News / Local
Revenue shortfall hits Bulawayo City Council
04 Aug 2024 at 15:21hrs | Views
The Bulawayo City Council has reported a troubling 58 percent debt collection efficiency for the second quarter of the year. The municipality billed approximately ZiG145.3 million but only collected ZiG84.6 million, resulting in a significant shortfall that affects service delivery.
In the second quarter, the highest efficiency was 66 percent in May. For the first half of the year, the council received US$599,800 from a parking management system partnership with Tendy Three Investments (TTI), with a notable expenditure of US$330,226 from this revenue. The local authority spent 37 percent of collected revenue on employment costs, exceeding the government-stipulated 30 percent.
Debt collection has seen an increase from ZiG353 million to ZiG402 million, though the pace of increase has slowed due to improved exchange rate stability. In May, 55 percent of receipts came from domestic consumers and 45 percent from non-domestic ones.
The council's report highlights the need for better debt collection strategies and financial management, alongside increased public awareness and cooperation to support the city’s financial stability and service provision.
In the second quarter, the highest efficiency was 66 percent in May. For the first half of the year, the council received US$599,800 from a parking management system partnership with Tendy Three Investments (TTI), with a notable expenditure of US$330,226 from this revenue. The local authority spent 37 percent of collected revenue on employment costs, exceeding the government-stipulated 30 percent.
Debt collection has seen an increase from ZiG353 million to ZiG402 million, though the pace of increase has slowed due to improved exchange rate stability. In May, 55 percent of receipts came from domestic consumers and 45 percent from non-domestic ones.
The council's report highlights the need for better debt collection strategies and financial management, alongside increased public awareness and cooperation to support the city’s financial stability and service provision.
Source - The Sunday News
