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ECONOMICS

TMA owes over 25million cedis

The Tema Metropolitan Assembly (TMA) is indebted to the tune of GH¢25.8 million as of June 16, 2017.

Date Created : 7/12/2017 12:00:00 AM : Story Author : Laudia Sawer

The figure covered statutory deduction, commission, suppliers, Government of Ghana (GOG) and donor-funded contracts, Internally Generated Fund (IGF) projects, Ghana Education Trust Fund (GETFund), utilities, and salaries and allowances.

Mr. Felix Mensah Nii Anang-La, Tema Metropolitan Chief Executive, disclosed this on Wednesday in his sessional address at TMA's Second Session of the First Ordinary General Assembly Meeting.

Mr. Anang-La also stated that the Assembly in 2016 spent over GH¢40 million cedis on expenditures out of an estimated amount of GH¢53.5 million.

He noted that the total actual revenue collected in 2016 amounted to GH¢44.5 million, falling short of the estimated revenue of GH¢52,900,802.22.

The total revenue collected was made up of 24 million, representing 54 percent of projected IGF while GOG grants and other transfers stood at GH¢20.7 million.

The MCE said to ensure full budget control and further ensure that the Assembly adhered to the Ghana Integrity Financial Management Information System (GIFMIS), transactions would through a warrant system before payment were made.

To ensure accountability, the Assembly, he noted, would discuss the â€œbudget with the public by focusing on its achievements in 2016