BUDGET: Treasury plans major overhaul of municipal finance law [SOUND]

# National Treasury is planning the first comprehensive overhaul in 23 years of the law governing municipal finances. Finance Minister Enoch Godongwana says the changes will require municipalities to adopt properly funded budgets, improve revenue collection and strengthen accountability. The amendments will also give Treasury stronger powers to investigate financial misconduct, recover losses and intervene earlier when municipalities face financial distress. Godongwana says the reforms are intended to improve financial management while protecting basic services for poorer households: