Bulawayo records rare $8.7m budget surplus

The Bulawayo City Council recorded a rare budget surplus of $8.7 million from January to November last year but noted that reduced expenditure over the year was mainly due to cash flow constrains.

A financial statement review prepared by financial director Kimpton Ndimande shows that income for the period amounted to $84.3 million against expenditure of $75.8 million.

However, Ndimande said the income was against a budget of $95 million, while the city had budgeted to spend a similar account.

“Accrued income from January to November 2014 surpassed the figure for accrued expenditure resulting in a surplus of $8 677 530. Expenditure has remained subdued because of the cash flow constraints,” he said.

Last year, BCC tabled a $156 million budget anchored on domestic financing but Ndimande said unpaid rates continue to be a major headache and means it may not meet the target.

Domestic debtors top the list at $49. 9 million followed by industrial and commercial debtors at$39 million while government departments owe the council more than $3 million.- The Source

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