KZN underspends budget by R200m

Finance MEC Francois Rodgers tabled the province's mini-budget in the KZN legislature earlier on Tuesday. 

"The first source is from the under-spending from the prior year, as well as the revenue over-collection from that year. As a result, the province has R726.404 million in the provincial bank account, both from the revenue over-collection and from departments that had under-spent their budget in the prior year. 

"Part of this related to the conditional grant under-spending where National Treasury approved roll-overs of R263.7 million, as indicated earlier. After taking this into account, R462.7 million remained available for allocation in this Adjustments Budget."

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Rodgers said National Treasury has made no amendments to the provincial budget, with the exception of the roll-over of unspent conditional grant funding.

He says the department has already engaged national treasury to ensure that the unspent money is not lost to the province.

"Departments must request approval for the roll-over of these funds from National Treasury and must prove that the funds were committed at year-end. In these engagements, the province was able to prove that the full amount of the unspent funds was committed and approval was thus given by National Treasury for these funds to be rolled over."

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