Eastern Cape Parks and Tourism Agency in dire financial position
01 Feb 2016 | Admin Author
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The financial position of the Eastern Cape Parks and Tourism Agency at the end of the first six months of the current financial year “reveals an organisation in distress.
That's according to the Agency’s Financial Oversight and Performance Report for the first half of 2013/14.
The report has been tabled in the Bhisho Legislature.
The Agency states that many of its line items were “already in or near over-expenditure even though higher than expected own revenue had been earned.
It said management was is in the process of implementing austerity measures in order to curtail the projected over-expenditure.
The agancy added, however, that management was conscious of the need to allow limited imperative expenditure in order to prevent a total shutdown of the institution.
