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

Chapter 4 : Municipal Budgets

24. Approval of annual budgets

 

(1) The municipal council must at least 30 days before the start of the budget year consider approval of the annual budget.

 

(2) An annual budget
(a) must be approved before the start of the budget year;
(b) is approved by the adoption by the council of a resolution referred to in section 17(3)(a)(i); and
(c) must be approved together with the adoption of resolutions as may be necessary—
(i) imposing any municipal tax for the budget year;
(ii) setting any municipal tariffs for the budget year;
(iii) approving measurable performance objectives for revenue from each source and for each vote in the budget;
(iv) approving any changes to the municipality's integrated development plan; and
(v) approving any changes to the municipality's budget-related policies.

 

(3) The accounting officer of a municipality must submit the approved annual budget to the National Treasury and the relevant provincial treasury.

 

 


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