Local Government: Municipal Finance Management Act, 2003 (Act No. 56 of 2003)Chapter 4 : Municipal Budgets20. Matters to be prescribed |
| (1) | The Minister, acting with the concurrence of the Cabinet member responsible for local government— |
| (a) | must prescribe the form of the annual budget of municipalities; and |
| (b) | may prescribe— |
| (i) | the form of resolutions and supporting documentation relating to the annual budget; |
| (ii) | the number of years preceding and following the budget year for which revenue and expenditure history or projections must be shown in the supporting documentation; |
| (iii) | inflation projections to be used with regard to the budget; |
| (iv) | uniform norms and standards concerning the setting of municipal tariffs, financial risks and other matters where a municipality uses a municipal entity or other external mechanism for the performance of a municipal service or other function; |
| (v) | uniform norms and standards concerning the budgets of municipal entities; or |
| (vi) | any other uniform norms and standards aimed at promoting transparency and expenditure control. |
| (2) | The Minister may take appropriate steps to ensure that a municipality in the exercise of its fiscal powers in terms of section 229 of the Constitution does not materially and unreasonably prejudice— |
| (a) | national economic policies, particularly those on inflation, administered pricing and equity; |
| (b) | economic activities across municipal boundaries; and |
| (c) | the national mobility of goods, services, capital or labour. |