TMA fails to meet revenue target of GH¢28.6m …rakes only 45 percent

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The Tema Metropolitan Assembly (TMA) has failed to meet its projected Internally Generated Fund (IGF) revenue target of GH₵28,620,779.82 raking in only 45 per cent of it.

Out of the estimated budget, only GH₵12, 741,448.41 was realised as the end of August 31,2020.

The Metropolitan Chief Executive, Felix Nii Mensah Annang-La revealed this in his situational report at the second Ordinary General Assembly meeting of the first session of the Eighth Assembly on Friday.

The report also showed that total receipts stood at GH₵21,179,413.52, while inter-governmental transfers was at GH₵8,437,965.11 constituting 3.36 percent of the grant estimate of GH₵ 251,008,460.11.

A total of GH₵22, 005, 768.66 representing 7.9 per cent was spent by the Assembly over the projected estimate of GH₵279,629,239.93 during the period under review.

Mr Annang-La attributed the failure in revenue generation to the novel corona virus pandemic which had negatively impacted on the economy, businesses and individuals and consequently affected the implementation of approved plans and programmes for the year.

He observed that though the mid-year financial performance which also missed its target required some strategies to increase revenue, the pandemic had significantly affected the budget estimate.

“Notwithstanding, the Assembly had implemented decisions of this august house aimed at introducing palliative measures to bring relief to our rate payers,” he indicated.

Other areas that were contained in the report were health, security, infrastructure, agriculture and food security, education, and environmental sanitation and waste management. 

The rest were trade and industry, street naming and property addressing and critical development as well as poverty eradication and intervention programmes. 

Mr Annang-La charged all members to collectively and significantly put their shoulders to the wheel to navigate governance and administrative constraints in order to meet the revenue targets for the year 2020.

In a related development, the occasion was used to award three Junior High School students who emerged winners in an online essay competition on, ‘Impact of COVID-19 on the individual, community and the nation.’

Nagerh Oram from Oninku Drive 2 Basic School emerged first and received a certificate, Hp laptop and educational materials, while Nichole Maame Darkoah of Pentecost School and Gabriel Tsatsu Ocloo from Naylor SDA Basic Schools came second and third respectively. They also received certificates, Samsung Galaxy tablets and educational materials.

FROM KEN AFEDZI, TEMA

Source: ghanaiantimes