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MBABANE COUNCIL REVENUES UP 9% TO E114.7M

19/09/2019 08:13:00 Kwanele Dhladhla

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MBABANE – Efficient collection of rates has seen the Municipal Council of Mbabane record an impressive nine per cent growth in revenues to sit at E114.7 million.

Annual financial results for the period ended March 31, 2019 which were issued by the municipality yesterday reflect that the increase was from 105.3 million which was recorded during the period which ended in March 2018. In the commentary, it was explained that the increase was mainly as a result of an annual general increase in rates.

Movement

Other operating income that was raked in by the municipality amounted to E15.5 million which showed an increase from E14.9 million that had been recorded the previous year. “The movement in other income resulted from an increase refuse collection fees-general waste and bio waste collection fees,” the council explained. Under roads, property, plant and equipment, it was stated that there had been an increase to E576 million from E566 million in 2018. It was explained that the increase was due to additions amounting to E25.8 million (E16.9 million for rehabilitating Dobson, Ncoboza, Pine Valley, roads and Dr Sishayi storm water drains; E2.8 million for development of Mahwalala Cemetery; E2 million for the construction of Sidwashini Health Services Centre and the balance went to rehabilitation of the land fill cell, high mast installation and motor vehicles acquisition.

Trade and other receivables amounted to E34.4 million from E35.4 million in 2018. “The decrease is mainly as a result of government paying part of her outstanding rates,” it was explained. Under borrowings, it was disclosed that they amounted to E18 million which was a reduction from the E24 million recorded in 2018. “The decrease was as a result of repayment of existing loans without taking on additional ones,” the municipality clarified.

Opinion

Trust funds were equivalent to E20 million from E18 million the previous year due to an increase in receipt of funds in respect of UDP plot sales. The council also enlisted successes which included obtaining a clean audit opinion from its external auditors (PriceWaterhouseCoopers).