An assessment of financial planning and financial performance in municipalities - the case of the City of Tshwane Metropolitan Municipality (CoT)

M. Tech. Cost and Management AccountingLong-term financial planning in South Africa was at the time of the study not regulated by legislation. In addition, municipalities were accused of failing to plan their finances, which included failure of adherence to the long-term commitments of long-term contracts, neglecting revenue collection, and consequent over-reliance on government grants and borrowing. The aim of this study was to assess whether the adoption of the Long-term Financial Strategy by the City of Tshwane, improved the municipality's financial performance, in order to determine whether a longer term financial strategy should become a legal requirement for all municipalities in South Africa