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Joburg Finance MMC Funzela Ngobeni delivers City's 'credible' budget

24 May 2018 12:57 PM
Tags:
Municipalities
Budget speech
Gia Nicolaides said national treasury has benchmarked and assessed the proposed budgets for the 2018/2019 financial year.

Three local municipalities have tabled their 2018 budgets on Thursday, keeping a close eye on whether their financials are sound or not.

Wednesday saw the announcement of a 75% increase in irregular expenditure at municipalities nationwide.

READ: 12 of the 18 municipalities in the North West under Zweli Mkhize's care

Ekhurhuleni, Joburg and Tshwane will be tabling their budgets.

Earlier, Johannesburg MMC of Finance Funzela Ngobeni delivered the City's budget speech.

EWN Reporter, Gia Nicolaides said according to Councillor Ngobeni, National Treasury has benchmarked and assessed the proposed budgets for the 2018/2019 financial year that at R59 billion and found that it is aligned to the integrated development plan.

And despite what he calls malicious rumours of financial instability, National Treasury has determined that this budget is sustainable, credible and funded without risk.

Gia Nicolaides, EWN Reporter

He says that they have obviously taken an approach to stabilise finances within the City and this also included sustainable cash flow going forward, an issue which the city has been grappling with.

Gia Nicolaides, EWN Reporter

She reported that the MMC told council members that the billing crisis is proving to be a complex task but says the tide is turning.

And that their data management has improved with a 99% match between the deeds office and their general evaluation roll. So far they are quite happy with the progress and they have committed to ensuring that 85% of billing queries are resolved within 30 working days.

Gia Nicolaides, EWN Reporter

Listen below to the full interview:


24 May 2018 12:57 PM
Tags:
Municipalities
Budget speech

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