7.2 Public Finance and Budget Management Within the Intergovernmental Relations sub-programme, National Treasury had set a target to finalise the amendment to the Municipal Fiscal Powers and Functions Act (No. 12 of 2007). However, this process has not commenced. The Annual Report has further set a target to prepare background research work in terms of annual reporting of municipal non-financial information, with specific focus on quality and scope. The research work is still under way and no timeframe has been provided.