Rufunsa Town Council in Lusaka Province has approved a K14, 372, 635, 802. 80 budget for the year 2020.
Council Secretary Mwape Katemwe says major sources of Financing for the Budget are expected to come from resources that will be generated from fees and charges, grants in lieu of rates, local taxes, licenses, levies and permits among other sources.
Mr. Katemwe says expenditure towards service provision is estimated at K1, 791, 497.70 representing 40% of locally generated revenue while K2, 152, 382.47 has been reserved for capital projects.
The Budget was approved during a special Council Meeting that was held at the Constituency Office in Rufunsa.
The over K14 bn 2020 budget shows a K1, 403, 074.84 increase from the 2019 budget which was estimated at K12, 969, 560.96.
Mr. Katemwe explains in a statement that “other sources include grants in lieu of rates, local taxes, licenses, levies and permits amounting to a total of K613, 717.4, as well as Constituency Development and Local Government Equalization Funds estimated at K8, 478, 457.44 and K1, 600, 000.00.”
The Lusaka City Council (LCC) adoted the budget K395 million budget for 2020 financial year on the 4th of December 2019.