Treasury funds paid to metro

The Treasury has released the second allocation of Nelson Mandela Bay’s equitable share.

The R330m was paid into the metro’s account on Friday.

In a response sent on Friday, the Treasury confirmed the second tranche of equitable share had been paid.

“The city has submitted all the remaining documentation required by the National Treasury,” it said.

An elated acting municipal manager Peter Neilson confirmed the payment and said chief director Jan Hattingh had announced in a meeting last Thursday that the money would be in the city’s bank account by Friday.

“The National Treasury was here with us for two days and on Thursday Jan Hattingh announced we’re getting it.

“He expressed he was happy with where the metro was and indicated he had already released the fund,” Neilson said.

The Treasury held back the second equitable share allocation which was meant to be transferred towards the end of 2018 after the metro failed to implement a new mandatory accounting system – the Municipal Standard Chart of Accounts – which has to be rolled out across all municipalities.