Treasury to implement standard municipal financial reporting
The MEC said slow economic growth had a significant impact on employment during 2016.
MIDDELBURG – A sum of R44,5 billion has been allocated for government projects in the 2017/18 financial year.
This was announced by MEC for finance, Mr Sikhumbuzo Eric Kholwane, during his tabling of the provincial budget for 2017/18 at Themba Senamela Stadium last week.
He also announced that cost-containment measures will continue in the financial year starting on April 1.
Out of the R1,8 billion set aside for road infrastructure upgrades, rehabilitation and maintenance, R6,8 million has been budgeted for by national and provincial government for the rehabilitation of coal haulage routes.
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Kholwane said departments will have to play their role by stating clear timelines when they table their policy and budget statements.
According to Kholwane, the municipal standard chart of accounts will be implemented by all municipalities with effect from July 1 to improve public confidence and transparency in municipal budgeting and reporting.
“The introduction of this common reporting system will ensure consistency in financial information disseminated for public consumption, making it easier for communities to hold all spheres of government accountable for spending of public funds,” he said.
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The department of education received 43,4 per cent of the total budget with R19,3 billion, and R200 million more was allocated to start construction of a new boarding school in Thaba Chweu in 2017/18.
The health department was allocated R12 billion, which is 27 per cent of the overall budget.
