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Budget Section Responsibilities
Budget Section is a unit established under the Treasury Division in the Department of Finance and Treasury under the Ministry of Finance and Economic Management. Budget Section's key roles are defined below. At all times all the duties are carried out within the financial laws of Vanuatu; these are set out in the Public Finance and Economic Management (PFEM) Act [CAP 244] of 1998.
- Adoption of the leading role in the formulation of the following year's national budget to the deadlines set out in the Budget timetable;
- Execution of the national budget during the financial year;
- Serving as secretariat to the Ministerial Budget Committee (MBC; a sub-committee of the Council of Ministers (COM) that is responsible for budget hearings and the determination of budget allocations);
- Provision of advice on the alignment of budget with government's policy priorities;
- Analysis and preparation of reports (on monthly and half yearly bases) on the fiscal situation and trends (covering revenue, expenditure, grants, financing and public debts);
- Ongoing monitoring of government cash-flow, with a focus on actual revenues and expenditures as measured against forecasted revenues and expenditures;
- Chairing of monthly cash-flow meetings with the Ministry's Chief Accountant and officials from the Reserve Bank of Vanuatu;
- Preparation of the Budget Policy Statement and its subsequent publication in the media;
- Analysis on financial implications of proposed Council of Ministers (COM) papers;
- Scrutiny of Supplementary Appropriation requests;
- Providing sound advice to agencies with any budget related queries;
- Evaluation and processing of Financial Visas in accordance with Public Service Commission(PSC) approved structures and available budget;
- Close collaboration with the both the Expnditure Analysis and the Economic Sections when updting the Macro and Fiscal frameworks.