The facts and findings of the Kabuso forensic report are so poor that there are no prospects of the city recovering any money that has been lost.
The report, which is already six years old, details irregular expenditure on projects and how millions of rands are owed in outstanding rates and service charges.
The report was handed over to the municipality about five years ago and there has been slow progress in pursuing legal action against those implicated.
A report to the municipal public accounts committee (MPAC), which met yesterday, states that the audit committee recommended that no further action be taken.
While the MPAC previously recommended that every effort be made to finalise the implementation of the recommendations arising from the Kabuso report, the municipality now deems the matter concluded.
Claims of irregular, unauthorised, fruitless and wasteful expenditure with the way some projects were managed and implemented were highlighted in the report.
The MPAC report states: “The Kabuso report was in excess of six years old. The facts and findings of the report were poor and inconclusive.
“There are no prospects to recover any monetary losses incurred.
“This matter [must] be deemed to be concluded and finalised with no further action being taken.”
Meanwhile, the municipality is still waiting for the national Treasury to release its final report on corruption related to the city’s Integrated Public Transport System.
The Treasury, which commissioned the report at the end of 2014, only submitted draft reports in July and August last year.
At yesterday’s MPAC meeting, councillors wanted concrete time-frames.
Patriotic Alliance councillor Marlon Daniels said he believed the report was deliberately being withheld.
“We’re aware it’s a can of worms and someone is trying to keep it closed for reasons we don’t know,” he said.
Vuyo Zitumane, who was filling in as acting city manager, said she would try to establish when the report would be released.