MINECOFIN

MINISTRY OF FINANCE AND ECONOMIC PLANNING

REPUBLIC OF RWANDA

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Fiscal Performance report July-Dec 2015

    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.

    KEY FUNCTIONS AND RESPONSIBILITIES OF TREASURY MANAGEMENT DEPARTMENT.

    The Treasury function in the Ministry undertakes the following functions and responsibilities in the control of government payments and transfers:

    Key Functions:

    (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:

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