GH¢18.8 million in development money, vanished
Paragraph 139 of the Ministry of Finance's Budget Preparation Guidelines and Section 30 of the Public Financial Management Act, 2016 (Act 921) leave no room for interpretation: Metropolitan, Municipal and District Assemblies (MMDAs) must commit at least 20 per cent of their Internally Generated Funds (IGF) to capital projects.85 was actually spent on capital projects across nine of the ten findings (Volta excluded, as the amount was undisclosed), leaving a shortfall of GH¢18,840,656.
Until the 20 per cent rule is enforced as firmly as it is written, the gap between revenue collected and development delivered will remain the defining feature of local government finance in Ghana.
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