mSCOA is the acronym which stands for the Municipal Standard Chart of Accounts which was introduced by National Treasury in 2014, which became mandatory for all local municipalities from 1 July 2017. The primary objective of mSCOA is to achieve an acceptable level of uniformity and quality from the collection of data from the Integrated Development Plan (IDP) process to Annual Reporting.
The key objectives of mSCOA are:
The mSCOA chart consists of seven (7) reporting segments and all local municipal budget items and financial transactional elements must reflect these segments:
The Novus3 CP3 comprehensive program prioritisation and implementation platform is compliant with the most recent version (6.2) of the mSCOA chart and facilitates local municipal capital investment planning, budgeting and data-string reporting in accordance with the mSCOA global unique identifier codes prescribed by National Treasury.
Please visit www.novus3.co.za for more information.