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Appendix Inclusive ll innovative ll inspiredFinal 2023/2024 MORE Budget Report (Sections 16, 17 and 21 of the MFA) May 2023ANNUAL STATE OF THE TOWN & BUDGET ADDRESS 2023/2024CLLR AUBREY SEGA EXECUTIVE
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MFMA Circular No. 120 is a guideline issued by the National Treasury in South Africa to assist municipalities in financial management and reporting.
Municipalities and municipal entities in South Africa are required to file MFMA Circular No. 120.
To fill out MFMA Circular No. 120, municipalities must follow the prescribed format and include necessary financial data as outlined in the circular.
The purpose of MFMA Circular No. 120 is to provide guidance and ensure compliance with financial management legislation for improved transparency and accountability.
Information required includes current budget assessments, financial performance indicators, and other relevant financial data pertinent to municipal operations.
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