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Nelson Mandela Bay political parties voted on Wednesday to approve the city’s capital and operating budget of R19.1 billion for the new financial year.
According to an NMB statement, the “last time all political parties voted in favour of the institution’s budget was in 2013.”
Mayoral Committee member for Budget and Treasury, Buyelwa Mafaya said the "budget is cash-backed and in compliance with section 18 of the Municipal Finance Management Act.”
He said National Treasury also assessed the Metro’s financial position and “determined that it is sound.”
The city adopted an operating budget of R17.2 billion and a capital budget of R1,9 billion, with cash holdings of R4.8 billion which will drop to R3.5 billion in the 2025/26 financial year.
CFO, Selwyn Thys, said over the next three years the city will work towards a surplus budget, after noting that municipal operating expenditure needed to be reduced.
Nelson Mandela Bay Executive Mayor, Gary van Niekerk, said the budget is based on an 80% revenue collection rate, which in May was 83%.
"As part of my first 100 days strategic plan, we will start the planning phase of implementing the municipal standard chart of accounts (mSCOA), a requisite that is long overdue. National Treasury has been very patient with the municipality regarding this,” he said.
Van Niekerk said R20 million was aside “to get a team with a proven track-record in place to ensure that we comply.”
He also committed to addressing 100 illegal electricity connections, installing 375 LED streetlights, repairing 4 500 water leaks, filling 3 500 potholes, and painting 32 000 kilometers of road.
"In addition, 600 close circuit television cameras will be installed to enable security surveillance and critical vacancies will be filled, amongst others,” he said.
