City’s financial management highlights efforts to build a caring and opportunity city

As part of our poverty alleviation measures, the City of Cape Town provides rates rebates to residents most in need.

During the 2014/2015 financial year, the City provided rates rebates of more than R75,5 million to 29 369 senior citizens and disabled persons.

The total rates forgone in the form of rebates, exemptions and reductions amounted to over R1,1 billion in the 2014/2015 financial year.

We recognise that in order to be a world-class city, we have to be welcoming to all people and make residents feel at home.

The rates forgone for the past financial year underscores our commitment to building a caring and inclusive city, while also maintaining prudent financial management.

Other rebates, reductions exemptions for the 2014/2015 financial year include:

- R73,3 million for religious institutions (1 893 beneficiaries)

- R53,5 million for public benefit/non-profit and sports organisations (1 344 beneficiaries)

- R714,1million for residential value reductions of up to R185 000 (688 471 beneficiaries)

- R67,9million – agricultural organisations (751 beneficiaries)

- R1,6million – land reform beneficiaries (23)

The rates rebates and exemptions ensure that rates are affordable to our residents most in need and that all residents access opportunities regardless of their socio-economic circumstances.

In another example of our commitment to building an opportunity and inclusive city, during the past financial year (2014/2014) the number of B-BBEE service providers who conducted business with the City amounted to 80,27% of the overall number of service providers used.

We are pleased with these results, knowing that we are able to provide economic opportunities to previously disadvantaged businesses and their employees.

As a well-run city, we will continue strict monitoring and implementation of our Supply Chain Management Policy to ensure fair business practice and strict financial management.

Issued by CTown Executive Mayor Patricia de Lille, 20 October 2015