Financial Reform Workshops Receive Positive Feedback
~~Adz:Left~~ The Ministry of Finance is pleased with the positive feedback from senior managers who participated in its series of orientation workshops last week as part of its Financial Management Reform education campaign.
Coming on the heels of a recent session for Permanent Secretaries, the sessions targeted the management teams within the various ministries. More than 100 department and unit managers participated in the half-day workshops which addressed topics such as the key design concepts, the new budget process, output management and financial management arrangements at the ministry level.
The workshops formed part of activities organised to facilitate the transition required as the Government embarks on financial management reform under the umbrella of its public sector reform initiative. Financial management reform incorporates an integrated system of planning, budgeting and reporting.
It is made up of five main elements and Financial Secretary Neil Smith explained that these are “Redefining performance based on results; an integrated strategic planning and budgeting process; a new accountability framework; accrual accounting and output budgeting.”
Mr. Smith further stated that “The objective of financial reform is to fundamentally change the way in which the Government’s financial management system operates so that it provides Cabinet with better mechanisms to control and execute government policy and managers with greater freedom to manage within more meaningful accountability arrangements.”
Manager of the Project Support Services Unit within the Ministry of Finance Shaina M. Smith said the overall premise of financial management reform is to “move from a bureaucratic to a corporate mindset where time is equated to money.”
Miss Smith added that the reform process will create an environment “that provides much greater flexibility for managers to manage their ministries and has explicit and formalised accountability arrangements based around ministry performance.”
The workshops facilitators were the Financial Secretary Neil Smith, Manager of the Project Support Services Shaina Smith and Acting Budget Coordinator Diane Parsons.
Miss Smith told the Department of Information and Public Relations the next step in the process will be to meet with the financial management reform coordinators to discuss the implementation strategies within the various ministries. She added that the next round of training will focus on the 2009 budget and will be scheduled for later this year.
The renewed programme of public sector reform was announced in January by His Excellency the Governor David Pearey. The Ministry of Finance is responsible for taking forward initiatives related to financial reform. Other areas of reform include service delivery, strategic planning and human resources management.
