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LIM344 MakhadomSCOA Version 6.3Click for Instructions!Contact details: Budget submission enquiries: Elsab Rossouw National Treasury Tel: (012) 3155534 Electronic documents: lgdocuments@treasury.gov.za2020Preparation
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To fill out financial reports for Makhado Local Municipality, follow these steps:
02
Gather all the necessary financial documents such as bank statements, invoices, receipts, and payroll records.
03
Identify the specific financial report that needs to be filled out, whether it is an income statement, balance sheet, cash flow statement, or any other required report.
04
Understand the financial reporting requirements and guidelines set by Makhado Local Municipality or relevant regulatory bodies.
05
Organize the financial information and data according to the prescribed format for the specific report.
06
Input the relevant figures, amounts, and details into the respective sections of the financial report.
07
Double-check all the entered data for accuracy and completeness.
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Perform necessary calculations or adjustments to ensure the report reflects the accurate financial status of Makhado Local Municipality.
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Review the completed financial report for any errors or discrepancies.
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Submit the filled-out financial report to the appropriate authority or department within Makhado Local Municipality, adhering to any specific deadlines or submission requirements.
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Maintain a copy of the financial report for record-keeping purposes.

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Financial reports of Makhado Local Municipality are needed by various stakeholders, including:
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- Municipal officials and administrators who use the reports to make informed decisions regarding budgeting, resource allocation, and financial planning for the municipality.
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- Auditors and accountants who assess the financial health and compliance of the municipality.
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Financial reports for Makhado Local Municipality are formal records that outline the municipality's financial activities, performance, and position over a specified period, typically including budgets, income statements, balance sheets, and cash flow statements.
All local municipalities, including Makhado Local Municipality, are required to file financial reports. This includes the Mayor, Municipal Manager, and Chief Financial Officer, along with designated officials and departments within the municipality.
To fill out the financial report for Makhado Local Municipality, follow the prescribed guidelines and templates provided by the South African National Treasury, ensuring that all financial data is accurately recorded according to applicable standards and regulations.
The purpose of financial reports for Makhado Local Municipality is to provide transparency and accountability regarding the municipality's financial activities, to aid in decision-making, and to ensure compliance with financial regulations and standards.
Financial reports must include information such as revenues, expenditures, assets, liabilities, equity, budget performance, and notes providing context to the financial data.
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