Municipality’s revenue contracts by E2.1 million compared to the previous financial year.
The Ezulwini Municipality has recorded E10 909 381 million in surplus for the year ended 31 March 2022.
The annual financial statements however reflect a drop in surplus of around E2 112 810 million compared to the previous year (2021) where the municipality had recorded a surplus of E13 022 million. Also worth noting is that revenue for the financial year under review also went down compared to the previous financial year. In the 2022 financial year, revenue stood at E27 655 775 million, while in 2021 revenue was at E30 812 522 million.
In terms of the municipality’s statement of financial position, the report notes that its total assets are at E133 118 849 million for the financial year under review. Total equity is at E129.4 million, while total liabilities are E3.7 million.
The municipality’s annual statements were audited by PricewaterhouseCoopers. “These abridged financial statements should be read in conjunction with the complete set of financial statements for the year ended 31 March 2022, which has been audited by PricewaterhouseCoopers’ notes the report.
The Acting Chief Executive Officer (CEO) Phutfuma Shongwe further notes in the report that the municipality will hold its Annual General Meeting on Tuesday, September 27, 2022, at the Happy Valley Hotel.