The Mayor, Councillor, Mxolisi Kaunda will table the Budget Speech for adoption for the 2020/2021 financial on Friday, 29 May 2020. Kaunda will reflect on the City’s achievements of the past financial year, the maintenance of fiscal discipline as local government and the outlook of the Medium-Term Revenue Expenditure Framework for the next three years.
The City’s consolidated R 52.3 billion proposed budget for the 2020/2021 financial year consists the capital budget of approximately R 6.9 billion and an operating budget of R 45.4 billion in 2020/21. In compiling the draft budget, the City had to adopt several interventions to cushion the most vulnerable citizens whilst still trying to balance fiscal discipline.
The budget adoption takes place at a time when our country is facing tough economic times compounded by the unprecedented pandemic of the Coronavirus (COVID-19).
The Budget Adoption Speech will be held as follows: