Last published 09 February 2016
11 March 2016
The Oudtshoorn Municipality Council passed the town’s adjustment budget for 2015/2016 at a Special Council meeting with the Administrator early this week.
The Mid-Year financial report which was also tabled before the Administrator and Council shows that the Municipality’s financial position is still very critical, particularly the cash flow. This can be attributed to the fundamentally flawed initially approved budget for the 2015/2016 financial year in respect of the principles applied in the compilation thereof which negated the strive towards financial sustainability to the extent that the municipality currently finds itself in severe financial distress.
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