The Department is responsible for managing financial resources, monitoring of accounting processes and reporting on budget execution involving all public funds appropriated by Parliament and disbursed by the Ministry of Finance. The Department was therefore, created to manage the formulation and implementation of financial management policies in order to conserve financial resources in the Ministry.
Objectives for Finance
The following are the objectives of the Finance Department:
- To facilitate, support and coordinate the effective delivery of the Ministry mandate function.
- To Ensure effective, efficient, economic and transparent use of the resources of the Ministry
- To Prevent irregular or wasteful expenditure, misapplication of funds, theft, or losses resulting from negligence or criminal conduct
- Not committing Government to expenditures in excess of monies appropriated by Parliament; and
- To manage and safeguard public assets and revenues;
The Department superintended over the following policies:
- The Public Finance Management Act of 2018 and other legislation, regulations and documents issued by the Treasury are adhered to
- The Public Procurement Act No. 12 of 2008 is adhered to
The structure of the Department is illustrated below: