Income For Operating Budget To Reach R9.8 Billion By 2017/18

SEPTEMBER 12, 2014

Nelson Mandela Bay’s projected income to finance the Operating Budget will reach R9.8 billion by the 2017/18 financial year, nearly R1.7 billion more than income in the current financial year.

Figures to be presented to Council next week show that revenue from electricity charges is expected to reach R3.94 billion by 2017/18 from R3.18 billion in 2014/15.

Over the same period bulk purchases of electricity are projected to increase from R2.29 billion to R2.89 billion.

The multi-year budget projections for the period 2014/15 to 2017/18, show that the municipality expected to collect R1.82 billion from property rates in 2017/18, compared to R1.27 billion in the current financial year.

Revenue from water service charges is expected to climb from R558.2 million in the current financial year to R805.5 million by 2017/18.

Over the same period, however, the cost of bulk water purchases is projected to increase from R92.9 million to R130.6 million.

Income from sanitation service charges is projected to increase from R384.6 million to R550.0 million over the four-year period, while revenue from refuse charges is expected to rise from R200.1 million to R281.1 million.

Interest earned on outstanding debtors is projected to increase from a fraction under R183 million to R233.5 million.

Revenue from fines is projected to grow from R36.8 million in 2014/15 to R43.9 million by 2017/18.