Objective of the office:
To be a leading entity in the provision of quality Accounting and Financial advisory services to the public sector through proper maintenance of accounting records, timely provision of financial reports and ensuring proper accountability of public funds among others.
The main functions are:
· Planning, development, implementation and formulation of policy pertaining to accounting systems, procedures, rules and regulations.
· Direction, control and coordination of matters relating to budget agencies accounting systems and operations in liaison with Chief Budget Managers.
· Monitoring and evaluation of accounting systems in budget agencies.
· Direction, control and coordination of all matters pertaining to treasury operations including reimbursement to budget agencies (cash management).
· Direction, control and coordination of operations of the treasury in matters relating to accounting for revenue including external loans and grants.
· Liaising with the National Bank of Rwanda on matters relating to consolidated fund and budget agencies’ bank accounts.
· Management and control of Government financial reporting system to ensure delivery of timely and accurate financial information for management decisions.
· Follow-up on budget agencies’ annual accounts, audit reports, Auditor General’s recommendations.
· Administration of the Rwanda Expertise Scheme for Accountants and Internal Auditors.
· Training and development of the accountants in the civil service.
· Administration of the Organic Law on State Finances and Property.
1. Brief background
The Public Accounts Unit is one the units under Accountant General’s Office and is responsible for building capacity among reporting entities in areas of public finance management, receiving reports from reporting entities, reviewing and providing feedback and consolidating these reports at certain intervals. The unit is therefore the interface between MINECOFIN and reporting entities in matters relating to financial reporting.
The Unit is currently comprised of 11 staff members headed by Deputy Accountant General and is organized in the following teams:
· Training and communication; and
· Systems and procedures
Each team is headed by a team leader with each team comprising of at least two team members.
2. Strategic objectives of PAU
The following is the strategic objectives of PAU:
- Preparation of consolidated financial statement of Government of Rwanda;
- Development and ensuring compliance to accounting policies and procedures for budget agencies;
- Support implementation of accounting systems, Chart of Accounts and render technical support to budget agencies;
- Building capacity of Budget Agencies on accounting and reporting;
- Monitor reporting compliance of Budget Agencies according to regularity laid out on financial regulations; and
- Review reports and provide feedback to Budget Agencies.
3. Structure of PAU
The following is the organogram of the PAU:
4. Information published or to be published by Public Accounts Unit
- Government of Rwanda Standard Chart of Accounts
- Reporting template in use
- Extract of consolidated financial statements
- Law, Policies and Financial regulations
- Procedures manuals, guidelines and instructions
- Frequently asked questions in line with Public Sector Accounting and reporting
- Focal person assigned to reporting entities
- Events and news
Government portfolio Management Unit (GPMU):
To ensure outstanding management of Government of Rwanda investment in order to achieve Government’s strategic objectives and provide a reasonable return from financial, governance and socio-economic outlook while complying with the legal obligations.
Key Functions of the Unit:
· Promote corporate governance and risk management in Government Business Enterprises (GBEs);
· Strengthen financial and accountability discipline within Public Enterprises; and
· Ensure optimum government investment portfolio to enhance sustainable economic development.
Treasury Management Department
Treasury Management Department facilitates the Ministry of Finance and Economic Planning in achieving the higahest international standards in Public Finance Management (PFM) in order to ensure proper accountable use of resources.
The aim of this part is therefore, to act as a user guide to the Government Treasury management in Rwanda and should prove useful to anyone interested in receiving an overview of Treasury Management in MINECOFIN. It also serves as a guide to stakeholders on the various steps, processes and procedures required by Treasury Management Department.
The Treasury function in the Ministry undertakes the following functions and responsibilities in the control of government payments and transfers:
(a)Process all payments and transfers from the consolidated fund bank account and special bank accounts maintained at the National Bank of Rwanda
(b)Ensure all payments and transfers are within the adopted budget of the public entity, legitimate and adequately supported;
(c)Ensure all payments and transfers are within the cash limits set by the Treasury Management Committee;
(d)Process payments and transfers by direct payments, and any other means in the most efficient manner to bonafide payees without loss to the Government;
(e)Keep timely, comprehensive and accurate records of outstanding public debt including information about principal and interest, guarantees and lending in an appropriate database;
(f)Facilitate the recovery of any payments including interest and other costs incurred by Government due to the honouring of outstanding guarantees;
(g)Prepare forecasts on Government debt servicing and disbursements as part of the yearly budget preparation;
(h)Manage Treasury Single Account, its sub-accounts, special bank accounts and any other government accounts in the most efficient manner;
(i)Prepare monthly bank reconciliations and take remedial action on outstanding items;
(j)The Treasury Management prepares monthly, quarterly and annual Treasury Reports containing all transactions through the consolidated fund account and special bank accounts with the National Bank of Rwanda indicating all revenues, all payments and transfers, opening and closing balances and transfers any balances, excluding balances of decentralised entities and extra-budgetary entities, to the accounts of the consolidated fund.
(k) Archive all transaction documents in accordance with government policies and regulations.
STRUCTURE OF TREASURY MANAGEMENT DEPARTMENT
The above structure highlights the main activities that are carried out under the Treasury Management Department on a daily basis. The purpose of this part is to give insight on the steps or activities involved across the entire business process workflow.The Treasury Management Unit is therefore, structured into the following Sections which are largely aligned to the core functions of the Unit: