PREVIEW: Crunching the numbers on municipal finances

municipal finances
Municipal finances have been a point of debate for some time.

Experts believe they are not overstating the seriousness of the current municipal finances.

Even turning the situation around is expected to take many years.

IFP councillor, Dr Koos Vorster has compared statements, reports and reviews to reinforce his belief that Newcastle Municipality is in a financial crisis.

ALSO READ: PREVIEW: Newcastle Municipality one of KZN’s worst for 2017

“A big issue is unauthorised, fruitless and wasteful expenditure but the legislation was never implemented.”

Problems are said to have started during the 2015/2016 financial year.

According to Mayor, Makhosini Nkosi the Budget was based on loans, which were then turned down.

This resulted in equitable shares from the 2016/2017 year being used instead.

Another of the burning questions asked by those in the know, is whether municipal finances warranted Newcastle Municipality being placed under administration.

This would entail executive control being given over to provincial government.

For the full story on municipal finances, read this week’s Newcastle Advertiser.

The latest edition is on shelves from Thursday onward.

municipal finances

Find the full story in this week’s Newcastle Advertiser.

 

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  AUTHOR
Bruce Douglas
Journalist

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