TMA misses revenue target

The Tema Metropolitan Assembly (TMA) failed to achieve its revenue target for the first half of 2019, raking in only 20 per cent of  revenue.

Out of an expected revenue of GH¢83.3 million, the Assembly was able to accrue only GH¢16. 7 million representing 20.3 per cent of the target.

Mr Felix Mensah Nii Anang-La, Tema Metropolitan Chief Executive, stated this in a situational report during the Assembly’s second ordinary meeting.

Mr Anang-La said this event affected expenditure on development projects.

He added that the Internally Generated Fund (IGF) performance of his outfit at the end of June, 2019 stood at GH¢10,432,183.96 representing 32 per cent of the projected GH¢32,256,469.76.

He indicated that a critical look at the half-year financial performance demanded a review of strategy for the second half. He however added that, some areas of the revenue generated showed trends of improvement.

Such areas, he noted, included fines. According to him, GH¢50,479.00 was received as fines, an achievement he attributed to the introduction of towing and clamping services in the Metropolis.

He noted that the Assembly depended heavily on its IGF as the actual grant component of the revenue. He therefore pleaded with residents and businesses to honour their bills and rates.

Mr Anang-La  directed the budget and finance team of the Assembly to engage more actively with rate payers to understand their challenges and advise his outfit accordingly, before the preparation of the 2020 fee-fixing resolution.

He commended the efforts of the Finance team for prudently managing the finances of the Assembly for the half year despite the high demand on its finances.

He added that a total of GH¢16,047,553.47 representing 19.26 per cent of the GH¢83,317,012.47 revenue target, was spent on compensation of employees, goods and services and asset capital expenditure.

Source: GNA