08 Dec 2016

The establishment of a  special fund within government is governed by the Public Finance Management Act of 2011, Minister of Finance and Economic Development has said.

Speaking in Parliament, Mr Kenneth Matambo said in terms of Section 38 (3) of the Act, a special fund could be established by any government ministry or department with the approval of the Ministry of Finance and Economic Development to address a particular urgent need that requires immediate funding.

He said the procedure for establishing a special fund entails submission of a motivation by the requesting ministry for establishing such a fund.

“The motivation should include the purpose of the fund, sources of its funding, and designation of a public officer who will be the accounting officer responsible for the administration of the fund. Once the submission is approved, an order establishing the fund is gazetted and laid before the National Assembly,” he said.

Furthermore, Mr Matambo said the accounting officer responsible for the administration of any special fund is required to prepare its financial accounts and submit them to the Accountant General.

Gaborone Central MP, Mr Phenyo Butale, had asked the minister to brief parliament on the processes and procedures of introducing and managing a fund or levy in various government ministries and how the Ministry of Finance and Economic Development ensured adherence to these procedures. ENDS