Oudtshoorn, 27 July 2016 – A Financial Recovery plan aimed at securing the Oudtshoorn Municipality’s ability to meet its obligation to provide basic services for its financial commitments has been released for inspection and comments of the local residents and stakeholders.
“The Financial Recovery Plan is prepared as a result of a mandatory provincial intervention referred to in Section 139 of the Constitution read together with Section 142 of the Municipal Finance Management Act, Act 56 of 2003 (MFMA),” said Mr. Kam Chetty, the town’s administrator.
“The recovery plan is part of the National and Provincial spheres of Governments’ intervention strategy to place Oudtshoorn on a sustainable footing which will result in an effective and efficient organization that is financially stable and provide services to the community on a sustainable basis.”
Three key priority areas that have been identified for the municipality require the implementation of strategic programmes which must be pursued in the short, medium and long term. The three areas are:
The financial recovery plan furthermore requires the Municipality to adhere to the following ten key deliverables to ensure stability and remedy the poor financial practices within the Municipality:
Additionally, the plan which is available on the Municipal website on the following link: http://www.oudtshoorn.gov.za/resource-category/notices, states that the acting Chief Financial Officer (CFO) will be responsible for the implementation of the financial recovery plan reporting to the Municipal Manager, Administrator, MEC for Finance (Provincial Treasury) and National Treasury on the progress made with each identified project. The CFO will be assisted by an appointed Project Manager who will be responsible for the monitoring of the day to day activities of the programmes.
Comments will be considered for approval by the Provincial MEC for Finance. Residents have up to Friday, 29 July 2016 to comment on the released Financial Recovery Plan.Last published 28 July 2016