Treasury defends withholding R13.5 billion from 69 municipalities over financial non-compliance
National Treasury says municipalities must adopt realistic budgets and agree on sustainable repayment plans with creditors before withheld funding can be released, following its decision to temporarily withhold R13.5 billion in July equitable share transfers to 69 municipalities that failed to comply with the Municipal Finance Management Act (MFMA). Speaking during a question-and-answer session on Wednesday, Local Government Budget Analysis Specialist Jan Hattingh said many municipalities continue to approve budgets […]