Effective governance structures and sustainable financing mechanisms are key to managing urban development and ensuring equitable service delivery. In countries as Ghana, subnational governments depend heavily on the intergovernmental transfers for planning for infrastructure and service delivery. However, delays in disbursement and deductions often undermines the effectiveness of the District Assembly Common Fund, which municipal officials refer to as an “uncommon fund”. Given these constraints, this study explores how institutional arrangements either enable or hinder municipalities’ ability to generate and effectively utilize own source revenue for infrastructure and service delivery. Drawing on interviews with public officials, the findings indicate that weak institutional capacity and political interference significantly hinder local revenue mobilization efforts. Additionally, the study examines other financing mechanisms such as municipal bonds, public private partnerships (PPP) and land-based financing mechanism as viable options for addressing funding gaps. This research underscores the need for integrated metropolitan governance, enhanced intergovernmental coordination and policy reforms to ensure inclusive and resilient urban development.