November 21, 2023

Chief Budget Managers across government have been called upon to avoid “business as usual” approach to discharging the duties at the critical juncture, when Government is working towards delivering targets for the National Strategy for Transformation One (NSTI).

Presiding over the 3-day workshop, Minister of State for National Treasury Richard Tusabe reminded that as custodians that Government has entrusted with fiduciary role to manage state finances and properties, Chief Budget Managers have the responsibility to deliver on NSTI targets so that NST2 can start on solid footing.

“We need to rethink our ways of doing things. Let’s stop practices that don’t foster value for money; advise on what needs to be improved; converging towards best practices and embarking on reforms that help us accelerate our economic performance as key pillars for a Public Finance Management we want for NST2” Minister Tusabe said.

The retreat targeted individuals charged with financial management both at Central Government and Local Government. It is geared towards enhancing public financial management, focusing on recent developments including the recent revised Organic Law on public finance management and Law governing public procurement. The workshop will enable participants to reflect on last fiscal year performance, brainstorm on key reforms planned ahead and take corrective actions to ensure continuous improvements of Public Finance Management.

Other topics being discussed relate to performance based budgeting; improvement in medium term economic framework and introduction to climate budget tagging; migration to accrual basis of accounting using International Public Sector Accounting Standards; Risk Management and Risk Based Audit approaches as well as the introduction to updated guide for projects appraisal, selection criteria including climate consideration.