South Africa: KwaZulu-Natal Treasury Receives Seventh Clean Audit Report

The clean audit report is a culmination of hard work that the department embarked upon despite the subdued global, national and provincial economic climate which has been in place since 2007.

In 2009, the Province was in overdraft by almost R3 billion and paying no less than R200 million in interest, as a result of the provincial overspending of annual budgets. Fiscal austerity measures were introduced in the same year to turn around the financial position. The measures have become "a way of life" and the measures are updated and re-issued to departments each year. The measures were part of turn-around strategy and were fully supported by the KZN Cabinet. These cost-cutting measures are simply seen as elements of good governance and helped to eradicate wastage and unnecessary spending on items that add no or very little value to the Province's service delivery spending. Provincial Treasury is mindful of the fact that every cent spent should be toward the betterment of the lives of our people.

"The secret to providing better services to communities is through efficient budgeting and strategic forecasting. The KwaZulu-Natal provincial government remains steadfast in ensuring that all departments adhere to all financial management regulations in order to guarantee targeted service delivery and economic growth as recommended in the National Development Plan," concluded Magagula.

Source: South African Government

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