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IMPACT OF NON FINANCIAL OPERATION ON FINANCIAL STATEMENT AND FINANCIAL PLANNING

IMPACT OF NON FINANCIAL OPERATION ON FINANCIAL STATEMENT AND FINANCIAL PLANNING. Background. The following are the guiding legislation in ensuring that the municipality plan in an integrated manner in order to avoid duplications and inefficiencies -Municipal Systems Act -MFMA -MBRR

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IMPACT OF NON FINANCIAL OPERATION ON FINANCIAL STATEMENT AND FINANCIAL PLANNING

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  1. IMPACT OF NON FINANCIAL OPERATION ON FINANCIAL STATEMENT AND FINANCIAL PLANNING

  2. Background The following are the guiding legislation in ensuring that the municipality plan in an integrated manner in order to avoid duplications and inefficiencies -Municipal Systems Act -MFMA -MBRR -Municipal Structures Act

  3. ROUTE MAP TOWARDS BETTER FINANCIAL PLANNING • Detail feasibility studies before any projects can be conceived by the SBU’s • Alignment of business plans with the approved budget to ensure proper reporting. • Involving the user department to set their own budget as part of accountability mechanisms • Alignment of activities with m’SCOA requirement to ensure that the users understand the execution and reporting protocol. • Decentralizing of accounting activates with clear rules will ensure that non finance operation informs the reporting activities in line with GRAP.

  4. CONT- ROUTE MAP TOWARDS BETTER FIANCIAL PLANNING • Involving user department in structure such asset management committee, OPCA. • Sticker budget controls at level of transaction initiations. • Ensuring that the user department plan, coordinate and report on their transactions in line with the requirement of MBRR. • Alignment of plans with budget and the reporting framework. • Implementation of robust contract management to avoid possible UIF . • Adherence policies and procedures.

  5. Continue • Implementation of programme and projects in line with powers and functions allocated to the municipality to avoid carrying unfunded mandate which could have impact on UIF. • Compliance with section 78 of the Municipal Finance Management Act.

  6. CONCLUSION • Integrated financial planning is the panacea to the challenges affecting municipalities in S.A

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