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ECONOMY

Revenue

The major source of revenue to the Assembly for the period under review were; the District Assemblies’ Common Fund (DACF), District Development Facility (DDF), MP’s Common Fund, Internally Generated Fund (IGF), GETFUND, River Authority Resettlement Funds and donor funds from JICA. It is worth noting that, the JICA funds were not directly transferred to the Assembly but to Needy Club of Ghana which was used to finance a CPHS Compound project at Aneta/Jordan-Nu. 

However, in 2013 these sources constituted 47.9% of total revenue with DDF constituting 26% and GOG (that is funds for sector specific transfers for decentralised Departments) 21.9%. Furthermore, IGF which represents revenue mobilised internally by the Assembly constituted 5.8% and 5.9% of 2012 and 2013 total revenue respectively. However, there was an increase of 86% in IGF of 2013 over 2012.

The above notwithstanding there were varied challenges internally and externally that affected the inflow of revenue of the Assembly. These were, delays and untimely release of funds from the DACF Secretariat, unexpected deductions from source, inadequate revenue collectors, inadequate logistics and low revenue sensitisation campaign.

To address these problems, some measures were introduced overtime which include among others:

Capacity building for revenue collectors

Recruitment and training of additional revenue collectors

Dialoguing with the traditional rulers for their active involvement in revenue mobilization

Reviewing payment and incentive packages to Commission collectors

Monitoring and supervision of revenue collection and reporting systems have been strengthened to ensure that leakages are reduced to the minimum.


It can be deduced from the above that, the Assembly spent GHc3,846.34 on non-Established position (i.e Casual workers) in 2012 whilst it spent GHc11,103.89 in 2013 as against an estimated budget of GHc31,240.00. This was 89.0% above the 2012 expenditure. It is worth mentioning that, the Assembly expended 35.3% of its budgeted expenditure of Established position.

Moreover, the Assembly received GHc286,981.11 as capital transfer in 2012 whilst in 2013 it received GHc635,674.71 as against an estimated amount of GHc1,244,286.23 representing 51.0%.

Challenges to Disbursement

A. Untimely release of Central Government inflows (DACF, DDF)
B. Guidelines for utilization of the fund are predetermined
C. At Source deductions

Economic Characteristics

The economic characteristics of the District according to the 2010 Population and Housing Census (PHV) are as follows:

About 64.1 percent of the population aged 15 years and older are economically active while 35.9 percent are economically not active.

Of the economically active population, 94.1 percent are employed while 5.9 percent are unemployed

About 46.8 percent of the working population are engaged as skilled agricultural, forestry and fishery workers followed by service and sales workers (17.5%).

    The private informal sector is the largest employer in the District, employing over 91.9 percent of employed population

    Banking Service


    The District is serviced by Micro-finance institutions that provide credit facilities to the general public. The major financial institution operating in the District now is Ultra Credit in Anfoega.

     

    Indicative Financial Plan

    Financial resources will be mobilized from both internal and external sources for the implementation of the Medium Term Development Plan.

    The key sources identified for mobilizing funds include:

    • Internally Generated Funds (IGF)
    • District Assembly Common Fund (DACF)
    • District Development Facility (DDF)
    • Central Government in-flows e.g. GETFund
    • Non-Governmental Organizations (NGOs)
    • MP’s Common Fund

    Date Created : 11/23/2017 6:06:47 AM