Our Organisation

The Papua New Guinea Government's overall objective is to create a society in which each citizen can have every prospect of a better quality of life. The Department of Finance's role within this objective is to develop and implement the financial framework to effectively manage public resources to support the Government's aspiration.

The Department of Finance, as one of the central agencies of Government, has the important responsibility of providing financial policy advice and guiding and supervising the financial management of public resources at all levels of government. The Department is the principal organisation charged with providing the policies, regulations, systems, information and technical support for this demanding task. The Constitution, Organic Law on Provincial and Local Level Government and the Public Finance (Management) Act assign a wide set of responsibilities to the Minister of Finance and the Department of Finance.

Mission

The Mission of the Department of Finance is to provide policy advice and maintain sound financial management systems to enable operational efficiency, effectiveness, transparency and accountability in the management of public resources within all levels of government and instrumentalities.

Mandate

The functional responsibilities of the Department are mandated by the Constitution, the Organic Law on Provincial and Local-level Government and the Public Finances (Management) Act 1995. Other specific requirements creating and authorising the performance and execution of our responsibilities come from policy determinations of government reflected in government development plans and annual budgets.

The Constitution and above legislation, in respect to accounting and financial management, require the Department of Finance to take actions to:

• Ensure all moneys of or under the control of the National Government are dealt with and properly accounted for in accordance with law.
• Ensure no moneys of or under the control of the National Government are expended except as provided by this Constitution or under an Act of the Parliament.
• Establish an extended service of the National Department responsible for financial matters known as the Provincial and District Treasury headed by a Provincial Treasurer to ensure that public moneys are managed and released strictly in accordance with the Act of Parliament and financial reports are made.
• Supervise the finances of the State to ensure that full accounting is made to the Parliament of all accounts involving public moneys.
• Supervise the finances of public bodies.
• Assist with the formulation of the National Budget.
• Oversee the implementation of the National Budget on behalf of the National Government.
• Control and direct all matters relating to the management of the financial affairs of the State, subject to specific directions given by the Minister.
• Consult the Departmental Heads of the Department of Prime Minister and NEC, the Departmental Head responsible for planning matters and the Departmental Head responsible for personnel management on budgetary process management.
• Specify the requirements for submission of financial reports by departments and exercise and administer financial discipline and sanctions where a Departmental Head or an accountable officer of similar status fails to submit the required financial reports.