The Bulawayo City Council recorded a rare budget surplus of $8,7 million from January to November last year but noted that reduced expenditure over the year was mainly due to cash flow constrains.
A financial statement review prepared by financial director Kimpton Ndimande and seen by The Source shows that income for the period amounted to $84, 3 million against expenditure of $75, 8 million.
However, Ndimande said the income was against a budget of $95 million, while the city had budgeted to spend a similar account.
“Accrued income from January to November 2014 surpassed the figure for accrued expenditure resulting in a surplus of $8,677,530. Expenditure has remained subdued because of the cash flow constraints,” he said.
Last year, BCC had tabled a $156 million budget anchored on domestic financing but Ndimande said unpaid rates continue to be a major headache and means it may not meet the target.
Domestic debtors top the list at $49, 9 million followed by industrial and commercial debtors at$39 million while government departments owe the council more than $3 million.