NMB Grant-in-Aid Allocations could be Approved on Friday
The grant-in-aid allocations for the 2014/15 financial year could be approved when the Budget and Treasury Committee meets on Friday afternoon.
The allocations could not be approved last week.
If approved by the committee it might be possible for the full council to endorse the committee’s decision when it meets for the last time this year on December 4.
Also on the agenda for Friday is the quarterly financial report for the first quarter of the 2014/15 financial year ending September 30, which shows that overdue consumer debts increased by R135.6 million or 6.9% in the three months to September 30.
The average debtors’ collection rate at September was 92.20% against a target of 94%.
The report from Chief Financial Officer (CFO) Trevor Harper, also points out that that the capital budget for the Integrated Public Transport System (IPTS) was overspent by some R126.8 million in the last financial year, adding that that this constitutes “unauthorised expenditure”.
The CFO warns in his report that the IPTS unauthorised expenditure on this project “has resulted in a decline in the municipality’s cash position and placed the funding status of the 2014/15 Budget at risk”.
Harper also reports that capital expenditure at the end of the first quarter of 2014/15 constituted 11.8% of the approved budget.
Operating revenue for the period amounts to R1.83 billion and operating expenditure R1.86 billion resulting in an operating deficit of R36.1 million in the first quarter. - MetroMinutes.
Photo courtesy of www.washcova.com
Four people, including a woman, escaped unhurt after...
On Sunday, the whole of South Africa cheered...
The Nelson Mandela Metropolitan University (NMMU) choir
The Student Representative Council (SRC) at the...
NMMU’s famous choir will be appearing on...
Around 1 000 women from the Eastern Cape left...
The Pokémon GO group of Port Elizabeth...
On Friday Suicide Squad opened in Port Elizabeth...
- NMMU expresses shock at discriminatory comments allegedly made by staff member
- Buffalo City Municipality ANC Councillor bunks all meetings since August 2016; DA wants her gone
- The Great Moscow Circus Big Top Goes Up at The Boardwalk!!
- Alexandria man in court for possession of drugs and stolen property worth R120 000
- Port Elizabeth schools – ready, set, RECYCLE and win!