PMB back in the black

2010-11-05 00:00

FROM a negative bank balance of R160 million in March to a positive amount of R32 million in November.

These are the significant strides that the provincial intervention team has made in rectifying the strained Msunduzi Municipality’s finances over the past eight months.

Delivering Msunduzi administrator Johann Mettler’s report in his absence, Piet van Dyk said the team has managed to average a balance of just over R25 million in the past two months.

According to the report, September was the last month that the municipality was in the red with a negative bank balance of just under R30 million.

“We’re not where we wanted to be, but it’s a move in the right direction,” said Van Dyk.

The team has also managed an average collection rate of 75, 2% over the past three months, which is a distinct advance on the average collection rate of 55% it was faced with when it first came in.

Van Dyk said Operation Pitbull, which has targeted illegal electricity connections, has been a resounding success and it will continue because it has netted the municipality R32,36 million since it was launched in August.

Msunduzi Mayor Mike Tarr congratulated the team on its hard work.

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.

Inside News24

 
/News

Book flights

Compare, Book, Fly

Traffic Alerts
Traffic
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.