Local Government: Municipal Finance Management Act, 2003 (Act No. 56 of 2003)Chapter 4 : Municipal Budgets16. Annual budgets |
| (1) | The council of a municipality must for each financial year approve an annual budget for the municipality before the start of that financial year. |
| (2) | In order for a municipality to comply with subsection (1), the mayor of the municipality must table the annual budget at a council meeting at least 90 days before the start of the budget year. |
| (3) | Subsection (1) does not preclude the appropriation of money for capital expenditure for a period not exceeding three financial years, provided a separate appropriation is made for each of those financial years. |