Acts Online
GT Shield

Division of Revenue Act, 2024 (Act No. 24 of 2024)

Chapter 3 : Conditional Allocations to Provinces and Municipalities

Part 2 : Duties of accounting officer in respect of Schedule 4 to 7 allocations

14. Duties in respect of annual financial statements and annual reports for 2024/25

 

(1) The 2024/25 financial statements of a national department responsible for transferring an allocation in Schedule 4, 5 or 7 must, in addition to any requirement of any other legislation—
(a) indicate the total amount of that allocation transferred to a province or municipality;
(b) indicate any transfer withheld or stopped in terms of section 17 or 18 in respect of each province or municipality and the reason for the withholding or stopping;
(c) indicate any transfer not made in accordance with the payment schedule or amended payment schedule, unless withheld or stopped in terms of section 17 or 18, and the reason for the non-compliance;
(d) indicate any reallocations by the National Treasury in terms of section 19;
(e) certify that all transfers to a province or municipality were deposited into the primary bank account of a province or municipality; and
(f) indicate the funds, if any, used for the administration of the allocation by the receiving officer.

 

(2) The 2024/25 annual report of a national department responsible for transferring an allocation in Schedule 4, 5 or 7 must, in addition to any requirement of any other legislation, indicate—
(a) the reasons for the withholding or stopping of all transfers to a province or municipality in terms of section 17 or 18;
(b) the systems used to monitor compliance with this Act by provinces or municipalities;
(c) the extent that the allocation achieved its objectives and outputs; and
(d) any non-compliance with this Act and the steps taken to address the non-compliance.

 

(3) The 2024/25 financial statements of a provincial department receiving an allocation in Schedule 4, 5 or 7 must, in addition to any requirement of any other legislation—
(a) indicate the total amount of all allocations received;
(b) indicate the total amount of allocations received that were budgeted to be transferred to municipalities and public entities, including—
(i) the amounts transferred to municipalities and public entities, respectively; and
(ii) the reasons for any discrepancies;
(c) indicate the total amount of actual expenditure on each Schedule 5 or 7 allocation; and
(d) certify that all transfers of allocations in Schedules 4, 5 and 7 to the province were deposited into the primary bank account of the province.

 

(4) The 2024/25 annual report of a provincial department receiving an allocation in Schedule 4, 5 or 7 must, in addition to any requirement of any other legislation—
(a) indicate the extent that the provincial department complied with this Act;
(b) indicate the steps taken to address non-compliance with this Act;
(c) indicate the extent that the allocation achieved its objectives and outputs;
(d) contain any other information that may be specified in the framework for the allocation; and
(e) contain such other information as the National Treasury may determine.

 

(5) The 2024/25 financial statements and annual report of a municipality receiving an allocation in Schedule 4, 5 or 7 must be prepared in accordance with the Municipal Finance Management Act.

 

(6) To facilitate the monitoring of performance and the audit of the allocations for the 2024/25 financial year, the National Treasury may determine the format in which receiving officers must report on conditional allocations to municipalities in terms of sections 11(2)(c) and 12(2)(c).