The City of Johannesburg has strengthened its financial position according to its unaudited financial statements, mayor Herman Mashaba said on Thursday. He said the city closed the 2017-18 financial year, which ended on June 30, in a stronger financial position than it was at the end of the 2016-17 financial year. Mashaba said in a statement that the ANC’s claim that the city faced imminent financial collapse, did not materialise and the city continued to strengthen its financial position. He said the capital expenditure level was at 89% of its expenditure budget, according to the unaudited statements, and it had improved from 78% in the 2016-17 financial year. Mashaba said the city spent 98% of the urban settlements development grant (USDG). He said the grant made up most of the grant funding, and supported municipalities’ work in infrastructure development. "This is particularly critical given the massive infrastructural backlogs impacting service delivery in Johannesburg," Mashab...

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