2. IDP Development Plan –Integrated 3. MFMA Municipality Finance Management Act No .56 of 2003 – 4. delivery and budget implementation plan 5. CM-Council Minute’s 6. AC Accounting Officer – 7. MTREF Medium term revenue and expenditure framework – 8. MBP Municipal budget policy – 3. OBJECTIVES 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 4. Virement Clarification Virement is the process of transferring budgeted funds from one line number to another, with the approval of the relevant Manager and CFO, to enable budget managers to amend budgets in the light of experience or to reflect anticipated changes.(section 28(2)(c)MFMA) 5. Financial Responsibilities Strict budgetary control must be maintained throughout the financial year in that potential overspends and or income under-recovery within individual vote departments are identified at the earliest possible opportunity.(Section 100 MFMA)
2. IDP –Integrated Development Plan 3. MFMA – Municipality Finance Management Act No .56 of 2003 4. delivery and budget implementation plan 5. CM-Council Minute’s 6. AC – Accounting Officer 7. MTREF – Medium term revenue and expenditure framework 8. MBP – Municipal budget policy 3. OBJECTIVES 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 4. Virement Clarification Virement is the process of transferring budgeted funds from one line number to another, with the approval of the relevant Manager and CFO, to enable budget managers to amend budgets in the light of experience or to reflect anticipated changes.(section 28(2)(c)MFMA) 5. Financial Responsibilities Strict budgetary control must be maintained throughout the financial year in that potential overspends and or income under-recovery within individual vote departments are identified at the earliest possible opportunity.(Section 100 MFMA)
Virements%20Policy%202018-19.docx