BY SAMIE WAIKORI
MINISTER for Finance and Treasury under MARA government, Nelson Lenty unveiled a revised budget estimate of $24,819,672 to be passed by the end of the current full assembly sitting.
The budget which is under operation will be used until the end of the financial year 2022/2023, which will lapse by the end of March, 2023.
Announcing the budget estimate during his budget speech yesterday, Lenty thanked divisions under the provincial administration in ensuring the budget is prepared.
He said the total revenue budget summary is estimated at $24,819,672 and total expenditure budget summary is estimated at $24,819,672.
Adding that the total recurrent revenue for financial year 2022/2023 is estimated at $19,869,372, an increase of $1,643,818 or nine percent increase from the 2022/2023 original estimates.
Lenty said of this total recurrent revenue, we have estimated that our local revenue will contribute around SBD7,800,217, SIG through service grant contributes SBD11,636,456, timber right hearing SBD240,873, reserve account of SBD161,826 and MPGIS second appointed day fund of SBD30,000.
He said from the difference of total recurrent revenue less total recurrent expenditure figure, we anticipated a surplus of SBD5,108,700 to cover for the ward funded projects amount to SBD5,008,700 and PCDF co-funding of SBD100,000 in the capital expenditure.
Lenty added that there is a brought forward of SBD1,708,700 for 2021/2022 and SBD3,300,000 for 2022/2023.
He said the total revised recurrent expenditure for financial year 2022/2023 is estimated at SBD14,760,672.
Lenty furthered that the disbursement of these expenditures covers core expenditure levels of the provincial government include; salary and wages, consultancy costs, operational costs, assembly and executive expenditure, debt servicing and repairs and maintenance.
According to the Minister the total revised capital revenue is SBD4,950,300.
He said the new PCDF allocation is SBD1,249,637, commitment carried forward SBD2,260,905, tourism fund SBD500,00, World Bank Integrated Economic Development and Community Resilience Programme (IEDCR) SBD312,409 and government for climate change resilience SBD627,349.
Lenty said on the revise capital expenditure, the province plans to spend a total of SBD10,050,000 for this fiscal year.
