3.3.1. Budget and Reporting Manager Budget and Reporting – Accountant Budget & Reporting (Not Filled) – Assistant Accountant Budget and Reporting X2 – Finance Intern 3.3.1.2 Budget Process Policy The purpose of this policy is to set out the budgeting principles and procedures which the municipality will follow in preparing each annual budget, as well as the responsibilities of the mayor, accounting officer and chief financial officer in compiling such a budget. This policy has to be reviewed annually during the budget process in order to ensure that it is updated with the relevant changes in National Treasury Circulars and Municipal Budget and Reporting Regulations. In the process of preparing the budget, the Municipality, its Mayor, political office bearers, Municipal Manager, Chief Financial Officer and other officials shall comply with all relevant legal requirements, including in particular: the provisions of Chapter 4 ( Sections 15 to 33) of the Local Government: Municipal Finance Management Act, 2003 as well as Sections 42, ( “the MFMA”), 43, 52, 53, 54,55, 68, 69, 70, 71, 72, 75, 80, 81 and 83 thereof; and the Municipal Budget and Reporting Regulations in terms of ( “the Regulations”) published Section 168 of the MFMA under General Notice 393 of 2009; and All relevant budget-related circulars and notices issued by the National Treasury. 3.3.1.3. Virement Policy The purpose of this policy is to allow limited flexibility in the use of budgeted funds to enable management to act on occasions such as disasters, unforeseen expenditure or savings, etc. as they arise to accelerate service delivery in a financially responsible manner. Financial Responsibilities Strict budgetary control must be maintained throughout the financial year to ensure that potential overspends and / or income under-recovery within individual vote departments are identified at the earliest possible opportunity. (Section 100 MFMA) The Chief Financial Officer has a statutory duty to ensure that adequate policies and procedures are in place to ensure an effective system of financial control. The budget virement process is one of these controls. (Section 27(4) MFMA)
3.3.1. Budget and Reporting Manager – Budget and Reporting Accountant – Budget & Reporting (Not Filled) Assistant Accountant – Budget and Reporting X2 Finance Intern 3.3.1.2 Budget Process Policy The purpose of this policy is to set out the budgeting principles and procedures which the municipality will follow in preparing each annual budget, as well as the responsibilities of the mayor, accounting officer and chief financial officer in compiling such a budget. This policy has to be reviewed annually during the budget process in order to ensure that it is updated with the relevant changes in National Treasury Circulars and Municipal Budget and Reporting Regulations. In the process of preparing the budget, the Municipality, its Mayor, political office bearers, Municipal Manager, Chief Financial Officer and other officials shall comply with all relevant legal requirements, including in particular: the provisions of Chapter 4 ( Sections 15 to 33) of the Local Government: Municipal Finance Management Act, 2003 ( “the MFMA”), as well as Sections 42, 43, 52, 53, 54,55, 68, 69, 70, 71, 72, 75, 80, 81 and 83 thereof; and the Municipal Budget and Reporting Regulations ( “the Regulations”) published in terms of Section 168 of the MFMA under General Notice 393 of 2009; and All relevant budget-related circulars and notices issued by the National Treasury. 3.3.1.3. Virement Policy The purpose of this policy is to allow limited flexibility in the use of budgeted funds to enable management to act on occasions such as disasters, unforeseen expenditure or savings, etc. as they arise to accelerate service delivery in a financially responsible manner. Financial Responsibilities Strict budgetary control must be maintained throughout the financial year to ensure that potential overspends and / or income under-recovery within individual vote departments are identified at the earliest possible opportunity. (Section 100 MFMA) The Chief Financial Officer has a statutory duty to ensure that adequate policies and procedures are in place to ensure an effective system of financial control. The budget virement process is one of these controls. (Section 27(4) MFMA)
GKM_2017-2022-Draft-IDP_V1.docx