I REFER to "Revenue collection drops to 85.5%" (October 10). Why is it that Roland Williams always supplies the facts selectively?
I am not spinning you a tale – the last paragraph in the article is misleading, to say the least. It reads, "Williams denied the working capital was at 15 days, saying that the last budget and treasury report showed a figure of 41 days".
The report he is referring to was the budget and treasury agenda scheduled for August 6. This meeting was cancelled and rescheduled for August 22 and again cancelled. The meeting finally took place on August 27.
The information supplied to Williams was as at June 30 and we are now on October 14. That makes the information at least 100 days old!
Yes, as at June 30 our cost coverage ratio was 1.37 months (or 41.1 days). However I stand by my statement that the current cost coverage in October is at 15 days.
Our financial situation has deteriorated in the last 100 days and our financial position is shaky at best. Much work still has to be done to meet Finance Minister Pravin Gordhan's targets by the end of November.
Angelo Dashwood, DA PR councillor and spokesman on budget and treasury, NMMM