Background

Key Performance Areas

• Compilation and presentation of Annual Financial Statements.
• Compilation and presentation of Annual Capital and Operating Statements.
  Financial Administration of assets.
• Fund accounting administration services.
• Administration of the Municipality’s Corporate Loans and Investment Portfolios.
• Daily Cash flow management.
• Revenue billing and collection.
• Pension Fund Administration.
• Administration of the Insurance Portfolio and Insurance Fund.

Strategic Objectives

• Budget reforms and Financial Planning
• Implementation of Generally Accepted Municipal Accounting Practices (GAMAP)
• Provide comprehensive cover for the assets and personal accident cover of employees of the Municipality.
• Insure the Municipality against third party claims.
• The replacement of all inherent billing /revenue systems with a single comprehensive system.
• New policies, procedures and processes. 

Programmes to Achieve Objectives

• The establishment of Project teams to address the implementation of GAMAP and Budget Reforms.
• The adoption on an Investment and Borrowing Policy for the Municipality.
• Competitive premium charges to departments to ensure that the General Insurance Fund is fully funded.
• Projects  in progress to introduce a comprenhesive revenue system
  Electricity, water, Rates complete.
• Now focusing on Sundry Accounts, Housing Rentals and Business Levies.

Outsourced Services 

• Arrear debtors collection
• Loss adjusting services
• Insurance cover for risks where costs are recovered.
• Portion of the Investment Portfolio.

Statistical Information

Insurance
Average number of insurance claims processed per annum: 9 000

Pension Fund
No. of employee members (Pension Fund):9 034
No. of Pensioner members: 11 448

Rates - Credit Control
No of ratepayers: 391 586
Average no. of bills despatched each month: 460 000

Investment
Average C.I.F. Rate of Return: 12.5%

Revenue - Business Levies
No. of levy payers: 55 406

Accounts Payable
Average no. of monthly payments: (Cheque): 35 60