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Consolidated cash flow position improves by more than R160 m

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The Nelson Mandela Bay Municipality’s healthy financial position received a major thumbs up from all corners including opposition parties amid frank discussions on how to improve the overall performance of the institution at a joint sitting of the Budget & Treasury and Mayoral Committees today.

The sitting, convened to consider the Adjustments Budget for 2015/2016, noted with appreciation that the cash position of the Nelson Mandela Bay Municipality improved by R163.9 million from R1,19 billion in the original 2015/16 budget to R1,36 billion in the Consolidated Adjustments budget which includes the municipal entity (MBDA).

This shows that the budget is funded and a commitment was made that the municipality will have to maintain and improve on its efforts to enforce strict cash flow management and continuous monitoring.

In addition to this, the total expenditure of the institution increased with 5.7% from R8,82 billion in the original 2015/2016 budget to R9,32 billion.

Deputy Executive Mayor Bicks Ndoni said: “The figures indicate that we are turning a corner and must commend our senior management for their role to make this possible. We need to maintain our revenue collection rate of 92% and must improve on it”.

In a presentation to council Nelson Mandela Bay Municipality Chief Financial Officer, Mr Trevor Harper, gave an undertaking that the current collection rate will be improved on, citing a target of 96% as a result of certain interventions that are being implemented in this regard.

The Adjustments Budget will now be tabled for consideration at a full sitting of Council on Monday, 22 February and the lifting of a moratorium on the filling of critical vacancies (as imposed by a council decision in June last year) will also be considered.

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NMB Communications

Media Communications at Nelson Mandela Bay Municipality
The Nelson Mandela Bay Metropolitan Municipality Communications Department is responsible for communicating pertinent Municipal news from Port Elizabeth, Uitenhage and Despatch. Municipality Contact Details. See more articles by NMB Communication's.