MFMA Quarterly in Year Report (January, February and March 2023)
MUNICIPAL FINANCE MANAGEMENT ACT (MFMA): PRELIMINARY BUDGET AND PERFORMANCE ASSESSMENT REPORT IN TERMS OF THE MFMA, SECTION 52(d), FOR THE QUARTER ENDED 31 MARCH 2023
The purpose of this report is to inform Council of the municipality’s first quarter actual performance (2022/23 financial year) against the adjusted budget in compliance with Section 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 52(d) 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. In terms of section 52(d) of the MFMA, “The mayor of a municipality must, within 30 days of the end of each quarter, submit a report to the council on the implementation of the budget and the financial state of affairs of the municipality”.