TellZim reporter
Following budget consultations in and around the city, Masvingo City Council on November 25 presented a US$ 23.6 million total budget for the upcoming 2023 financial year.
The budget converted to local currency equated at the bank rate prevailing on November 24 at the rate of US$ 1 to ZW$ 634 amounted to ZW$ 14.9 billion.
Addressing the media soon after the presentation of the budget, Acting Mayor Wellington Mahwende said the budget is pegged in foreign currency but quickly stressed that residents would settle their bills in local currency.
“The total budget is US$ 23.6 million of which US$ 17 million is expected to be generated internally while US$ 6 million is expected to be funded from other sources such as intergovernmental fiscal transfers, Zimbabwe National Road Agency (ZINARA) grants and external loans.
“The budget has been prepared in US$ consistent with the presentation by the Minister of Finance and Economic Development on the expected subsistence of the multi-currency system until 2025. However, charges to residents and clients will be made at the prevailing exchange rate on the date of payment,” said Mahwende.
The capital expenditure in the budget is pegged at US$ 8.5 million while the recurrent budget stands at US$ 15.1 million.
The expenditure allocations by programme are governance and administration US$ 5.5 million, water, sanitation and hygiene US$ 7.2 million, social services US$ 7.4 million, roads US$ 2.3 million and public safety and security services US$ 1.2 million.
Under capital expenditure priorities are education facilities US$ 734 000, health facilities US$ 631 000, water and infrastructure US$ 2.6 million, roads and storm water drainage US$ 632 000, social amenities US$ 2.9 million and operational assets US$ 1 million.
Finance committee chairperson councillor Babylon Beta highlighted some of the major projects earmarked for the upcoming year.
“The major projects presented in the 2023 budget are water augmentation, landfill management and road marking equipment, Rujeko Secondary School, public lighting rehabilitation, maternity ward at Runyararo clinic, Mucheke stadium repairs, road construction and re-sealing.
“Servicing of Rujeko D residential stands, upgrading of Mucheke wholesales is expected to continue as we continue to try to improve the living standards of residents, construction of vendor stalls,” said Beta.
The budget would go for approval by the parent ministry
