Chadiza Town Council has announced the approval of a robust budget of K58, 754,121.00 for the fiscal year 2024, marking a strategic move to align with national economic policies and foster community development in the district. The decision was reached during a Special Ordinary Council Meeting at Sankhani Lodge on Friday, 22nd December 2023.

This momentous decision underscores the Council’s commitment to align with directives from the Ministry of Local Government, tailoring the budget to support the overarching national economic policy. The policy aims to revitalize economic growth, stabilize macroeconomics, ensure fiscal sustainability, foster private sector partnerships, and improve the quality of life for vulnerable populations.

Chadiza Town Council remains steadfast in its dedication to the four strategic development areas outlined in the Eighth National Development Plan: Economic Transformation and Job Creation, Human and Social Development, Environmental Sustainability, and a Good Governance Environment.

The approved budget represents a substantial increase from the previous year, standing at K58, 754,121.00. In comparison, the total approved budget for the fiscal year 2023 was K42, 921,461.00, presenting a remarkable 36.92% increase. The allocation breakdown showcases meticulous distribution across various sectors, with strategic investments in economic and business development.

Underpinning the budget is a strategic push for economic and business development. Key investments include funds for the second-phase rehabilitation of the Council Lodge (K1 million), the first-phase upgrading of the Council Filling Station (K2.5 million), and the procurement of a stone crasher (K300, 000.00). These initiatives are poised to catalyze local revenue growth and create a thriving economic ecosystem.

In a bid to empower communities, the Council is set to implement 15 community projects funded by the Constituency Development Fund (CDF). These projects range from essential earth-moving equipment procurement, such as a Water Bowser and a Tipper Truck as well as the establishment of a community radio station.

Additionally, in adherence to a presidential directive, the Council has procured a total of 5,120 desks from the 2022 and 2023 CDF, with an additional 3,198 desks earmarked for procurement in 2024.

The allocation percentages for the various sectors are as follows:

Non-Financial Assets: 39.31%

Goods and Services: 23.13%

Personal Emoluments: 16.96%

Transfers and Subsidies: 13.87%

Financial Assets: 5.94%

Liabilities: 0.84%

Notably, of the proposed amount, K53.67 Million representing 91.36% will be funded through national support, while K5.07 Million representing 8.64% will be generated locally.

Councillor Alile Banda, Chairperson for Finance, Social Services, and General Purposes Committee presented the budget, showcasing its alignment with national development goals. The Council unanimously approved the budget, with Council Treasurer Chrispin Sakala expressing unwavering confidence in the financial plan as a driver for Chadiza’s growth and prosperity.

It is noteworthy that the final approval for the budget will come from the Ministry of Local Government and Rural Development.

Chadiza Town Council’s 2024 budget, with its substantial figures, detailed percentages, and significant increase from the previous year, stands as a testament to its commitment to prudent financial management, community empowerment, and the overall economic revitalization of the district.

 

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