Umsobomvu Youth Fund Annual Report 2006 - Nyda

notes to thefinancialstatementsfor the year ended31 March 2006GROUP AND COMPANY2006 2005RandRand21 Related partiesDirectors’ emolumentsExecutive Director – Malose KekanaSalary for managerial services to the Fund 707 603 648 393Allowances 172 900 172 900Performance bonus – prior year 25 000 89 402Performance bonus – current year 225 000 200 000Total short-term employee benefits 1 130 503 1 110 695Provident fund 52 830 48 052Total: Executive Director 1 183 333 1 158 747Non-executive Directors’ feesAdv Richard Moloko – Fees 25 500 11 500– Travel allowance 3 942 –Kgomoco Diseko – Fees 12 000 4 000– Travel allowance 5 050 –46 492 15 500The remaining non-executive Directors are State employees and do not receive Directors’ fees in terms of theCharter of the Board of Directors.Umsobomvu Youth Fund 2006 Financial Statements74