RNM presents adjustment budget
The operating budget is adjusted upwards from R1.272b to R1 306b.
The mayor of Ray Nkonyeni Municipality, Zodwa Mzindle, presented the 2024/2025 adjustment budget at a council meeting last week.
She added that the municipality may revise an approved annual budget through an adjustment budget if the budget seeks to appropriate additional revenues that have become available over and above those anticipated in the annual budget.
It can also be revised or accelerate spending programmes already budgeted for.
“An adjustments budget may also authorise the spending of funds that were unspent at the end of the past financial year, where the underspending could not reasonably have been foreseen, at the time, to include projected rollovers when the annual budget for the current year was approved by the council.”
Mzindle announced the operating budget is adjusted upwards from R1.272b to R1.306b.
She said this is largely because of grants and transfers received.
“We must also point out that internal resource revenue has declined by R3.2m.”
The capital budget is R188m, with a proposed downward adjustment of R1.9m.
According to Mzindle, this is because some capital projects could not go ahead due to the strike action last year.
Also, the original budget for councillors’ remuneration was R34.185m; this line item has been increased by R803 000.
The original budget for contracted services was R227.033m, which has been adjusted to R228.241m.
HAVE YOUR SAY
Like the South Coast Herald’s Facebook page, follow us on Twitter and Instagram
