Mayor Masina Reaffirms City’s Commitment Towards Sound Fiscal Management
In his address to Council on Thursday, 30 January, Executive Mayor Cllr Mzwandile Masina provided a detailed assessment of the City’s performance in terms of good governance, and sound fiscal management. This takes place on the backdrop of the Auditor General having recently released their Audit Findings on the City.
The City achieved the following highlights from the audit:
- Achieved an unqualified audit for the financial year 2018/2019;
- Received a Clean Audit on financial statements;
- Incurred zero unauthorised, fruitless and wasteful expenditure (for the second consecutive year);
- Irregular expenditure decreased from R215 million in the previous financial year to R5 million in the 2018/2019 annual review;
- Collection rate stood at 91% for the financial year in review;
- The City complied with 30 days payment of all invoices;
- Capex expenditure for the year stood at 94.31%;
- Overall Grant Funding spending for the year was 94%;
- Cash on hand for the year R3,5 billion;
- The City performed well on cost containment worth R138,6 million for year under review;
- Management of both water and electricity losses are both below national standards;
- Achieved a 70% reduction in the number of non-compliance paragraphs recorded in the audit report;
- The City continues to shoulder the cost of a social package of R4 billion per annum.
“We achieved this great result through various critical mechanisms. For one thing, most instances of irregular, fruitless and wasteful expenditure that were reported in previous years were subjected to an investigation to ensure that consequence management is instituted by the City against transgressors,” Mayor Masina said. The City of Ekurhuleni remains the leader in the area of good governance and financial management amongst the three metros in Gauteng.
“It is only in so doing that we can all hold our heads up high and proudly proclaim ourselves as public servants who served with pride and distinction. To do less than we committed would be to betray not just our promises, but the people of Ekurhuleni. We dare not commit so atrocious an act,” said Mayor Masina