n IMFO : Official Journal of the Institute of Municipal Finance Officers - The role of provincial treasuries

Volume 6, Issue 4
  • ISSN : 1607-520X



Extracted from text ... 12 IMFO ? Winter 2006 BACKGROUND a. Modernizing Local Governance Finances The Municipal Finance Management Act (MFMA) aims to modernise budget and financial management, and to ensure greater transparency and accountability in the finances of municipalities. It does so in order to maximize service delivery to all residents, customers and users. Together with the Municipal Systems Act (MSA), the MFMA empowers mayors and councillors to lead the municipality by approving policy and setting performance targets. It clarifies and separates their roles from those of officials. The MFMA is the local version of the Public Finance Management Act (PFMA), which ..

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