Tshwane deficit tops R2bn after surplus of R2.5m

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Tshwane deficit tops R2bn after surplus of R2.5m

Genevieve Quintal | 2017-02-07 18:10:36.0

Solly Msimanga. File photo

Image by: Rapport / Lisa Hnatowicz
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Gallo Images

The City of Tshwane closed the financial year with a deficit of more than R2bn on the operating account‚ it said on Tuesday.

This was a turnaround of R2.146bn from the previous budget surplus of R2.5m‚ the city said after tabling the annual report on January 26 for the year to June 2016.

The DA took over the running of the municipality‚ with the help of the EFF‚ after the August municipal election failed to produce a clear winner.

The municipality received an unqualified opinion from the auditor-general‚ but executive mayor Solly Msimanga said this did not mean the picture was “rosy”.

“The ANC’s cheers in council and in the media about the AG’s opinion are quite bizarre coming from a caucus that purports to care for the city and the citizens they were elected to serve for five years — and failed in many respects‚ as evidenced by these abominable but not unsalvageable financial stats‚” he said.

TMG Digital/BusinessLIVE



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