Media statement
Cllr Jacqui Uys
MMC for Finance
12 September 2024
The National Treasury has published the unaudited financial statements for all municipalities that submitted their statements on time to the Auditor-General. The City of Tshwane is pleased to have complied with the legislated timelines and its financial statements are now available for public viewing.
As the MMC responsible for Finance, I am encouraged that these annual financial statements for the 2023/24 financial year, that ended on 30 June 2024, show overall improvement.
A net surplus of R2,5 billion was realised in the 2023/24 financial year. This is a R1,4 billion increase from the previous financial year. While not a cash surplus, it is still significant proof of a positive improvement in the management of public funds due to savings in contracted services and general expenses and an increase in revenue.
The City has been showing improvement in our ability to bill our customers for rates, taxes and services used and, as such, the City saw a 10,3% increase in our revenue, bringing it to R46,4 billion.
From the onset, the multiparty coalition committed to the value-for-money principle and reducing our reliance on contracted services. I am happy to report that, for the year in question, the City realised a reduction of R500 million in contracted services, proving that we are on track to realise this commitment.
The current ratio, which indicates the capability of the municipality to meet its short-term obligations that are due within a year, showed a significant improvement from 0,41 to 0,57, putting the City on a path to financial stability if this trajectory is maintained in the coming years.
While other areas such as reducing non-revenue water and electricity losses saw only a slight improvement, there is a concerted effort to reduce this in the current financial year.
Our priority to root out corruption in the Supply Chain Management Division has seen the introduction of checks and balances, resulting in an increase in declared irregular expenditure. This has allowed for forensic investigations to be completed and culprits to be prosecuted.
This pre-emptive measure to prevent and act on corruption has led to an increase of R2,4 billion in declared irregular expenditure which needs to follow our Municipal Public Accounts Committee (MPAC) processes and be dealt with by Council during this current financial year.
The unaudited annual financial statements are available from the National Treasury website at
The City of Tshwane commits itself to fully cooperate with the Auditor-General during the ongoing audit process and values the inputs of the Auditor-General in rebuilding our tax administration to ensure that we become a financially stable City that delivers value-for-money services to our residents.
Enquiries:
MMC Jacqui Uys