A record-breaking budget was announced for the City of Johannesburg this week by MMC for Finance Geoffrey Makhubo.
The budget, which is the largest ever for the City will see a combined operational and capital budget of R47,1 billion. Last year’s budget was R40 billion.
“The City has a healthy cash balance,” said Makhubo in Braamfontein.
“Despite monthly expenditure of R2,2 billion, the City has a monthly cash balance in excess of R5 billion,” he explained.
The City’s capital expenditure over the next three years would equal R32 billion. It will also invest R100 billion in infrastructure over the next ten years.
The bad news for residents is that the cost of electricity will increase by 7.5 per cent and waste removal with 6 per cent for domestic users and 8 per cent for commercial users.
The waste removal increase will, according to Makhubo, help Pikitup to maintain their levels of service delivery.
