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LOCAL GOVERNMENT: MUNICIPAL FINANCE MANAGEMENT …

REPUBLIC OF SOUTH AFRICALOCAL GOVERNMENT: MUNICIPAL FINANCEMANAGEMENT ACTREPUBLIEK VAN SUID-AFRIKAWET OP PLAASLIKEREGERING: MUNISIPALEFINANSI LE BESTUURNo 56 , 2003 ACTTo secure sound and sustainable MANAGEMENT of the financial affairs of municipali-ties and other institutions in the LOCAL sphere of government ; to establish treasurynorms and standards for the LOCAL sphere of government ; and to provide formatters connected IT ENACTED by the Parliament of the Republic of South Africa, asfollows: ARRANGEMENT OF SECTIONSCHAPTER 1 INTERPRETATION, OBJECT, APPLICATION AND AMENDMENT OF of to which Act to ActCHAPTER 2 SUPERVISION OVER LOCAL government FINANCE functions of National Treasury and provincial by National TreasuryCHAPTER 3 MUNICIPAL REVENUEPart

SUPERVISION OVER LOCAL GOVERNMENT FINANCE MANAGEMENT 5. General functions of National Treasury and provincial treasuries 6. Delegations by National Treasury CHAPTER 3 MUNICIPAL REVENUE Part 1: Municipal bank accounts 7. Opening of bank accounts 8. Primary bank accounts 9. Bank account details to be submitted to provincial treasuries and Auditor ...

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Transcription of LOCAL GOVERNMENT: MUNICIPAL FINANCE MANAGEMENT …

1 REPUBLIC OF SOUTH AFRICALOCAL GOVERNMENT: MUNICIPAL FINANCEMANAGEMENT ACTREPUBLIEK VAN SUID-AFRIKAWET OP PLAASLIKEREGERING: MUNISIPALEFINANSI LE BESTUURNo 56 , 2003 ACTTo secure sound and sustainable MANAGEMENT of the financial affairs of municipali-ties and other institutions in the LOCAL sphere of government ; to establish treasurynorms and standards for the LOCAL sphere of government ; and to provide formatters connected IT ENACTED by the Parliament of the Republic of South Africa, asfollows: ARRANGEMENT OF SECTIONSCHAPTER 1 INTERPRETATION, OBJECT, APPLICATION AND AMENDMENT OF of to which Act to ActCHAPTER 2 SUPERVISION OVER LOCAL government FINANCE functions of National Treasury and provincial by National TreasuryCHAPTER 3 MUNICIPAL REVENUEPart 1.

2 MUNICIPAL bank of bank bank account details to be submitted to provincial treasuries and of MUNICIPAL bank from MUNICIPAL bank , charitable, trust or other fundsPart 2: Cash, investment and asset MANAGEMENT and of capital assets2510152025 CHAPTER 4 MUNICIPAL of funds for of annual budgets and supporting of to be preparation of annual on tabled of annual to approve budget before start of budget of failure to approve budget before start of budget with provisions of this adjustments and unavoidable of funds between multi-year.

3 Irregular or fruitless and wasteful having future budgetary implicationsCHAPTER 5CO-OPERATIVE of co-operative government by national and provincial and provincial allocations to of co-operative government by of funds to of equitable share allocations to of other allocations to of prices and payments for bulk increases of bulk resources for provision of MUNICIPAL of tax and tariff capping on between organs of stateCHAPTER applying to both short-term and long-term and provincial guaranteesCHAPTER 7 RESPONSIBILITIES OF processes and related control and early identification offinancial to provincial executive if conditions for provincial intervention of rights and powers over MUNICIPAL which do not have with executive of mayoral powers and dutiesCHAPTER 8 RESPONSIBILITIES OF MUNICIPAL OFFICIALSPart 1.

4 Accounting managers to be accounting responsibilities of accounting officersFinancial MANAGEMENT and liability on staff transferred to organisations and bodies outside shortfalls, overspending and overdraftsReports and reportable budget budget and performance on failure to adopt or implement budget-related and other reporting to be placed on websites of of accounting officerPart 2: Financial MANAGEMENT of managers and other officials of 9 MUNICIPAL BUDGET AND TREASURY of chieffinancial levels of professionalfinancial officialsCHAPTER 10 MUNICIPAL ENTITIESPart 1: implications for municipalities6510152025303540 Part 2: Financial account budget and performance of capital 3: Accounting executive officer to be accounting duties of accounting MANAGEMENT functions of accounting and liability reconciliation of revenue and management100.

5 Budget implementationPart 4: Reports and reportable matters101. Impending under-collection, shortfalls, overspending, overdrafts and non-payment102. Irregular or fruitless and wasteful expenditure103. Reporting of improper interference by councillors104. General reporting obligationsPart 5: Other officials of MUNICIPAL entities105. Duties of other officials106. Delegation of powers and duties by accounting officers107. Competency levels of professionalfinancial officialsPart 6: General108. Borrowing of money109.

6 Financial problems in MUNICIPAL entitiesCHAPTER 11 GOODS AND SERVICESPart 1: Supply chain management110. Application of this Part111. Supply chain MANAGEMENT policy112. Supply chain MANAGEMENT policy to comply with prescribed framework113. Unsolicited bids114. Approval of tenders not recommended115. Implementation of system116. Contracts and contract management117. Councillors barred from serving on MUNICIPAL tender committees118. Interference119. Competency levels of officials involved in MUNICIPAL supply chain manage-mentPart 2: Public-private partnerships120.

7 Conditions and process for public-private partnerships851015202530354045 CHAPTER 12 FINANCIAL REPORTING AND AUDITING121. Preparation and adoption of annual reports122. Preparation offinancial statements123. Disclosures on intergovernmental and other allocations124. Disclosures concerning councillors, directors and officials125. Other compulsory disclosures126. Submission and auditing of annualfinancial statements127. Submission and tabling of annual reports128. Compliance to be monitored129. Oversight reports on annual reports130.

8 Council meetings open to public and certain public officials131. Issues raised by Auditor-General in audit reports132. Submissions to provincial legislatures133. Consequences of non-compliance with certain provisions134. Annual report to ParliamentCHAPTER 13 RESOLUTION OF FINANCIAL PROBLEMSPart 1: Identification of financial problems135. Primary responsibility for resolution offinancial problemsPart 2: provincial interventions136. Types of provincial interventions137. Discretionary provincial interventions138. Criteria for determining seriousfinancial problems139.

9 Mandatory provincial interventions arising fromfinancial crises140. Criteria for determining serious or persistent material breach offinancialcommitments141. Preparation offinancial recovery plans142. Criteria forfinancial recovery plans143. Approval offinancial recovery plans144. Amendment offinancial recovery plans145. Implementation offinancial recovery plans in discretionary provincialinterventions146. Implementation offinancial recovery plans in mandatory provincial interven-tions147. Regular review of provincial interventions148.

10 Termination of provincial interventions149. Access to information, records and documents of municipalities150. National interventionsPart 3: Debt relief and restructuring151. Legal rights152. Application for stay of legal proceedings153. Application for extraordinary relief154. Suspension offinancial obligations155. Termination offinancial obligations and settlement of claims156. Matters to be prescribed1051015202530354045 Part 4: MUNICIPAL Financial Recovery Service157. Establishment158. Functions and powers159.


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