Western Cape Treasury's Unbroken Record: 11 Years of Unqualified Audits

The Western Cape Provincial Treasury has once again demonstrated exemplary financial stewardship by securing its 11th successive unqualified audit opinion for the fiscal year 2023/24. This remarkable achievement, as reported by Cape Town Etc, reaffirms the province's dedication to sustaining high standards of financial governance and accountability.

Under the seasoned leadership of Finance Minister Deidré Baartman and Julinda Gantana, the first female head of the Provincial Treasury, the department has maintained a track record of prudence in managing public resources, particularly against a backdrop of economic duress.

This morning we presented Provincial Treasury’s 2023/2024 Annual Report before the @WCProvParl 📑📊

The Department achieved its 11th unqualified audit opinion for the 2023/24 financial year. ✅

Congratulations to the Provincial Treasury on a job well done 👏🏽 pic.twitter.com/99RLMloCF4

— Deidré Baartman (@deidrebaartman) October 21, 2024

In the face of these financial challenges, the Treasury has been far from complacent; it has embedded innovative approaches to bolster its fiscal standing. The result of its unwavering commitment to fiscal discipline is also mirrored in the unqualified audit outcomes granted to the Provincial Revenue Fund and the Western Cape Gambling and Racing Board.

A notable endeavor of the Treasury within the 2023/24 financial year involved aiding municipalities with their financial governance. Direct interventions were made to cultivate improvements in audit performance and to formulate financial recovery strategies for economically struggling jurisdictions, such as Beaufort West and Kannaland.

The Treasury's initiatives also encompassed advancing the financial acumen within the province through its authoritative Municipal Economic Review and Outlook report, offering crucial intelligence to steer municipal and provincial decision-making. The efforts to modernize supply chain management (SCM) have been significant as well, marked by the implementation of an e-Procurement Solution that ushers in a new era of electronic procurement administration throughout the Western Cape government.

The Provincial Treasury's proactive engagement with local governments, through conferences and forums, has enhanced SCM processes and local economic development. Through workshops like the Smart Procurement Conference and SCM-Local Economic Development Indaba, it resolved hundreds of SCM enquiries associated with local governance.

Additionally, the Provincial Treasury has shown its resolve to nurture future experts in financial administration. By providing bursaries and accredited training opportunities—such as through its Chartered Accountants Academy—it is actively contributing to building a robust skills pipeline that will serve the financial sector of the province in the long run.

The unbroken chain of unqualified audits stands as a testament to the Western Cape Treasury's rigorous financial oversight and strategic planning. With an eye towards sustained financial viability, Minister Baartman reaffirmed the mission of ensuring the judicious use of public funds, ultimately fortifying service delivery across the province.