National Treasury Deputy Director-General Ogalaletseng Gaarekwe addressing the media after the department announced the withholding of equitable share transfers to 69 municipalities in an effort to instill fiscal discipline.
The National Treasury on Wednesday revealed that it withheld only R13.5 billion in equitable share transfers from 69 defaulting municipalities that failed to comply with financial regulations and other financial management prescriptions.
It said the withheld funds could be released to the affected municipalities within a week, or within a month if the defaulting councils were compliant.
“The overall equitable share of municipalities for this new financial year is R110 billion. It is only R13.5bn that has been withheld,” Deputy Director-General Ogalaletseng Gaarekwe said.
Gaarekwe made the comment when she briefed the media after the department announced on Monday that it withheld the transfers to instill fiscal discipline and ensure that public money is properly managed, that unauthorised, irregular, fruitless, and wasteful expenditure (UIFWE) is addressed, and that municipal officials and office-bearers are held accountable where required by law.
