Monrovia, Liberia – The Ministry Of Finance and Development Planning through its Department of Budget and Development Planning has begun a three-day executive orientation/workshop on the FY2024 National Budget.
The orientation that is taking place at the Paynesville Town Hall is intended to strengthen government institutions’ overall comprehension and expertise in the areas of fiscal governance and management.
Assistant Minister for Budget Sarah M. McGill gave an overview of the workshop held on Wednesday, May 8, 2024 in Paynesville, outside of Monrovia. She stated that as the government works to manage the budget planning, execution, and reporting processes, it is crucial that government institutions arm themselves with a thorough understanding of the laws, rules, policies, and procedures that have been developed for guidance.
She stated that the workshop’s main goal is to give policymakers and technical staff from spending entities a forum to expand their understanding of public financial management, particularly the budgetary environment, with an emphasis on the implementation of the FY2024 Budget and the creation of the FY2025 Draft Budget.
“Through interactive sessions and informative presentations, we aim to enhance your familiarity with key fiscal policies, processes, and compliance indicators, while also addressing potential challenges and mitigation strategies.”
The General Services Agency (GSA), Civil Service Agency, Public Procurement Concessions Commission, Liberia Anti-corruption Commission, and Internal Audit Agency are among the important stakeholders that must be involved to ensure a comprehensive approach, according to the Assistant Minister for Budget at MFDP. The General Auditing Commission is essential to these processes.
“Our anticipated outcomes include increased compliance with the legal framework governing
budget formulation, execution and reporting, heightened awareness of key legal ramifications, and a deeper understanding of budgetary processes and challenges,” she noted.
Additionally, Minister McGill stated that the Ministry of Finance hopes to promote improved intra- and intergovernmental collaboration, which would support accountability, efficiency, and the prudent use of public monies.
“I am pleased to note that this workshop targets all 108 spending entities, with each entity represented by a cross-section of key personnel. Through phased implementation and careful segmentation, we aim to ensure maximum participation and engagement, thereby facilitating a meaningful exchange of insights and experiences.”
In addition, she encouraged everyone to attend the workshop with a positive attitude and a strong commitment to actively participating since, as a group, ”we have the chance to improve our fiscal governance procedures and open the door to prosperity and sustainable development for all Liberians.”
The FY2024 National Budget Executive Orientation, according to Acting Finance Minister Anthony G. Myers, is the first of its sort under President Joseph N. Boakai’s administration.
A budget execution workshop, according to Minister Myers, is intended to inform expenditure ministries and agencies of what will be approved when it comes to the budget.
FY2024 Nat’l Budget Executive Orientation Begins
By Prince Saah
The Ministry Of Finance through its Department of Budget and Development Planning has begun a three-day executive orientation/workshop on the FY2024 National Budget.
The orientation which is being held at the Paynesville Town Hall aims to fortify the collective understanding and proficiency of government institutions in fiscal governance and management.
Given the overview of the workshop Wednesday, May 8, 2024 in Paynesville outside Monrovia, Assistant Minister for Budget Sarah M. McGill said that as the government endeavours to navigate the processes of budget planning, execution, and reporting, it is important that the government institutions equip themselves with a comprehensive understanding of requisite laws, regulations, policies and procedures that have been developed for guiding.
According to her, the overarching objective of the workshop is to provide a platform for policymakers and technical staff within spending entities to deepen their knowledge of public financial management and specifically the budgetary landscape, with a specific focus on the execution of the FY2024 Budget and the preparation of the FY2025 Draft Budget.
“Through interactive sessions and informative presentations, we aim to enhance your familiarity with key fiscal policies, processes, and compliance indicators, while also addressing potential
challenges and mitigation strategies,” Minister McGill narrated.
The Assistant Minister for Budget at MFDP indicated that it is important that key stakeholders are involved to ensure a comprehensive approach, thus representations from the General Services
Agency (GSA), Civil Service Agency, Public Procurement Concessions Commission, Liberia Anti-corruption Commission, Internal Audit Agency; stating that the General Auditing Commission is key to these processes.
“Our anticipated outcomes include increased compliance with the legal framework governing
budget formulation, execution and reporting, heightened awareness of key legal ramifications, and a deeper understanding of budgetary processes and challenges,” she noted.
Moreover, Minister McGill said that the Ministry of Finance anticipates fostering enhanced inter and intra-governmental coordination, thereby promoting efficiency, accountability, and the responsible use of public funds.
“I am pleased to note that this workshop targets all 108 spending entities, with each entity represented by a cross-section of key personnel. Through phased
implementation and careful segmentation, we aim to ensure maximum participation and engagement, thereby facilitating a meaningful exchange of
insights and experiences,” she narrated.
She at the same time urged all participants to approach the workshop with enthusiasm and commit to active participation as, together, we have the opportunity to strengthen our fiscal governance practices and pave the way for sustainable development and prosperity for all Liberians.
For his part, Anthony G. Myers, Acting Finance Minister described the FY2024 National Budget Executive Orientation as the first of its kind under the administration of President Joseph N. Boakai.
Minister Myers explained that the concept of having a budget execution workshop is to enable spending ministries and agencies to know what is before them when the budget is approved.
”We do these kinds of workshops to provide the policy contest, technical specifications, and useful implementation tools for carrying out the budget.”
Harold Aidoo, Executive Director of Integrity Watch Liberia, also spoke and clarified that the requirements for Civil Society involvement in budgetary reforms and fiscal transparency are not just for oversight but also to meet the global performance index criteria.
“We are pleased that the new administration recognizes the importance of civil society involvement in political processes.”
