The first edition of Municipal finance and accounting was published in 2007 and was the first comprehensive text on the principles and best practice of municipal finance and accounting to be available since Dr Jack Cowden’s treatment of more or less the same subject matter. The original edition of this book was subsequently revised in 2011 and again in 2015. The many changes in the municipal finance environment since 2015 have necessitated a fourth revision. All new amendments to existing legislation and supporting regulations have been included. Of particular importance are amendments to the Municipal Structures Act, the Municipal Systems Act and the Public Audit Act. Important impending legislation, such as the draft Public Procurement Bill, the Intergovernmental Monitoring, Support and Intervention Bill, as well as the Municipal Systems Amendment Bill, is also covered. Relevant Municipal Finance Management Act (MFMA) circulars are also covered, as well as significant guidelines issued by the National Treasury. Various other matters of importance in relation to financial administration and governance, such as the King IV Report on Corporate Governance, long-term financial planning and strategies, and Standards of GRAP which were developed, approved and issued by the Accounting Standards Board and for which the Minister of Finance has determined the effective date, are also dealt with. Less relevant illustrations and comments have been removed where applicable.
As with the original edition, this revised version deals holistically with all the key features of municipal finance and accounting, with emphasis on the principles of sound financial governance in municipalities. It is designed for use in tertiary education as well as for regular consultation by accounting officers, financial and non-financial officials and councillors in the performance of their duties. This book should be a useful reference for anyone involved with, or interested in, the financial administration and governance of municipalities.
Chapter 1: Legislative framework for local government
Chapter 2: Standard operational cycle in financial administration of municipalities
Chapter 3: Financial management
Chapter 4: Roles of other organs of state and entities in the financial administration of municipalities
Chapter 5: Annual financial statements and related matters
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