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Improper R64 Million Mkhondo Write-off of Prevented

The Freedom Front Plus (VF Plus) prevented the Mkhondo Local Municipality (eMkhondo (Piet Retief), eMvelo (Amsterdam)) from approving a proposal to write off 2 833 asset entries valued at R64,282 million without proper oversight. The proposal involved writing off assets with a book value of R6,121 million and an additional depreciation amount of R58,161 million […]

The post Freedom Front Plus prevents improper write-off of R64 million in Mkhondo appeared first on Freedom Front Plus.

The Freedom Front Plus (VF Plus) prevented the Mkhondo Local Municipality (eMkhondo (Piet Retief), eMvelo (Amsterdam)) from approving a proposal to write off 2 833 asset entries valued at R64,282 million without proper oversight.

The proposal involved writing off assets with a book value of R6,121 million and an additional depreciation amount of R58,161 million in one fell swoop.

Relevant documentation, however, indicated that diverse categories of assets had been indiscriminately grouped together, including missing assets, damaged items, insured vehicles, duplicate entries and even an asset that is still in use.

In addition, the depreciation amount was not calculated per asset nor based on the annual financial statements.

The Council adopted the Freedom Front Plus’s recommendation to block the write-off.

Missing or stolen assets should first be investigated, insurance claims examined and duplicate entries corrected.

Assets still in use should remain on the register; while the depreciation amount of R58,161 million should be itemised by comprehensively and transparently calculating it per asset.

This is an important step towards financial transparency and responsible asset management in Mkhondo.

Freedom Front Plus Social Issues: The party is conservative on social issues, advocating for traditional family values.

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