Treasury Consolidates Fund Management, Cash Flow Forecasting, and Banking Relationship Management
The Solomon Islands Government’s Treasury Division has made significant strides in consolidating its fund management, cash flow forecasting, and banking relationship management responsibilities.
Accountant General’s Office Responsibilities
According to a recent report, the Accountant General’s office is responsible for ensuring compliance with the Public Finance and Management (PFM) Act 2013 and subordinate PFM regulations across all Ministries. Additionally, Treasury manages the Solomon Islands Government Accountant Society (SIGAS) and its associated training and professional development activities.
Ministry of Finance and Treasury Strategic Priorities
The Ministry of Finance and Treasury has developed high-level strategies and key initiatives to support the achievement of three strategic priority areas:
- Improving accountability
- Further supporting management reporting requirements
- Enhancing corporate service support responsibilities
Corporate Service Support Responsibilities
The Under Secretary for Corporate Services is responsible for ensuring institutional-wide strengthening programs are implemented to improve leadership capacity and culture. The Division’s responsibilities include:
- Corporate planning and reporting
- Human resources
- Accounts, property and asset management
- ICT services
A three-year plan has been developed to achieve the Ministry’s strategic priorities, including:
- Demonstrating strong leadership and ownership of restructuring initiatives
- Establishing efficient systems and processes
- Providing sound financial risk management strategies
Current Situation and Desired Outcome
The current situation highlights the need for change within the Ministry. Divisions are working in silos, and there is resistance to change. Internal information sharing is lacking, and reporting processes need improvement.
However, the MoFT leadership team has demonstrated capacity and competence, and regular reporting against strategic priorities is underway. The executive team and unit managers take ownership of change programs, and a Ministry-wide plan for documenting and reviewing internal systems and processes is in place.
Corporate Reporting
A new graduate has been recruited to focus on improving planning and reporting processes for corporate, annual work planning, and reporting. The revision of the 2016-2018 Corporate Plan was completed in 2019, and the new 2020-2022 plan includes key national policy objectives and DCGA government priorities.
Human Resources Unit
A structure review has been conducted to deliver strategic and contemporary human resource management services to MoFT’s managers and staff. A HR Manager has been recruited and is set to commence early in 2020.
The goal is to have a trained, energetic, and motivated team capable of undertaking their roles and responsibilities effectively.