MAYOR MACPHERSON HIGHLIGHTS OUDTSHOORN FINANCIAL MANAGEMENT IMPROVEMENT OVER THE PAST FIVE YEARS
Oudtshoorn, 14 June 2021 – The recently released Oudtshoorn Municipal overview shows that the Municipality, which was in a brink of bankruptcy, made great strides in its financial recovery over the past Five years.
“This great improvement places the Oudtshoorn Municipality in a position to start focusing on utilising economic resources towards service delivery, infrastructure refurbishment and maintenance, instead of using available resources to pay off overdue debt,” said the executive mayor, Chris Macpherson.
Mayor Macpherson made this announcement when he was tabling the town’s budget for 2021/2022 to 2023/2034 financial years on 7 June 2021.
The following highlights show how the Municipality improved its financial management from the past Five years when the current Council took over the reins from when the Council was placed under Administration in 2016:
- The cash position has improved over the last 5 financial years, from a cash flow deficit of approximately R110 Million in August 2015 to a positive cash flow of R177 Million as at June 2020.