Municipal Finance Management Act, 2003 (Act No. 56 of 2003)

Chapter 4 : Municipal Budgets

16. Annual budgets

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1)The council of a municipality must for each financial year approve an annual budget for the municipality before the start of that financial year.

 

2)In order for a municipality to comply with subsection (1), the mayor of the municipality must table the annual budget at a council meeting at least 90 days before the start of the budget year.

 

3)Subsection (1) does not preclude the appropriation of money for capital expenditure for a period not exceeding three financial years, provided a separate appropriation is made for each of those financial years.