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PRESENTATION ON TECHNICALITIES OF TE 2011/12 BUDGET PREPARATION CYCLE TO THE

PRESENTATION ON TECHNICALITIES OF TE 2011/12 BUDGET PREPARATION CYCLE TO THE BUDGET ANALYSIS WORKSHOP BY: MS. ERICAH B. SHAFUDAH PERMANENT SECRETARY:MINISTRY OF FINANCE 10 MARCH 2011 NAMPOWER CONVENTION CENTRE- NAMIBIA. OUTLINE. Introduction -Definitions

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PRESENTATION ON TECHNICALITIES OF TE 2011/12 BUDGET PREPARATION CYCLE TO THE

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  1. PRESENTATION ON TECHNICALITIES OF TE 2011/12 BUDGET PREPARATION CYCLE TO THE BUDGET ANALYSIS WORKSHOP BY: MS. ERICAH B. SHAFUDAH PERMANENT SECRETARY:MINISTRY OF FINANCE 10 MARCH 2011 NAMPOWER CONVENTION CENTRE- NAMIBIA

  2. OUTLINE • Introduction -Definitions 2. Budgeting Process- A vicious Cycle • Budget Formulation • Budget Approval • Budget Implementation • Government Procurement • Monitoring and Control 3. Budget highlights 4. Concluding Remarks

  3. 1. Introduction Definitions What is a budget? • plan for allocating resources: a plan specifying how resources, especially time or money, will be allocated or spent during a particular period • money for particular purpose: the total amount of money allocated or needed for a particular purpose or period of time • A budget is a financial document used to project future income and expenses. • It is a “Spending Plan” or a “Cash Flow Report”

  4. Introduction/continues • What is MTEF? • Introduced in 2001/2002 financial year. • A spending plan for a three year horizon. Is the key budget document that sets out Government expenditure plans for three (3) years. • What is MTP? • A three year plan for allocating resources to Votes' Programmes/Projects for a purpose of attaining specific objectives in line with NDPs and Vision 2030.

  5. 2. Budgeting Process-A vicious Cycle Macro-economic Framework and Fiscal Policy Framework Start O/M/As submit budget proposal to NPCS & MOF Issuing of Circulars to LM by MoF & NPC MTEF Monitoring & Control of the Budget Budget Hearings Recommendation to Cabinet Budget Implementation Approved ceilings to O/M/As for the finalization of MTPs Approval and enactment of the National Budget by Parliament Presentation of the National Budget in Parliament Printing & Publishing of the Budget documents

  6. 2.1 Budgeting Process-A vicious cycle • Budgeting Process entails the following stages: • Budget Formulation • Budget Approval • Budget Implementation • Public Procurement Process • Monitoring and Control • IFMS, Internal Audits, Auditor General Reports and Accountability Reports

  7. 2.2 Budget Highlights See hand outs

  8. Concluding Remarks • Urge Stakeholders to familiarise themselves with the budget documents and provide constructive input for future improvements

  9. I THANK YOU!

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