By Correspondent
Masvingo City council pocketed over ZWL$70 billion in December alone a feat achieved through robust revenue collection strategy.
Finance Committee minutes show that the total revenue for the period up to 31 December 2023 amounted to ZWL$71,111,265,650.95.
The total revenue collected constituted 84% of the budgeted revenue for the period.
The initial target was pegged at ZWL$84,553,885,193.75.
“The major sources of revenue for the period were rental revenues amounting to 5%, fees licenses and levies 18%, grants 1%, sales and tariffs 43% and rendering of services 31%,” reads the minutes.
On expenditure the local authority said it used ZWL$ 52,343,339,964.29 representing 62% of budgeted expenditure.
New Budget Measures
Salaries gobbled the largest chunk of the money.
“Expenditure continued to be constrained by cash flow challenges with the inflationary pressures in the economy persisting.”
However, the local authority said it is now coming up with measures to continue improving revenue efficiency.
Council has instituted a USD billing for the 2024 budget.
This is meant to preserve value of billing although residents and rate payers will have an option to pay for services in local currency.
Other measures to boost revenue collection include a tight water disconnection program for defaulting rate payers.
