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April 20, 2021
News

Finance Tough on Acquittals

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The Department of Finance has now made it a mandatory requirement for districts, provinces and government departments to providetheir acquittals before accessing funds for the new year.

Minister for Finance James Marape’said he has given instructions to all government departments, districts and provinces to submittheir financial reports beforethey access funds for next year.

 

Marape’saidthe close of accounts for the holiday period has been shortened to 4 weeks and he expects all reports to be submitted on time.

 

He also said sincethe introduction ofthe District Support Improverment Program, no acquittals were submitted and he has also made it a requirement for members to submittheir DSIP reports before new funds are accessed.

 

Withthe rural-focused 2014 budgetohe says he expectsthese monies to be put to good use and reports made available.

 

And to ensure proper reporting takes place, all treasurers inthe provincial and district levels will be trained with accounting skills to provide acceptable reports.

 

Acting Secretary for Finance, Dr. Ken Ngangan, saysthe department will also make it a mandatory requirement for treasurers to be degree holders. It will buildtheir capacity to manage and report accordingly.

 

He has challenged treasurers to ensure all cheques fromtheir treasuries do not leave withouttheir signatures.

 

He saidthey want to strenthen systems withinthe department and ensure funds are disbursed for the right purposes.

 

Meanwhile, all acquittals submitted will be available for the public.

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