Business

KMA Boss earns billions for Government

Measures implemented since the year 2017 by officials of Kumasi Metropolitan Assembly (KMA) under the able leadership of the present Mayor Hon Osei  Assibey  vis-à-vis the curbing of issues related to revenue leakages which characterized the previous administration has yielded significant results.

After instituting effective monitoring system and proper revenue reporting, KMA has achieved an improved revenue collection and an increased financial inflow, earning the assembly the overall best in Ghana in terms of IGF collection for the years 2018 and 2019.

Per the Assembly’s financial performance, Total revenue collected from 2016 to July 2020 was recorded as GHs 261,262,366.19.

In terms of internally generated fund (IGF), an amount of GHs 123,659,936.39 was collected for the same period.

Intergovernmental transfers and compensations from established posts also amounted to GHs 54,766,701.68 whiles Donor support amounted to GHs 82,835,701.12.

Total expenditure recorded GH 265,405,016.00 and it is made up of GH 77,143,463.97 as compensation for employees, GH 84,268,330.97 for good and services and GHs 103,993,221.06 for Assets.

MODUS OPERANDI

The foregoing was successfully arrived at after the current Mayor Hon Osei Assibey who took over from the immediate past Mayor Hon Kojo Bonsu of the NDC restructured the Revenue Unit.

The Chief Accountant presently put in charge spearheaded reforms by forming a revenue management team which includes (4) Chartered Accountants.

The team worked hard to increase revenue inflows by;

Streamlining the activities of the Revenue Unit

Ensuring Accountability for revenue collected

Ensuring revenue performance by outsourced companies

Ensuring a reduction in the incidence and use of fake value books among others.

IMPLICATION OF COVID-19 ON REVENUE GENERATION IN KMA

The upsurge of the Covid-19 in Ghana had a massive impact on the collection of internally generated funds of the Assembly.

From January up to the end of July 2019 financial year, KMA had collected IGF of GHs 13,679,175.32. Revenue for the same period in 2020 was recorded as GH 12,097,024.05.

The difference in the loss of revenue of about GHs 1,582,151.27. The lost amount would have been higher but for the increases in revenue collections cumulatively from January to March of 2020 as compared to the same period in 2019.

The above were disclosed by the Kumasi Mayor in his address during the 3rd ORDINARY MEETING OF 2020 held at the Prempeh Assemby Hall on Wednesday 30th December, 2020.

By Enock Akonnor; Editor-In-Chief

Email: enockakonnor2013@gmail.com

www.leakynews.net

 

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