Local Government: Municipal Finance Management Act, 2003 (Act No. 56 of 2003)Chapter 12 : Financial Reporting and Auditing123. Disclosures on intergovernmental and other allocations |
| (1) | The annual financial statements of a municipality must disclose information on— |
| (a) | any allocations received by the municipality from— |
| (i) | an organ of state in the national or provincial sphere of government; or |
| (ii) | a municipal entity or another municipality; |
| (b) | any allocations made by the municipality to— |
| (i) | a municipal entity or another municipality; or |
| (ii) | any other organ of state; |
| (c) | how any allocations referred to in paragraph (a) were spent, per vote, excluding allocations received by the municipality as its portion of the equitable share or where prescribed otherwise because of the nature of the allocation; |
| (d) | whether the municipality has complied with the conditions of— |
| (i) | any allocations made to the municipality in terms of section 214(1)(c) of the Constitution; and |
| (ii) | any allocations made to the municipality other than by national organs of state; |
| (e) | the reasons for any non-compliance with conditions referred to in paragraph (d); and |
| (f) | whether funds destined for the municipality in terms of the annual Division of Revenue Act were delayed or withheld, and the reasons advanced to the municipality for such delay or withholding. |
| (2) | The annual financial statements of a municipal entity must disclose information on— |
| (a) | any allocations received by the entity from any municipality or other organ of state; |
| (b) | any allocations made by the entity to a municipality or other organ of state; |
| (c) | any other information as may be prescribed. |