The city has to find a way to save R1 billion, but they say residents don't have to worry that this would impact service delivery.
Mayor Randall Williams had admitted earlier this year that the city was technically bankrupt, as its liabilities of about R14 billion exceeded its assets by R3 billion. Other immediate interventions include putting on hold all supply chain management activities – meaning no contracts would be awarded or signed for the next three months. An exception, however, is made only for services likely to cause health hazards or result in litigation, Mutlaneng explained.
“The inability to raise the required R1.5 billion in the 2020/21 financial year has created a large liquidity gap which is negatively impacting the liquidity position of the 2021/22 financial year.” He said the budget had to be squeezed and some core projects delayed, as revenue collection dropped to 75% under the period the city was placed under administration.
Schubart park dilapidated buildings?
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