s.54Additional functions of chief officer of finance
54
Section 54Part 6 — Financial Secretary and chief officer of Finance

Additional functions of chief officer of finance

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As well as the functions that the chief officer of finance has under Parts 3 and 4, that officer shall —
prepare the economic forecasts required by sections 23 and 26;
co-ordinate the Government's budget process established under section 17;
co-ordinate the preparation of the strategic policy statement which is to be prepared in accordance with section 18;
co-ordinate the preparation of the plan and estimates required by section 20;
prepare the pre-election economic and financial update required by section 26;
prepare the forecast financial statements for the core government and the entire public sector required by sections 24(2) and 26(2);
perform that officer's functions under sections 29 and 29A for Government quarterly reports and Government annual reports;
establish, operate and manage a centralised accounting information system for the core government;
establish, operate and manage the centralised banking system;
establish, operate and manage the executive bank account;
prepare a manual called the "Public Finance Manual" setting out, for all entities, financial, management and reporting policies that are consistent with generally accepted accounting practice, as required under section 4;
amend the manual from time to time to reflect changes to generally accepted accounting practice;
publish the manual as in force from time to time in the way the chief officer of finance thinks is appropriate to ensure entities can access its contents;
collect the capital charge required to be paid by ministries, portfolios, the Office of the Ombudsman and the Audit Office under section 41(5);
monitor the output delivery and the ownership performance of ministries, portfolios, the Office of the Ombudsman, the Audit Office, statutory authorities and government companies;
repealed by section 22(e) of the Public Management and Finance (Amendment) (No.2) Law, 2017 [Law 28 of 2017].
if requested to do so by a ministry, portfolio, the Office of the Ombudsman or the Audit Office, provide accounting and financial services to the entity and recover the actual cost of provision of those services from the entity to which they are provided;
monitor compliance with all other requirements of this Act;
report contraventions of the requirements to the relevant Chief Officer, Deputy Governor, relevant Minister or official member, together with recommendations about —
remedying the contraventions; and
action to be taken against those responsible for the contraventions; and
perform any other functions conferred under Regulations or a job description.

Defined Terms

Public Finance Manual

Cross References

Referenced By