In relation to the financial performance for the period under review, the CFO, Mr A Nongogo reported that the revenue from skills development levy was R1.2 billion and the surplus was R469 million. An amount of R185 million surplus was forfeited to the National Skills Fund (NSF) in terms of SETA Grant Regulations. An amount of R148 million was transferred to the National Student Financial Aid Scheme (NSFAS) for bursaries support and R162.7 million to the NSF for Public Further Education and Training (FET) infrastructure support. The cash balance of the SSETA was R2.3 billion of which R274.4 million was already committed. The irregular expenditure decreased from R141.4 million in 2012.13 to R63.9 million in 2013.14 financial year.