1. Financial Management Training Program
University of Liberia
Capitol Hill, Monrovia
Research Methodology
Management 640
Presented By: Precious Kerme Gayan(81806)
Submitted to: Dr. Edwin B.R. Gbargaye
(Course Lecturer/Discussant)
Discussion of PFM ACT PART ii: AUTHORITY & RESPONSIBILITIES FOR THE BUDGET &
PFM
Date: March 9, 2015
2. Part II of the PFM act basically highlights:
Authority and responsibilities of public officers in managing
public funds
-The president
-The Minister
- The Deputies and Assistant Ministers
Authority and responsibility to issue regulations,
instructions and guidelines.
Introduction
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3. Section 5: Authority and Responsibilities
of the President
Section 5.1
• The President has overall responsibility for all policy matters related
to the National Budget and public financial management system of
the Republic of Liberia.
• Has the authority to make decisions and take actions necessary
to carry out such responsibilities.
Section 5.2
• The President shall cause to be prepared and laid before the
Legislature at least two months before the end of the fiscal year
estimated revenues and expenditure for the following fiscal year.
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4. Authority and Responsibilities of the President con’t
• Except for the authority to submit the Proposed Budget to the
Legislature, the President may delegate to the Minister, any of the
authorities and powers conferred to the President under this Act.
• Only the President shall present to the Legislature the national
budget and any supplementary or revised budgets.
• When the budget is approved by the Legislature, payment shall
not be made out of the Consolidated Fund except on a warrant
signed by the President in accordance with Article 34 (d)(ii)
of the Liberian Constitution.
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5. Section 6: Authority and Responsibilities of the
Minister
Section 6.1
• The Minister is responsible for all technical matters related to the
proper functioning of public finance and management system,
subject to the overall policy guidance from the President.
Section 6.2
• The minister shall be responsible for the preparation and execution
of the national Budget
• Prepare annual and in-year accounts and other reports
pertaining to the National Budget.
• Management of government property, fixed assets and
financial assets (revenues, debt and government guarantees)
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6. Section 6: Authority and Responsibilities
of the Minister con’t
Section 6.3
• Following approval from the President, and consistent with the laws
of the Republic of Liberia, the Minister may establish,
structures/units within the Ministry for implementing the
requirements under this Act in order to fully discharge her/his
functions prescribed herein.
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7. Duties of the Deputy and Assistant
Ministers
Section 6.4
•Authority and responsibility specifically granted to the
Minister may be delegated to deputies or other key
designated officials of the Ministry. Any responsibility
delegated under this sub-regulation does not
divest the minister of the responsibility under this Act.
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8. Duties of the Deputy and Assistant
Ministers con’t
•The Deputy Ministers shall assist the Minister in
carrying out the responsibilities of the Minister and
especially perform those duties and functions
delegated to them by the Minister.
•The Assistant Ministers shall assist the Deputy
Ministers and the Minister in carrying out the
responsibilities of the Minister and the deputy
ministers and especially perform those duties and
functions delegated to them by the Deputy Ministers.
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9. Section 7: Authority and Responsibility to Issue
Regulations, Instructions and Guidelines
Section 7.1
• The Minister shall develop and recommend to the President for approval
regulations, where required in this Act, for the implementation of the
provisions of the Act.
• The Minister may issue regulations, instructions and guidelines, as the need
arises, to further clarify specific responsibilities and tasks related to the
implementation of this Act and its regulations consistent with the
Administrative Procedure Act and the Executive Law.
• Regulations issued by the Minister pursuant to this Act, shall be subject to
endorsement of the President. Copies of all such regulations shall be sent to the
Legislature for coordination purposes.
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