Ricochet News

R6.2-million of European Union funds unspent in 2013/14

SEPTEMBER 30, 2014
R6.2-million of European Union funds unspent in 2013/14

A total of R6.2 million of the R8.9 mil-lion provided by the European Union for the Motherwell Urban Renewal Programme was not spent in the 2013/14 financial year and will be rolled over to 2014/15.

In a report to the Budget and Treasury Committee, Special Projects ex-plains that over the last few years urban development in the Eastern Cape, and specifically in the metros of Nelson Mandela Bay and Buffalo City has been supported by the EU Commission.

It says that based on the financing agreement with the EU, the Sector Policy Support Programme was launched in Motherwell in July 2006.

It was agreed the funding would paid in tranches and the first and second tranche totalling R53.4 million was paid and “finally spent by June 2011”. The third tranches of R32 million was received on December 20, 2012.

The report notes that it is “unlikely” that the full amount of R8.9 million would have been spent by June 30 this year and therefore motivated for a rollover of R6.2 million.

One effect of the roll over is that of the R2 million that was allocated for ward-based projects R508 082.00 will not have been spent, while R181 000 of the R690 000 earmarked for youth development will also be rolled over.

Of the R235 430 earmarked for crime prevention R66 085 has not been spent while of the R250 000 for the Nelson Mandela Peace Park R154 416 has not been spent. - metrominutes


IMAGE sourced from ipolitics.gr