Ekurhuleni has more than enough money in the bank

The City of Ekurhuleni is financially sound with enough money to pay its creditors.

Speaking at the annual budget meeting at Eden Park Sports Ground on May 24, executive mayor Clr Mzwandile Masina said the national treasury had found Ekurhuleni to have the best management of cash resources.

Giving closing remarks during the presentation of the budget for 2018/19, Masina said Nelson Mandela Bay and Buffalo City were the only other cities that had sufficient cash to pay creditors.

“Johannesburg and Tshwane will have to collect first before they can pay. We can pay immediately and on the spot,” Masina said.

The national treasury found that all metros had a surplus in their budget. Ekurhuleni, however, had the highest surplus with R5.2-billion in cash among metros.

“All this means the City is able to collect funds properly and manages the spending and payment of finances in a responsible manner,” added Masina.

  AUTHOR
Tembisan

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