The Special Council Support Fund (Feicom) recorded an impressive balance sheet for the year 2023, with revenues reaching 293.4 billion FCFA. This figure marks a significant increase of 57.5 billion FCFA compared to 2022. This financial dynamism, supported by tax reforms and efficient management, bodes well for the financing of projects of decentralized local authorities in Cameroon.
Feicom’s activity report for the 2023 financial year, published on October 30, 2024, presents figures that reflect a notable financial performance. Indeed, with 293.4 billion FCFA mobilized, Feicom exceeded its forecasts of 260.4 billion FCFA, reaching a realization rate of 112.67%. Compared to 2022, when total revenue was 255.8 billion FCFA, the year 2023 thus records an increase of 24.37% in relative value, or 57.5 billion FCFA in absolute value.
In 2023, Feicom collected a total of 195.8 billion FCFA in tax revenue, exceeding the initial target of 163.3 billion FCFA. This performance, corresponding to an achievement rate of 119.85%, represents an increase of 20.24% compared to the previous year. This success is explained in particular by better tax management, spontaneous payments and measures to simplify tax procedures, particularly at the level of the Directorate of Large Enterprises (DGE).
The main sources of revenue include the Additional Municipal Centimes, the Annual Forestry Royalty, the Automobile Stamp Duty, the Local Development Tax, and the Property Tax on Real Estate. These taxes generated 150.3 billion FCFA, representing a realization rate of 148.52%, far exceeding the forecast set at 101.2 billion FCFA. Compared to 2022, this represents an increase of 26.5 billion FCFA, representing an increase of 21.47%.
In addition to tax revenues, Feicom also collected 45.4 billion FCFA in inter-municipal revenues, allocated to financing projects and the operation of the organization. These funds exceed the 2022 figures by 12.52%, an increase of 5 billion FCFA. These revenues reflect Feicom’s increased support for local initiatives and infrastructure essential to the development of Cameroonian municipalities.
Non-tax revenues also contributed to Feicom’s positive balance sheet for 2023, with a total of 97.6 billion FCFA, slightly up from the forecast of 97 billion FCFA. This achievement, although modest compared to tax revenues, shows an increase of 33.60% compared to 2022, or 24.5 billion FCFA in absolute value. This source of income remains crucial for Feicom’s financial diversification and stability.
These encouraging financial results are the result of several factors, including the application of the new provisions of the 2023 Finance Act, which have enabled a broadening of the tax base, better securing of revenues, and a simplification of tax procedures. The management of the Statements of Operations to be Transferred (EDOT) and the monitoring of account transfer operations from 2022 to 2023 also played a decisive role in achieving the financial objectives.
With such a performance, Feicom positions itself as a key player in financing local development and supporting decentralized local authorities in Cameroon. The organization intends to continue this dynamic and further strengthen its contributions, in order to meet the growing financing needs of communities and support the decentralization process in the country.
