Distinguish Between Emfuleni Municipality’s Own Revenue Sources and National and Provincial Transfers - Report Writing - Accounting and Finance Assignment Help

ASSIGNMENT TASK:

TASK:

QUESTION 1

1.1 In your own words, explain the fiduciary responsibilities of Emfuleni’s municipal manager.

1.2 Who is responsible for Emfuleni municipality’s annual budget? 

1.3 Explain the general responsibilities of Emfuleni municipality’s mayor. 

1.4 What role does the mayor play in Emfuleni municipality’s budget process? 
1.5 Research and discuss four different budgeting systems and advise the mayor on which system would be most suitable for the municipality.

QUESTION 2 

Distinguish between Emfuleni municipality’s own revenue sources and national and provincial transfers. Conclude your answer with an explanation of how the municipality’s own revenue sources compare to national and provincial transfers and grants.

QUESTION 3 

Emfuleni municipality ended the financial year with a substantial deficit, and the acting municipal manager is not sure whether the municipality is allowed to borrow funds in financial markets. Advise him in this regard.

QUESTION 4 

Every municipality must for each financial year prepare annual financial statements. Outline the requirements for preparing annual financial statements and explain whether Emfuleni’s financial statements were prepared in accordance with such requirements.

QUESTION 5 

Discuss why Emfuleni municipality’s procurement processes were not in accordance with legislation.

QUESTION 6 

6.1 Explain the role of the auditor general in municipalities. (2)
6.2 Comment on the meaning of the auditor general’s audit opinion for Emfuleni municipality.

6.3 Discuss the process that Emfuleni should follow to address the issues raised by the auditor general.

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