The City of Cape Town has tabled its final budget for the 2013\/14 financial year, focusing on the provision of services to all residents of Cape Town, especially the poor. <\/p>\n
Executive Mayor, Alderman Patricia de Lille, presented the R31.5 billion budget to Council on Wednesday 29 May 2013. <\/p>\n
The budget was later adopted with a majority vote in Council.<\/p>\n
The operating budget is R26.144 billion, or just over 82% of the total R31.5 billion budget, while the capital budget is R5.45 billion, or 17.25% of the total budget. <\/p>\n
The City’s operating revenue has increased from R23.9 billion in 2012\/13 to R25.89 billion in
2013\/2014. <\/p>\n
The Executive Mayor said the vast majority of the budget (R19.6 billion) goes towards the direct provision of services, with nearly 57% (R11.17 billion) of this being spent on previously disadvantaged areas, showing that the City has a focus on the poor. <\/p>\n
This focus forms part of the City’s programme of action to creating the right environment to grow jobs and investment, while providing immediate social relief for those who need it most, she said. <\/p>\n
“While we are creating the conditions for business to thrive, we understand that we can only succeed as a city if we provide for all of our residents, no matter what their income.”<\/p>\n
These goals would mean little if the City did not plan for their delivery, especially financially, she said, pointing out that the City is regarded by the National Treasury as the benchmark for financial excellence, and has also received the highest credit rating in local government in the country from Moody’s credit rating agency. <\/p>\n
“Part of the reason for that is because of the way we handle our finances and do not make public commitments that we have not planned, mapped and made ready to manage and implement. We seek to maintain that reputation, not because of what it means for our egos but because of what it says about the quality of services our citizens receive.<\/p>\n
“This budgetary commitment is the very real expression of our commitment to making sure that the lights are on, the water is running and the refuse is collected \u2013 for all residents. While this Council knows that we have limited resources to deal with the challenges that we face, it is also important to bear in mind that this budget seeks to manage the balance between our priorities,” she said.<\/p>\n
Highlights of the budget include:<\/p>\n","protected":false},"excerpt":{"rendered":"
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