year.

"[This was] mainly due to increases in compensation of employees and purchases of goods and services," Stats SA said.

The largest contributors to total cash payments for operating activities last year were R25 582m for compensation of employees, R17 795m for purchases of goods and services, R2 565m for other payments, and R247m for interest.

The compensation for employees increased by R2 401m from 2012 because of an increase in remuneration paid to employees by Unisa, North West University, and the University of the Free State.

The R2 087m increase in purchases of goods and services was mainly due to an increase by Unisa, the University of Pretoria, and the University of KwaZulu-Natal.

Other payments increased by R324m from 2012, which Stats SA said were due to increases in transfers to households by the University of Johannesburg, Unisa, and Stellenbosch University.

The R15m increase in interest paid was due to interest paid by the University of Johannesburg, the University of Witwatersrand, and the North West University.

Read more on:    stats sa  |  johannesburg  |  education

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