Local government revenue and expenditure: third quarter local government section 71 report for the period: 1 July 2023 – 31 March 2024
5 June 2024
National Treasury has released the local government revenue and expenditure report for the third quarter of the 2023/24 financial year. This report covers the performance against the adjusted budgets of local government for the third quarter of the municipal financial year ending on 31 March 2024 and includes spending against conditional grant allocations for the same period.
The Section 71 report facilitates transparency in reporting, better in-year management and the oversight of the financial performance of municipalities against their adjusted budgets.
This report is, therefore, a management tool that serves as an early warning mechanism for councils, provincial legislatures, and municipal management to monitor and improve municipal performance timeously. Improving the credibility of the mSCOA data strings is a priority for national and provincial treasuries and the submitted mSCOA data strings are analysed monthly and errors are communicated to municipalities for correction.
Key trends: