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$31m Budget for 2015
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Stephen Chadenga - SouthernEye Online
11/11/2014

Gweru unveils $31m budget for 2015

Gweru City Council has unveiled a $31 million budget for the 2015 financial year, an increase from last year’s $24 million, with a proposal to increase the revenue income tariffs by 35% across the board.

Finance director Edgar Mwedzi told stakeholders during a budget consultative meeting last weekthat council was running on an accumulated budget deficit of $9 million, which should be attended to enhance smooth operations at the municipality.

“Our proposal for the 2015 financial year is a budget of $31 842 484 from last year’s $24 463 808 with salaries and allowances accounting for 40% of the total expenditure,” he said.

Mwedzi said general expenses would account for 52%, repairs and maintenance 7% and capital charges 1%.

“We expect a net income of $24 107 693, but after adjusting the revenue income tariffs by an average 35%, council will realise a net income of $32 185 182,” he said.

Mwedzi said as at August 31 2014, council was owed a total of $33 873 519 by ratepayers, which saw council failing to settle its debt.

“In the same vein, council was unable to settle its debts with the suppliers and statutory obligations,” he said.

Finance committee chairperson councillor Albert Chirau said council was in a serious financial position due to the liquidity crunch, which saw companies either going into judicial management or liquidation.


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