Makhubo's budget must balance revenue and expenditure
The City of Johannesburg MMC for finance Geoffrey Makhubo will present his budget in Sandton today. In January, Makhubo painted a "very healthy" picture in his analysis of the 2013-2014 financial year, boasting an increase in revenue, capital investment and expenditure.But a report tabled before council on April 30 showed that city's revenue-producing entities - Joburg Water, City Power, Pikitup and JMPD - did not reach their targets.Makhubo admitted the city had to come up with better ways of revenue collection. To tackle this challenge, the city proposes tariff increases in most of its services for the new financial year, which starts on July 1.Property rates will go up by 6%, whereas electricity will on average increase by 12.19%. Water consumption will increase by between 11% and 17%.All other tariffs, which include refuse collection, are to go up by 15%. Makhubo is expected to share his plans on youth unemployment announced by mayor Parks Tau...
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