Between the 2015/2016 and 2016/2017 financial year, IMQS has played a central role in enabling Overstrand Local Municipality in their efforts to become mSCOA compliant. What is mSCOA and what role is IMQS playing to facilitate this national process?
The implementation of mSCOA will result in the consistent application of the municipal ‘accountability cycle’ from planning, budgeting, implementation, monitoring and reporting and ultimately improved service delivery.
Project segment, describes how the municipal spending relates to deliverables. In the case of our electricity upgrade example the Project Segment would be Capital -> Infrastructure -> Exiting -> Upgrade -> Electrical Infrastructure.
Function segment, describes the service delivery entity to which the funds will contribute. In the case of our electricity upgrade example the Function Segment would be Energy Sources -> Core Function -> Electricity.
Item segment, the most complex segment and describes the debit and credit entities affected by the project.
Fund segment, describes where the money is sourced from, for example Government loans, bank borrowing, taxes, etc.
Regional Indicator segment, describes the region which will benefit from the project
Costing segment, describes the impact of the project on secondary costing which can be viewed as the asset’s operating costs.
Municipal Standard Classification segment, notes the municipal department responsible for the project and the assets it produces.