2011-06-27: New Mayor to announce Joburg's budget​

JOHANNESBURG'S executive mayor, councilor Mpho Parks Tau will on Wednesday 29 June 2011 present the City's biggest budget yet in his inaugural budget speech.

The annual city budget is the product of an extensive citywide consultation process that culminated in the recent Joburg Stakeholder Summit in April.

The time has come for residents of Joburg to hear what new projects and programmes are planned to improve their quality of life.

The tabling of a budget clearly indicates that there is a spending plan against which the City can be measured in terms of service delivery.

This year's budget will be even bigger than the budget of R28.3billion presented by the former executive mayor last year. The City successfully spends 95% of its capital budget through various projects and initiatives.

As a financial planning tool the budget provides the basis for funding the City's activities for a particular year and shows how these will be paid for. The challenge for Johannesburg is to ensure that not only the quality of existing services is maintained but also that these are expanded to provide new infrastructure.

All this was done within a financial framework that allows the City to provide affordable services for residents and business.

"75% of the City's income is derived from the payment of rates and services and is ploughed back into the City in the form of subsidies, a social package, libraries, clinics, roads, metro policing and other community needs.

The Executive Mayor's budget speech will be broadcast live from 11.00 on seven local community radio stations. These are: Jozi FM 105.8, Eastwave FM 92.2,Thetha fm 100.6, Eldos FM 87.6, Islam MW 1548, Alex FM 89.1 and Radio Today AM 1485.

"The City derives its revenue from the following major sources: electricity, 34%: water and sanitation, 18%: property rates, 18%: operating and capital grants, 16% and sundry revenue 6%"

Issued on behalf of:
Councilor Mpho Parks Tau
Executive Mayor
City of Johannesburg

Issued by:
Virgil James
Communications Specialist
City of Joburg
011 407 7226
082 467 9415