NOTES TO THE MANAGEMENT ACCOUNTS FOR THE MONTH OF MARCH 2017
 

1. REVENUE
Total revenue for the month of March was $327 million against a budget of $328.9 million resulting in a negative variance of $1.8 million representing 0.55%. Major contributors to this variance were tax on income which contributed $121.2 million against a budget of$ 123.2 million and non-tax revenue from property which contributed $0,8 million against a budget of $5,1 million resulting in a negative variance of $4,3 million Airtime levy for March contributed $3.5 million against a budget of $5.2 million.

2. EXPENDITURE
Total expenditure amounted to $365.3 million against a budget of $337.3 million resulting in a negative variance of $28.1 million representing 8.32 %. A total of $23.2 million was spend on goods and services against a budget of $20.7 million resulting in a negative variance of $2.4 million representing -11.47%. The variance was caused by cash flow  constraints faced currently by the Government of Zimbabwe.
Current transfers amounted to $85.6 million against a budget of $77.9 million resulting in a negative variance of $7.7 million representing -9.97%.
Interest on debt was under paid by $9,6 million, this was mainly due to liquidity challenges.

3. CAPITAL EXPENDITURE
Capital transfers amounted to $46.6 million against a budget of $16.6 million resulting in a budget-run of $30.0 million representing -180.6%.
Equity participation/net lending had a total of $19.7 million against a budget of $9.1 million resulting in a budget - run of $10.6 million representing 117.2%.

4. DEFICIT FOR THE MONTH
During the month of March 2017, a deficit of $38.3 million was reported against a targeted deficit of $8.4 million.