SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Prepare a budget for a local economic development project and prepare the relevant financial reports 
SAQA US ID UNIT STANDARD TITLE
110482  Prepare a budget for a local economic development project and prepare the relevant financial reports 
ORIGINATOR
SGB Economics 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 5  Level TBA: Pre-2009 was L5 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for people who are, or seek to be, employed as a supervisor or manager in the local economic development context in South Africa. It provides the learner with the opportunity to budget and account for a local economic development project.

People credited with this Unit Standard are able to:
  • Explain the concept of budgeting
  • Analyse the budget needs and requirements of a local economic development project and present and justify a proposed budget
  • Monitor and control project funds against the actual drawings. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in:
  • Communication at NQF Level 4
  • Mathematical Literacy at NQF level 4
  • Accounting at NQF Level 4. 

  • UNIT STANDARD RANGE 
  • The budget includes: capital costs; operational costs; funding required or available; income to be generated
  • Financial reports include: variance reports; bank statements; cash flow; income statement; balance sheet. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Explain the concept of budgeting. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Budgeting is defined in terms of income and expenditure and the variance of actual expenditure from budgeted amount. 

    ASSESSMENT CRITERION 2 
    2. Income is discussed in terms of initial funding and subsequent self-generated income as applicable. 

    ASSESSMENT CRITERION 3 
    3. Expenditure is discussed in terms of capital and operational costs. 

    SPECIFIC OUTCOME 2 
    Analyse the budget needs and requirements of a local economic development project. 
    OUTCOME NOTES 
    Analyse the budget needs and requirements of a local economic development project and present and justify a proposed budget. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. A local economic development project is identified in terms of its objectives and environmental characteristics and constraints. 

    ASSESSMENT CRITERION 2 
    2. An analysis is done of the costs of establishing and operating the project. 

    ASSESSMENT CRITERION 3 
    3. The funding required is calculated making allowances for any expected operational income. 

    ASSESSMENT CRITERION 4 
    4. A budget document is prepared that consolidates the work in progress. 

    ASSESSMENT CRITERION 5 
    5. The project budget is presented for approval and the various elements of the budget are explained in order to motivate for their inclusion. 

    SPECIFIC OUTCOME 3 
    Monitor and control project funds against the actual drawings. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Appropriate financial reports are prepared to monitor project funds against actual drawings according to local authority requirements. 

    ASSESSMENT CRITERION 2 
    2. The financial reports meet the standards of generally accepted accounting practice as well as any reasonable requirements of the funding source, if applicable. 

    ASSESSMENT CRITERION 3 
    3. The financial reports are used as a basis to authorise expenditure/drawings and monitor progress. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    1. Anyone assessing a learner against this Unit Standard must be registered as an assessor with the relevant ETQA, or with an ETQA that has a Memorandum of Understanding with the relevant ETQA.

    2. Any institution offering learning that will enable achievement of this Unit Standard or will assess this Unit Standard must be accredited as a provider with the relevant ETQ, or with an ETQA that has a Memorandum of Understanding with the relevant ETQA.

    3. Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines in the relevant qualification and the agreed ETQA procedures or with an ETQA that has a Memorandum of Understanding with the relevant ETQA.

    4. Therefore, anyone wishing to be assessed against this Unit Standard may apply to be assessed by any assessment agency, assessor or provider institution that is accredited by the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA. 

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • Basic principles of accounting
  • GAAP
  • Financial reporting requirements and conventions of municipalities
  • Elements of local economic development projects from own work context 

  • UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO WORKING 
    Work effectively with others as a member of a team, group, organization and community by, e.g.
  • Presenting a project budget for approval according to assessment criterion:
    "The project budget is presented for approval and the various elements of the budget are explained in order to motivate for their inclusion"
  • Using financial reports as a basis to authorise expenditure/ drawings and monitor progress according to assessment criterion:
    "The financial reports are used as a basis to authorise expenditure/drawings and monitor progress." 

  • UNIT STANDARD CCFO ORGANISING 
    Organise and manage oneself and one`s activities responsibly and effectively by, e.g.
  • Analysing the costs of establishing and operating the project according to assessment criterion:
    "An analysis is done of the costs of establishing and operating the project"
  • Preparing a budget document according to assessment criterion:
    "A budget document is prepared that consolidates the work in progress" 

  • UNIT STANDARD CCFO COLLECTING 
    Collect, analyse, organize and critically evaluate information by, e.g.
  • Preparing a budget for a local economic development project and preparing the relevant financial reports according to the assessment criteria for specific outcomes;
  • Explain the concept of budgeting
  • Analyse the budget needs and requirements of a local economic development project and present and justify a proposed budget
  • Monitor and control project funds against the actual drawings. 

  • UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using visual, mathematical and/ or language skills in the modes of oral and/or written presentation by, e.g.
  • Presenting the project budget for approval according to assessment criterion. 

  • UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    N/A 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  36438   National Certificate: Local Economic Development  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2023-06-30  LG SETA 
    Elective  57427   National Certificate: Youth Development  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2023-06-30  ETDP SETA 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. AfroXpert Performance Developement cc 
    2. Akadon Trading (Pty) Ltd 
    3. Bokatoka Construction and Projects 
    4. CB Willemse Training 
    5. Cradle Stars Trading Enterprise 
    6. Development Bank of Southern Africa (DBSA) 
    7. Elvis Koena Consulting (Pty) Ltd 
    8. Ethembeni Multi Service Enterprise (Pty) Ltd 
    9. Growth Management Consulting 
    10. HDPSA 
    11. Hlombe and Associates 
    12. ICM t/a Institute for Career Management 
    13. Josmap Training Institute 
    14. Lekoko Consulting (PTY) LTD 
    15. LETZAA Group 
    16. Magnico Products (PTY) LTD 
    17. Magumzane Traiding cc 
    18. Mamuhle Academy 
    19. Management College of Southern Africa (MANCOSA) 
    20. MML Consulting CC. 
    21. Mortarboard Training Solutions 
    22. MUHANGWENE DEVELOPMENT ENTERPRISE 
    23. Pioneer Business Consulting 
    24. PMA Holdings (PTY ) LTD. 
    25. Princetop Corporative Training (Pty) Ltd 
    26. Progressive School of Business and Engineering (Pty) 
    27. PTDEV (Pty) Ltd 
    28. Regent Business School (Pty) Ltd t/a Regent Business School 
    29. Sebenzisanane Human Capital 
    30. SIZA NESU TRAINING AND DEVELOPMENT 
    31. South West Gauteng College - Molapo Campus 
    32. Talent Emporium Academy (PTY) Ltd 
    33. Thinking Mind Trading 
    34. Thuto-Boswa Education and Training Solution 
    35. Tloumogale Business Development & Consulting 
    36. Transafric Consulting Pty Ltd 
    37. Tshepang Consulting & Project 
    38. Tshisimani Holdings (PTY) Ltd. 
    39. Tumpu Trading and Projects 
    40. UNIVERSITY OF BUSINESS EXCELLENCE(PTY)LTD 
    41. VEZOKUHLE YOUTH DEVELOPMENT PROJECT 
    42. Vicmat Consultants 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.