These remarks were made by the Executive Mayor of Tshwane, Councillor Solly Msimanga, at Sammy Marks Council Chambers after the approval of the adjustments to the City’s 2016/17 Medium-Term Revenue and Expenditure Framework.
The City of Tshwane’s adjustments budget for 2016/2017 was unanimously approved during a special Council sitting today, 23 February 2017, by 202 votes paving the way to stabilizing Tshwane’s finances and delivering better and quality services to the residents of the Capital City.
Tshwane Mayor, Cllr Solly Msimanga said of the amended budget: “It must be emphasized that the City ended the 2015/16 financial year with an operating deficit of about R2 billion which meant that the City had a funding compliance gap which must now be addressed within the 2016/17 adjustments budget. The amended budget aims to ensure that we drastically reduce this deficit and correct the unrealistic, unfunded budget approved by the previous administration in June 2016”.
“This milestone is a victory for the people of Tshwane, we can now move forward with our goals of realizing the economic change and becoming a responsive government whilst also creating job opportunities and attracting investment into Tshwane”.
The City of Tshwane is of the view that the stabilization of the Capital’s finances is the critical foundation on which to continue making progress in the delivery of services to our communities and that this conquest marks the start of a better future for all Tshwane residents.