TMA to raise 66 billion cedis revenue in 2005
Tema, Jan 12, GNA -- The Tema Municipal Assembly (TMA) is expected to raise a revenue of 66,643 billion cedis this year as against 56 billion cedis targeted in 2004.
Of the amount, 36,061 billion cedis is expected to come from government grants such as the Common Fund, HIPC fund and salaries among others, Mr Daniel Ofosu Adjei, Budget Analyst of the TMA told the GNA in an interview at Tema.
He said the remaining 30.58 billion cedis comes from the assembly's own traditional sources of revenue which is based on the fee fixing resolution.
He however, could not tell exactly how much the assembly realised from its target for 2004.
Mr Adjei said personnel emoluments, administrative expenses, service activity expenses and investment activities would account for its estimated expenditure of 66.62 billion cedis for 2005. "This means that about 60 percent of the assembly's spending is to be taken up by investment activity expenses as against 40 percent recurrent expenditure.''
Mr George K. Scott, Tema Municipal Coordinating Director, said the TMA had fixed its fees and rates for 2005 that showed no increase in charges.
For instance refuse fee range between 4,000 cedis and 25,000 cedis and Lorry Park tolls between 2,000 cedis and 20,000 cedis all depending on their categories.
In respect of the industries payment of fees, one million cedis will be paid monthly instead of the compulsory annual payment. Mr Scott said the fees were fixed early as part of efforts to enhance revenue generation in the municipality.
He appealed to ratepayers in the municipality to pay their rates promptly to enable the assembly to generate enough revenue for development projects.
Projects lined up include the completion of the Tema Sports stadium, schools, construction of water lines and sanitation.