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DATE: REPORT TO: EXECUTIVE MAYOR NUMBER1. ITEM NUMBER 2. SUBJECT FINANCIAL MONITORING REPORT: JUNE 2022 UNDERWENT FINANCIAL MONITERINGSVERSLAG: JUNE 2022 ISIHLOKO ANGELO ENGOKUBEKILISO KWEZEMALI:
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Municipalities and local governments in financial distress or facing challenges in governance may need to seek assistance from a municipal accountability review board.
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The Municipal Accountability Review Board is a governing body established to oversee and ensure the fiscal responsibility and accountability of municipalities, often focusing on financial health and compliance with regulations.
Municipalities that are under financial distress or have been identified by the state as needing additional oversight are required to file with the Municipal Accountability Review Board.
To fill out the Municipal Accountability Review Board, municipalities must complete the designated forms provided by the board, input relevant financial data, and adhere to specific guidelines set forth for reporting.
The purpose of the Municipal Accountability Review Board is to promote transparency, fiscal responsibility, and to assist municipalities in addressing financial challenges effectively.
Municipalities must report financial statements, budget proposals, operational plans, and any other relevant data that reflects their fiscal status and compliance with established guidelines.
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