Cape Town spends record budget amount

de lille e1370503763494 Cape Town spends record budget amount

The City of Cape Town has spent R5.78 billion of its capital budget for the 2012/2013 financial year, mayor Patricia de Lille has said.

“This demonstrates once again why Cape Town stands head and shoulders above other municipalities with regards to service provision and financial management,” she said today.

De Lille said this amounted to 92.9% of the city’s R6.22 billion capital budget.

“Capital expenditure makes a real and fundamental difference to people’s lives with the delivery of houses, roads, clinics, and basic infrastructure to ensure that the lights are on and the water is running for our residents.

“This capital spend is R1.54 billion more than the previous year’s expenditure.”

De Lille said R2.5 billion was spent on roads and transport, R2 billion on utilities, and R570 million on human settlements.

“The capital spend strongly supported both investment in infrastructure for economic growth and for services assisting the poor and the vulnerable.”

She said as a result of the city’s performance on capital expenditure, the number of jobs in the expanded public works programme had increased significantly.

“This has resulted in the creation of 37 000 work opportunities for those most in need of work, more than any other city in South Africa,” De Lille said.

“The capital spend, coupled with our financial responsibility, as demonstrated by our eighth unqualified audit the previous year and the highest credit rating available to local government, shows that this government has the ability to spend to improve the lives of all residents of this city.”

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