The Kumasi Metropolitan Assembly (KMA) had collected a total GH¢21,204,978.54 in internally-generated revenue as of the end of September.
John Alexander Ackon, the Ashanti Regional Minister, who is also the acting Metropolitan Chief Executive (MCE), said the figure represented 72 per cent of the GH¢29,596,267.00, it had targeted for the year, according to a GNA report.
He said the assembly had expected a stronger performance by companies it had contracted to collect revenue on its behalf.
Addressing members of the assembly at an ordinary meeting in Kumasi, he announced the decision to abrogate the contract with those companies.
Mr. Ackon touched on the District Assemblies Common Fund (DACF) and said the KMA’s total receipts stood at GH¢5,507,615.08.
Added to this was an amount of GH¢2,036,525.00 from the District Development Fund (DDF) and GH¢20,592,419.78 from the Urban Development Grant (UDG).
He said these funds had been used to support the socio-economic development of the city, pointing out that, all projects under the UDG I, II and III, had been completed, expect the Amankwatia school library project, which was about 60 per cent ready.
He told the meeting that the UDG Secretariat at the Ministry of Local Government and Rural Development (MLGRD) had given approval for the construction of a 400-metre open drainage system to check flooding at Akwatialine and Aboabo.
Mr. Ackon said the implementation of the annual action plans derived from the Medium-Term Development Plan for 2014-2017 under the Ghana Shared Growth and Development Agenda II was in progress.
It, among others, seeks to ensure infrastructural and human settlement development, productivity and employment, natural resource management, as well as transparent, responsive and accountable governance.