Business News of 2014-07-02

KKDA bags over one million IGF

The Kpone-Katamanso District Assembly (KKDA), between January and May this year, mobilized a total of GHC 1,114,231.34 into its Internally Generated Fund (IGF).

Alhaji Antiaye Tetteh, Kpone-Katamanso District Chief Executive, who announced this on Wednesday in an address during the Assembly's Second Session, said the amount represented 47 per cent of the 2014 annual estimate of GHC 2,349,053.00. Alhaji Tetteh indicated that the figure showed that the Assembly was on course to achieve its annual target for the year 2014.

"It is even more reassuring to observe that, this achievement was made at the time when the distribution of bills for the current year was put on hold to allow for re-tooling.

He added that the bills were currently going out and the response has been very inspiring, noting that if the tempo is sustained, the Assembly will meet or exceed its IGF target.

The DCE said an amount of GHC 974,164.64 out of the IGF revenue collected, was used as expenditure.

Some of the projects financed with the IGF included the construction of a 32-unit market shed at Kpone, and 10-seater WC toilet at Kpone-Baealeshie, among others.

Alhaji Tetteh also stated that a total of GHC1, 833,546.32 IGF was collected in 2013, out of which GHC 1,659,354.61 was total expenditure. This, he said, signified a positive balance of payment to the tune of GHC 174,191.71.

On the District Assembly Common Fund, Alhaji Tetteh noted that KKDA has received three installments, for the first, second and third quarters totalling GHC 994,498.10 for last year.

According to him, two per cent of the common fund amounting to GHC19, 913.96 has been set aside for the Education Endowment Fund, while GHC4, 978.50 representing 0.5 per cent, has also been released for HIV/AIDS activities in the district.

The DCE, however, stated that another 0.5 per cent was yet to be released to support malaria activities, adding that the District Director of Health Services has been tasked to submit a request and budget to trigger the release.

Source: GNA
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