A recent document showed that the municipality took out loans to the value of R2.184bn over the past nine years and has only repaid R554 million of that debt.
It also showed that cash reserves were depleted and that the municipality’s revenue growth had slowed down as more people were now off the electricity and water grid.
The municipality received a clean audit opinion from the auditor-general for the 2018/2019 financial year and the Treasury rated Drakenstein among the most financially healthy in the country.
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