The 2001 Medium Term Budget Policy Staternent tabled in Parliament on 30 October 2001 contained the 2002 Budget proposals. Chapter 5 and 6 of that document provided infomation on the proposed division of revenue between the three spheres of government, including all grants to provincial and local governments for their 2002103 to 200405 budgets.
This document expands on the Medium Term Budget Policy Statement, and provides more detailed information, including
the division of grants. between provincial and local governments.
A draft of the Division-of Revenue Bill, together WitKan explanatory memorandum, .is published in this document. These documents have in the past only being published on Budget Day -the earlier publication for the next budget will enable various stakeholders a second opportunity to comment on the various grants.
The main component of the 2002 Division of Revenue Bill is its Schedules, which contain all the allocations. The memorandum provides further information on the various formulae for dividing such grants, and any conditions that may apply. It also outlines the process of consultation to determine this division of revenue, and the response of the national government to proposals presented by the Financial and Fiscal Commission. This is also a legal requirement in terms of the Constitution and related legislation.