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Phumelela Local Municipality 2022/23 Mid-Year Budget and Performance AssessmentPHUMELELA MASALA MUNICIPALITY MUNISIPALITEITFINANCE DEPARTMENTMidYear Budget and Performance Report (Section 72) 2022/2023Phumelela
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Section 72 mid-year reports refer to the financial reports required under Section 72 of the applicable regulation, typically aimed at providing a summary of an entity's financial status at the mid-point of the fiscal year.
Organizations, companies, or entities that fall under the jurisdiction of the regulation pertaining to Section 72 and meet certain criteria, such as revenue thresholds or operational scale, are required to file these reports.
To fill out section 72 mid-year reports, one must gather relevant financial data, complete the required forms accurately, ensure compliance with reporting standards, and submit the information to the designated regulatory authority.
The purpose of section 72 mid-year reports is to provide a snapshot of an entity's financial health, ensuring transparency and accountability to stakeholders and regulatory bodies.
Section 72 mid-year reports typically require information such as revenue figures, expense reports, profit margins, asset valuations, and cash flow statements, along with any supplementary notes or disclosures as necessary.
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