CHIEF DIRECTORS SCHOOLED ON PUBLIC FINANCIAL MANAGEMENT ACT

Wednesday, August 15, 2018

CHIEF DIRECTORS SCHOOLED ON PUBLIC FINANCIAL MANAGEMENT ACT

Chief Directors of various Ministries have been schooled on their responsibilities towards the new Public Financial Management Act 2016 (Act 921) by the Controller and Accountant General, Mr. Eugene Asante Ofosuhene.

He said his outfit is seeking collaboration with all Chief Directors to help in the smooth implementation of the Act. "The reason is that, we always go to Public Accounts Committee to answer questions in relations to misappropriation of funds in our respective sectors, people who do not understand may think we have done wrong so we have to work hard to sanitized the system", he added.

The Controller and Accountant General noted that Government's Annual Financial Reporting has changed.

According to him the situation where his outfit's only report on the Consolidated Funds has changed to include other funds which are generated by government agencies. Some of such funds he said include; donor, IG, Statutory, MMDAs and State Owned Enterprises Funds.

He made this remarks during this year's Mid Year Review of Chief Directors. This meeting was organized by the Office of the Head of Civil Service (OHCS) in collaboration with the Controller and Accountant General's Department.

It was attended by the Head of Civil Service, Nana Agyekum Dwamena, Dr Grace Bediako, Ag. Director General of National Development Planning Commission, Chief Directors, Mr Eugene Asante Ofosuhene and other Participants.

The Controller and Accountant General encouraged Chief Directors to report issues that have to do with wrong disbursement of funds to their institutions or any person including paying of people who have retired.

He said Chief Directors must live up to the their responsibilities for the betterment of the Ghana Civil Service.

Mr Eugene Asante Ofosuhene pointed out that with the introduction of the Ghana Integrated Financial Management Information System (GIFMIS), every transaction would be done in accordance with this system, this he said will fast track government disbursements.

GIFMIS is an automated system which seeks to run government financial system on a high speed.

He debunked the assertion that the GIFMIS system is not working effectively. He said the system works when respective MMDAs have done their processes according to laid down procedures which give the Controller and Accountant General's Department the mandate to do transfers.

"All funds belonging to the various Ministries, Departments and Agencies (MDAs) must be lodged in an account at the Bank of Ghana, the case where these MDAs deposit their funds with commercial banks should be a thing of the past", he emphasized.

He said the Controller and Accountant General Department has so far moved all accounts belonging to MMDAs from the commercial banks to the Bank of Ghana. This he said will help government to have control and available resources for expenses when necessary. "When these funds sit with these commercial banks they are loaned to Government with an interest. How can government borrow its own money for an interest", he quizzed.

On his part, Nana Agyekum Dwamena, Head of Civil Service said the only way "we can reduce the wage bill is to make sure that as Chief Directors when people exit Ministries we delete their names from the payroll.

Dr. Grace Bediako, Ag. Director General of National Development Planning Commission (NDPC) who made a presentation on the new Regulations of the Commission noted that, the new Regulations will help various MMDAs in the development of their Medium Term Development Plans.

Source: OHCS-PR