Hohoe Municipal Assembly collected GHc 46,879 as its internally generated fund against a projected figure of GHc 138,396 at the end of June.
Mr Victor-Hermann Condobrey, Municipal Chief Executive, who was addressing an assembly ordinary general on Wednesday in Hohoe, said only 4,000 out of 12,797 property owners paid rates.
Mr Condobrey said the Municipality's indebtedness stood at about GHc 256,838 including monies owed to contractors, suppliers, staff of former zonal council and non-payment of counterpart development funding.
On projects, the MCE said six 10-seat and 16-seat vault chamber sanitation facilities worth about GHc 65,229 under the second phase of the sixth European Union Micro Project programme were underway at Akplamafu, Leklebi-Agbesia, Wli-Afegame, Fodome-Amle and Lolobi-Ashiambi.
A one-storey block for the midwifery school, a six-unit classroom and a dormitory block was receiving funding worth GHc 882,010 under the Ghana Education Trust Fund (GETFund).
Under the Community-Based Rural Development Programme (CBRDP) projects in education, water and sanitation and agriculture are in progress.
Mr Joseph Amenowode, Volta Regional Minister, appealed to Municipal and District assemblies in the region to be transparent and accountable.
He reminded heads of departments and assembly members to live above reproach and that asking members of the previous administration to account for their stewardship should be a pointer for all to demonstrate prudence in the discharge of duties.
Mr Amenowode called for effective supervision and vigilance to nib in the bud the financial malaise that had saddled assemblies in the region.