Spending Entities Should Provide Technical Details, Policies Context and Practical Implementation for Budget Execution, says Acting Liberia Finance Minister, Hon. Myers

Monrovia, Liberia - Liberia Acting Minister of Finance and Development Planning, Hon. Anthony G. Myers has urged all 108 spending entities across government to provide technical details, policies context and practical implementation mechanism for FY 2024 approved budget execution going forward.

He asserted that at the opening of a three-day FY 2024 National Budget Orientation, Planning & Execution Workshop being held at Paynesville Town Hall, Montserrado County. The workshop takes place from May 8-10, 2024.

The objective of the workshop is to formalize heads of spending entities, deputies and key technicians from across government with the overall objective of Public Financial Management law, regulations, key policies documents and other compliance issues that relates to Public Financial Management practice. It is also geared toward orienting spending entities with the budget process, civil servant policies, public procurement concession commission process (PPCC) and Internal Audit Agency (IAA) regulations for effective budget process and execution of plan activities.

Hon. Myers thanked heads of spending entities across government for the level of cooperation and commitment to gather together and share ideas on one development agenda and goals that will enhance growth and development under the ARREST agenda.

According to him, all spending entities across government should also rebrand the budget and execution process that are aligned with their available cash approval to affect the current reality for growth and development.

‘’ We are here to represent employees from different spending institutions who are relying on all of us for good decision making and judgement that will have a life changing impact on them,” he said.

Under the watch of  the President , we were instructed to manage and execute a good budget process to impact citizens' lives and change the untold story of life's existence , especially people who are currently living in both urban and rural areas across the fifteen counties.

For her part, the Deputy Minister for Budget, Hon. Tennah G. Brunson  said policymakers and technical staff within spending entities should deepen their knowledge of the public financial management, specifically budgetary landscape, with a specific focus on the execution of the FY2024 Budget and the preparation of the FY2025 draft budget. 

According to her, through interactive sessions and informative presentations for the next three-days, the team will enhance your familiarity with key fiscal policies, processes, and compliance indicators, while also addressing potential challenges and mitigate strategies.

She noted that key stakeholders must 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 and the General Auditing Commission are key to these processes too.

She also anticipates outcomes that will increase 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.

The ongoing three-day workshop targets all 108 spending entities, with a cash entity represented by a cross-section of key personnel, and a robust technical budget team from the Ministry of Finance and Development Planning, Republic of Liberia.