Finance Framework Review – the team behind the scenes

2016 has been a very productive year for the Department of Finance in delivering tangible results to improve the public financial management system and build robust, transparent and good governance practices to manage public money and public resources for the nation. The Secretary, Dr Ken Ngangan, acknowledges the excellent contribution from talented and dedicated staff. 2016 highlights include the transparent, public and collaborative development of the Public Expenditure and Financial Accountability (PEFA) 2015 – 2018 Road Map and Assessment, updating fees and charges for a range of services, substantial advances in implementing the online financial management system and the passage of key legislation through Parliament, the Public Finances (Management) Amendment Bill, 2016.

The Finance Framework Review team have been pivotal in developing the PEFA Road Map and preparing the legislation. There remains much work to be done and the team are currently busy working hard creating the new Financial Management Manual and Finance Instructions to execute the Act.

As part of the continuing financial reforms, the Government is undertaking a comprehensive review of public procurement and will bring a new law to Parliament as soon as possible. The Finance Framework Review team will work in close consultation with the Central Supplies & Tender Board (CSTB) and ensure this important review is developed with the same transparent, inclusive and consultative approach, to guarantee quality, relevance and the best interests of Government.

The Government is strongly committed to revisiting public finance laws in order to improve and effectively manage public resources. In doing so, the Department is determined to meet people’s expectations, at all levels of government, in the way public funds are managed. The economy has grown, the volume of budget has increased and the way government business is conducted has also changed significantly. There is therefore a compelling need for a modern, up-to-date financial management framework to manage the country’s public moneys and public resources. The Department of Finance is committed to designing and implementing a framework to meet the needs of the entire country which can be understood by all people.