Type to search

Masvingo proposes US$17m budget

Local News

Masvingo proposes US$17m budget

Share

Ellen Mlambo
MIRROR REPORTER

MASVINGO – Masvingo City Council has proposed a US$17 million budget for the 2024 financial year.
The budget fell by 28 % from US$23,6m last year and the local authority’s Finance Director Danister Jori attributed the drop to the low projected water revenue during a presentation he made at the Civic Centre hall yesterday.
He also attributed the drop to a fall of external sources of funds from US$5 m for this year to US$2 m for next year.
The local authority is also proposing a new billing structure with payments done at 40% US$ and 60% local currency at the prevailing interbank rate to preserve value for money lying with debtors.
Jori said US$15m from the total proposed budget will be generated from internal sources while US$2m is expected to come from external funding.
Some highlights of the budget include the valuation of commercial and industrial properties which will increase by 100 percent. This increase is from US$0.002629 to US$ 0.005258 for industrial area and from U$0.002083 to US$ 0.004166 for commercial area.
The City Council will in 2024 introduce fire levy of US$1.50 per domestic property, US$3 for commercial, industrial and institutional properties and US$5 for fuel and LP gas operators.
“The department has gone for too long whilst it has been incapacitated and fire fighters lacking requisite equipment and personal protective clothing,”
Water tariff remains unchanged and pegged at US$1, 30 per cubic metre and for consumption above 18 cubic metres it goes up to US$2, 15
Some major projects to be prioritised in the 2024 budget include re-designing of the water augmentation (phase 2) project at a cost of US$200 000.00, procurement of a new pump-set for the water treatment plant at a cost of US$150 000, alternative power supply for water treatment plant (external funding) at a cost of US$ 5million, infectious disease hospital (phase 1) at US$300 000, servicing of Rujeko D stands (self -financing) at a cost of US$2 million and roads resealing, tar patching, gravel patching and drainage de-silting at a cost of US$831,000,00 among others.
Jori said the local authority is owed RTGS$12,3billion and of that amount, residents owe the council 54 percent, institutions and government 21 percent, commercial 17 percent and industry 8 percent.
The council has a debt of RTGS$3, 8billion and some of the companies owed include ZIMRA which is owed RTGS$1, 8 billion, pension fund is owed RTGS$595, medical aid RTGS$255, 7 million, ZESA is owed RTGS$119, 6 million, other statutory creditors RTGS$210,6 million and suppliers of goods and services RTGS$755,8 million.

Leave a Comment

Your email address will not be published. Required fields are marked *

error

Enjoy our stories? Please spread the word: