The Metro will today, 3 July 2017, begin transacting using the Municipal Standard Chart of Accounts (MSCOA) – a highly advanced and standardised accounting system.
This adds yet another line of defence, through accountability and transparency, against corruption and fraud.
This coalition government is committed to turning the Metro into a well-run city, where residents once again trust those in office. As one of the first major steps in respect of improving financial management and accounting, I insisted on a flawless MSCOA implementation that is reliable and complies with every deadline.
The Administration has delivered on this, thanks to the joint efforts of MMC for Budget and Treasury, Cllr Retief Odendaal, MMC for Corporate Services, Cllr Dean Biddulph, and numerous senior staff.
As one of the first Metros to have implemented and begun transacting using MSCOA, this Administration has set an important standard for the rest of the country.
All MSCOA test submissions of budget data to National Treasury came back error free last week. This confirms alignment and integration of the Municipality’s MSCOA implementation with that of National Treasury.
Transparency and accountability are non-negotiable for this government, values which MSCOA is designed to achieve. First gazetted into law in 2014, MSCOA has required massive internal data migration and a total overhaul of all accounting systems.
This government wants to see our Municipality at the front of the pack, leading by example in the delivery of excellent services, the eradication of corruption and the world-class management of finances.
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