Concern over low financial reserves, but Msunduzi is settling debt, says CFO

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Msunduzi city hall
Msunduzi city hall
File

Msunduzi Municipality’s financial reserves continue to be a huge source of concern.

“Reserves are currently hovering at between one and two months, but the goal is to improve the numbers so that the municipality has three months of reserves,” chief financial officer Nelisiwe Ngcobo has told members of the Msunduzi council’s finance committee.

She added that while cash flow had improved, it still needed to be monitored closely to ensure that Msunduzi cleared all its outstanding debt and to help build up reserves. “It is looking positive that the municipality will be ending the year on a positive in terms of a surplus in terms of our budget.”

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