Novus3 is proud to announce that CP3 is mSCOA 6.6.1 compliant and has simplified and integrated complex mSCOA budgeting requirements into the CP3 capturing module. This means that all our clients are mSCOA 6.6.1 compliant in terms of their capital expenditure budgeting process.
What is mSCOA?
MSCOA (Municipal Standard Chart of Accounts) is part of the National Treasury’s ongoing budget and reporting reforms aimed at improving financial reporting, and is a mandatory requirement of National Treasury.
Essentially, mSCOA enables a municipality to capture standardised project level detail pertaining to the location of a project, the funding source of a project, the asset type, and the nature of the project.
With this information CP3 is able to amongst other things, prioritise projects in terms of the above-mentioned details. To find out more about the CP3 mSCOA update, feel free to reach us at email@example.com