Municipal Finance Management Act (MFMA): Budget and Performance Assessment Report in Terms of the MFMA, Section 72 (1) (A), for the Six (6) Months Ended 31 December 2020
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The purpose of this report is to inform Council of the municipality’s midterm actual performance (2020/21 financial year) against the approved adjusted budget in compliance with Section 72 (1) (a) and 52 (d) of the MFMA and the requirements as promulgated in the Government Gazette No 32141 of 17 April 2009, by providing a statement on the implementation of the budget and financial state of affairs of the municipality to the Executive Mayor, as legislated.
The strategic objective of this report is to ensure good governance, financial viability and optimal institutional transformation with capacity to execute its mandate.
Section 72(1) of the MFMA and Section 28 of Government Gazette Notice 32141 dated 17 April 2009, regarding the “Local Government: Municipal Finance Management Act of 2003 and Municipal Budget and Reporting Regulations” necessitates that specific financial particulars be reported on and in a prescribed format, hence this report to meet legislative compliance.