The City of Tshwane, excluding the municipal entities, is no longer in deficit, mayor Solly Msimanga says. The metro’s unaudited financial statements at the end of the 2016-17 year showed it had a surplus of revenue over expenditure of R635m, he said. When Msimanga took over the reins, as executive mayor of the metro, it was in deficit of more than R2bn. The city has an operating budget of R30bn for this financial year, with R3.9bn budgeted for capital expenditure. Msimanga said this was achieved by tightening financial controls over expenditure in line with the amounts appropriated in the approved budget for 2016-17. "We began by optimising procurement processes to derive value for money, instituting stringent budget controls and identifying and eradicating wasteful expenditure," he said. Unauthorised expenditure declined from R1.6bn in 2015-16 to R634m in 2016-17. The city spent R3.1bn out of the budgeted R4.4bn of its capital expenditure budget. It included R950m earmarked for th...
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