Obuasi, Dec. 20, GNA - The Obuasi Municipal Assembly (OMA) collected a total of 5.5 billion cedis revenue from its internal sources as at the end of October this year.

The figure represented 78 per cent of the projected revenue of 7.1 billion cedis.

Mr Joseph Kwadwo Boampong, the Municipal Chief Executive, who announced this at the general meeting of the assembly at Obuasi, said the fall in revenue generation was largely due to the late start of the collection of property rate outside AngloGold Ashanti.

He was, however, hopeful that the assembly's overall target would be achieved by the close of the year should AngloGold Ashanti pay its final property rate for the year.

The Municipal Chief Executive said despite the fall in revenue as at October, some revenue items like licenses, rent, fees and lands accounted for more than the estimated target. Mr Boampong said, whilst 422.2 million cedis representing 163 per cent was collected under lands, 752.6 million cedis representing 137 per cent was generated under fees.

He said though 291.3 million cedis was estimated under licences, the assembly collected 315.047 million cedis representing 108 per cent as at October ending.

Touching on the assembly's expenditure, Mr. Boampong said the assembly spent within its budget except for "one item namely travelling and transport".

Within the same period, the assembly had spent 459.5 million cedis as against an estimated expenditure of 417.674 million cedis on the travelling and transport item.

He explained that the dilapidated nature of most of the assembly's vehicles contributed to the rise in expenditure since maintenance and running cost increased.

"There would be the need to slow down on expenditure on this particular item during the last quarter of the year", he said. On the National Youth Employment Programme (NYEP), Mr Boampong announced that three out of the 10 modules the programme envisaged for implementation had taken off in the municipality.

He named the three as crop farming, sanitation and nursing aid and training of 60 ward assistants. 20 Dec. 06