Insights and the municipal finance calendar
What the auditors are asking, what changed in the standards, and every MFMA and PFMA deadline for the next twelve months in one place.
Notes for municipal finance teams
We write these between engagements, when the same question keeps coming up at different municipalities. They cover what the Auditor-General is actually asking, what has changed in GRAP and mSCOA, and how to get through each deadline with a clean file. Each note is dated and timed to the point in the MFMA year when it is useful.
Latest insights
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2026/27 municipal reporting cycle
Physical asset verification made simple: how AssetVerify360 turns the annual count into audit evidence
A count on paper proves only that someone ticked a list, and verification software that is difficult to use can leave duplicate scans and data that is close to impossible to clean. AssetVerify360 was built to deal with both.
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Standards in practice: mSCOA and GRAP
When mSCOA and GRAP disagree, which one do you follow?
mSCOA is the ledger your financial statements come from, but it is not an accounting standard. How the chart and GRAP fit together, where coding problems show up in the AFS, and what to do when the two seem to disagree.
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2026/27 municipal reporting cycle
Municipal AFS 2026/27: why credible interim statements matter more than a July clean-up
Interim financial statements only improve audit readiness when the errors they reveal are corrected. How to run the 2026/27 cycle so that July and August are spent reviewing the AFS, not reconstructing the records.
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Standards in practice: GRAP 17 and GRAP 19
Landfill assets and rehabilitation provisions: what to do when the estimate changes
IGRAP 2 sends changes in the rehabilitation provision through the landfill asset, caps the deduction at the carrying amount and takes the excess to surplus or deficit. A critical look at the rule, the judgement it leaves open, and whether the excess is income or expense.
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Standards in practice: GRAP 104
The GRAP 104 transition: what the first year requires, and how to handle consumer debtors
The revised GRAP 104 applies for the first time to the 2025/26 statements. The transition has its own rules, most of them reliefs. What they mean for consumer debtors, the opening adjustment and the transition note.
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Standards in practice: VAT and GRAP
One VAT balance is not enough: how municipalities should report VAT accruals and the SARS account
Most municipal statements show VAT as a single line. Under the payments basis there are three different things behind that line, and putting them together hides what each one is, what it is worth, and when it will turn into cash.
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Standards in practice: GRAP 104
The VAT in your consumer debtors is part of the receivable, and it has to be impaired with it
Many municipalities still impair the VAT-exclusive balance and carry the VAT as if it were already SARS's money. The ASB Secretariat's Fact Sheet 11 points the other way, and the difference is not small.
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Standards in practice: GRAP 104
Why the GRAP 104 simplified approach gives a truer picture of consumer debtors than the old provision methods
A flat percentage on old debt told council very little. A provision matrix built on the municipality's own collection history says what the debtors book is actually worth, and why.
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September to November: audit season
Audit season 2026: how to handle AGSA requests for information without losing control of the file
The 2025/26 audit runs from September to November. A simple register, one point of contact and a few evidence rules keep the audit from becoming a scramble.
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September to November: audit season
GRAP 104 in the 2025/26 audit: what the auditors will test in your expected credit loss model
The 2025/26 financial statements are the first under the revised GRAP 104. Here is what an auditor looks for in a municipal ECL model, and how to have the answers ready.
Public sector reporting calendar
Municipal finance calendar, next 12 months
MFMA and PFMA deadlines worked out from the Acts and regulations, so they roll forward every year on their own. Section 71 dates count working days and skip South African public holidays. Today is 3 November 2026.
- In 10 days Fri 13 Nov Section 71 monthly budget statement for October MFMA s71(1)
- In 27 days Mon 30 Nov Auditor-General audit report due MFMA s126(3)
- In 41 days Mon 14 Dec Section 71 monthly budget statement for November MFMA s71(1)
- In 73 days Fri 15 Jan Section 71 monthly budget statement for December MFMA s71(1)
October 2026
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Section 52(d) quarterly report to council (Q1) MFMA
Mayor reports to council on the implementation of the budget and the financial state of the municipality, within 30 days of the end of the quarter. MFMA s52(d)
November 2026
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Section 71 monthly budget statement for October MFMA
Accounting officer submits the monthly budget statement to the mayor and provincial treasury, with the mSCOA data strings. Due 10 working days after month end. MFMA s71(1)
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Auditor-General audit report due MFMA
The AGSA submits the audit report within three months of receiving the AFS. Findings raised during September to November feed the annual report. MFMA s126(3)
December 2026
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National Treasury MTREF budget circular (usual timing) MFMA usual timing
National Treasury normally issues the first Municipal Budget Circular for the coming MTREF in early December, with a follow-up in March. Check the circulars list below for the actual release. Indicative, National Treasury practice
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Section 71 monthly budget statement for November MFMA
Accounting officer submits the monthly budget statement to the mayor and provincial treasury, with the mSCOA data strings. Due 10 working days after month end. MFMA s71(1)
January 2027
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Section 71 monthly budget statement for December MFMA
Accounting officer submits the monthly budget statement to the mayor and provincial treasury, with the mSCOA data strings. Due 10 working days after month end. MFMA s71(1)
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Mid-year budget and performance assessment MFMA
Accounting officer assesses performance for the first half of the year and submits the report to the mayor, National Treasury and provincial treasury by 25 January. MFMA s72(1)
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Section 52(d) quarterly report to council (Q2) MFMA
Mayor reports to council on the implementation of the budget and the financial state of the municipality, within 30 days of the end of the quarter. MFMA s52(d)
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Annual report tabled in council MFMA
Mayor tables the annual report for the previous financial year within seven months after year end. MFMA s127(2)
February 2027
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Section 71 monthly budget statement for January MFMA
Accounting officer submits the monthly budget statement to the mayor and provincial treasury, with the mSCOA data strings. Due 10 working days after month end. MFMA s71(1)
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Adjustments budget deadline MFMA
An adjustments budget that follows the mid-year assessment must be tabled by 28 February. Municipal Budget and Reporting Regulations reg 23(1)
March 2027
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National Treasury follow-up budget circular (usual timing) MFMA usual timing
The March circular updates the December guidance with the national budget outcomes and grant allocations. Indicative, National Treasury practice
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Section 71 monthly budget statement for February MFMA
Accounting officer submits the monthly budget statement to the mayor and provincial treasury, with the mSCOA data strings. Due 10 working days after month end. MFMA s71(1)
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Tabled annual budget (latest date) MFMA
Mayor tables the annual budget at least 90 days before the start of the budget year. Tabling by 31 March keeps the full consultation window. MFMA s16(2)
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Oversight report on the annual report MFMA
Council adopts an oversight report within two months of the annual report being tabled, and makes it public within seven days. MFMA s129(1) and (3)
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PFMA financial year end PFMA
Departments, constitutional institutions and public entities close their books at 31 March. PFMA s1
April 2027
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Section 71 monthly budget statement for March MFMA
Accounting officer submits the monthly budget statement to the mayor and provincial treasury, with the mSCOA data strings. Due 10 working days after month end. MFMA s71(1)
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Section 52(d) quarterly report to council (Q3) MFMA
Mayor reports to council on the implementation of the budget and the financial state of the municipality, within 30 days of the end of the quarter. MFMA s52(d)
May 2027
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Section 71 monthly budget statement for April MFMA
Accounting officer submits the monthly budget statement to the mayor and provincial treasury, with the mSCOA data strings. Due 10 working days after month end. MFMA s71(1)
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Annual budget approved by council MFMA
Council considers approval of the budget at least 30 days before the start of the budget year. MFMA s24(1)
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PFMA annual financial statements to the Auditor-General PFMA
Accounting officers and accounting authorities submit AFS within two months after year end. PFMA s40(1)(c) and s55(1)(c)
June 2027
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Section 71 monthly budget statement for May MFMA
Accounting officer submits the monthly budget statement to the mayor and provincial treasury, with the mSCOA data strings. Due 10 working days after month end. MFMA s71(1)
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SDBIP approved by the mayor MFMA
Mayor approves the service delivery and budget implementation plan within 28 days after the budget is approved. MFMA s53(1)(c)(ii)
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Municipal financial year end MFMA
Close the books, freeze the fixed asset register and debtors age analysis at 30 June, and start the year-end file. MFMA s1 (financial year)
July 2027
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Section 71 monthly budget statement for June MFMA
Accounting officer submits the monthly budget statement to the mayor and provincial treasury, with the mSCOA data strings. Due 10 working days after month end. MFMA s71(1)
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Section 52(d) quarterly report to council (Q4) MFMA
Mayor reports to council on the implementation of the budget and the financial state of the municipality, within 30 days of the end of the quarter. MFMA s52(d)
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PFMA audit report due PFMA
The AGSA reports within two months of receiving the AFS. PFMA s40(2)
August 2027
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Section 71 monthly budget statement for July MFMA
Accounting officer submits the monthly budget statement to the mayor and provincial treasury, with the mSCOA data strings. Due 10 working days after month end. MFMA s71(1)
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Annual financial statements to the Auditor-General MFMA
Accounting officer submits the AFS and the annual performance report to the AGSA within two months after year end. MFMA s126(1)(a); Municipal Systems Act s46
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PFMA annual report submitted PFMA
Annual report, AFS and audit report submitted within five months after year end for tabling. PFMA s40(1)(d) and s55(1)(d)
September 2027
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Section 71 monthly budget statement for August MFMA
Accounting officer submits the monthly budget statement to the mayor and provincial treasury, with the mSCOA data strings. Due 10 working days after month end. MFMA s71(1)
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Consolidated AFS to the Auditor-General MFMA
Municipalities with municipal entities submit consolidated AFS within three months after year end. MFMA s126(1)(b)
October 2027
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Section 71 monthly budget statement for September MFMA
Accounting officer submits the monthly budget statement to the mayor and provincial treasury, with the mSCOA data strings. Due 10 working days after month end. MFMA s71(1)
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Section 52(d) quarterly report to council (Q1) MFMA
Mayor reports to council on the implementation of the budget and the financial state of the municipality, within 30 days of the end of the quarter. MFMA s52(d)
Latest National Treasury MFMA circulars
The live list from National Treasury could not be read just now. Open the MFMA circulars page directly.
Sources: Municipal Finance Management Act 56 of 2003; Municipal Budget and Reporting Regulations, 2009; Public Finance Management Act 1 of 1999; Public Holidays Act 36 of 1994. Where a statutory date falls on a weekend the Act's date still applies, so plan to deliver on the working day before. Election days declared as public holidays are not included. This calendar is a planning aid and does not replace the legislation or National Treasury guidance.
Discuss your municipality’s requirements
Ambition Partners Advisory is a Chartered Accountant (SA) led practice working with municipalities, municipal entities, government departments and public entities across South Africa. Tell us where you are in the reporting cycle and we will send you a scope, timeline and fee.