Matjhabeng is on the verge of bankruptcy and the Auditor General\u2019s (AG) qualified report has been described as a disaster.<\/p>\n\n\n\n
Matjhabeng remains non-viable. Unless the National Treasury takes over the Eskom debt, it is predicted that Matjhabeng is heading for a disclaimer in 2024.<\/p>\n\n\n\n
Maxie Badenhorst, member of the municipal portfolio for finance, says Matjhabeng is in deep trouble. <\/p>\n\n\n\n
\u201cThe most worrying part is that the ANC is very happy with it. I do not know what they saw that indicated that Matjhabeng had done better than in the past.\u201d<\/p>\n\n\n\n
Another bone of contention is the approval of the adjustment budget of R1 billion.<\/p>\n\n\n\n
\u201cThis is for unauthorised expenditure. I asked for the substantiating documentation; they could not provide any.\u201d<\/p>\n\n\n\n
The annual report that is used to substantiate the approval of the adjustment budget was not tabled at the January council meeting. <\/p>\n\n\n\n
\u201cThe mayor (Thanduxolo Khalipha) said they had received the AG report too late to finalise the annual report, but that we should just authorise the unauthorised expenditure and then we can let it come back to council with supporting documents at a later stage.\u201d <\/p>\n\n\n\n
Badenhorst is flabbergasted.<\/p>\n\n\n\n
\u201cHow does he expect us to authorise the adjustment budget without any supporting documentation? <\/p>\n\n\n\n
\u201cWe have never had an adjustment budget as high as R1 billion. <\/p>\n\n\n\n
\u201cThe unauthorised expenditure occurred in the mayor\u2019s office.\u201d <\/p>\n\n\n\n
A qualified report means the auditor assessed that the financials are fairly presented but with specific exceptions.<\/p>\n\n\n\n
The AG report indicates a net loss of R1 billion during the financial year to end June 2023. The municipality\u2019s total liabilities exceed its total assets by R4 billion, whilst the total current assets cover only 21% of its liabilities.<\/p>\n\n\n\n
The municipality owed Eskom almost R6 billion (2022: R5 billion) and Bloem Water R5 billion (2022: almost R5 billion). <\/p>\n\n\n\n
During a meeting on Tuesday, 13 February, the controversial adjustment budget was again rejected pending the submission of supporting documentation. <\/p>\n\n\n\n
Tshediso Tlali, Matjhabeng spokesperson, says the municipality has consecutively, over the past five years, received qualified reports. <\/p>\n\n\n\n
\u201cIt is encouraging that in the last two years, material concerns have decreased. There is a significant reduction of non-compliance and a noteworthy decrease in unauthorised, irregular, as well as fruitless expenditure.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
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