Budget Speech 2017 > South Africa's growth and transformation > Strengthening financial management in municipalities

Government continues to invest in improving the financial capability of municipalities. In the period ahead, National Treasury and provincial treasuries have agreed to focus their efforts on four “game changers”:

•	The new Municipal Standard Chart of Accounts, which will be implemented from 1 July 2017, contributing to greater transparency and consistency of municipal finances.

•	Targeted supply chain management interventions to achieve cost savings and combat fraud.

•	Enhanced revenue management, including appropriate tariff-setting, regular billing and effective collection systems.

•	Improved asset management, including adherence to 8 per cent of the value of assets being spent on their maintenance.

If we make progress in local financial management, we will transform the lives of millions of people.