Midvaal Municipality Rated Most Financially Sustainable for Third Year Running
The Democratic Alliance-led Midvaal Municipality in Gauteng has been named the most financially sustainable municipality in South Africa for the third consecutive year, according to Ratings Afrika. The accolade is a testament to the municipality’s dedication to sound financial management and transparency.
This year’s Municipal Sustainability Index by Ratings Afrika, accounting for 104 top-performing municipalities plus the eight metros for the fiscal year ending 2023, shows Midvaal scoring an impressive 74 out of 100. This represents a two-point increase from the previous year, highlighting the municipality’s ongoing improvements in financial governance.
Ratings Afrika commended not only Midvaal but also four other municipalities in the Western Cape – Mossel Bay, Saldanha Bay, Swellendam, and Swartland – for their financial prowess.
However, Midvaal stood out as being the best-run municipality across the nation, recently achieving its 10th consecutive clean audit. The Auditor-General’s findings confirmed the meticulous state of Midvaal’s financial records, with no discrepancies or misstatements detected, underscoring its exceptional financial stewardship.
The Municipal Sustainability Index by Ratings Afrika serves as a gauge for the governance soundness of municipalities, states, and central governments. It attributes financial sustainability to several key factors, including long-term financial strategies, entrenched financial policies, self-funded operating and capital budgets, strict financial control and discipline, and effective revenue collection, which in Midvaal’s case, is close to 96%.
Scoring above 70 in the Index is an achievement for only a select group of municipalities, with Midvaal being the sole representative from Gauteng to reach this milestone. This remarkable feat places Midvaal in a leadership position, setting a high standard for financial management and sustainability among municipalities nationwide.
Commenting on this achievement, Mayor Peter Teixeira said, “Midvaal Municipality welcomes this rating. Our administration remains committed to continuing to implement sound budgetary practices and stringent financial controls.”
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