Elizabeth Mashiri – Zvishavane – Zvishavane Town Council has kept a static budget of $6,5 million for the 2015 financial year after assuming that inflation will remain at a low 0,2 percent and that rate payers had no capacity to pay increased rates.
According to a budget report presented by the council finance committee chairperson Fatuma Phiri, the council has kept the budget at the 2014 US$6 540 293 under the assumption that the country will continue to use United States dollars and inflation rate will remain unchanged at 0,2%.
“The 2015 budget was prepared on the assumption that council will continue to use the United States dollars, inflation rate will remain unchanged at 0,2%. We are also happy that Midlands State University will resume operations next year to increase activities which bring money to the local authority and that Shabanie and Sabi Gold mines reopens,” said Phiri.
Council is also expecting that ratepayers will meet their obligations to pay and there will be improvement in liquidity.
Phiri highlighted that an estimated revenue of US$2 932 674 is expected to come from housing accounts while a water account is expected to produce US$2 444 359 and US$1 163 260 is expected to come from liquor account to make the money a total of US$6 540 293 which is the expected 2015 budget.
Phiri also said that due to limited sources of finance council has revised downwards its capital budget from $1,7 million to US$704 726 and US$100 000 will go towards the raw water pump project while refuse compacter and sewerage upgrading projects will receive 80 000 each.
Phiri who also reflected on 2014 budget said that out of the expected budget council only managed to collect about 35%.
Source: – www.masvingomirror.com
Photo credit: – www.masvingomirror.com
