5.1 National Skills Fund . The Portfolio Committee commended the entity's key achievement in funding the national skills development priorities as identified in the NSDS III, National Growth Path, Industrial Policy Action Plan (IPAP) 2013/14-2015/16, and Medium Term Strategic Framework 2009-2014. The funding of infrastructure development for the post-school education and training institutions to expand access and success to education and training was also commended, though the delay in the building of the TVET College campuses was not well received. . The Portfolio Committee was seriously concerned that 60% of vacancies at the entity were not yet filled and this inadequate capacity might impact on project monitoring and evaluation given the increase in the number of projects that have committed funds. . It was raised with concern that the Annual Report 2013/14 of the entity was inaccurate in relation to its financial statements and the targets for the period under review were unreliable and vague. . Inaccurate and untimely financial and performance reporting resulting in non-compliance with laws and regulations was highlighted as serious concern that need to be addressed by the entity. . The Portfolio Committee noted with concern that the NSF is not a legal persona. . It was raised with concern that though the Skills Development Act provided for the discretion of the Minister and the Director-General on funding of some projects, there was a need for objectivity. . The Portfolio Committee was concerned that though the NSF was listed as a Schedule 3A Public Entity in 2012, it relied on the Department's supply chain management policies, Information and Communication Technology (ICT) systems, Human Resource Policies and other policies. . In relation to achievement of targets, the Portfolio Committee was concerned with the under-achievement in the targets set for the period under review. . Given the financial reserves that are managed by the entity, the Portfolio Committee was concerned with inadequate record and information management system for financial and performance reporting. . The Portfolio Committee was of the view that the entity should contribute more in funding needy students in universities and Technical and Vocational Education and Training (TVET) Colleges to supplement the current National Student Financial Aid Scheme (NSFAS) budget shortfall. . It was noted with concern that though the NSF operated as a disbursement agency, the tracking of learners or beneficiaries for its projects was solely outsourced to the institutions which received the NSF grants. Furthermore, NSF could not account on the progression of the beneficiaries or learners funded. . The Portfolio Committee commended the Department for the new SETA grant regulations which would allow unspent SETA surpluses to be re- directed to the NSF for other priority projects.