Cash Management & Expenditure Control

To maintain essential cash flows to the Waigani Public Account, while monitoring and reviewing the expenditure of Public Money across Departments for compliance with the Public Finances (Management) Act. The provision of financially controlled and efficient account paying services for the Department of Finance.

The Main Activities of the Branches:

Cash Management Branch

• Provide Public Account financial information and reports.
• Provide cash management procedures for reconciling and timely update of the ledgers for cash transactions.
• Provide cash flow forecasting and management (particularly for the operation of the Waigani Public Account).
• Create and maintain operational and accounting procedures for the major systems, processes, reconciliations and ledger updates of the CRF.
• Maintain relationships with relevant financial institutions.
• Provide reporting on cash flows and cash management.
• Create and maintain electronic access to relevant bank information for accounting, reconciliation and management purposes.

Expenditure Control Branch

• Provide expenditure control and compliance monitoring – utilities, labor costs, redundancies, rents, vehicles, travel etc
• Monitor, review and analyse commitment and expenditure compliance and performance by Departments.
• Manage the activities and performance of DOF finance controllers in Departments and Statutory Bodies.
• Provide timely advice and reports on over/under budget expenditure on a monthly basis.
• Make recommendations on the application of surcharges (Section 102 Public Finance (Management) Act for over-expenditure compared to budget
• Manage the payment of Contractor’s arrears expenditure arrears and the settlement of claims against the state
• Provide whole of government warrant control.

Accounts Payable

• Create and maintain a documentation of essential controls and business rules for the accounts payable function in Finance.
• Ensure payments for goods & services are for an organization purpose and are funded by an appropriation or trust account.
• Ensure payments are made within agreed Government guidelines.
• Ensure that the accounts payable system has a strong audit trail.
• Ensure security over all cheques, payee advices and other payment records (e.g. vouchers).
• Ensure the control framework remains competent at all times.

View the Cash Management & Expenditure Control.[pdf]