MINISTRY OF FINANCE
1. Core values of the ministry of finance
Efficiency
Commitment to work
Team work
Timely service
Integrity
Kindness
2. The strategic plan for ministry of finance to perform its function effectively and efficiently
Maintain and develop sustainable resource capacity to ensure quality service to the government
Efficiency and effectiveness of distribution of money budgeted
Financial management and accountability
Resource mobilization, allocation and utilization
3. Mandate of the ministry
Formulation of fiscal, monetary and financial policies, timely and adequate allocation of funds to the SAUTSO government and make close follow-ups on the budget execution.
3.1. Functions
Broad functions of the ministry include
Formulation of policy issues related to macro-economic, fiscal, monetary and strategy
Advices the SAUTSO government on various issues pertaining to its expenditures
Preparation of expenditure targets, review of expenditure performance and preparation of budget guidelines
Preparation and implementation internal aid policies
Managing the SAUTSO government expenditures roll
Overseeing all expenditure operations of the SAUTSO government
4. EXPENDICTURE MANAGEMENT
The ministry of finance is undertaking organizational and to strengthen the SAUTSO government budget process and accountability through;
Centralization of the banking processes
The implementation of an improved budget classification or chart of accounts systems
Improved approaches to cash management and expenditure control
4.1. CASH BUDGETING
Cash budgeting is a means to ensure that spending entities live within their allocated funds and to encourage efficiency through hard budget constraints.
The objectives of cash budgeting are;
Limit expenditure allocations at a time of resource availability
Introduce and strengthen the fiscal discipline
4.2 PERFOMANCE BUDGETING
Performance budgeting is a technique of budgeting which is result oriented
The technique;
Presentation of budgets that are properly linked to vision, mission and targets
Attempts to integrate the budget process
Elaborate presentation in budget implementation
5. STAKEHOLDERS ANALYISIS
The aim of the analysis is to identify who are the stakeholders of the ministry and what are their expectations from the ministry
i. PARLIAMENT
Adequate allocation of resources to constituencies
Timely and accurate financial report
Timely and adequate allocation of funds
Accurate valuation of SAUTSO government assets
ii. CABINET/PRESIDENCY
Sound and implementable financial policies
Economic stability
Timely and realistic government budget
6. MISSION, VISION AND VALUES
a) MISSION:
To achieve and maintain financial management, financial discipline, accountability resource mobilization and allocation, government assets management through efficient and effective provision of financial services
b) VISION:
To exel in sustain management and accountability of financial control with provision of quality financial services.
c) VALUES:
Professionalism
Commitment to work
Efficiency
Team work
Timely service delivery
Integrity
Participatory management
7. THE PLAN
To control money supply
To control budget deficit
To ensure good, understandable and accessible of tuition fees
To implement micro-finance policy
Enhance resource allocation to priority sector
Manage SAUTSO government accounting systems
To develop and institutionalize guidelines and procedures
Timely review and provision of appropriate legal advice to the SAUTSO government
8. Summary of budget from estimates from April to September
