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Pretoria - The Road Traffic Management Corporation (RTMC) has received a clean bill of financial health for 2012/13 from Auditor General Terence Nombembe, acting CEO Collins Letsoalo said on Monday.
"I am comfortable to note and remark that we are doing very well," he told reporters in Pretoria.
"If you remember last year the problems that we had, including that the RTMC was in a state of so-called bankruptcy. We were also having a major deficit of about R200m," he said.
However, the current financial figures clearly showed the RTMC was in a better position.
Letsoalo made a presentation on the finances of the RTMC.
One slide indicated that the cash and cash equivalents for the financial year that ended March 31, 2013 stood at R375m, compared to R130m in 2012.
The RTMC's total net assets were R418m.
"You can see from the figures that the RTMC is in a better position," said Letsoalo.
"You would see it from our financials that the balance sheet is stable. We are a better entity than we were in 2010."
Problems in the RTMC between 2009 and 2012 included mismanagement, corruption, poor governance, instability, and various investigations.
Letsoalo said the corporation would not tolerate corruption and any person linked to corruption would be suspended immediately and the matter dealt with in four weeks.
"We will never ever tolerate corruption because we believe that it undermines the effort of all the people that are out there trying to make a difference," he said.
"We are pumping a lot of resources into this. We do spend money trying to find these people so we can prosecute them," he said.
On e-tolling on Gauteng's freeways, Letsoalo said the RTMC did not have an agreement with the SA National Roads Agency (Sanral).
An earlier pact ended after the RTMC had to write off money owed by Sanral.
"Should there be a need in the future we can engage on that, but for now we do not have anything [to do] with Sanral, nor are we monitoring the tolls at all."
Letsoalo said deliberations on the future of the RTMC would always be present, but he hoped the clean audit would change the concerns shareholders had.
"If you were looking at the past of what has happened in the RTMC, we had adverse opinions, [but] for the second year in a row we have got a clean audit," he said.
"Our financial health has improved tremendously and you can see that we are doing very well."
In April shareholder committee members of the RTMC wanted the agency shut down for failing to fulfil its purpose.
The RTMC also displayed some of the vehicles the traffic police used, as well as the survey vehicle which would be used to rate 4000km of South Africa's roads per annum to give it a rating between one star and five stars.
