The ANC's confused unpacking of the City of Cape Town's budget regrettably points, yet again, to their fundamental misunderstanding of the way in which the finances of the City work and is rejected with the contempt it deserves.

Let me state categorically, that my calculations on our Budget were accurate. I only have the legal authority to report on the most recent budget, the one approved by Council. Cllr Sotashe knows this, yet in his rush to score political points he has chosen to ignore this most important fact of all.

The ANC has therefore made the elementary mistake of mixing up their calculations based on two entirely different budgets.

Each year, the City undergoes an adjustment budget process. During this process, some projects will be allocated more funds, and others less depending on possible delays and projections for their completion. This is standard process.

Finally, the ANC either do not understand or have deliberately misrepresented my assertion on the fact that Cape Town has the largest capital budget in South Africa - this was  a reference to the new financial year, not as the ANC claim the previous year. Yet another example of their lack of understanding and distortions.

Before they embarrass themselves again, the ANC would be well advised to check their facts before making spurious allegations.

Statement issued by Alderman Ian Neilson, Executive Deputy Mayor and Mayoral Committee Member for Finance, July 19 2012

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