Kouga Municipality Financial reporting and auditing

7.4       Requirements regarding financial reporting and auditing:

The annual financial statement of a municipality must disclose information on:

·         Any allocations received by the municipality from -

Ø      an organ of state in the national or provincial sphere of government; or

Ø      a municipal entity or another municipality;

·         Any allocations made by the municipality to -

Ø      a municipal entity or another municipality; or

Ø      any other organ of state;

·         How any allocations were spent, per vote, excluding allocations received by the municipality as its portion of the equitable share or where prescribed otherwise because of the nature of the allocation;

·         Whether the municipality has complied with the conditions of -

Ø      any allocations made to the municipality in terms of section 214(1)(c) of the Constitution; and

Ø      any allocations made to the municipality other than by national organs of state.

The notes to the annual financial statements of a municipality must include particulars of:

·         The salaries, allowances and benefits of political office-bearers and councillors of the municipality, whether financial or in kind, including a statement by the accounting officer whether or not those salaries, allowances and benefits are within the upper limits of the framework envisaged in section 219 of the Constitution;

·         Any arrears owed by individual councillors to the municipality, or a municipal entity under its sole or shared control, for rates or services and which at any time during relevant financial year were outstanding for more than 90 days, including the names of those councillors; and

·         The salaries, allowances and benefits of the municipal manager, the chief financial officer, every senior manager and such categories of other officials as may be prescribed.

 Compiled by Prof Dr DJ Lötz (BIur, LLB, LLM, LLD)

Brooklyn Court, Block A, 1st floor, 361 Veale Street, Brooklyn

Borchardt & Hansen Inc