The Department of Finance is an extension of the Office of the Accountant General. This follows the decentralisation of the office of the Accountant-General to Ministries, Provinces, Departments and Government Agencies. The Department undertakes the following functions:
- Design, implement, monitor and evaluate financial management systems, policies and guidelines in accordance with the Public Finance Management Act or any other law for the proper management of public resources;
- Research on financial management systems and review performance standards to improve service delivery in the public service;
- Compilation, management of accounts, custody, safety and integrity of public monies and stores of the Republic at Ministry level;
- Bringing to account tax and non-tax revenues of the Government;
- Cash management and accounting for stores, assets and liabilities of the Government;
- Bring to account revenues raised from the disposal of excess or obsolete public stores and assets and;
- Production of the Ministry Financial Reports (Statement C).
Principal accountabilities at Ministry level are:
- Formulation of sector specific financial management policies in order to provide a framework for prudent management of public resources.
- Preparation and submission of financial management reports in order to comply with financial regulations and facilitate informed decision making.
- Development and implementation of internal controls in order to enhance transparency and accountability in the utilisation of financial and material resources.
- Monitoring of expenditure in order to ensure spending is in line with the approved budgets and financial regulations.
- Costing of programmes in order to facilitate preparation of annual budget estimates, mobilisation and disbursement of financial resources.
- Effective utilisation of the Integrated Financial Management Information System (IFMIS) and Treasury Single Account (TSA) in order to enhance the management of public finances and promote accountability.
- Preparation of responses in order to resolve audit queries and ensure unqualified accounts.
- Managing the payroll of the Ministry and computations in order to facilitate payment of personnel related obligations.
- Management of risk in order to mitigate losses.
- Development of individual and Departmental work plans in order to monitor and evaluate performance.
- Effective utilisation of human, financial and other resources in the Department in order to facilitate the attainment of Departmental and consequently Ministry objectives.