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ECONOMICS

HO M: Assembly misses revenue target

The Ho Municipal Assembly failed to meet its Internally Generated Funds (IGF) target of Two Million, Five Hundred and Seventeen Thousand Five Hundred and Ninety Three Ghana Cedis (GHs 2,517, 593.16) for the year ending, 2017.

Date Created : 11/23/2017 2:48:46 AM : Story Author : Frimpong

The Municipal Chief Executive (MCE) of the area, Mr John Nelson Kwasi Akorli, who disclosed this at the Assembly’s Third Ordinary General Meeting, said the Assembly as at June 2017, had only collected Nine Hundred Ninety Nine Thousand Ghana Cedis and Seven Three pesewas (999, 350, 73) representing only 39.69% of our revenue target for the year.

He noted that, the Assembly’s revenue was expected to grow by 20 percent. He added that the Technical Committee therefore used a growth rate of 22% of the actual revenue generated in 2016, which was set at GHs 1,933,550.79 from the previous GHs 1, 576,353.10 for 2016.

He said the shortfall from the Assembly’s revenue streams, hindered the progress of developmental projects across the municipality, hence the need for the assembly to deliberate and approve a new revenue target for the year.

He expressed optimism that the new revenue target will be met to help accelerate development in the area.

Mr. Akorli called for all hands on deck and entreated Assembly Members to step up their individual and collective role to help achieve this all-important target of the Assembly.